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).
Origination of new real estate customer relationships for our core product set focussing on the Bank’s target market
Ongoing management and further development of existing customer relationships, along with identifying new relationships and property development opportunities in the market
Build a high quality portfolio of assets, with a constant focus on integrity and appropriate risk / return
Meeting team and individual targets including profit, credit quality, new customers, retention and customer satisfaction
Build OakNorth Bank’s profile in the market through proactively targeting new business
Overview of ongoing relationship management and client experience
To assess appropriate organic and inorganic growth opportunities for OakNorth Bank in the market
Build the profile of the Bank in the external market, with SMEs, property developers, KBIs, etc.
Drive innovation in the product proposition to improve customer experience and service 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
Act in accordance with OakNorth Bank’s values at all times
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
A strong background in front office, product and risk within a SME oriented Commercial Banking environment
Specialised focus in property development
In-depth understanding of SMEs and the banking environment, specifically within residential and commercial property development
Strong business development skills with good market knowledge and presence in the market
Excellent client facing manner and experience
Good understanding of business processes, strategy and credit policies
Strong credit and financial analysis skills including the ability to write good quality and structured credit reports
Capability to present a well presented credit case internally to credit committee
Strong problem solving ability
Excellent communication and customer facing skills
Strong understanding of the regulatory environment in the UK
Experience of Front Office Treasury function, treasury funding and hedging products
Demonstrable strong track record of the above and delivering targets on an individual and team basis
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.