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Lead Risk Manager

FairMoney

FairMoney

Bengaluru, Karnataka, India
Posted on Thursday, October 12, 2023

FairMoney is a Credit-led Mobile Bank that offers services in emerging markets. It was founded in 2017 and currently operates in Nigeria. The company has received funding of nearly €50 million from global investors such as Tiger Global, DST, and Flourish Ventures. FairMoney has a presence in multiple countries, including France, Nigeria, Germany, Latvia, the UK, Türkiye, and India.

Our goal at FairMoney is to create the best mobile banking and point-of-sale solutions for emerging markets. We started with a digital microcredit application on Android, and since then, we have expanded our offerings to include a wide range of financial services. These services include current accounts, savings accounts, debit cards, and innovative point-of-sale (POS) solutions for merchants and agents through PayForce by FairMoney.

About the role
You will be working in our risk department as a Lead Risk Manager focused on overseeing the operational processes of lending. You will be responsible for ownership of our collections strategies and the performance within the set parameters.

Your mission is to ensure portfolio performance according to the company OKRs and influence the risk and collections teams to ensure we deliver the right strategy to recover the delayed payments from our clients in a sustainable manner.

Your goal is to set and execute for FairMoney a credit risk strategy that delivers our OKRs.

This is a key role and will need to interact and influence with the risk department, fraud prevention, data science, operations, and finance. As such you will be considered a key stakeholder and contributor in all decisions revolving around the business, product, and operational strategies.

  • 5 to 10 years of credit risk experience with exposure to Fintech / retail banking credit risk (consumer loans) / NBFCs
  • Previous exposure to operational processes of a consumer lending product
  • Good understanding of recollection tools such as extensions, rescheduling, restructuring, waivers, debt sales.
  • Expert in credit risk analysis/underwriting principles, methods, and practices, including key data science concepts
  • Experience in setting up different A/B tests and building sensitivity analysis
  • Proficient SQL user, with reasonable experience with BI tools like Tableau, PowerBI, or similar
  • Strong quantitative analysis experience
  • Strong attention to detail and ability to notice discrepancies in data
  • Impeccable understanding of financial statements, ratios, and concepts
  • Strong communication skills

    Responsibilities

    • Define the strategy for credit risk across different portfolio segments
    • Do constant A/B tests on different strategies to find the optimal one
    • Advise the collections team on the intensity of actions needed on the portfolio
    • Find the optimal offers and pricing levels for loan extensions across different client segments to maximize the lifetime value of our lending clients
    • Work closely with the Data Science department to build a data-driven strategy
    • Work closely with the Product and Engineering team on improvements for the lending product
    • Maintain the risk policy and adherence thereof
    • Communicate the performance results with the respective stakeholders
    • Mentoring and coaching talents, scaling up the team as and when required
    • Paid Time Off
    • Family Leave (Maternity, Paternity)
    • Training & Development budget
    • Remote work

    Recruitment process

  • Screening call with our Talent Management Team
  • Technical discussion with Deep, Head of Portfolio Risk
  • Business discussion / Case Interview with Jitesh, Global Head of Risk