About Us
The origin story
In 2005, our co-founders, Rishi Khosla, and Joel Perlman, were looking for a working capital facility to support their growing business, Copal Partners, a financial research firm they’d founded three years previously.
They approached numerous high-street banks and kept getting variations of the same response – “the computer says ‘No’”. Despite being a profitable business with strong cash flow and retained clients, none of the commercial banks were willing to lend to them. It was too small a ticket to offset the costs the bank would incur in doing a fundamental assessment of their business and structuring a finance facility for their needs. A few months later through one of their institutional client’s special situations desk, they managed to secure 100x the amount of debt for a dividend recap. So, an institutional division of a bank was able to support them, but the commercial lending part of the bank was not.
This experience stuck with them.
After they’d scaled Copal Partners to a 3,000-employee business and sold it to Moody’s Corporation (NYSE: MCO) in 2014, they then set out to address the funding gap they had experienced first-hand and help growth businesses achieve their potential.
Rishi and Joel wanted to first prove the proposition within their own bank in the UK – OakNorth Bank.
OakNorth Bank
Launched in September 2015, OakNorth Bank provides fast, flexible, and accessible debt finance (from £500k to £45m) to fast-growth businesses.
Through leveraging the ON Credit Intelligence Software, OakNorth Bank has become the fastest-growing business in Europe according to the Financial Times (FT 1000) and has performance metrics that place it amongst the top 1% of banks globally. It has lent several billion pounds to hundreds of businesses across the UK who have collectively gone on to create tens of thousands of new homes and jobs across the country. OakNorth Bank’s commercial lending is supported by its deposits franchise, offering a range of Financial Services Compensation Scheme (FSCS)-protected products to savers at all stages of life and businesses at all stages of growth.
Our investors
OakNorth Holdings (the group which includes OakNorth Bank plc and the various OakNorth software entities around the world) has raised over $1bn from leading investors, including Clermont Group, Coltrane, EDBI of Singapore, GIC, NIBC, SMBC, Toscafund, and SoftBank’s Vision Fund.
Short description – Support in planning, execution and reporting of audits for OakNorth Bank to provide independent assurance to senior management that the bank’s risk management framework is fit for purpose and effectively and prudently delivers best-in-class services to all its customers and stakeholders.
Key Job Responsibilities:
Audit Delivery:
Attributes:
A. Culture fit
B. Job-specifics
The role is based in OakNorth Global Private Ltd. in Gurugram and will report directly into a more senior Internal Audit colleague based in Gurugram. There is an expectation that this role will be based in the office for three days a week
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.
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