Since our launch in 2015, we’ve lent over £15bn to ambitious entrepreneurs up and down the UK. That’s led to the creation of over 61,000 new jobs and over 36,000 new homes – and we’re not about to stop there.
This is a fantastic opportunity to join a fast-paced, growing bank with a reputation for doing things differently. We don’t want another cog in the machine,we’re looking for self-starters and bold thinkers who want to pave their own career paths.
Are you ready to step up to the challenge?
The Insurance Expert is responsible for providing comprehensive insurance guidance, analysis, and strategic support to OakNorth and its borrowers. This role encompasses setting and maintaining insurance policies across all lending products, performing risk assessments, analysing policies, and ensuring full regulatory compliance. The Insurance Expert will act as OakNorth’s central authority on insurance, delivering tailored solutions that minimise risk, maximise coverage, and align with both commercial objectives and compliance requirements.
This opportunity is open to both full-time and part-time professionals, with flexible working arrangements available. We welcome applications from individuals who can dedicate around 25–30 hours per week, as well as those seeking to re-enter the workforce after a career break and looking for a gradual return to professional life. If you have the right experience and expertise but prefer a reduced or flexible schedule, we encourage you to apply — we value skill, insight, and contribution over rigid working patterns.
Key Responsibilities
1. Policy Setting and Governance
Set and oversee OakNorth’s insurance requirements across all lending products, including:
Real Estate Investment
Real Estate Development
Trading businesses (e.g., hotels, care homes, and other corporates)
Loan-on-loan facilities
Develop, update, and maintain OakNorth’s internal insurance templates, policies, and review checklists for sign-off.
Own all insurance products required or procured by the bank, ensuring adequate and appropriate coverage at all times.
2. Insurance Consultation and Advisory
Provide expert advice and consultation to OakNorth and its borrowers on all insurance matters.
Assess borrowers’ insurance needs to recommend suitable and cost-effective policies.
Advise the Credit team on ongoing market positions, standard coverage expectations, and acceptable risk levels.
Offer guidance on insurance terms, coverage limits, exclusions, and conditions across various lending structures.
3. Policy Review and Analysis
Review and analyse insurance policies to ensure they align with OakNorth’s credit requirements and risk appetite.
Identify coverage gaps or deficiencies and recommend policy amendments or additional protections.
Evaluate complex insurance positions in live transactions, providing actionable advice to internal stakeholders.
4. Risk Assessment and Mitigation
Conduct thorough risk assessments to identify potential exposures faced by OakNorth and its borrowers.
Develop and recommend risk mitigation strategies through appropriate insurance solutions.
Support the workouts and recoveries team by assessing insurance positions and claims on deals in distress or restructuring.
5. Compliance and Regulation
Stay fully up to date with UK insurance industry regulations, market practices, and compliance requirements.
Ensure that all insurance policies and internal practices adhere to applicable laws and regulatory frameworks.
Maintain awareness of regulatory changes to proactively adjust OakNorth’s insurance policies and frameworks.
6. Market Engagement and Relationship Management
Build and maintain a strong network of brokers, insurers, and underwriters to ensure access to competitive and high-quality insurance products.
Manage relationships to secure advantageous terms and enhance OakNorth’s position in the market.
Collaborate effectively with internal teams — including Credit, Legal, and Risk — to ensure smooth communication and alignment on insurance requirements.
7. Claims Management
Support OakNorth and its borrowers throughout the claims process, providing technical guidance and coordination with insurers or adjusters.
Facilitate efficient and timely claims resolution to protect OakNorth’s interests and maintain borrower relationships.
8. Market Research and Horizon Scanning
Monitor emerging trends, new insurance products, and shifts in the UK insurance market.
Conduct research and analysis to identify competitive offerings, pricing movements, and innovative coverage options.
Anticipate market developments to ensure OakNorth remains ahead of the curve in managing insurance-related risks.
9. Documentation and Reporting
Maintain accurate and up-to-date records of all insurance policies, communications, risk assessments, and recommendations.
Prepare comprehensive reports and summaries for internal stakeholders, including Credit, Legal, and Executive teams.
Key Skills and Experience:
- Technical Expertise: Strong legal and technical knowledge of insurance documentation and requirements across banking and finance transactions.
- Financial and Transactional Insight: Experience advising on insurance in a broad range of financial products and structures.
- Attention to Detail: Exceptional precision in reviewing documentation and assessing commercial implications.
- Commercial Acumen: Strong understanding of insurance risk levels for both OakNorth and its clients, with the ability to advise Credit on acceptable exposure.
- Stakeholder Management: Ability to build trust and add value across internal teams, borrowers, brokers, and insurers.
- Communication and Collaboration: Excellent written and verbal communication skills, with the ability to convey complex insurance concepts clearly.
- Calm Under Pressure: Demonstrated ability to work effectively in fast-paced or high-pressure environments.
- Continuous Learning: Commitment to staying informed about evolving insurance regulations, products, and market trends.
