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.
• Developing/ Maintaining/Validating internal credit risk models – PD/LGD/EAD/IFRS9.
• Calculating provisions for the bank, participating in periodic ICAAP and stress testing exercises and submission.
• Liaising with multiple teams and various business units across the firm for different risk management and stress testing initiatives.
• Coding in SAS/R/Python to enhance the current models and automating the processes.
• Analyzing, explaining and documenting the models and their results.
• Assisting in research, modelling and development for refinement of the current credit risk framework.
• Communicating with stakeholders, internal audit, model validation, regulatory agencies and responding to their requests on a timely and accurate basis.
• 2-6 years of relevant experience at a financial institution or a consulting firm, preferably on a Quant/ Data Science role in a data-rich environment.
• Preferably Master’s degree in a quantitative field such as Statistics, Mathematics, Operations Research, Economics, or Finance, or equivalent.
• Experienced in developing/validating credit risk - PD/LGD/EAD/Stress testing models.
• Experienced in provisioning as per IFRS9 implementation for banks.
• Proficiency in programming and Advanced Statistical Techniques – R/SAS/Advanced excel.
• Analytical thinking, quantitative abilities and problem solving skills.
• Understanding of risk management concepts like Stress-Testing, regulatory frameworks for Risk Management.
• Attention to detail and ability to prioritize projects and workload.
• Self-motivated team player who brings a “can-do” approach.
• Ability to work well under pressure in a fast-paced team-oriented environment.
• Strong communication skills; ability to present complex and technical issues clearly, both verbally and in writing.
• CFA/FRM will be an added advantage.
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.