At a Glance
- Tasks: Lead cost and quantity surveying for distressed real estate, ensuring financial integrity.
- Company: Join OakNorth, a mission-driven bank empowering businesses and communities.
- Benefits: Equity options, 25 days holiday, private medical insurance, and personalised benefits.
- Other info: Dynamic role with opportunities for professional growth and community engagement.
- Why this job: Make a real impact in real estate finance while shaping recovery strategies.
- 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 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
Why OakNorth
At OakNorth, we're on a mission to empower ambitious businesses and the communities they serve. 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 driving economic growth in the markets we serve.
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)
We may use artificial intelligence (AI) tools to support parts of the hiring process, such as reviewing applications, analyzing resumes, or assessing responses. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed, please contact us.
Director Monitoring Surveyor – Workout & Restructuring in London employer: OakNorth
At OakNorth, we pride ourselves on being an exceptional employer that champions professional growth and a collaborative work culture. Our commitment to empowering our employees is reflected in our generous benefits package, including equity options, personalised perks, and a focus on wellbeing through social events and volunteering opportunities. Located in the vibrant city of London, our team thrives in a dynamic environment where innovative thinking and meaningful contributions are not only encouraged but celebrated.
StudySmarter Expert Advice🤫
We think this is how you could land Director Monitoring Surveyor – Workout & Restructuring in London
✨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 Director Monitoring Surveyor role.
✨Tip Number 2
Prepare for interviews by researching OakNorth and understanding their values. Be ready to discuss how your experience in quantity surveying aligns with their mission and the specific challenges they face in distressed real estate.
✨Tip Number 3
Showcase your problem-solving skills! Be prepared to share examples of how you've tackled complex project issues or improved cost management in previous roles. This will demonstrate your hands-on approach and commercial judgement.
✨Tip Number 4
Apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows you're genuinely interested in joining the OakNorth team and contributing to their success.
We think you need these skills to ace Director Monitoring Surveyor – Workout & Restructuring in London
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 that showcase your commercial judgement and risk management skills.
Craft a Compelling Cover Letter:Your cover letter should tell us why you're the perfect fit for our Workout & Restructuring team. Share specific examples of how you've tackled cost risks or delivery challenges in past roles, and don’t forget to show your passion for real estate finance!
Showcase Your Stakeholder Management Skills:In your application, emphasise your experience in managing relationships with sponsors, developers, and other stakeholders. We want to see how you’ve effectively communicated complex information and influenced decision-making in high-pressure situations.
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows us you’re keen to be part of the OakNorth family!
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 potential overruns. Be ready to discuss specific examples from your past experience where you successfully identified and mitigated financial risks.
✨Challenge Assumptions
In this role, you'll be expected to actively interrogate borrower assumptions and contractor performance. Prepare to present evidence-based arguments that showcase your ability to challenge the status quo. Think of scenarios where you’ve had to push back on assumptions and how you navigated those discussions.
✨Showcase Stakeholder Management Skills
You'll be working closely with various teams, so it's crucial to highlight your experience in stakeholder management. Prepare anecdotes that illustrate how you've effectively communicated complex information to senior stakeholders and managed external consultants. This will show your ability to act as a credible counterparty.
✨Be Ready for Scenario Questions
Expect questions about how you would handle specific situations, such as project delays or contractor issues. Think through potential scenarios related to distressed assets and prepare your thought process on how you would approach these challenges. This will demonstrate your proactive mindset and problem-solving skills.
