Director, Credit Risk – Cash Flow Lending

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.

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.

• Exposure to restructuring, recoveries or managing complex credit situations.

• 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