Head of Credit Risk

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

Job summary

An established industry player is seeking a dynamic credit leader to drive innovation in credit risk management. This role offers a unique opportunity to shape the future of commercial banking by leading a high-performing team and overseeing critical credit risk processes. With a focus on supporting fast-growth businesses, you will leverage your expertise to enhance credit insights and ensure compliance with regulations. The company values transparency and continuous learning, making it an ideal environment for those passionate about making a meaningful impact in the financial sector. Join a forward-thinking team that champions innovation and supports ambitious growth.

Benefits

Equity stake in the business

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 sector-based lending and credit risk modelling frameworks.

Responsibilities

• Chair and oversee the Credit Risk Management Committee.
• Lead a high-performing Credit Risk team and foster a culture of transparency.
• Drive transformation initiatives across credit policies and workflows.

Skills

Credit Risk Management

Leadership

Commercial Acumen

Risk Management

Innovation

Credit Governance

Communication

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 seeking a dynamic credit leader who combines commercial acumen, sound judgment, and a passion for helping businesses grow. You’ll bring a strong technical foundation and thrive in a fast-moving, entrepreneurial environment where innovation and impact matter.
• Deep expertise, sound judgment, and a passion for helping businesses thrive—while driving innovation in credit risk management.
• Ability to balance effective credit governance at policy level, manage risk across a portfolio, and dive into customer-level details—always aligned with OakNorth’s commercial goals.
• Energy for supporting ambitious, fast-growth businesses, using credit as a strategic enabler to deliver outstanding customer outcomes.
• Capability to find the path to “yes” but confidently say “no” with clarity, consistency, and integrity.
• Proven history of profitable credit decisions within delegated authority.
• Deep understanding of credit risk regulation, policy, and portfolio management.
• Strong expertise in sector-based lending and credit risk modelling frameworks.
• Confident communicator capable of influencing and advising at Executive Leadership and Board level.
• Passionate about building and developing high-performing teams and exploring how automation, AI, and new technologies can deliver sharper risk insights.
• 10+ years of experience in SME or Commercial Credit Risk, with a strong track record in senior leadership roles.
• Degree-level qualification or relevant professional certification (e.g., ACA, CFA).

Additional Benefits include:

• Equity stake in the business
• 25 days holiday
• Personalized benefits tailored to your needs
• Subsidised Private Medical Insurance with Bupa
• Enhanced maternity and paternity leave
• Wellbeing and social events
• Support for causes you care about – Volunteering time off
• Salary sacrifice schemes (Cycle to work, nursery, gym, electric car scheme)