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Job Description

Director, Debt Finance

We are looking for an exceptional Director, Debt Finance who will help us achieve our growth targets for the business. Role is based in OakNorth’s London offices.

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About OakNorth

Launched in September 2015, OakNorth is a UK bank that provides fast, flexible and accessible debt finance (from £500k to £30m) to fast-growth businesses and established property developers / investors.

 

Since its launch, the bank has:

  • Turned cash flow positive in month 11 (August 2016) and repaid all its accrued debts;

  • Grown its loan book to over £1.2bn, directly helping with the creation of 5,100 new homes and 4,000 new jobs in the UK;

  • Secured £364m in investment from a number of investors, including: GIC, Toscafund, Indiabulls, Coltrane, The Clermont Group, and Indiabulls, valuing the company at almost $1.4bn;

  • Raised deposits from c.13,000 savers;

  • Won numerous awards and been recognised as one of the UK’s fastest-growing businesses being listed on both the Leap 100 (2017) and Tech City UK’s Future Fifty (2018).

 

The bank was founded by Rishi Khosla and Joel Perlman, themselves entrepreneurs who were inspired to launch OakNorth following the challenges they faced in securing debt finance from high street banks for their previous business, Copal Amba (which scaled to c.3,000 employees and was acquired by Moody’s Corporation in 2014).

 

To help fund its lending, OakNorth also offers a range of savings accounts (fixed, easy access and notice) to individuals and businesses (fixed accounts only).

Key Responsibilities

  • Origination, structuring and execution of transactions that meet the lending requirements of OakNorth

  • On-going management and further development of existing customer relationships, along with identifying new relationships and opportunities in the market

  • Build the profile of Bank in the external market with, for example SMEs, KBIs, Advisors and Private Equity firms

  • To assess appropriate organic and inorganic growth opportunities for OakNorth Bank in the market

  • Spreading of financial accounts and financial modelling

  • Analysis of financial accounts and management information and preparing credit memorandums

  • Analysis of financial models including forecasted cash flows and sensitivities to assess debt capacity and repayment

  • Ensuring transaction are documented in accordance with credit approved terms and credit sanctions

  • Meeting team and individual targets including profit, credit quality, new customers, retention and customer satisfaction

  • Overview of ongoing relationship management and client experience

  • Drive innovation in the product proposition to improve customer experience levels whilst maintaining asset quality

  • Ensuring high level of customer experience at all times

  • Meeting team and individual targets set by OakNorth ExCo, CEO and the Board

  • Structure transactions appropriately, and prove full credit reports to sanctioning authority

  • Timely reporting of all aspects of origination to Head of Business Development

  • Maintaining close relationships with customers and reporting to Credit in line with policy, in a timely manner

  • Act in accordance with OakNorth Bank’s values at all times

Key Requirements

  • A background in front office and risk within SME Commercial Banking or Leveraged Finance

  • In depth understanding of SMEs or Leveraged Finance banking environments

  • Excellent communication and customer facing sk

  • Good understanding of business processes, strategy and credit policies

  • Strong credit, financial analysis and modelling skills, including the ability to write good quality, structured credit papers

  • Experience in the analysis of senior, stretched senior and mezzanine cashflow unsecured transactions

  • Legal documentation skills

  • Experience in presenting credit case internally to a credit committee

  • Strong problem solving ability

  • Degree in Finance/Commerce or equivalent

Still want to know more?

Here are some quick facts about OakNorth

We have now helped 250 businesses across the UK achieve their growth ambitions.

In 2017, we secured a £250 investment, valuing the company at $1.4bn and making us the fastest business in European history to reach a "unicorn" valuation. 

Our loans have directly helped with the creation of over 5,000 new homes and 4,000 new jobs in the UK.

More job openings

Director, Property Finance

We are looking for an exceptional Director, Property Finance with a property development focus who will help us achieve our growth targets for the business. Role is based in OakNorth’s London offices.

Director, Debt Finance

We are looking for an exceptional Director, Debt Finance who will help us achieve our growth targets for the business. Role is based in OakNorth’s London offices.