FairMoney - Lead - Risk Manager

About the job

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.

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

The ideal candidate for this role will be a highly skilled and strategic individual who can oversee the credit lifecycle, develop analytics and strategies for optimizing recovery rates, and effectively manage a team.

They will combine deep analytical capabilities with a strong understanding of ECL (Expected Credit Loss) modeling, cohort analysis, and risk operations.

The role requires a balance of high-level strategic thinking and the ability to dive deep into the math and execution of data-driven decisions.

The person must have experience managing people and optimizing the credit processes, while ensuring effective communication across various departments (e.g., call centers, underwriting, collections).

This individual must think like a systems engineer to isolate variables impacting recovery performance and create actionable solutions.

Key Responsibilities :

A. Analytics and Strategy Lead the analytics and strategy for optimizing credit processes across the unsecured lending portfolio

• Develop, maintain, and refine ECL models (Expected Credit Loss) to predict and optimize recovery rates
• Use cohort analysis and book analysis to assess performance, measure recovery effectiveness, and adjust strategy based on trends
• Drive A / B testing, test-learn-iterate approaches to improve credit strategies, optimizing both short-term recovery and long-term customer relationships
• Understand how different data dimensions affect each other and synthesize findings to create actionable insights.

Modeling & Data Perform data extraction and analysis (SQL, Python, or other analytics tools) to monitor credit performance, ensuring accuracy and completeness in reporting

Team Management & Manage a cross-functional team of analysts and credit specialists, ensuring they have the tools, training, and support to optimize performance

Strategic Oversight & Process Ensure the credit strategy aligns with broader business goals, focusing on profitability, risk management, and customer experience

Collaboration & Stakeholder Collaborate closely with key internal stakeholders, such as the underwriting team, data science teams, marketing, and senior leadership, to refine the credit strategy and align on business objectives

B. Ownership of OKRs :

C. Previous Work :

D. Team Size Led 2-5 analysts directly

E. Growth Proven track record in scaling portfolios profitably - can show before / after metrics

F. Advanced Analytical Skills :

C. Understanding of Recovery and A deep understanding of the relationship between underwriting decisions and credit performance, and how those impact the recovery process

D. Strategic Thinking with Tactical Ability to think strategically about credit while being hands-on in analyzing the data and understanding the granular details (SQL queries, statistical models)

Recruitment process

(ref : iimjobs.com)