Real Estate Construction Risk Associate

OakNorth

Job Location:

New York City, NY - USA

Monthly Salary: Not Disclosed

Posted on: Yesterday

Vacancies: 1 Vacancy

Job Summary

At OakNorth were on a mission to empower ambitious businesses and the communities they serve. Since 2015 weve lent over $21 billion across the UK and US helped create more than 58000 new homes and 36000 new jobs and supported hundreds of thousands of personal savers all while driving economic growth in the markets we serve.

Were 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

Youll sit at the intersection of real estate construction and credit risk combining hands-on construction knowledge with commercial lending exposure. Youll 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

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

Monitor active construction and refurbishment projects across the loan portfolio

Identify delays budget overruns and issues outside normal lending parameters

Escalate material concerns and provide clear recommendations to internal stakeholders

Draw process & loan administration

Review and process construction draw requests and requisition packages

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

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

Ensure advances align with approved budgets timelines and lending conditions

Credit & deal support

Support new lending opportunities by assessing construction-related risks

Contribute to underwriting discussions beyond basic report review

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

Attend Credit Risk Management Committee (CRMC)

Stakeholder management

Build strong working relationships with borrowers contractors consultants and internal teams

Communicate proactively on emerging risks and project performance

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

Required experience & qualifications

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

Exposure to multiple sites project types and development scenarios

Familiarity working with lenders construction financing structures and draw processes

Wed still like to hear from you if you have

Experience as a site-based Project Manager Owners Representative or similar

Strong understanding of construction execution budgeting scheduling and contractor coordination

Interest in developing expertise in construction lending and credit risk

Skills & competencies

Youll bring a sharp hands-on understanding of construction budgets schedules contracts and the real-world risks that can derail delivery and youll pair it with strong commercial instincts around lending leverage and cash flow. Youre 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. Youre also comfortable working across time zones and with international teams and youre excited by the pace responsibility and visibility that comes with supporting a growing US lending platform.

Why OakNorth

Youll be close to complex high-profile real estate transactions. Youll 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 culturewith genuine room to grow and youll be joining a fast-growing international bankthats 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.

$120000 - $150000 a year

We may use artificial intelligence (AI) tools to support parts of the hiring process such as reviewing applications analyzing resumes or assessing responses. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed please contact us.

Required Experience: