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Risk Manager

FairMoney

FairMoney

Lagos, Nigeria
Posted on Wednesday, May 8, 2024

FairMoney is a pioneering mobile banking institution specializing in extending credit to emerging markets. Established in 2017, the company currently operates primarily within Nigeria, and it has secured nearly €50 million in funding from renowned global investors, including Tiger Global, DST, and Flourish Ventures. FairMoney maintains a strong international presence, with offices in several countries, including France, Nigeria, Germany, Latvia, the UK, Türkiye, and India.

In alignment with its vision, FairMoney is actively constructing the foremost mobile banking platform and point-of-sale (POS) solution tailored for emerging markets. The journey began with the introduction of a digital microcredit application exclusively available on Android and iOS devices. Today, FairMoney has significantly expanded its range of services, encompassing a comprehensive suite of financial products, such as current accounts, savings accounts, debit cards, and state-of-the-art POS solutions designed to meet the needs of both merchants and agents.

To gain deeper insights into FairMoney's pivotal role in reshaping Africa's financial landscape, we invite you to watch this informative video.

About the role

You will be working as our Nigeria's Credit Risk Manager in the Risk department and will be responsible for driving the growth of our portfolio in Nigeria. Your mission is to ensure portfolio performance according to the company OKR's, offering the best-tailored credit services to as many clients as possible. Your goal is to build FairMoney as a Tier 1 digital lender in Nigeria and you will be a key Business Partner to achieve the same.

As the Credit Risk Manager for the Nigerian business, you will lead a team that plays a critical role in managing FairMoney ability to grow in the market. As such you will be considered as a key stakeholder and contributor in all decisions revolving around the business and product strategies.

Responsibilities

  • Own the main portfolio metrics - default rates, acceptance rates and profitability
  • Drive the decision of new risk product updates in terms of product offerings and underwriting funnel improvements - Work closely together with the Product and Engineering team on improvements for the lending product
  • Build, improve and maintain the credit risk policy for Nigeria that will allow to grow the portfolio according to company OKRs - Communicate the performance results with the respective stakeholders
  • Keep up to date with the company’s lending protocols
  • Benchmarking current risk practices against those stipulated within business units
  • Implementing the best possible methodologies in improving the credit performance, considering the risk associated, yet offering the prime credit facility
  • Own the structuring and hiring of a Risk Analysis and Data Science team as well as their agenda
  • Mentoring and coaching talents, scaling up the team as and when required.