OakNorth is the next-generation credit and monitoring platform that provides banks and lending institutions with the insight and foresight needed to create a better borrowing experience for the Missing Middle – the growth business who are the backbones of communities and economies globally but who have been in banking’s blind spot for decades. The business was founded in 2015 by Rishi Khosla and Joel Perlman, who previously co-founded Copal Amba and grew it to 3,000 employees over 12 years, before selling it to Moody’s (NYSE: MCO) in 2014, returning 125 times capital to seed investors.Since its inception, OakNorth has secured over $1bn from several investors, including: Clermont Group, Coltrane, EDBI of Singapore, GIC, Indiabulls, NIBC, Toscafund, and SoftBank’s Vision Fund.The Platform has been deployed at various banks across North America, Europe, and Asia, and in the UK where OakNorth lends off of its own balance sheet via OakNorth Bank. The platform has helped OakNorth Bank become the fastest-growing business in Europe according to the Financial Times FT 1000 (2020),profitably lending over £4bn to date. In terms of the impact this has had on the economy, OakNorth Bank’s loans have directly helped with the creation of 13,000 new homes and 17,000 new jobs in the UK, as well as adding several billion pounds to the economy. With offices in London, New York, Manchester, Singapore, Hong Kong, Shanghai, Istanbul, Gurgaon and Bangalore, the global team across the OakNorth Holdings group is over 800 people.Job Responsibilities:Ø End-to-end underwriting and monitoring of commercial real estate (CRE) loans from all categories i.e. development, marketing, investment Ø Building valuation models for comps-based property valuation, gross development value, construction estimates, residual value analysis, as applicableØ Leveraging and reviewing documents such as loan application, property level income statements, borrower financials, valuation reports, borrower estimates, etc.Ø Conducting market analysis (vacancy rate, rentals, movement, depth of transaction etc.) to understand impact on external factors on property valuation and loan serviceability Ø Conducting sensitivity and scenario analysis for stress testing the loans for serviceability and recommending covenantsØ Creating industry dashboards to act as reference point for loans in particular sub-sectorsØ Helping business development managers with opportunity prospectingØ Working effectively as an individual contributor, or as a team lead whilst sharing responsibility, maintaining communication and delivering on-time credit reportsØ Training and guiding team membersDesired Skills:Ø Financial / credit modelling with alternate valuation methodsØ Review and analyse borrower assumptions / budgets/ forecastsØ Scenario analysis and stress testingØ Knowledge of real estate industry and relevant databasesØ Credit paper writing and credit reviewsØ Process improvement and automationØ Covenant analysis and settingKey Attributes:Ø Timely, proactive, flexible, creative (thinks out of the box),result driven, responsible, curious, team player and fast learnerØ Hands on attitude, willing/capable to understand the big picture.Ø Willingness to succeed in a culture where change and speed are part of daily workØ Commercial drive with excellent communication skillsAcademic Qualification and Experience:MBA/PGDM/CA/CFA from a reputed institute with experience in credit/ financial analysis (with real estate focus) and report writing.Thank you very much for your interest in OakNorth. We are happy to consider you for roles within our group of companies. If we can identify a match between your skill set and our immediate recruiting needs, please expect to hear from us very soon. If we are unable to identify a fit in the near term, please note that we intend to retain the data you send to us so we may contact you in the future. For more information regarding our Privacy Policy and practices
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