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: Enjoy equity options, 25 days holiday, and personalised benefits tailored to you.
- Other info: Dynamic team environment with opportunities for professional growth and social events.
- Why this job: Make a real impact in high-stakes situations while developing your career in finance.
- Qualifications: Strong quantity surveying experience; MRICS preferred; knowledge of construction costs essential.
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 an 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
- Personalised 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
At OakNorth, we pride ourselves on being an exceptional employer that fosters a dynamic and inclusive work culture. As a Director Monitoring Surveyor in our Workout & Restructuring team, you will benefit from a collaborative environment that encourages professional growth and offers personalised benefits tailored to your needs. With equity options, generous holiday allowances, and a focus on wellbeing, we ensure our employees are not only invested in their roles but also supported in their personal lives, making OakNorth a truly rewarding place to work.
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 relevant events, and engage on platforms like LinkedIn. We all know that sometimes it’s not just what you know, but who you know that can land you that dream role.
✨Tip Number 2
Prepare for interviews by researching the company and its projects. We want you to be able to discuss how your skills in quantity surveying can directly impact their operations. Show them you’re not just another candidate, but the right fit for their team!
✨Tip Number 3
Practice your pitch! Be ready to explain your experience with distressed assets and how you’ve tackled complex project environments. We want you to convey confidence and clarity when discussing your past roles and achievements.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets the attention it deserves. 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 🫡
Tailor Your CV:Make sure your CV is tailored to the role of Monitoring Surveyor. Highlight your quantity surveying experience and any relevant projects you've worked on, especially those involving distressed real estate. We want to see how your skills align with what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're the perfect fit for our Workout & Restructuring team. Share specific examples of how you've tackled cost risks or managed complex projects in the past. We love a good story!
Show Off Your Commercial Acumen:In your application, make sure to demonstrate your strong commercial judgement. Discuss how you've made decisions that protected capital or improved project outcomes. We’re all about making smart choices here at StudySmarter!
Apply Through Our Website:Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it gives you a chance to explore more about what we do and our culture!
How to prepare for a job interview at OakNorth
✨Know Your Numbers
As a Monitoring Surveyor, you'll need to demonstrate your deep understanding of construction costs and financial analysis. Brush up on key metrics related to cost-to-complete, cashflows, and funding integrity. Be ready to discuss specific examples from your past experience where you successfully identified overruns or under-provisioning.
✨Challenge Assumptions
This role requires you to actively interrogate borrower assumptions and contractor performance. Prepare to present scenarios where you've effectively challenged assumptions with evidence-based analysis. Think about how you can showcase your ability to assess risks and provide clear, decision-ready reporting.
✨Stakeholder Engagement
You'll be working closely with various teams, so it's crucial to show your ability to manage relationships. Prepare examples of how you've acted as a credible counterparty in previous roles. Highlight your communication skills and how you've escalated issues with clear recommendations to senior management.
✨Stay Current on Market Trends
Understanding the current market landscape is vital for this position. Research recent trends in real estate finance and restructuring, especially regarding distressed assets. Be prepared to discuss how these trends could impact your approach to cost risk and recovery strategies during the interview.
