OakNorth Bank (the “Bank”) is a new fast-growing bank in the UK. While the balance sheet is less complex than larger banks, the Bank, as a CRDV firm, is subject to full suite of regulatory returns as follows:
o COREP
o FINREP
o PRA/FSA and FCA returns
o BOE returns
We are also planning to implement a new end to end regulatory reporting system for all our regulatory reporting requirements. The Vendor has been finalised and the implementation is expected to start from June’23. We are looking for a candidate who can also drive this project and fulfil the key responsibilities required for the role.
Therefore, learning all the regulatory returns across capital, liquidity and leverage is the key opportunity in this role.
·The Regulatory reporting team is also responsible for daily liquidity reporting, ALCO reporting and IRRBB reporting to support Treasury balance sheet management activities.
·The Bank’s products are diversified, and a number of new product launches continue- the candidate will be driven to research regulatory impact and provide inputs into new product development.
· We are a small team and therefore the role offers opportunity -
o to closely work with individuals across all levels, teams and locations and to build the team as the Bank grows.
o build experience in a number of regulatory areas such as liquidity, credit, interest rate risk, treasury and other balance sheet reporting
o learn a lot about new products – as the Bank is working on a number of initiatives for the growth phase
o be involved in a number of cross functional projects.
About Us
We’re OakNorth Bank and we embolden entrepreneurs to realise their ambitions, understand their markets, and apply data intelligence to everyday decisions to scale successfully at pace.
Banking should be barrier-free. It’s a belief at our very core, inspired by our entrepreneurial spirit, driven by the unmet financial needs of millions, and delivered by our data-driven tools.
And for those who love helping businesses thrive? Our savings accounts help diversify the high street and create new jobs, all while earning savers some of the highest interest on the market.
But we go beyond finance, to empower our people, encourage professional growth and create an environment where everyone can thrive. We strive to create an inclusive and diverse workplace where people can be themselves and succeed.
Our story
OakNorth Bank was built on the foundations of frustrations with old-school banking. In 2005, when our founders tried to get capital for their data analytics company, the computer said ‘no’. Unfortunately, all major banks in the UK were using the same computer – and it was broken.
Why was it so difficult for a profitable business with impressive cashflow, retained clients, and clear commercial success to get a loan?
The industry was backward-looking and too focused on historic financials, rather than future potential.
So, what if there was a bank, founded by entrepreneurs, for entrepreneurs? One that offered a dramatically better borrowing experience for businesses?
No more what ifs, OakNorth Bank exists.