At a Glance
- Tasks: Lead cost and quantity surveying for distressed real estate, ensuring financial integrity.
- Company: Join OakNorth, a forward-thinking bank focused on innovative restructuring solutions.
- Benefits: Equity options, 25 days holiday, and personalised benefits to suit your lifestyle.
- Other info: Dynamic team environment with opportunities for personal and professional growth.
- Why this job: Make a real impact in challenging projects while developing your career in finance.
- Qualifications: Experience in quantity surveying and real estate finance; MRICS preferred.
The predicted salary is between 80000 - 100000 € per year.
OakNorth is looking for a commercially sharp Monitoring Surveyor to join our Workout & Restructuring team. This is a hands-on, risk-focused role with direct accountability for protecting the Bank's capital across distressed real estate exposures. The role requires deep quantity surveying experience combined with strong commercial judgement. The successful candidate will take ownership of cost risk, delivery risk and funding integrity across a portfolio of challenged real estate loans, providing clear, decision-ready analysis to senior stakeholders. This is not passive monitoring. You'll be actively interrogating cost risk, challenging borrower assumptions, and shaping recovery outcomes on complex, high-value situations. You'll report to a Senior Director within Workout & Restructuring, working closely with Credit, Legal, and Portfolio teams.
What You'll Do
- Cost & Quantity Surveying
- Lead detailed review of development budgets, appraisals, and cashflows
- Form independent, evidence-based views on cost-to-complete — including downside scenarios
- Identify overruns, under-provisioning, and contingency gaps
- Challenge borrower and contractor assumptions with evidence based analysis
- Assess value engineering opportunities without compromising asset value or exit value
- Review procurement strategies, contract structures (JCT/NEC), and drawdown requests
- Review and validate drawdown requests, interim valuations, and payment certifications
- Project & Delivery Risk
- Monitor progress against programme, milestones, and funding triggers
- Identify delivery risks including contractor performance, delays, and technical issues
- Assess contractor performance, buildability, and practical completion risk
- Provide clear, decision-ready reporting on project status and required interventions
- Workout & Restructuring
- Support enforcement scenarios including step-in, contractor replacement, and project stabilisation
- Advise on options to complete, restructure, refinance, or dispose of assets
- Input into asset-level business plans and recovery strategies
- Work on partially completed, stalled, or non-performing developments
- Other types of real estate assets that require a surveyor’s input
- Credit Support
- Provide technical input into credit papers, amendments, and restructuring proposals
- Connect construction cost analysis directly to loan exposure, LTV, and recovery outcomes
- Support sensitivity analysis on cost inflation, delays, and exit values
- Stakeholder Management
- Act as a credible counterparty to sponsors, developers, and professional teams
- Manage and challenge external monitoring surveyors and consultants
- Work closely with Workout & Restructuring, Credit and Legal teams
- Escalate issues early with clear recommendations
- Present strategies and updates to Credit Committee and senior management
What We're Looking For
- Strong track record in quantity surveying and/or monitoring surveying
- Experience in real estate finance, restructuring, or complex project environments
- Exposure to distressed or underperforming assets is a real advantage
- Deep knowledge of construction costs, procurement, and contract management (JCT/NEC)
- Ability to assess incomplete or poor-quality information and form robust conclusions
- MRICS qualified (preferred), degree in Quantity Surveying or related discipline
Benefits & Perks
- Equity. We want people to have a stake in the business so that all our interests are aligned.
- 25 days holiday
- Personalized benefits – opt-in to what matters to you
- Subsidised Private Medical Insurance with Bupa
- Enhanced maternity and paternity leave
- Wellbeing and social events
- In-house Barista Bar in London office
- Support causes that matter to you – Volunteering time off
- Salary sacrifice schemes (Cycle to work, nursery, gym, electric car scheme)
Director Monitoring Surveyor – Workout & Restructuring employer: OakNorth Analytical Intelligence
At OakNorth, we pride ourselves on being an exceptional employer that values the expertise and contributions of our team members. As a Director Monitoring Surveyor in our Workout & Restructuring team, you will enjoy a dynamic work culture that fosters collaboration and innovation, alongside competitive benefits such as equity participation, personalised perks, and comprehensive wellbeing support. Our commitment to employee growth is evident through opportunities for professional development and meaningful engagement with senior stakeholders, making this role not just a job, but a rewarding career path in the heart of London.
Contact Detail:
OakNorth Analytical Intelligence Recruiting Team
StudySmarter Expert Advice🤫
We think this is how you could land Director Monitoring Surveyor – Workout & Restructuring
✨Tip Number 1
Network like a pro! Reach out to industry contacts, attend events, and join relevant groups. The more people you know, the better your chances of landing that dream role.
✨Tip Number 2
Prepare for interviews by researching the company and its projects. Be ready to discuss how your skills in quantity surveying can directly impact their success, especially in challenging situations.
✨Tip Number 3
Showcase your problem-solving skills! During interviews, share examples of how you've tackled complex issues in past roles. This will demonstrate your ability to handle the high-stakes environment at OakNorth.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive about joining our team.
We think you need these skills to ace Director Monitoring Surveyor – Workout & Restructuring
Some tips for your application 🫡
Show Your Experience:Make sure to highlight your quantity surveying experience in your application. We want to see how you've tackled cost risks and delivery challenges in the past, so don’t hold back on those details!
Be Specific About Your Skills:When you’re writing your application, be specific about your skills in procurement and contract management. We love candidates who can demonstrate a deep understanding of JCT/NEC contracts and how they apply to real estate finance.
Tailor Your Application:Don’t just send a generic application! Tailor it to reflect the responsibilities and requirements mentioned in the job description. Show us how your background aligns with what we’re looking for in the Workout & Restructuring team.
Apply Through Our Website:We encourage you to apply through our website for a smoother process. It helps us keep track of your application and ensures you don’t miss out on any important updates from us!
How to prepare for a job interview at OakNorth Analytical Intelligence
✨Know Your Numbers
As a Monitoring Surveyor, you'll need to demonstrate your deep understanding of construction costs and financial metrics. Brush up on key figures related to cost-to-complete, cashflows, and potential overruns. Be ready to discuss how you would approach challenging borrower assumptions with evidence-based analysis.
✨Showcase Your Experience
Highlight your track record in quantity surveying and any relevant experience in real estate finance or restructuring. Prepare specific examples of past projects where you've successfully managed delivery risks or provided clear, decision-ready reporting. This will show that you can handle the complexities of distressed assets.
✨Prepare for Stakeholder Scenarios
Expect questions about how you would manage relationships with sponsors, developers, and external consultants. Think of scenarios where you've had to challenge assumptions or escalate issues effectively. Being able to articulate your approach to stakeholder management will set you apart.
✨Understand the Bigger Picture
Familiarise yourself with the broader context of Workout & Restructuring. Be prepared to discuss how your role as a Monitoring Surveyor fits into the overall strategy of protecting the Bank's capital. Showing that you understand the implications of your work on recovery outcomes will impress the interviewers.
