Associate Director, Savings & Deposits
London
OakNorth Bank – Operations /
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 Savings and Deposits team 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.
As Associate Director, Savings & Deposits at OakNorth, you’ll take part in leading the strategy, growth, and execution of our commercial deposits business — playing a critical role in shaping our funding strategy and expanding our relationships with the UK’s most ambitious and high-growth businesses. Sitting at the intersection of relationship banking, treasury, and product innovation, you’ll drive scalable, customer-centric deposit solutions tailored to the evolving needs of SMEs, mid-market companies, and fast-scaling ventures wishing to offer these services to their customers.
This is a high-impact role where you’ll bring a sharp commercial mindset, a passion for challenging the status quo, and the ability to thrive in a dynamic, founder-led environment — where success is measured through bold thinking, strong execution, and real commercial results.
Are you ready to step up to the challenge?
Responsibilities:
Strategy & Leadership
• Part own and drive the commercial deposits strategy, aligning with the bank’s broader liquidity, balance sheet, and commercial goals.
• Identify high-growth opportunities across sectors including healthcare, tech, professional services, and real estate.
• Work in and drive a high-performing team focused on acquisition, retention, and deepening deposit relationships.
• Serve as a thought leader and internal champion for deposit-led growth, collaborating across product, treasury, risk, and technology.
Client & Market Focus
• Act as a strategic advisor to commercial clients, understanding and solving for their cash, liquidity, and funding needs.
• Develop tailored propositions (e.g. escrow, notice accounts, structured deposit products) that appeal to CFOs and treasurers of growth companies.
• Leverage your existing network to originate new relationships and embed us within the venture ecosystem.
• Monitor market trends and competitor activity to ensure our deposit offering remains relevant and differentiated.
Product & Innovation
• Co-create innovative, tech-enabled deposit solutions in partnership with product and engineering teams.
• Ensure seamless onboarding, servicing, and digital UX that meet the expectations of modern business customers.
• Explore opportunities to integrate cash management, treasury, and ESG-linked features into deposit propositions.
• Utilizing Generative AI: Leverage GenAI tools to increase productivity and enhance decision-making processes within the role.
Commercial & Financial Ownership
• Drive and exceed targets across deposit balances, NIM, customer acquisition, and cost of funds.
• Develop commercial models and pricing frameworks in close alignment with Treasury and Finance.
• Influence and support ALM strategy through effective management of term structure and deposit mix.
Governance & Risk
• Ensure compliance with PRA, FCA, and internal governance standards including KYC/AML for commercial deposit clients.
• Work with Compliance and Risk to maintain robust frameworks as we scale.
Requirements:
- Proven track record in a similar commercial or sales role.
- Demonstrated success growing commercial deposit portfolios and building product-led customer propositions.
- Deep understanding of the needs of growth businesses, particularly in terms of banking and financial services.
- A strong network of relationships within the venture capital and private equity communities.
- Strong commercial acumen with the ability to balance client needs and sustainable unit economics.
- Demonstrated ability to build new and leverage existing relationships to achieve business targets.
- Excellent communication and interpersonal skills, with the ability to influence and persuade senior stakeholders.
- A passion for innovation and a drive to challenge the status quo in banking.
- Comfortable working in a hyper-growth, founder-led, entrepreneurial environment where success is demonstrated through commercial results.
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)
