Senior Associate - Credit - CRE

OakNorth; New York (NY); On-site; USD 140,000 - 190,000; Full time

Benefits offered by this job

401k with match

Medical coverage

Dental & Vision

HSA program

Employee Assistance Program

20 days holiday

Job summary

OakNorth is seeking an Associate Credit Director for CRE in New York to assess and structure commercial real estate transactions, typically up to $30 million. You will report to the Senior Credit Director and collaborate with Debt Finance, Credit Analytics and the Transaction and Execution Team to drive credit decisions from initial review through closing.

The role is in-office with a focus on concise credit memoranda, covenants, and protections, presenting recommendations to committees and

Qualifications

• 5–7 years of commercial real estate credit experience, ideally at a bank or regulated lender.
• Direct deal experience across multiple CRE asset classes.
• Ability to produce concise, decision-focused credit memoranda for committees.

Responsibilities

• Lead credit risk assessment on CRE transactions across asset classes up to $30m.
• Drive transaction structuring to reflect identified risks, covenants, reserves and security.
• Present recommendations to senior committees and ensure protections are reflected in final documentation.

Skills

Credit risk assessment

Independent deal leadership

Credit memorandum writing

Financial analysis

Education

Bachelor's degree in finance/economics/related field

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.

About The Team

The CRE Credit team sits within OakNorth Bank's US Lending business and owns credit risk across the commercial real estate portfolio.

About The Role

The Associate Credit Director, CRE plays a key role in the assessment and structuring of commercial real estate transactions, typically ranging up to $30m, across a diverse mix of asset classes and risk profiles. Reporting to the Senior Credit Director, you will work day-to-day alongside Debt Finance, Credit Analytics and the Transaction and Execution Team — driving credit risk decisions from initial review through to committee approval and closing. This is an in-office role based.

What You'll Do

• Lead credit risk assessment on CRE transactions across a mix of asset classes — including construction, bridge, value-add and stabilized lending — producing well-reasoned recommendations that are ready for senior committee presentation.

• Drive transaction structuring to appropriately reflect identified risks, shaping the covenant package, reserve mechanics and security — and working with the Transaction and Execution Team to ensure those protections are reflected in final documentation.

You’ll Be a Great Fit If You Have…

• 5–7 years of commercial real estate credit experience ideally gained at a bank or regulated lending institution, with direct deal experience across a mix of asset classes.

• A track record of leading CRE transactions independently — not just in a support capacity — including development and value-add deals up to and around the $30m range.

• The ability to produce concise, decision-focused credit memoranda — clear on the thesis, honest on the risks, and usable by both committee and colleagues.

Nice to Have

• Familiarity with US CRE regulatory expectations within a banking environment.

What We Offer

• 401k plan with Principal (OakNorth match up to 4%)

• Medical Care (managed through Insperity) — employees can add their family to their plan if needed

• Dental & Vision bundle

• Insperity Health Savings Account Programme — a tax-advantaged employee benefit which can help manage health care costs by allowing employees to set aside some of their current earnings on a pretax basis for reimbursement of qualified health care expenses during the plan year

• Employee Assistance Programme (EAP)

• 20 days Holiday