FatakPay Digital - Credit Risk & Compliance Role (3-8 yrs)

Job Title: Credit Risk & Compliance - Fintech Industry

Location: Andheri East

Reports to: COO

Job Type: Full-Time

Job Overview:

The Credit Risk & Policy Audit role in the Fintech industry is responsible for evaluating, assessing, and auditing the company's credit risk policies, procedures, and practices. The role ensures that the fintech organization's credit policies align with regulatory standards, best practices, and business objectives, while mitigating credit risk effectively. The position involves conducting internal audits, identifying gaps in credit risk management processes, and working with cross-functional teams to ensure the implementation of sound risk controls. This role is critical to safeguarding the company's portfolio and preventing credit defaults and fraud.

Key Responsibilities:

1. Credit Risk Management Audit:

- Conduct regular audits of the company's credit risk management framework to ensure compliance with internal policies, industry standards, and regulatory requirements.

- Review credit risk models, approval processes, and credit assessment tools to ensure they are appropriate, effective, and up-to-date.

- Assess credit underwriting standards, credit scoring models, and decision-making algorithms for accuracy and reliability in predicting creditworthiness.

- Identify areas of credit risk exposure, including fraud, defaults, and bad debt, and recommend corrective actions to mitigate these risks.

2. Policy Compliance and Effectiveness:

- Audit and assess the company's credit risk policies and procedures to ensure they are consistent with business goals, risk appetite, and regulatory requirements.

- Review and validate credit policies related to personal loans, credit cards, digital lending, and other fintech products to ensure adherence to legal and ethical standards.

- Work with legal and compliance teams to identify any regulatory changes and ensure that credit risk policies and procedures are updated accordingly.

3. Credit Portfolio Monitoring:

- Perform regular audits on the credit portfolio to assess risk, performance, and quality of loans or credit products.

- Evaluate the loan origination process, monitoring for any potential systemic risks or weaknesses in the portfolio.

- Analyze portfolio metrics such as delinquency rates, non-performing loans (NPLs), default rates, and recovery performance.

- Work with credit operations teams to ensure proper documentation and compliance with established policies for credit transactions.

4. Risk Control and Mitigation:

- Identify opportunities to enhance or improve risk controls in credit operations, including new systems, processes, or tools.

- Collaborate with the credit risk team to develop strategies for risk mitigation, including the setting of credit limits, loan-to-value ratios, and risk-based pricing.

- Recommend best practices for credit policy governance and ensure that credit risk is managed consistently across all products and services.

5. Audit Reporting and Documentation:

- Prepare detailed audit reports outlining findings, risks, and recommended actions to senior management and relevant stakeholders.

- Provide actionable insights to improve credit risk policies, processes, and controls, ensuring alignment with company objectives and regulatory frameworks.

- Track the implementation of audit recommendations and ensure that corrective measures are adopted in a timely manner.

- Ensure proper documentation of audit activities and findings, maintaining compliance with internal and external audit standards.

6. Stakeholder Collaboration and Advisory:

- Act as a subject matter expert for credit risk management policies and audits, advising key stakeholders on potential risks and best practices.

- Collaborate with risk, compliance, and credit operations teams to address issues related to risk exposure, fraud, and credit management.

- Support the development of training and awareness programs to ensure staff understand and adhere to credit risk policies and procedures.

7. Continuous Improvement and Process Optimization:

- Regularly assess and update audit methodologies to reflect changes in the fintech industry, emerging risks, and new regulatory requirements.

- Leverage technology, including data analytics and automation tools, to improve the effectiveness and efficiency of the credit risk management audit process.

- Identify trends or emerging risks in credit risk and make proactive recommendations to mitigate potential issues before they impact the business.

Qualifications and Skills:

Education: Bachelor's degree in Finance, Business, Economics, or a related field (Master's or professional certifications such as FRM, CFA, or CPA are preferred).

Experience:

- 6-10 years of experience in credit risk management, policy audit, or internal audit roles, preferably in the fintech, banking, or financial services sector.

- Experience with credit risk models, underwriting processes, and credit portfolio management.

- Strong understanding of regulatory frameworks related to lending, credit risk, and fintech operations.

- Familiarity with industry-specific risk tools, credit scoring systems, and fintech products.

Skills:

- In-depth knowledge of credit risk management principles, policies, and processes.

- Strong analytical skills with the ability to identify and assess complex risks in credit portfolios.

- Excellent attention to detail and the ability to conduct thorough audits.

- Proficient in risk management software, audit tools, and MS Excel (or other data analytics tools).

- Strong written and verbal communication skills, with the ability to present audit findings and risk assessments to senior management.

- Knowledge of fintech products and services, including personal loans, digital lending, credit cards, and alternative lending models.

Personal Attributes:

- Strong problem-solving skills, with the ability to identify issues and provide effective solutions.

- Independent and self-motivated, with the ability to manage multiple audits and priorities simultaneously.

- Detail-oriented with a keen eye for identifying gaps or inefficiencies in credit risk management processes.

- High ethical standards and commitment to maintaining confidentiality and compliance.

- Collaborative mindset with the ability to work across teams and influence stakeholders.

Benefits:

- Organisation ESOPs.

- Health insurance.

- Opportunities for career growth and professional development.

- Flexible work arrangements (depending on company policy).

ABOUT THE COMPANY:

FatakPay Digital Private Ltd (FatakPay) is a digital-only lending platform that provides virtual credit cards. The solution provides a 100% digital and paperless quick, transparent and secure way to transact in multilingual format with a 'scan now, pay later' facility and easy repayment options. We're a company that strongly believes in teamwork, design, creativity and tech. We love to build the best possible Financial Tech products that make the world a better place.

It was founded by a team of four IIT- B, Erasmus University alum and with 70+ years of combined experience in Tech and Finance.

WHAT HAPPENS NEXT?

If selected for an interview, you will hear directly from someone from the HR department, usually within a week of the closing date