Director Monitoring Surveyor – Workout & Restructuring

LondonPermanent - Full Timeexecutive

SurveyorConstruction & Real Estate

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The Role OakNorth is looking for a commercially sharp Monitoring Surveyor to join our Workout & Restructuring team. This is a hands-on,

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SurveyorConstruction & Real Estate

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.

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.

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

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

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

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

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

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.

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)