Head of Risk, FairMoney
Instant loans app
Open for applications
Instant loans app
501-1000 employees
Open for applications
501-1000 employees
Company mission
To bring financial inclusion to underbanked people in emerging markets.
Role
Who you are
- Overall 10 to 15 years of credit risk experience with exposure to Fintech / retail banking credit risk (consumer loans) / NBFCs. Preference for prior CRO / Head of Risk experience. Leadership of multiple products or geographies
- History of managing companies through growth and recessionary periods
- Experience developing a vision and then instituting a data-driven, analytically rigorous framework and infrastructure to support credit decisions in payment products
- Experience in analytical skills like data science model development, NPV modeling, impairment forecasting, and setting up different A/B tests and building sensitivity analysis
- Proficient SQL user, with reasonable experience with BI tools like Tableau, Power BI, or similar
- Years in credit risk management, including leadership of multiple products or geographies
- End-to-end lifecycle expertise + strategic planning capability
- Ownership of OKRs:
- Full P&L-linked OKRs (GP, ECL, approval rates, churn, retention, debt sales, etc)
- Risk appetite definition and governance sign-off authority
- Built or transformed a risk function in a high-growth lending environment
- Implemented scorecard strategies, collections segmentation, and product-specific risk frameworks
- Managed 5–15+ people including managers and analysts
- Led distributed or multi-country teams
- Successfully launched new products, new markets, or major portfolio restructuring while keeping losses in check
What the job involves
- You will be working as FairMoney’s Head of Risk, managing the Risk department and being critically responsible for FairMoney’s overall success
- Your mission is to ensure portfolio performance according to the company's OKRs, and risk appetite, and offer the best-tailored credit services across our multiple value propositions
- Your goal is to successfully execute Fairmoney strategies, achieving optimal profitability and creating sustainable access to credit for all
- This is a critical role, highly visible with significant exposure to business leaders and the leadership team
- All FairMoney strategies and execution thereof interact with and are influenced by the Risk team's strategies, rules, and decisions. FairMoney ultimately succeeds by what you and your team deliver. Your role is to lead FairMoney in delivering value, achieving targets, and delivering risk-adjusted returns
- Define risk appetite for the company that is approved by Senior Leadership and the board
- Manage the business within risk appetite
- Using analytics, test and learn strategies, set and execute all risk strategies that enable achievement of company OKRs
- Own the main portfolio metrics - default rates, acceptance rates, collection rates, retention rates, and profitability
- Forecast, monitor, and deliver insights on portfolio performance and ECL / impairment results and trends
- Drive the decision of new risk product updates in terms of product offerings and underwriting funnel improvements
- Lead the company in understanding NPV and unit-level economics. Deliver strategies that optimize trade-offs and deliver business success and optimize lifetime value
- Design and execute collections strategy
- Lead the company in its fraud prevention workstreams both from the product setup and underwriting policy perspective fully defining fraud strategies and risk appetite
- Own and drive the risk-related product roadmap with tech and product teams working closely together with the Product and Engineering team on improvements for the lending product, data, and risk strategies
- Build, improve, and maintain risk policies
- Chair the credit committee reporting back to stakeholders, the senior leadership team, and the Board
- Stay up to date on regulatory changes and rules. Ensure compliance. Where applicable support audits and influence regulation changes
- Work closely with the Data Science team and their priorities ensuring world-class tools are used and decisions are always optimal
- Mentoring and coaching talented FairtToopers, scaling up the team as and when required
Application process
- A screening interview with one of the members of the Talent Acquisition team for 30 minutes
- Takeaway assignment to be done at home
- Technical interview for 60-90 minutes with the Hiring Manager
- Interview/Presentation to the key stakeholders for 60-90 minutes
Our take
For individuals in emerging markets, it can be difficult to access lending services from traditional banks, making it difficult to get a business off the ground or to secure funds in an emergency. FairMoney is a digital bank that supplies instant loans with no collateral required, to level the finance playing field for underbanked consumers.
FairMoney was founded in 2017 and began operations for people in Nigeria, supplying loans of up to ₦1,000,000 (roughly 2000 Euros). As well as lending, the company also supplies free-transfer bank accounts, a debit card for spending, and other financial services that its clients would not normally be able to access. Application can be done extremely fast, and boasts the simplicity of being conducted via a mobile app.
FairMoney has secured good funding that will allow it to expand operations and hire additional talent. With the acquisition of a microfinance bank license, the company is allowed to operate as a financial service provider in Nigeria, and it has begun expansions into India.
Kirsty
Company Specialist at Welcome to the Jungle
Company
Company benefits
- Training & Development
- Paid Time Off
- Full-Remote
Company HQ
Notre-Dame-des-Champs, Paris, France
Leadership
Laurin Nabuko Hainy
(CEO)Former CEO of Le Studio VC. Has been a Board Member at four companies. Co-founded NutriGo.
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