Development Credit Manager

London, UK
Full-time

Company Description

Octopus is a group of businesses investing in the people, ideas and industries that will help change the world. Founded in 2000, we’re now one of the UK’s fastest-growing companies, operating in two sectors – financial services and energy supply. In our financial services business, we’ve built market-leading positions in a number of specialist investment sectors, including smaller companies, renewable energy, healthcare and property finance. We employ more than 750 people and manage more than £8.3 billion on behalf of more than 50,000 retail and institutional investors. At Octopus we’re transforming the industries we operate in and improving the lives of millions of people.

We’re a group of entrepreneurially-minded businesses, each built on the belief that people and the planet deserve better. Our group includes Octopus Energy, Octopus Real Estate, Octopus Investments, Octopus Ventures, Octopus Renewables, Octopus Wealth, Octopus Giving and Seccl.

Life at Octopus is never dull. We’re an ambitious, people-first business that wants to make the world a better place. Because of this, we value energy, curiosity, resilience, and integrity. We’re different from most other companies you may have worked for. And we’re always on the look-out for smart, talented people who share our values.

Job Description

About the Role

The residential development book currently comprises c. £500m of development assets across c. 100 loans. The Book has been structured off stretched senior debt lending (up to 85% LTC) and we are looking for a dynamic and experienced individual to structure and underwrite new loans onto this growing book. The successful candidate will have a detailed understanding of development finance, including development cash flow analysis, visiting sites, speaking to borrowers & brokers and underwriting new deals. The candidate will receive excellent support from senior management, as well as the wider team.

Essential Job Functions

  • Structure, underwrite and execute new development facilities
  • Write and present detailed credit papers outlining the risks and mitigants for a deal, with a clear recommendation
  • Manage and analyse all the diligence streams for a transaction, including valuation reports, QS reports and legal documents
  • Manage the relationship with all key stakeholders to ensure a smooth transaction process
  • Contribute to the growth of the Residential Development Team, through increasing the size of the loan book, designing and implementing new loan products

Qualifications

  • Experience of underwriting and executing development loans
  • Highly numerate with a good understanding of development cash flows
  • Strong credit and risk analysis, with the ability to identify and mitigate an early warning signals
  • Due Diligence management and analysis (Legal, Valuation and QS reports)
  • Confidence and the ability to manage borrowers, brokers and diligence providers
  • Excellent report writing and general communication skills
  • Ambitious with a good understanding of the UK development market

Additional Information

Our Values and DNA  

At Octopus we don't just focus on what we do but also how we do it. Everyone shares our values of being straightforward, helpful and bold. And while these are the principles that guide us as an organisation, our DNA goes even further, by revealing our inner strengths:  

We are loyal: we fully buy-in to the company's vision and believe in everything that Octopus stands for.

We are respectful: we live and breathe the Octopus values of being helpful, straightforward and bold.

We are resilient: we have an inner strength that means we never give in.  

We are intellectually curious: we seek to understand how the world works and were always learning, adapting and improving.  

We understand who our customers are: and because we know them really well, we always give them our very best.  

What we offer Octopus has built an exciting and inclusive high-performance culture where employees feel empowered. This means we welcome discussions around flexible working hours. We also understand the value of diversity, and we have a team dedicated to promoting gender, ethnic, socio-economic, LGBT and disability equality, to make sure we back up our words with actions. All Octopus employees are given the opportunity to develop new skills, aim higher and accelerate their careers.

 

Location