Associate Director, Savings & Deposits

OakNorth; London; On-site; GBP 100,000 - 130,000; Full time

Job summary

OakNorth is seeking an Associate Director for its Savings and Deposits team to lead the strategy and execution of their commercial deposit business. This role demands an innovative leader who thrives in a fast-paced environment, driving impactful solutions and fostering key relationships in the banking sector.

Benefits

Equity

25 days holiday

Subsidized Private Medical Insurance

Enhanced maternity and paternity leave

In-house Barista Bar

Qualifications

• Proven track record in commercial banking.
• Demonstrated success in growing deposit portfolios.
• Strong network in venture capital and private equity.

Responsibilities

• Drive commercial deposits strategy and identify high-growth opportunities.
• Act as a strategic advisor to commercial clients on funding needs.
• Develop innovative deposit solutions in collaboration with product teams.

Skills

Commercial acumen

Client relationship management

Strategic thinking

Innovation in banking

Education

Degree in Finance or Business

Job description

Join to apply for the Associate Director, Savings & Deposits role at OakNorth

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Join to apply for the Associate Director, Savings & Deposits role at OakNorth

Since 2015, we’ve backed entrepreneurs with over £13bn in funding, helping create 56,000+ jobs and 34,000+ new homes across the UK and US. We’re dedicated to helping trailblazing businesses thrive and our Savings and Deposits team are integral to our growth.

This is a fantastic opportunity to join a fast-paced, growing bank with a reputation for doing things differently. We don’t want another cog in the machine, we’re looking for self-starters and bold thinkers who want to pave their own career paths and are passionate about supporting the UK’s best and brightest businesspeople.

As Associate Director, Savings & Deposits at OakNorth, you’ll take part in leading the strategy, growth, and execution of our commercial deposits business — playing a critical role in shaping our funding strategy and expanding our relationships with the UK’s most ambitious and high-growth businesses. Sitting at the intersection of relationship banking, treasury, and product innovation, you’ll drive scalable, customer-centric deposit solutions tailored to the evolving needs of SMEs, mid-market companies, and fast-scaling ventures wishing to offer these services to their customers.

This is a high-impact role where you’ll bring a sharp commercial mindset, a passion for challenging the status quo, and the ability to thrive in a dynamic, founder-led environment — where success is measured through bold thinking, strong execution, and real commercial results.

Are you ready to step up to the challenge?

Responsibilities:

Strategy & Leadership

• Part own and drive the commercial deposits strategy, aligning with the bank’s broader liquidity, balance sheet, and commercial goals.
• Identify high-growth opportunities across sectors including healthcare, tech, professional services, and real estate.
• Work in and drive a high-performing team focused on acquisition, retention, and deepening deposit relationships.
• Serve as a thought leader and internal champion for deposit-led growth, collaborating across product, treasury, risk, and technology.
  
  
  

Client & Market Focus

• Act as a strategic advisor to commercial clients, understanding and solving for their cash, liquidity, and funding needs.
• Develop tailored propositions (e.g. escrow, notice accounts, structured deposit products) that appeal to CFOs and treasurers of growth companies.
• Leverage your existing network to originate new relationships and embed us within the venture ecosystem.
• Monitor market trends and competitor activity to ensure our deposit offering remains relevant and differentiated.
  
  
  

Product & Innovation

• Co-create innovative, tech-enabled deposit solutions in partnership with product and engineering teams.
• Ensure seamless onboarding, servicing, and digital UX that meet the expectations of modern business customers.
• Explore opportunities to integrate cash management, treasury, and ESG-linked features into deposit propositions.
• Utilizing Generative AI: Leverage GenAI tools to increase productivity and enhance decision-making processes within the role.
  
  
  

Commercial & Financial Ownership

• Drive and exceed targets across deposit balances, NIM, customer acquisition, and cost of funds.
• Develop commercial models and pricing frameworks in close alignment with Treasury and Finance.
• Influence and support ALM strategy through effective management of term structure and deposit mix.
  
  
  

Governance & Risk

• Ensure compliance with PRA, FCA, and internal governance standards including KYC/AML for commercial deposit clients.
• Work with Compliance and Risk to maintain robust frameworks as we scale.
  
  
  

Requirements:

• Proven track record in a similar commercial or sales role.
• Demonstrated success growing commercial deposit portfolios and building product-led customer propositions.
• Deep understanding of the needs of growth businesses, particularly in terms of banking and financial services.
• A strong network of relationships within the venture capital and private equity communities.
• Strong commercial acumen with the ability to balance client needs and sustainable unit economics.
• Demonstrated ability to build new and leverage existing relationships to achieve business targets.
• Excellent communication and interpersonal skills, with the ability to influence and persuade senior stakeholders.
• A passion for innovation and a drive to challenge the status quo in banking.
• Comfortable working in a hyper-growth, founder-led, entrepreneurial environment where success is demonstrated through commercial results.
  
  
  

Benefits & Perks:

• Equity. We want people to have a stake in the business so that all our interests are aligned.
• 25 days holiday
• Personalized benefits – opt-in to what matters to you
• Subsidised Private Medical Insurance with Bupa
• Enhanced maternity and paternity leave
• Wellbeing and social events
• In-house Barista Bar in London office
• Support causes that matter to you – Volunteering time off
• Salary sacrifice schemes (Cycle to work, nursery, gym, electric car scheme)

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Business Development and Sales

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