Credit Quality & Model Risk Director
London
OakNorth Bank – Risk and Compliance /
Permanent - Full Time /
Hybrid
Since 2015, we’ve backed entrepreneurs with over £13bn in funding, helping create 56,000+ jobs and 34,000+ new homes across the UK and US. We’re dedicated to helping trailblazing businesses thrive and our Risk and Compliance are integral to our growth.
This is a fantastic opportunity to join a fast-paced, growing bank with a reputation for doing things differently. We don’t want another cog in the machine, we’re looking for self-starters and bold thinkers who want to pave their own career paths and are passionate about supporting the UK’s best and brightest businesspeople.
The Credit Quality & Model Risk Director sits in the second line Risk function, providing the bank clear assurance on credit quality, model-risk control, and provision accuracy. If you have credit and model risk expertise, thrive on challenge, and want to help scale a bank that really matters, this is your chance to shape the future of risk assurance in a PRA-regulated environment.
The role requires someone who can build strong relationships and maintain credibility with senior stakeholders and lead complex second line reviews in a fast-moving environment.
Are you ready to step up to the challenge?
Responsibilities:
Leadership & Oversight
• Own and deliver a credit quality assurance plan focused on thematic reviews.
• Oversee and develop the Model Risk Framework across the bank (credit and financial).
• Lead second line input to IFRS9 provisioning and stress testing.
• Lead and develop the team that delivers credit quality, model risk, and provisioning objectives.
Risk & Regulatory Management
• Design and Implement credit quality management information to aid a data-led approach to second line oversight.
• Maintain and enhance the Model Risk Management Framework.
• Provide independent assurance over internal Credit Policies and new product proposals.
People & Culture
• Foster a culture of healthy challenge, transparency, and continuous learning across first and second lines.
• Act as a role model for a pro-active, evidence-based, values-led approach.
• Manage and coach an India-based SVP.
Innovation
• Drive automation and data-led testing to sharpen insight and efficiency.
• Champion continuous improvement in methodology, documentation, and governance.
• Utilizing Generative AI: Leverage GenAI tools to increase productivity and enhance decision-making processes within the role.
Requirements:
- 10+ years in credit risk and/or model risk within PRA-regulated banks
- Advanced analytics skills; able to turn data into insight
- Credible communicator up to senior executive level, translating complex issues into plain English
- Proven record of running assurance programmes and driving remediation to completion
- Strong command of IFRS 9 and stress-testing
- Leadership experience across multi-location teams
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)
