Director Monitoring Surveyor – Workout & Restructuring

OakNorth Bank -
London

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Job details

Permanent | Full-time

Benefits

Cycle to work scheme
Private medical insurance
Enhanced maternity leave
Enhanced paternity leave
Car scheme

Qualifications

Procurement

Full job description

The Role

OakNorth is looking for a commercially sharp Monitoring Surveyor to join our Workout & Restructuring team. This is a hands-on, risk-focused role with direct accountability for protecting the Bank's capital across distressed real estate exposures.

The role requires deep quantity surveying experience combined with strong commercial judgement. The successful candidate will take ownership of cost risk, delivery risk and funding integrity across a portfolio of challenged real estate loans, providing clear, decision-ready analysis to senior stakeholders.

This is not passive monitoring. You'll be actively interrogating cost risk, challenging borrower assumptions, and shaping recovery outcomes on complex, high-value situations.

You'll report to a Senior Director within Workout & Restructuring, working closely with Credit, Legal, and Portfolio teams.

What You'll Do

Cost & Quantity Surveying

Lead detailed review of development budgets, appraisals, and cashflows
Form independent, evidence-based views on cost-to-complete — including downside scenarios
Identify overruns, under-provisioning, and contingency gaps
Challenge borrower and contractor assumptions with evidence based analysis.
Assess value engineering opportunities without compromising asset value or exit value.
Review procurement strategies, contract structures (JCT/NEC), and drawdown requests
Review and validate drawdown requests, interim valuations, and payment certifications.

Project & Delivery Risk

Monitor progress against programme, milestones, and funding triggers
Identify delivery risks including contractor performance, delays, and technical issues.
Assess contractor performance, buildability, and practical completion risk
Provide clear, decision-ready reporting on project status and required interventions

Workout & Restructuring

Support enforcement scenarios including step-in, contractor replacement, and project stabilisation
Advise on options to complete, restructure, refinance, or dispose of assets
Input into asset-level business plans and recovery strategies
Work on partially completed, stalled, or non-performing developments
Other types of real estate assets that require a surveyor’s input

Credit Support

Provide technical input into credit papers, amendments, and restructuring proposals
Connect construction cost analysis directly to loan exposure, LTV, and recovery outcomes
Support sensitivity analysis on cost inflation, delays, and exit values

Stakeholder Management

Act as a credible counterparty to sponsors, developers, and professional teams
Manage and challenge external monitoring surveyors and consultants
Work closely with Workout & Restructuring, Credit and Legal teams
Escalate issues early with clear recommendations
Present strategies and updates to Credit Committee and senior management

What We're Looking For

Strong track record in quantity surveying and/or monitoring surveying
Experience in real estate finance, restructuring, or complex project environments
Exposure to distressed or underperforming assets is a real advantage
Deep knowledge of construction costs, procurement, and contract management (JCT/NEC)
Ability to assess incomplete or poor-quality information and form robust conclusions.
MRICS qualified (preferred), degree in Quantity Surveying or related discipline

Why OakNorth

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.

Benefits & Perks

Equity. We want people to have a stake in the business so that all our interests are aligned.
25 days holiday
Personalized benefits – opt-in to what matters to you
Subsidised Private Medical Insurance with Bupa
Enhanced maternity and paternity leave
Wellbeing and social events
In-house Barista Bar in London office
Support causes that matter to you – Volunteering time off
Salary sacrifice schemes (Cycle to work, nursery, gym, electric car scheme)

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.

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