AddressThe role of Head of Credit Policy is a crucial and strategic position that involves overseeing and managing the credit risk framework and policies of the organization. Here is an overview of the typical job profile for this role:
Credit Policy Development :
- Design and develop credit & underwriting policies that align with the overall business strategy of the Fintech business.
- Establish credit risk assessment criteria and methodologies to evaluate the creditworthiness of potential borrowers.
Compliance :
- Ensure that credit policies and practices comply with regulatory requirements as per RBI and industry standards.
- Stay abreast of changes in regulations related to credit and lending, and update policies accordingly.
Portfolio Analysis :
- Analyze the performance of the existing credit portfolio, identifying trends and areas of concern.
- Provide insights and recommendations for optimizing the credit portfolio to achieve business goals.
Collaboration :
- Collaborate with other departments such as finance, Product and technology to ensure alignment of credit policies with overall business objectives.
- Work closely with data analytics teams to leverage data-driven insights for credit decision-making.
Credit Decisioning :
- Develop and refine credit scoring models and decisioning processes.
- Establish underwriting guidelines and criteria for approving or denying credit applications.
Monitoring and Reporting :
- Implement systems and processes to monitor credit exposures and track key credit underwriting metrics.
- Generate regular reports for senior management and stakeholders on the credit portfolio's performance and risk profile.
Training and Development :
- Provide training and guidance to the credit team and other relevant departments on credit policies, procedures, and best practices.
Customer Experience :
- Balance risk considerations with the need to provide a positive and stream lined experience for customers during the credit application process.
- The Head of Credit Policy plays a key role in shaping the credit risk strategy of the fintech company, contributing significantly to its growth and sustainability.
