Credit Portfolio Manager

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.

FairMoney thrives on its diverse workforce, bringing together talent from over 27 nationalities. This multicultural team drives the company’s mission of reshaping financial services for underserved communities. To gain deeper insights into FairMoney’s pivotal role in reshaping Africa’s financial landscape, we invite you to watch an informative video.

We seek a Credit Portfolio Manager to manage the institution’s credit portfolio , recommend and implement remedial actions to minimise losses and reduce the impact of PAR on the portfolio.

• Education: Bachelor’s degree in any discipline including Risk Management, Finance, Business, Economics, or any other related field
• Experience: At least 7 years’ experience in Credit Portfolio Management within the Financial Services Industry
• Certifications: MCP, ACIB, ICAN, Data Analytics/ Science Certifications etc.
• Knowledge: Understanding of the business drivers and the strategic direction of the institution and role of risk management in achieving the objectives

Skills

• Effective people management skills
• Ability to come up with new ideas and a fresh perspectives.
• Ability to communicate both written and orally with all levels of the organisation/external parties.
• Ability to deliver results and meeting customer (internal and external) expectations

Core Accountabilities and Responsibilities

• Conducts a daily/weekly/monthly review of the loan book including the arrears position and advice management on the progress of collections/recovery.
• Deliver weekly and monthly collections and portfolio performance reports, including metrics such as collection rate, PAR ratio, loan bucket classifications and loan loss provisioning.
• Develop and prepare annual credit portfolio plan using historical data and projections.
• Monitor and coordinate all credit portfolio monitoring and management activities for all products.
• Identify and analyze non-performing loans with trend analysis and credit portfolio insights.
• Prepare CBN credit reports on monthly basis to determine loan loss provisioning in line with the prudential guidelines.
• Identify and advise on all delinquent accounts that require legal proceedings on a regular basis.
• Prepare regular credit reports for Senior management and Board to aid decision making.
• Ensure that all operational & credit portfolio policies and procedures are adhered to by all stakeholders.
• Develop and implement effective credit portfolio reports for all the different products to give insights to management for decision making.
• Using data analytics tools, prepare and analyze data to identify migration patterns, collection trend, delinquency trends, credit portfolio performance and develop action plans to address identified issues.
• Develop and execute strategic collection plans to reduce delinquency rates and enhance repayment/remittance.
• Ensure that all operational and credit procedures and controls are strictly adhered to, including the review of loan accounts and monitoring repayment patterns
• Prepare and present detailed dashboards, aging reports, and performance analytics to senior leadership, leveraging data insights on loan portfolio performance.
• Establish and maintain relationships with external collection agencies and other relevant service providers as needed
• Collaborate with cross-functional teams such as legal, finance, and customer service to resolve complex or escalated customer issues, relating to overdue accounts, and negotiation of repayment.

Key Performance Indicators

• Ensure PAR 30 of 10% for the pre-NPL book (1-90days) past dues for all MSMEs loan portfolio
• Ensure PAR 30 of 15% for consumer loan portfolio.
• Ensure collections rate of minimum of 90% for all loan types.
• Deliver weekly and monthly collections and portfolio reports, including metrics such as default rate, collection rate, PAR ratios, loan bucket classifications and prudential loan provisioning.
• Monitor collection processes and make recommendations for management action.

• Private Health Insurance
• Pension Plan
• Training & Development
• Hybrid work
• Paid Time Off

Recruitment Process

• A screening interview with one of the members of the Talent Acquisition team for 30 minutes.
• Technical Interview with the member of the Credit Risk team for 45-60 minutes
• Hiring Manager Interview for 45-60 minutes