Real Estate Construction Risk Associate

At OakNorth, we're on a mission to empower ambitious businesses and the communities they serve. Since 2015, we've lent over $21 billion across the UK and US, helped create more than 58,000 new homes and 36,000 new jobs, and supported hundreds of thousands of personal savers — all while driving economic growth in the markets we serve.

We're a digital bank built to serve the lower mid-market — supporting ambitious, growing businesses with fast, flexible, and data-driven lending solutions. Since inception, OakNorth has deployed billions of dollars of credit to scaling businesses and property developers across multiple sectors, helping create jobs and economic growth. As we continue to expand our US lending platform, we are looking for a Construction Risk Associate to support the monitoring and execution of construction and refurbishment loans across the portfolio.

Role overview

You’ll sit at the intersection of real estate, construction, and credit risk — combining hands-on construction knowledge with commercial lending exposure. You’ll work closely with borrowers, project teams, third-party consultants, and internal credit partners to ensure projects stay on budget, on schedule, and within approved lending parameters, while proactively identifying and resolving construction-related risks.

Key responsibilities

Construction monitoring & site oversight

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Conduct site visits to validate construction progress vs. approved budgets and schedules

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Monitor active construction and refurbishment projects across the loan portfolio

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Identify delays, budget overruns, and issues outside normal lending parameters

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Escalate material concerns and provide clear recommendations to internal stakeholders

Draw process & loan administration

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Review and process construction draw requests and requisition packages

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Coordinate with borrowers, project teams, and third-party consultants to resolve outstanding items quickly

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Verify hard and soft costs not fully covered within third-party engineer reports

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Ensure advances align with approved budgets, timelines, and lending conditions

Credit & deal support

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Support new lending opportunities by assessing construction-related risks

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Contribute to underwriting discussions beyond basic report review

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Partner closely with credit, portfolio management, and deal teams throughout the loan lifecycle

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Attend Credit Risk Management Committee (CRMC)

Stakeholder management

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Build strong working relationships with borrowers, contractors, consultants, and internal teams

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Communicate proactively on emerging risks and project performance

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Drive issues through to resolution with a practical, solutions-oriented approach

Required experience & qualifications

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3+ years’ experience in a third-party engineering consultancy, construction advisory firm, or similar

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Exposure to multiple sites, project types, and development scenarios

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Familiarity working with lenders, construction financing structures, and draw processes

We'd still like to hear from you if you have

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Experience as a site-based Project Manager, Owner’s Representative, or similar

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Strong understanding of construction execution, budgeting, scheduling, and contractor coordination

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Interest in developing expertise in construction lending and credit risk

Skills & competencies

You’ll bring a sharp, hands-on understanding of construction budgets, schedules, contracts, and the real-world risks that can derail delivery — and you’ll pair it with strong commercial instincts around lending, leverage, and cash flow. You’re someone who enjoys digging into the detail, spotting issues early, and turning insight into clear, practical recommendations. Confident and credible with borrowers, consultants, and internal stakeholders, you communicate crisply, stay highly organized under pressure, and can juggle multiple fast-moving priorities. You’re also comfortable working across time zones and with international teams — and you’re excited by the pace, responsibility, and visibility that comes with supporting a growing US lending platform.

Why OakNorth

You'll be close to complex, high-profile real estate transactions. You’ll build rare, marketable experience across both construction oversight and credit risk, working end-to-end through the loan lifecycle alongside high-calibre banking, real estate, and credit professionals. OakNorth combines an entrepreneurial, collaborative culture with genuine room to grow, and you’ll be joining a fast-growing international bank that’s actively transforming commercial lending as we scale our US platform.

Location

New York, NY (hybrid: 4 days/week in-office). Regular travel required across the US portfolio for site visits, project meetings, and borrower engagement.