Director, Credit - Trading Businesses

OakNorth; City Of London; On-site; GBP 70,000 - 100,000; Full time

Job summary

A leading UK bank is looking for a Credit Director to assess and shape loan proposals while working closely with various teams to deliver high-quality credit recommendations. The ideal candidate will have a strong background in SME cash flow based lending and financial analysis, along with a minimum of 5 years of experience in a credit risk function. This role offers numerous benefits, including equity and personalized perks.

Benefits

Equity

25 days holiday

Personalized benefits

Subsidised Private Medical Insurance

Enhanced maternity and paternity leave

Wellbeing and social events

In-house Barista Bar

Volunteering time off

Salary sacrifice schemes

Qualifications

• Minimum 5 years in a credit risk function preferred.
• Experience with asset classes such as Structured/Leveraged Finance.
• Good knowledge of credit risk models associated with SME clients.

Responsibilities

• Shape loan proposals and assess new lending opportunities.
• Challenge and work with Debt Finance and Credit Analytics teams.
• Review terms sheets and ensure compliance with security requirements.

Skills

SME cash flow based lending

Financial analysis

Credit risk models knowledge

Negotiation skills

Time management

Job description

At OakNorth, we’re on a mission to empower the UK’s most ambitious businesses. Since 2015, we’ve lent over $18 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 fuelling the UK economy.

Team Mission

At OakNorth, our Credit Risk team is at the heart of what we do – empowering ambitious businesses to grow while protecting the strength of our portfolio. As a Credit Director, you’ll play a pivotal role in driving that mission forward.

You’ll critically assess and challenge new lending opportunities across a diverse range of SME and trading businesses, crafting high-impact, insightful recommendations to our Credit Committees. Your analysis and judgement will directly influence key decisions, ensuring we deliver the right outcomes for our customers while staying true to OakNorth’s credit appetite.

This is a highly visible role – you’ll be centrally involved with Credit Committees, engage directly with borrowers to understand their funding ambitions, and help shape decisions that fuel real economic impact. If you thrive on intellectual challenge, commercial thinking, and meaningful responsibility, this is your opportunity to make a tangible difference at one of the UK’s most innovative banks.

Key Responsibilities

• Key involvement in shaping loan proposals throughsighting new lending opportunities with deal teams at an early stage
• Work with and professionally challenge our Debt FinanceOrigination team and Credit Analytics team to achieve high quality Creditpapers and deliver high-quality Credit recommendations to Credit Committee(s) including suggestions to improve the deal structure to facilitate positive outcomes for our customers while remaining within theBanks Credit appetite
• Strong ability to quickly grasp the transaction andfocus on the key risks, presenting findings in a concise yet focusedmanner.
• Collate and distribute the committee decision to newloan requests in a concise yet clear fashion and be responsible for anyfollow up actions
• Review and input on terms sheets balancing the relativerisks of the deal with customer outcomes
• Support the internal Legal/Loan Execution team in theloan completion process through close scrutiny over the bank’s securityrequirements, documentation and ensuring bank has complied with allcontrols, as agreed at Credit Committee
• From time to time, meet clients with our Debt Financeteam, providing guidance on structuring and early steer on credit appetite
• Support Portfolio Management team post facilitydrawdown with any in life loan increases or extensions, restructure orcovenants resetting
• Review all key information in supporting the creditdecision and be instrumental in ensuring deal teams satisfy conditions precedent. This may include Financial Due Diligence, overview of financialaccounts and understanding of covenant models. Ability to explain anddeliver rationale behind setting thresholds and definitions.
• Ensure that the data used by the firm to assess its risks is fit for purpose in terms of quality, quantity, and breadth
• Undertake any strategic projects as necessary, as requested by the Head of Credit Risk

What we are looking for

• A working knowledge and experience of SME cash flow based lending and financial analysis. A detailed understanding of certain key sectors is preferred e.g. collateralised lending in Healthcare, Hospitality and Leisure and typically non-collateralised sectors such as Financial intermediaries, Manufacturing; Assets classes such as Structured/Leveraged Finance including M&A activity, Financial sponsors, MBO/MBI. A strong grasp of working capital mechanics is also required. Ideally (but not essential) knowledge of Real Estate lending, primarily residential property development but also investment and commercial property too
• Ideally a minimum 5 years in a credit risk function or be able to demonstrate transferable skills.
• A good knowledge of credit risk models associated with the analysis of SME clients, such as RWA, PD, LGD
• A focus on achieving beneficial outcomes for the Bank and our customers. Tenacity yet pragmatic and strong willingness to strive for quality
• Understanding of wider risks associated with full SME product lifecycle, including origination, optimisation, collections, and recoveries
• Strong experience of risk and control techniques, including covenant setting, as applied to SME credit processes, including both the theory and application in practice
• Strong negotiation skills and ability to deal with challenge in a professional manner
• Ability to relate well to customers and colleagues
• Ability to handle multiple deliverables in a fast-paced, high-volume environment
• Effective time management is key

Benefits and 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)