Credit Risk Analyst

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. FairMoney maintains a strong international presence, with offices in several countries, including France, Nigeria, Germany, Latvia, the UK, Türkiye, and India.

To gain deeper insights into FairMoney's pivotal role in reshaping Africa's financial landscape, we invite you to watch this informative video.

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:

1. 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.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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.

7. 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

Recruitment Process

• A screening interview with one of the members of the Talent Acquisition team for 30 minutes.
• Assignment (Takeaway)
• Assignment review and a technical interview with Risk Managers for 45-60 minutes.
• Final Interview 45 minutes.