Head of Credit Risk

OakNorth Analytical Intelligence; London; On-site; GBP 70,000 - 110,000; Full time

Job summary

An established industry player is seeking a dynamic credit leader to shape the future of commercial banking. This role involves leading a high-performing Credit Risk team, overseeing the Credit Risk Management Committee, and driving innovation in credit processes. The ideal candidate will have over 10 years of experience in credit risk, a strong technical foundation, and a passion for supporting fast-growth businesses. Join a collaborative culture that values transparency and continuous learning while making a real impact in the banking sector.

Benefits

Equity

25 days holiday

Personalized benefits

Subsidised Private Medical Insurance

Enhanced maternity and paternity leave

Wellbeing and social events

Volunteering time off

Salary sacrifice schemes

Qualifications

• 10+ years of experience in SME or Commercial Credit Risk.
• Strong expertise in credit risk modelling frameworks.

Responsibilities

• Lead the Credit Risk Management Committee and oversee credit policies.
• Drive transformation initiatives across credit processes and systems.

Skills

Credit Risk Management

Leadership

Commercial Awareness

Credit Risk Regulation

Communication Skills

Analytical Skills

Education

Degree-level qualification

Relevant professional certification (e.g. ACA, CFA)

Job description

At OakNorth, we’re not just transforming banking—we’re shaping the future for entrepreneurs and fast-growth businesses. With deep sector knowledge, cutting-edge data analytics, and a truly collaborative culture, we give our clients the edge to thrive—and we do the same for our people. If you're passionate about credit, driven by innovation, and ready to make a real impact, this is your chance to lead an exceptional team at the forefront of commercial banking.

The Role

We're looking for someone who’s excited by supporting growth businesses. You are open to exploring innovative technologies, digitally enabled processes and AI to bring sharper, more efficient credit insights to our loan book. You’ll play a key role in Credit Risk Management Committees (CRMCs), where we get under the skin of the businesses we lend to—deeply understanding their operations, challenges, and opportunities.

If you’re passionate about credit, commerciality, and building something meaningful, this is your chance to make a real impact.

Key Responsibilities:

1. Leadership & Oversight
   • Chair and oversee the Credit Risk Management Committee (CRMC)
   • Lead the formulation and execution of the Bank’s Credit Risk Appetite and policies
   • Provide regular reporting and insight to the Board and Board Risk & Compliance Committee on key risk indicators and portfolio performance
2. People & Culture
   • Lead, inspire, and grow a high-performing Credit Risk team
   • Foster a culture of transparency, challenge, and continuous learning
   • Champion OakNorth’s values and promote open, values-led leadership
3. Risk & Regulatory Management
   • Maintain and evolve the Credit Risk Management Framework, including PD, LGD, EAD, and Expected Loss models
   • Ensure compliance with PRA/FCA regulations and support regulatory interactions
   • Manage credit underwriting standards, portfolio balance, and impairment frameworks
4. Innovation & Process Excellence
   • Drive transformation initiatives across credit policies, systems, and workflows
   • Continuously improve credit-related processes to enhance efficiency and control
   • Lead the credit risk components of New Product Approvals and Annual Reviews

What We’re Looking For:

• We’re looking for a dynamic credit leader who combines commerciality, sound judgment, and a passion for helping businesses grow. You’ll bring a strong technical foundation, but also thrive in a fast-moving, entrepreneurial environment where innovation and impact matter.
• Someone who brings deep expertise, sound judgment, and a passion for helping businesses thrive—while driving innovation in how credit risk is managed.
• Can balance effective credit governance at policy level, manage risk across a portfolio, and confidently dive into the detail at a customer level—always with a focus on OakNorth’s commercial goals.
• Get energy from supporting ambitious, fast-growth businesses, using credit as a strategic enabler—not a blocker—to deliver outstanding customer outcomes.
• Know how to find the path to “yes”, but are equally confident in saying “no” with clarity, consistency, and integrity.
• Have a proven history of profitable credit decisions within a personal delegated authority.
• Possess a deep understanding of credit risk regulation, policy, and portfolio management.
• Have strong expertise in sector-based lending and credit risk modelling frameworks.
• Are a confident communicator, capable of influencing and advising at Executive Leadership and Board level.
• Are passionate about building and developing high-performing teams and excited to explore how automation, AI, and new technologies can deliver sharper risk insights.
• Bring 10+ years of experience in SME or Commercial Credit Risk, with a strong track record in senior leadership roles.
• Hold a degree-level qualification or relevant professional certification (e.g. ACA, CFA).

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.
• Support causes that matter to you – Volunteering time off.
• Salary sacrifice schemes (Cycle to work, nursery, gym, electric car scheme).