Co-Head of Credit Risk – Real Estate

Overview

In this role you will lead real estate credit risk for OakNorth, shaping underwriting standards and the portfolio across UK markets and international growth. You will partner with Lending and Credit Risk leaders to structure transactions, sanction credit decisions, and guide the team through complex deals while maintaining sound risk judgment. You’ll drive real estate credit strategy, oversee portfolio risk, and push for practical AI/data enhancements to improve analysis and speed. You’ll work closely with cross-functional teams to scale the real estate lending business and develop future leaders.

Pay / Benefits

• Equity — stake in the business
• 25 days holiday plus personalised benefits
• Subsidised private medical insurance with Bupa
• Enhanced maternity and paternity leave
• Wellbeing and social events, Barista Bar in London office
• Volunteering time off to support causes you care about

Responsibilities

• Shape real estate credit approach across markets with senior risk colleagues
• Assist in deal structuring, ensuring alignment with risk appetite and local regulation
• Make and sanction decisions on transactions and amendments within delegated authority
• Provide clear credit feedback and manage complex/high-risk cases
• Lead the Real Estate Credit Risk teams and develop talent
• Chair or contribute to Credit Risk Committee with independent judgment
• Drive portfolio risk oversight and real estate credit appetite with scalable processes
• Promote AI/data-enabled improvements to credit analysis and workflow

Key requirements

• Substantial experience underwriting and sanctioning complex commercial real estate transactions
• Direct experience making credit decisions (not just policy work)
• Deep knowledge of real estate lending across asset classes and deal types
• Sound judgement on deal structure, sponsors, security, cash flow, and downside risk
• Experience on senior Credit Risk Committees and challenging senior colleagues
• Track record leading and developing credit teams
• Experience in UK or multiple lending markets (advantage)

• Independent credit judgment
• Commercial mindset
• Strong leadership and people development
• Underwriting and sanctioning complex CRE transactions
• Portfolio risk management
• Credit structuring and cash flow analysis

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