ERM 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.

The Enterprise Risk Manager is responsible for developing, implementing, and overseeing the bank's Enterprise Risk Management (ERM) framework. This role involves identifying, assessing, monitoring, and reporting on all key risks across the organization to ensure that the bank's risk exposure is managed within its risk appetite. The Enterprise Risk Manager will work closely with senior management and the Board to foster a strong risk management culture and support strategic decision-making.

• Conduct a daily/weekly/monthly review of the bank's overall risk profile, including operational, financial, strategic, and compliance risks, and advise management on the progress of risk mitigation efforts.
• Deliver weekly and monthly risk management reports, including metrics such as Key Risk Indicators (KRIs), risk appetite compliance, and the status of risk mitigation plans.
• Develop and prepare an annual enterprise risk assessment and plan using historical data, market trends, and projections.
• Monitor and coordinate all risk management activities for all products and business units.
• Identify and analyze emerging risks and trends, providing insights and recommendations to management.
• Prepare regulatory risk reports on a monthly basis to ensure compliance with prudential guidelines.
• Identify and advise on all high-risk areas that require immediate attention or legal proceedings on a regular basis.
• Prepare regular risk reports for Senior Management and the Board to aid in strategic decision-making.
• Ensure that all operational and risk management policies and procedures are adhered to by all stakeholders.
• Develop and implement effective risk reports for all the different products and business units to give insights to management for decision-making.
• Using data analytics tools, prepare and analyze data to identify risk patterns, trends, and the overall performance of the risk management framework, and develop action plans to address identified issues.
• Develop and execute strategic risk mitigation plans to reduce the bank's overall risk exposure and enhance resilience.
• Ensure that all operational and risk procedures and controls are strictly adhered to, including the review of risk registers and monitoring of risk mitigation plans.
• Prepare and present detailed dashboards, risk heat maps, and performance analytics to senior leadership, leveraging data insights on the bank's risk profile.
• Establish and maintain relationships with external risk management consultants, auditors, and other relevant service providers as needed.
• Collaborate with cross-functional teams such as legal, finance, and customer service to resolve complex or escalated risk-related issues.

Qualifications and Experience

• A Bachelor's degree in Finance, Economics, Business Administration, or a related field. A Master's degree or professional certification in risk management (e.g., FRM, PRM) is highly desirable.
• A minimum of 5-7 years of experience in enterprise risk management, preferably within the microfinance or banking sector.
• Proven experience in developing and implementing ERM frameworks.
• Strong knowledge of risk management principles, practices, and regulatory requirements.

Skills and Competencies

• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• Proficiency in data analytics tools and risk management software.
• Ability to work independently and as part of a team.
• Strong leadership and influencing skills.
• High level of integrity and ethical standards

Key Performance Indicators

• Maintain the bank's overall risk exposure within the board-approved risk appetite.
• Achieve a target reduction in operational losses by a specified percentage annually.
• Ensure a minimum of 95% compliance with all regulatory risk management requirements.
• Deliver weekly and monthly risk management reports, including metrics such as KRI breaches, risk appetite monitoring, and the status of risk mitigation plans, with 100% accuracy and timeliness.
• Monitor risk mitigation processes and make recommendations for management action, with a target of 90% of recommendations being implemented.

• 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