Full-Time
OakNorth Bank
501-1,000 employees
Provides tailored lending solutions for businesses
No salary listed
Mid, Senior
London, UK
Hybrid position based in London.
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- Working knowledge of restructuring and insolvency/recovery techniques and previous experience in assisting in restructuring problem loans to achieve a satisfactory credit risk position.
- Ensure credit risk and procedures are effectively complied with.
- Assess the credit risks of new business initiatives.
- Build relationships with key stakeholders (both internal and external), provide advice, support and solutions on a broad range of credit risk issues.
- Ability to manage cases, prioritise work and adjust to multiple demands.
- Experience in dealing with real estate lending and security documentation.
- Experience and interest in development finance.
- Excellent verbal and written communication skills including competent credit report writing.
- Excellent analytical skills with attention to detail, including strong ability to analyse, document, simplify and effectively deal with technical and business matters and processes.
- Assist in the development of strategies and on cases which are considered straightforward.
- Assist and support Director and Senior Director on more complex cases.
- Implement strategies to maximise recovery and reduce risk and losses for the bank.
- Liaise with Solicitors, Insolvency Practitioners and other associated professionals.
- Coordinate team provision requirements, write offs, based on estimated recovery outcomes.
- Support the senior team in adhering and developing the team’s risk management and internal control processes.
- Assist in analysing economic, political and market events, which may have an impact on the portfolio and make risk management recommendations.
- Work collaboratively with a team of analysts to achieve all the above.
OakNorth Bank offers tailored lending solutions to businesses and savers in the UK, focusing on fast and flexible financing options. The bank specializes in senior debt finance, allowing for quick loan approvals that support business growth, particularly in property development and hospitality. Unlike traditional banks, OakNorth works closely with private equity firms to customize its financial products, ensuring they meet specific client needs. Additionally, OakNorth provides savings accounts that help fund local businesses, fostering community development.
Company Size
501-1,000
Company Stage
Grant
Total Funding
$15.8M
Headquarters
London, United Kingdom
Founded
2015
Simplify's Take
What believers are saying
- OakNorth's US expansion boosts growth, with £2.1bn in new lending in 2024.
- Partnerships with fintechs enhance technological capabilities and customer reach.
- Surging UK property market aligns with OakNorth's focus, driving potential growth.
What critics are saying
- Increased competition from UK digital banks like Monzo and Starling Bank.
- US market expansion faces regulatory challenges and established local competition.
- Rising interest rates may reduce demand for OakNorth's loans.
What makes OakNorth Bank unique
- OakNorth offers fast, flexible finance options tailored to ambitious UK businesses.
- Specializes in senior debt finance, crucial for management buyouts and quick business scaling.
- Focuses on property developers and hospitality businesses, providing significant industry-specific expertise.
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Benefits
Flexible Work Hours
Paid Vacation
Parental Leave
Company Equity
Commuter Benefits
Company News
SGI acquires Edinburgh office building from OakNorth Bank.
OakNorth, the British-based digital bank, will on Monday announce that it has agreed to acquire Community Unity Bank (CUB), which is based in Birmingham, Michigan, in an all-share deal.
The journey to scaling a business is rarely straightforward. For female entrepreneurs and leaders, the road can be even steeper. Despite making significant contributions to the UK economy, women lead just 15% of small and medium-sized enterprises (SMEs) with employees, according to the government’s 2023 Small Business Survey. Yet, female-led businesses continue to receive a disproportionately small share of investment and debt funding – just 2% of VC capital. Even so, female founders continue to drive innovation, growth, and change.At Oak North, we’ve had the privilege of working with some of the UK’s most dynamic female-founded and led businesses, all of whom have navigated the complexities of scaling while securing the funding needed to grow. Women like Nisha Katona (MowgliStreet Food), Ella Mills (Deliciously Ella), Tracey Storey (Melrose Education), and Sophie Lawler (Total Fitness)are leading thriving businesses in highly competitive industries. Their journeys reflect the resilience, vision, and ambition that define entrepreneurship today
OakNorth – the leading digital bank for entrepreneurs, by entrepreneurs – today publishes its latest Annual Report, revealing pre-tax profits of £214.8m ($271.6m) in 2024 (FY23 £187.3m / $236.8m)[1]. OakNorth provided over £2.1bn ($2.6bn) of gross new lending in 2024, continuing its track-record of supporting ambitious and innovative businesses across the UK and the US. To date, OakNorth’s total cumulative credit facilities have grown to £12.5bn ($15.7bn) – up from £10.2bn ($12.9bn) at the end of 2023, with an adj. return on equity (ROE)[2] of 22%. OakNorth is also ranked amongst the top 1% of banks globally in terms of return on assets (ROA)[3].OakNorth’s backing continues to be a catalyst for growth, innovation, and market leadership for its lower mid-market customers, as well as creating a positive multiplier effect in the communities and economies in which it operates. Since its launch in September 2015, its loans have directly supported the creation of over 56,000 jobs and over 34,000 new homes, the majority of which are affordable housing[4]
OakNorth, the UK challenger business bank, has reported a 15 per cent increase in pre-tax profits to £215m in 2024, driven by new lending in the UK and the US where it has recently launched. OakNorth, which is backed by SoftBank, the Japanese investment group, lends to UK businesses with between £1m and £100m in revenue and offers business banking through savings accounts and cards. The London-headquartered online lender has lent more than £12.5bn to customers since its 2015 launch