Senior Director, Portfolio Monitoring - Real Estate

OakNorth is hiring a Senior Director, Portfolio Monitoring - Real Estate for a remote role open to applicants in United Kingdom. Level rates it ; you can apply on OakNorth.

Level's read on this job

On Level's scale, this role is Little AI ●○○○: aI is not part of the work.
The posting lists this role as remote.
Level classifies it as an executive role.
Level lists 23 other open roles at OakNorth.
The role was posted within the past week.

AI in this role

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

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.
Lead the team: manage, develop and coach a team of Directors, allocating the book, reviewing credit decisions and building capability across the team.
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.

What you’ll bring

• Extensive (10-15 Years) 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.

What we Offer

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

How we rate this

Senior Director, Portfolio Monitoring - Real Estate at OakNorth rates 36 out of 100 for how much of the daily work is AI. That makes it Little AI (AI Level 1 of 4). The level is about AI in the job, not seniority.

Classification

Little AI. AI is not part of the work.

●●●● Builds AI80 to 100
●●●○ Works on AI60 to 79
●●○○ Uses AI40 to 59
●○○○ Little AI0 to 39

Levels come from how often the tools, models and workflows of the role are named in the posting itself. Read the description and count the AI tools, models and workflows it names.