OakNorth - Vice President - Commercial Credit Analysis - Real Estate (8-13 yrs)
With offices in London, New York, Singapore, Istanbul, Gurgaon, Bangalore and Shenzhen, OakNorth's mission is to enable growth businesses to obtain the debt finance needed by entrepreneurs to pursue their ambitions. Our fintech platform, which we developed to address this
problem is being used by number of leading banks around the world, and by us in the UK via our own balance sheet lending.
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 125 times capital to seed investors.
Since its inception, the OakNorth Holdings group has secured over $1bn from several investors including Clermont Group, Coltrane, EDBI of Singapore, GIC, Indiabulls, NIBC, Toscafund, and SoftBank Vision Fund.
In the UK, the platform has helped us build a profitable loan book of over $3bn with no defaults to date. Globally, the platform has been deployed at various banks across North America, Europe, and Asia with $6bn of assets under management. 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.
Our CEO has been featured in Forbes recently :http://www.forbesindia.com/article/real-issue/what- excites-me-most-is-that-we-have-a-profitable-unicorn-rishi-khosla/52261/1
- End-to-end underwriting and monitoring of commercial real estate (CRE) loans from all categories i.e. development, marketing, investment
- Building valuation models for comps based property valuation, gross development value, construction estimates, residual value analysis, as applicable
- Leveraging and reviewing documents such as loan application, property level income statements, borrower financials, valuation reports, borrower estimates, etc.
- Conducting market analysis (vacancy rate, rentals, movement, depth of transaction etc.) to understand impact on external factors on property valuation and loan serviceability
- Conducting sensitivity and scenario analysis for stress testing the loans for serviceability and recommending covenants
- Creating industry dashboards to act as reference point for loans in particular sub-sectors
- Helping business development managers with opportunity prospecting
- Managing client communication while aligning the team of analysts to ensure seamless delivery while training and guiding team members
- Financial / credit modelling with alternate valuation methods
- Review and analyse borrower assumptions / budgets/ forecasts
- Scenario analysis and stress testing
- Knowledge of real estate industry and relevant databases
- Credit paper writing and credit reviews
- Process improvement and automation
- Covenant analysis and setting
- Team management
- Timely, 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.
- Willingness to succeed in a culture where change and speed are part of daily work
- Commercial drive with excellent communication skills
Academic Qualification and Experience:
MBA/PGDM/CA/CFA from a reputed institute with 8-12 years of experience in credit/ financial analysis (with real estate focus), report writing and team management.