Guernsey Association of Compliance officers

Governance, Risk and Compliance in the Bailiwick of Guernsey

James Cashmore - managing risk in a challenger bank

Mon, 13 November 2017 at 12:10 PM

Venue - Harry Bound Room, Les Cotils

Start time - 12:10, finishing no later than 13:30

Buffet lunch included

Book via the website Events page by close of business Thursday 9 November 2017

The charge for this event is £15 per person

Attendees are restricted to 6 per member firm

James will talk about his experience in managing risk with a challenger bank and how the compliance risk may or may not be done differently when you have the luxury of setting up a new bank from scratch and don’t have legacy systems.

Launched in September 2015, OakNorth is a UK bank that provides fast, flexible and accessible debt finance (from £500k to £20m) to fast-growth businesses and established property developers.

Since its launch, the bank has:

* Become the first UK bank to have its core systems fully-hosted on the cloud (May 2016);
* Turned cash flow positive in month 11 (August 2016),
* Grown its loan book to over £900m (including deals that have been credit approved and are being transacted);
* Raised retail deposits from almost 15,000 savers;
* Become the fastest financial services company in UK or European history to reach a unicorn ($1bn) valuation (October 2017); and
* Been shortlisted for and won over 15 awards, including RESI's Residential Financier of the Year (2017) and City A.M.'s Bank of the Year (2017).

The bank was founded by Rishi Khosla and Joel Perlman, themselves entrepreneurs who were inspired to launch OakNorth following the challenges they faced in securing debt finance from high street banks for their previous business, Copal Amba (which scaled to c.3,000 employees and was acquired by Moody's Corporation in 2014).

It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

James Cashmore is the Chief Risk Officer at OakNorth - the bank for entrepreneurs, by entrepreneurs - where he sits on the bank's Credit Committee alongside the CEO and co-founder.

Prior to joining OakNorth, James was COO, Risk for the 'Williams & Glyn' project at RBS which for 5 years ran as a subsidiary of RBS - a full service retail and corporate bank with a £20bn balance sheet and 6,500 staff. Prior to this, he was Head of Strategy at RBS UK for three years, where he led an internal consulting team which developed the UK bank's strategy including new customer propositions, products and processes. He has 30 years of experience in Risk and Strategy.

James has a Masters in History from Oxford University and an MBA from Aston University.

Sorry - this event is now closed for booking. Please contact GACO directly if you have any enquiries.

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