Credit Risk Analyst at Fairmoney Microfinance Bank

FairMoney is building the leading mobile bank for emerging markets. We started with a digital microcredit application on Android, and currently roll out additional financial services (current account, savings, debit card) while expanding the product to Western Africa and South-East Asia.

We are recruiting to fill the position below:

Job Title: Credit Risk Analyst

Location: Lagos
Job type: Full-time

Job Summary

• As a Credit Risk Analyst you are responsible for assessing and evaluating the creditworthiness of potential and existing customers.
• This role involves analyzing financial statements, identifying potential risks, and developing strategies to mitigate them while ensuring compliance with regulatory guidelines and internal policies.
• The Credit Risk Analyst plays a key role in helping the company make informed lending decisions that balance profitability and risk.
• Your goal is to build FairMoney as a Tier 1 digital lender in Nigeria and you will be a key Business Partner to achieve the same.
• As the Risk Analyst for the Nigerian business, you will be part of a team that plays a critical role in managing FairMoney's ability to grow in the market.
• You will be one of the key stakeholders and contributors in decisions revolving around the business and product strategies.

Responsibilities
Credit Risk Assessment:

• Analyze credit data, financial statements, and other relevant information to assess the creditworthiness of customers.
• Develop credit risk models to evaluate potential risks and exposures for various credit products.
• Conduct detailed analysis of industry trends, economic data, and company performance to evaluate overall risk.

Financial Analysis:

• Review and interpret financial statements including income statements, balance sheets, and cash flow statements to determine borrower strength.
• Calculate financial ratios and compare them to industry standards to assess credit risk.

Risk Monitoring and Reporting:

• Monitor the credit portfolio for early signs of potential credit risks and provide timely reports to senior management.
• Prepare regular reports on credit risk exposure, loan performance, and other relevant metrics.
• Identify trends and recommend risk mitigation strategies to reduce the potential for default or losses.

Policy and Compliance:

• Ensure all credit risk assessments are conducted in line with company policies, regulatory requirements, and industry best practices.
• Support the implementation of risk policies and procedures that govern the company’s credit activities.

Credit Risk Modelling:

• Assist in developing and maintaining credit scoring models to improve risk prediction.
• Conduct scenario analysis and stress testing to assess the impact of various factors on credit risk exposure.

Decision Support:

• Provide insights and recommendations to support decision-making on credit approvals, limits, and loan structures.
• Collaborate with business teams to structure loans that align with the company’s risk appetite and objectives.

Stakeholder Collaboration:

• Work closely with the sales, finance, and legal teams to ensure a comprehensive approach to risk management.
• Liaise with external parties such as auditors and regulatory bodies as required.

Requirements

• Bachelor's Degree in Finance, Economics, Accounting, Business, or a related field.
• Professional certifications (e.g., MBA, CFA, FRM, etc) are an added advantage.
• A minimum of 2 years of experience in credit risk analysis, financial analysis, or a similar role within banking, financial services, or corporate finance.
• Proficiency in financial analysis software, risk modelling tools, Excel, SQL, reasonable experience with BI tools like Tableau, PowerBI, or similar.
• Strong quantitative analysis experience
• Strong attention to detail and ability to notice discrepancies in data
• Impeccable understanding of financial statements, ratios, and concepts
• Strong communication skills.

Skills and Competencies:

• Strong understanding of financial analysis and risk assessment techniques.
• Knowledge of credit risk principles, regulatory guidelines, and best practices.
• Proficiency in financial modelling, credit scoring, and risk measurement tools.
• Attention to detail and analytical thinking with the ability to interpret complex financial data.
• Excellent communication and report-writing skills.
• Ability to work independently and within a team.

Benefits

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

Application Closing Date
Not Specified.