Head, Enterprise Risk Management
FairMoney is a credit-led mobile bank for emerging markets. The company was launched in 2017, operates in Nigeria & India, and raised close to €50m from global investors like Tiger Global, DST & Flourish Ventures. The company has offices in France, Nigeria, Germany, Latvia, the UK, Türkiye, and India.
Watch the way FairMoney is building Africa's money story here
About The Role:
You will be working as the Group’s Enterprise Risk Manager in the Risk department and will be responsible for ensuring our risk policies, processes, and reporting are aligned with relevant guidelines and best practice. Your mission is to track and manage all the risk associated with the business excluding credit risk. You will also ensure our Microfinance Bank is fully compliant with the statutory guidelines.
As the Enterprise Risk Manager, you will lead the regular reporting for the Nigerian business, as required both by the regulators as well as the internal compliance team, and be the key person preparing for CBN and NDIC risk-based audits. As such you will be considered as a key stakeholder and contributor in all decisions revolving around the business and strategic processes.
Roles and Responsibilities:
- Responsible for implementing the Company’s Risk Management Policy Framework as periodically revised and approved by the Board of Directors while ensuring that the Company’s key risks of credit, market, and operational are identified, assessed, measured, controlled, and managed prudentially.
- Responsible for managing all aspects of enterprise risk, which include designing of assessment and management: policies, processes, guidelines, reports, monitoring the effective implementation of the same.
- Design Risk Framework Components - Enhance, build, or expand Risk Identification, Risk Scoring, Risk Appetite, and Risk Reporting infrastructures, including relevant programs and processes across the company.
- Develop appropriate initiatives to mitigate the risk exposure level to the Company.
- Continuously monitors the company’s risk exposure and flags off any areas of concern.
- Development of risk indicators and ensuring compliance.
- Lead ERM special projects such as corporate educational risk training, expanding risk automation tools, maintenance of ERM policies and documentation, and activities focusing on the advancement of risk accountability and culture.
- Monitor and ensure key risk ratios do not exceed limits set by Executive Management.
- Keeping abreast of regulatory requirements within a risk context, providing advice on incoming obligations, and preparing position statements wherever necessary.
- Participate in the periodic review of the Bank's Investment Policy, Assets, and Liability Management Policy (ALM) in collaboration with relevant stakeholders.
- Conduct periodic (quarterly and semi-annually) stress tests on various risk metrics and indicators and recommend appropriate measures to mitigate the observed vulnerabilities.
- Prepare MRC reports and ensure that agreed resolutions from the MRC meetings are implemented.
- Implementation of a Business Continuity Plan (BCP); including coordinating the regular BCP test and follow-up on the remediation of the observed gaps.
- Work with relevant stakeholders in the implementation of the ISO and PCI-DSS certification.
- Prepare monthly/Quarterly reports.
- Over 8 years of cognate experience.
- Demonstrable knowledge of Enterprise risk management within a Digital Bank.
- Strong knowledge of CBN regulations including prudential guidelines for MFBs.
- Strong attention to detail and ability to notice discrepancies in data.
- Willingness and ability to drive processes.
- Strong communication skills.
- Strong process management skills.
- Private Health Insurance
- Pension Plan
- Training & Development
- Paid Time Off
- A screening interview with one of the members of the Talent Acquisition team for 30 minutes.
- Technical interview with the MD, Nigeria- 1hour
- Case Study/Presentation
- Interview with the Global Head of Finance - 1hour
- Interview with the CEO - 1hour