Real Estate Construction Risk Associate

OakNorth • New York, NY

3d • Hybrid

About The Position

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. 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.

Requirements

• 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
• A sharp, hands-on understanding of construction budgets, schedules, contracts, and the real-world risks that can derail delivery
• Strong commercial instincts around lending, leverage, and cash flow
• Ability to dig into the detail, spot issues early, and turn insight into clear, practical recommendations
• Confident and credible with borrowers, consultants, and internal stakeholders
• Ability to communicate crisply
• Ability to stay highly organized under pressure
• Ability to juggle multiple fast-moving priorities
• Comfortable working across time zones and with international teams
• Excited by the pace, responsibility, and visibility that comes with supporting a growing US lending platform

Nice To Haves

• Experience as a site-based Project Manager, Owner’s Representative, or similar
• Strong understanding of construction execution, budgeting, scheduling, and contractor coordination
• Interest in developing expertise in construction lending and credit risk

Responsibilities

• 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
• 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
• 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)
• 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

Benefits

• Close to complex, high-profile real estate transactions
• 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
• Entrepreneurial, collaborative culture with genuine room to grow
• Joining a fast-growing international bank that’s actively transforming commercial lending as we scale our US platform

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed