At a Glance
- Tasks: Lead the credit risk process for ambitious trading businesses and shape funding decisions.
- Company: Join OakNorth, a mission-driven bank empowering businesses and communities since 2015.
- Benefits: Enjoy 25 days holiday, personalised benefits, enhanced parental leave, and wellbeing events.
- Other info: Dynamic team environment with opportunities to influence and grow within the bank.
- Why this job: Make impactful decisions that drive economic growth and support innovative businesses.
- Qualifications: 7+ years in credit risk or corporate lending, with strong analytical skills.
The predicted salary is between 80000 - 100000 £ per year.
About Us
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.
About The Team
Our UK Credit team sits at the heart of OakNorth’s lending business. We’re a tight‑knit group of credit professionals who work closely with Debt Finance and Credit Analytics to fund the UK’s most ambitious trading businesses. We move fast, think rigorously, and hold ourselves to a high standard — because the decisions we make shape the bank’s balance sheet and the futures of the businesses we back.
About The Role
We need a credit professional ready to move the needle on how we lend to the UK’s most ambitious trading businesses. As an Associate Director in Credit Risk, you’re not just reviewing papers — you’re the quality filter for growth. You’ll sit at the intersection of our Debt Finance and Credit Analytics teams, shaping how we structure deals across multiple sectors, making sure every decision supports the safe growth of the bank’s balance sheet.
What You’ll Do
- Own the full deal lifecycle from first credit paper to drawdown. Your analysis lands in front of Credit Committee, your voice shapes which businesses get funded, and your judgement is central to supporting the right growing businesses.
- Challenge and collaborate with Debt Finance, Credit Analytics, and senior members of the UK Credit team to produce high‑quality credit papers — pushing back when something doesn’t stack up.
- Review FDD, financial accounts, and covenant models — explain and mitigate key risks, including proposing key terms and conditions. Write focused, incisive credit recommendations for Credit Committee: clear on risk, rationale for support, and proposed structural enhancements.
- Attend Credit Committee and question borrowers directly — you’re not a silent reviewer. Oversee loan execution alongside Debt Finance and the Transaction Execution Team: security, documentation, conditions precedent, and controls.
- Support Portfolio Management with in‑life increases, extensions, covenant resets, and annual reviews. Contribute to ad hoc team and bank initiatives — including increased adoption of AI — to help OakNorth scale and reach its ambitious growth targets.
YOU’LL BE A GREAT FIT IF YOU HAVE…
- Experience: Minimum 7 years of relevant experience, of which at least 5 years in a credit risk or corporate lending role. SME cash‑flow lending is core to what the team does; experience across a range of sectors, loan types, and sponsor and leveraged finance is a real advantage.
- Technical knowledge: Strong grasp of credit risk models (RWA, PD, LGD), working capital mechanics, covenant setting, and financial analysis.
- How you work: You move fast, focus on what matters, and write with precision. You’re tenacious but pragmatic, confident challenging deal teams, and strong enough to hold a position under scrutiny.
NICE TO HAVE
Real estate lending exposure (residential development, investment, or commercial property) is welcome but not essential. What matters most is quality of credit thinking.
What we offer
- 25 days holiday
- Personalised benefits — opt in to what matters to you
- 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
Associate Director | Credit - Trading Business in Manchester employer: OakNorth
At OakNorth, we pride ourselves on being an exceptional employer that champions professional growth and a collaborative work culture. Our UK Credit team is not only integral to our mission of empowering ambitious businesses but also offers a dynamic environment where your contributions directly influence the bank's success. With personalised benefits, enhanced parental leave, and a focus on wellbeing, we ensure that our employees thrive both personally and professionally in our vibrant London office.
StudySmarter Expert Advice🤫
We think this is how you could land Associate Director | Credit - Trading Business in Manchester
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like OakNorth. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Associate Director | Credit - Trading Business in Manchester
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to OakNorth.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on OakNorth's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at OakNorth
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with OakNorth.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at OakNorth will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former OakNorth employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
