Assistant Manager at OakNorth
Views:4156 Applications:968 Rec. Actions:Recruiter Actions:261
OakNorth Bank - Associate Director - Credit Research - UK Lending Business (11-17 yrs)
With offices in London, New York, Singapore, Gurgaon, and Berlin, OakNorth's mission is to enable small and medium-sized businesses to obtain the debt finance they need to grow. Our fintech platform (OakNorth Analytical Intelligence), which we developed to address this problem, is being used by a number of leading banks around the world, and by us in the UK via our own balance sheet lending.
To date in the UK, the platform has helped us lend over $2.2bn in the past 3 years, with 0 credit issues. Globally, the plat-form has been deployed at various banks across North America, Europe, and Asia with $5bn of assets under management.
OakNorth was set up 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 175 times capital to seed investors.
Since its inception, OakNorth has secured $1 B from several investors, including: SoftBank, GIC, Coltrane, Clermont Group, NIBC, EDBI of Singapore, Toscafund, and Indiabulls.
OakNorth India is a core contributor to our mission of changing SME lending globally for growth companies. The team, based out of our offices in Gurgaon and Bangalore, constitute some of the best credit analysts in India along with a team of engineers and data scientists who integrate into a global product team - all focused on developing the OakNorth Analytical Intelligence platform which is revolutionising customised mid-market lending globally. Today, the platform is being used by banks across Europe, North America and Asia, who have combined balance sheets in excess of $800bn.
In the UK, the platform has helped us build a profitable loan book of over $2.3bn with no defaults to date. In terms of the impact this has had on the economy, our loans have directly helped with the creation of 9,500 new homes and 11,000 new jobs in the UK, as well as adding several billion pounds to the economy.
Today, the team is made up of 200 people and we plan to scale it to 300 people by Q2 next year with a particular focus on building out our credit teams.
Visit www.oaknorth.com for more information.
JOB RESPONSIBILITIES -
- Overseeing the credit research team for UK lending business to ensure quality and on time delivery
- Setting up the right processes to ensure accuracy and analytical rigor in the deliverables
- Managing team motivation, training and career paths to ensure high performance
- Managing relationships with Debt Finance Origination team in the UK
- Conducting detailed analysis of loan opportunities across various sectors in different geographies by integrating machine learning and data analytics with traditional financial analysis techniques
- Developing detailed credit model comprising deal details, financial statement analysis, projections, credit metrics, amongst others
- Conducting sensitivity and scenario analysis on projections - for stress testing on loans for serviceability
- Identifying deal specific covenants which can act as early warning signals while monitoring loans
- Drafting credit reports with key takeaways on opportunity; report is in concise, easy to read format for credit committee to review and comment
- Creating industry dashboards to act as reference point for loans to particular sector / sub-sector
- Detailed industry/market studies to understand operating environment of borrower
- Financial / credit modelling
- Diligence on company / sectors
- Credit paper writing and credit reviews
- Covenant analysis and setting
- Review and analysis of customer assumptions / budgets / forecasts
- Benchmarking companies against its peers in the industry
- Scenario analysis and stress testing of assumptions
- Personal drive (proactive), flexible, creative (thinks out of the box), result driven, responsible, curious, team player and fast learner
- Hands on attitude, willing/capable to understand the big picture.
- Ability to succeed in a culture where change and speed are part of daily work.