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OakNorth
Senior Director / Director Portfolio Monitoring - Real Estate
London On-site 10+ yrs exp Financial Services 681 employees
UK Real Estate LendingPortfolio ManagementCredit Risk ManagementCredit AppraisalFinancial Analysis
Requirements
Extensive UK real estate lending or portfolio management experience across investment and development is required, ideally across multiple sectors, with experience or strong understanding of lender finance, revolving credit, or loan-on-loan facilities. Candidates should bring strong credit analysis and modelling skills, familiarity with LMA documentation, distressed-credit and restructuring experience, and confidence negotiating and presenting to senior stakeholders.
Job Description
About Us
At OakNorth, we're on a mission to empower the UK's most ambitious businesses. 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 fuelling the UK economy. This is an exciting opportunity to join a dynamic, fast-growing bank known for challenging the status quo. We're not looking for just another cog in the wheel — we want bold thinkers and proactive self-starters who are eager to shape their own careers while supporting the UK's most driven business leaders.
The role:
You will manage a book of complex real estate and property-backed loans, owning both the customer relationship and the post-origination credit risk, including customers showing early signs of financial distress. You will work with an analyst team based in India.
The portfolio:
Sectors: residential and commercial real estate (investment and development), student accommodation, co-living and retirement living, and property-backed hotel and healthcare loans
Facilities: investment, transitional, development and buy-to-let loans, and lender finance, including revolving credit facilities (RCFs) and loan-on-loan facilities to real estate lenders
Loan sizes: typically £1m to £50m
What You’ll Do
At OakNorth, we're on a mission to empower the UK's most ambitious businesses. 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 fuelling the UK economy. This is an exciting opportunity to join a dynamic, fast-growing bank known for challenging the status quo. We're not looking for just another cog in the wheel — we want bold thinkers and proactive self-starters who are eager to shape their own careers while supporting the UK's most driven business leaders.
The role:
You will manage a book of complex real estate and property-backed loans, owning both the customer relationship and the post-origination credit risk, including customers showing early signs of financial distress. You will work with an analyst team based in India.
The portfolio:
Sectors: residential and commercial real estate (investment and development), student accommodation, co-living and retirement living, and property-backed hotel and healthcare loans
Facilities: investment, transitional, development and buy-to-let loans, and lender finance, including revolving credit facilities (RCFs) and loan-on-loan facilities to real estate lenders
Loan sizes: typically £1m to £50m
What You’ll Do
- Monitor the book: annual reviews, quarterly covenant testing, early warning signs and forward-looking stress testing. On investment loans, track rent, occupancy, interest cover, valuation and refinance risk; on development loans, assess drawdowns against monthly monitoring surveyor reports, cost to complete, programme and exit.
- Manage RCFs and loan-on-loan facilities: approve new underlying loans against agreed criteria and monitor look-through LTV and interest cover, arrears and defaults across the underlying book, and the Bank’s security over the underlying real estate.
- Make in-life credit decisions: approve drawdowns, annual reviews, valuations, waivers consents and extensions within your delegated authority and recommend those above it.
- Manage distress: spot underperformance early, agree a clear strategy and lead negotiations with borrowers, sponsors and advisers on waivers, amendments, extensions and restructures, returning loans to standard or exiting without impairment.
- Present to credit committee: review and recommend credit papers and present them verbally, defending recommendations under challenge.
- Work with the India analyst team: direct day-to-day work, review outputs ,coach analysts and work across time zones/georgaphies.
- Professional engagement: Hands on engagement with external professional advisors legal, valuers, PMS etc.
- Work with AI: use the Bank’s approved AI tools day to day and help find step changes in how the book is managed.
- Extensive UK real estate lending or portfolio management experience across investment and development, ideally at a bank or specialist lender and in more than one sector.
- Experience of revolving credit, loan-on-loan or lender finance facilities, or a strong working understanding of how they are structured and monitored.
- Strong credit appraisal, financial analysis and modelling skills; comfortable with LMA documentation.
- Experience of managing underperforming and distressed credits, with a working knowledge of restructuring and insolvency.
- A track record of negotiating confidently and presenting clearly, both verbally and in writing, to senior stakeholders and credit committees.
- Actively looking for opportunities to grow back book; cross selling bank offering
- Openness to AI and new ways of working.
- 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
Skills
UK Real Estate LendingPortfolio ManagementCredit Risk ManagementCredit AppraisalFinancial AnalysisFinancial ModellingCovenant MonitoringStress TestingRevolving Credit FacilitiesLoan-on-Loan FacilitiesDistressed Credit ManagementRestructuringInsolvencyCredit Committee PresentationsNegotiationLMA Documentation
About OakNorth
The digital bank for entrepreneurs, by entrepreneurs. We provide bespoke credit and banking services to businesses with £1m-£100m turnover across the UK and US. With funding ranging from £1m to tens of millions, we have lent billions to businesses across a whole range of sectors, performing among the top 1% of commercial banks globally. To date, OakNorth financing has helped create tens of thousands of new jobs and affordable homes.
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