Director, Credit Risk – Cash Flow Lending

OakNorth; Manchester; Hybrid; GBP 120,000 - 190,000; Full time

Benefits offered by this job

Equity in the business

25 days holiday plus personalised bene

Private medical insurance

Job summary

OakNorth is seeking an experienced Director, Credit Risk – Cash flow lending to shape credit decisions across its UK lending portfolio. You will combine deep technical credit expertise with commercial judgement, working closely with Debt Finance, Credit Analytics, and Portfolio Management to deliver high-quality recommendations.

You'll engage directly with customers, influence deal structures, and challenge assumptions early in the process while leveraging data and AI to enhance credit

Qualifications

• 10+ years of experience in corporate or commercial credit risk.
• Strong understanding of UK cash-flow lending and complex transactions.
• Excellent financial analysis skills including cash-flow forecasts and debt capacity.
• Proven ability to exercise independent credit judgement and influence senior decisions.

Responsibilities

• Lead independent assessment and challenge of new lending opportunities across UK trading businesses.
• Partner with origination and analytics teams to structure transactions balancing risk and commercial opportunity.
• Prepare and present clear credit recommendations to Credit Committee with rigorous challenge.
• Evaluate cash-flow lending, acquisition finance, leveraged and sponsor-backed transactions with robust credit judgment.
• Engage with customers during discussions to assess credit appetite and structure.
• Support portfolio quality through monitoring, covenant resets, restructurings and risk identification.

Skills

Corporate credit risk

UK cash-flow lending

Financial analysis

Independent credit judgement

Senior stakeholder management

AI in credit risk

Job description

ABOUT US

At OakNorth, we're on a mission to empower ambitious businesses and the communities they serve. Since 2015, we've lent over $21 billion across the UK and US, helped create more than 58,000 new homes and 36,000 new jobs, and supported hundreds of thousands of personal savers — all while driving economic growth in the markets we serve. We're an entrepreneurial, technology-led bank combining deep lending expertise with data, technology and AI to make better decisions and deliver a different experience for our customers.

ABOUT THE TEAM

Our Credit Risk team plays a critical role in enabling OakNorth to support ambitious businesses while maintaining a high-quality lending portfolio. Working closely with Debt Finance Origination, Credit Analytics, Portfolio Management and Legal, the team brings together strong technical expertise, independent judgement and commercial thinking to support lending decisions. We're a collaborative, fast-moving team where people are encouraged to challenge, take ownership and find solutions rather than simply follow processes.

ABOUT THE ROLE

We're looking for an experienced Director, Credit Risk – Cash flow lending to play a key role in shaping credit decisions across OakNorth's UK lending portfolio. This is an opportunity for someone who combines deep technical credit expertise with strong commercial judgement and enjoys being close to the transactions, customers and decisions that matter. You'll work across a diverse range of lending opportunities, from established growing businesses to complex, structured and sponsor-backed transactions.

Working closely with our Debt Finance, Credit Analytics and Portfolio Management teams, you'll provide independent challenge, help structure transactions and deliver high-quality credit recommendations to Credit Committee. Unlike more traditional banking environments, you'll have direct exposure to senior decision-makers, the opportunity to influence deals from an early stage and the ability to make a real impact on how we lend. We're looking for someone who is commercially minded, comfortable challenging the status quo and excited by the pace and ownership that comes with working at OakNorth.

Any additional information you require for this job can be found in the below text

WHAT YOU'LL DO

• Shape credit decisions: Lead the independent assessment and challenge of new lending opportunities across UK Trading Businesses, ensuring robust credit recommendations that balance risk and commercial opportunity.
• Influence deal structuring: Partner with Debt Finance Origination and Credit Analytics from an early stage to identify key risks, challenge assumptions and help structure transactions that work for both OakNorth and its customers.
• Drive high-quality Credit Committee discussions: Prepare and present clear, well-reasoned credit recommendations to Credit Committee, providing constructive challenge and supporting informed decision-making.
• Assess complex transactions: Evaluate a broad range of cash-flow lending, acquisition finance, leveraged and sponsor-backed transactions, applying strong financial analysis and credit judgement.
• Engage directly with customers: Work alongside origination teams in customer discussions, providing an early view on credit appetite, transaction structure and potential risks.
• Protect portfolio quality: Work closely with Portfolio Management on existing exposures, including loan increases, extensions, covenant resets, restructurings and emerging risks.
• Support transaction execution: Review term sheets, security structures and key legal documentation, working closely with Legal and Loan Execution teams to ensure appropriate risk protections.
• Provide independent judgement: Bring a balanced, pragmatic approach to credit risk, knowing when to support a transaction, when to challenge and when to recommend declining an opportunity.
• Help shape how we work: Contribute to the continued development of our credit risk capabilities, using data, technology and AI to improve the quality and efficiency of credit assessment and decision-making.

YOU'LL BE A GREAT FIT IF YOU HAVE…

• Minimum 10 years' experience in corporate or commercial credit risk, ideally within a bank, challenger bank or specialist lending institution.
• Strong understanding of UK cash-flow lending, with experience assessing complex corporate transactions, including acquisition finance, leveraged finance, M&A, MBO/MBI and sponsor-backed lending.
• Excellent financial analysis skills, including the ability to assess business models, cash-flow forecasts, debt capacity, covenant structures and downside scenarios.
• A strong track record of exercising independent credit judgement, challenging deal structures and influencing senior credit decisions.
• Experience preparing and presenting complex credit recommendations to senior Credit Committees, with the confidence to challenge proposals and engage with senior stakeholders.
• Strong understanding of credit risk frameworks, including covenant setting, portfolio risk management and key credit risk measures such as RWA, PD and LGD.
• Commercial awareness and the ability to balance disciplined risk management with supporting ambitious businesses.
• Strong communication, negotiation and stakeholder management skills, with the ability to build effective relationships across origination, credit and wider business teams.
• A pragmatic, entrepreneurial mindset — someone who can cut through complexity, take ownership and operate effectively in a fast-moving environment.
• An interest in how technology, data and AI can improve credit risk management and lending decisions.
• Nice to have: Experience across sectors such as healthcare, hospitality and leisure, manufacturing, financial intermediaries or other specialist lending markets.
• Nice to have: Exposure to restructuring, recoveries or managing complex credit situations.
• Nice to have: Experience working directly with business owners, management teams, private equity sponsors or financial advisers.

WHY OAKNORTH?

At OakNorth, you'll have the opportunity to work on meaningful, complex lending transactions without the layers of bureaucracy often associated with larger institutions. You'll be part of a business that values independent thinking, commercial judgement and people who take ownership.

We move quickly, challenge conventional approaches and use technology and AI to continually improve how we work. As we continue to grow, you'll have the opportunity to influence not just individual transactions, but how we approach lending and risk management more broadly.

If you're an experienced credit professional looking for greater ownership, exposure to senior decision-makers and the opportunity to make a real impact, we'd love to hear from you.

WHAT WE OFFER

• Equity — we want everyone to have a stake in the business so our interests are aligned
• 25 days holiday plus personalised benefits — opt in to what matters to you
• Subsidised private medical insurance with Bupa
• Enhanced maternity and paternity leave
• Wellbeing and social events, plus in-house Barista Bar in the London office
• Volunteering time off to support causes that matter to you
• Salary sacrifice schemes — cycle to work, nursery, gym, and electric car scheme

Location London; Manchester

Employment Type Full time

Location Type Hybrid

Department Credit