Head of Credit Assurance

Finance

Remote

South Africa

Permanent

An exceptional challenge must be met by exceptional people. Every day, we are inspired by the opportunity to collaborate and learn from our talented colleagues. Smart, passionate and driven, we take pride in what we do together, as JUMOnauts.



About this job

As Head of Credit Assurance you will be accountable for driving compliance and governance across the Finance and Data & Prediction teams, along with developing a standardised view of credit metrics for all capital providers to report on performance across the platform. You will be based in South Africa and will report to the Deputy CFO.

 

You will 

Review the Provision model and oversee IFRS 9 compliance, by;

  • Acting as independent 2nd line of defense with respect to review of;
    • Provision model output
    • Management overrides
    • Forward looking overrides
  • Performing technical review of new provision models (related to new product deployments), as well as, major provision model changes (write off period adjustments).
  • Ensuring IFRS9 documentation is updated as required and compiled across new products for audit purposes.
  • Following up monthly on back testing of provision model and overrides to ensure accuracy and flag any issues.

Manage the Risk Adjusted Revenue Committee (RARC), by;

  • Maintaining and developing JUMO’s Provision Override framework with appropriate thresholds, authorisations and reporting requirements.
  • Acting as the Chair of the Risk Adjusted Return Committee (RARC) to ensure timeous and accurate sign-off of provisions and overrides.
  • Chairing meetings; ensure action items are followed up and ensure all areas of material judgment are reviewed and agreed on a monthly basis.
  • Ensuring RARC minutes are kept and all overrides are formally approved.
  • Ensuring timely reporting of provision adequacy information to the RARC ahead of the session; including Cost of Risk comparisons, Provision balance analysis, Early Collections trends, Backtesting information and Risk Adjusted Revenue analysis. 
  • Escalating provision override decisions as required for sign off.
  • Developing an independent view of Cost of Risk levels for various portfolio and funder segments of the platform. 
  • Ensuring RARC meetings are managed within reporting timelines and all overrides and agreed and process and RARC outputs are published in a timely manner. 

Oversee reporting to the Audit and Risk Committee (ARC) and compliance reporting, by;

  • Providing concise and clear reporting to the ARC on top Credit and Portfolio related risks.
  • Effectively communicating performance of provision model and overrides against actuals.
  • Acting as independent 2nd line check and challenge of Data & Portfolio related reporting.

Conduct Model validation and Review, by;

  • Performing independent 2nd line model validation on highest risk and impact models used for decision making at JUMO.
  • Maintaining Model Inventory and assessing risk of models.
  • Ensuring that the Model Risk Policy is effectively adhered to across teams.
  • Acting as review and sign off party to Credit Scorecards and ML models.
  • Ensuring that the Model Approval Process is followed for new credit scorecards.

Conduct Portfolio Management Review, by;

  • Acting as sign-off and review party to portfolio and product changes.
  • Ensuring portfolio management change process is adhered to.
  • Suggesting changes to process to optimize effectiveness and manage risk.
  • Working with the D&P team to define and monitor the credit risk policy for JUMO.

Conduct Asset Management Review, by;

  • Acting as sign-off and review party to Asset Allocation changes above threshold.
  • Periodically reviewing Asset Management and Asset Allocation methodology and reporting.
  • Ensuring that yield mandates of funders are adhered to.

Drive Risk Adjusted Revenue and Credit Reporting, by;

  • Championing the deployment of robust credit quality assurance monitoring and reporting tools including MIS, dashboard reporting, integrated credit risk monitoring at portfolio level, etc.
  • Working with the FP&A team to;
    • Perform any ad hoc credit related analysis post RARC reporting.
    • Accurately and succinctly explain monthly variations in credit metrics and bridge results to Short & Medium Term plan as well as prior month actuals and provide insights to those metrics.
    • Design and implementation of standard credit reporting across portfolios, products and credit providers.

 

You will need

  • Minimum qualification includes a completed undergraduate degree within the FRM and/or Quantitative Finance space.
  • 10 - 12 years  experience in credit risk & capital management reporting in high volume financial services environments.
  • Consumer finance and quantitative modeling skills such as scorecards, run-off triangles, IFRS 9 models, etc.
  • Experience reporting to the Audit and Risk Committee.
  • Experience in quantitative model validation and review.
  • Excellent communication skills, both orally and written / ability to report at ARC level.
  • Strong interpersonal skills and ability to successfully develop and maintain long-standing business relationships.
  • Outstanding integrity, solid moral judgment, and the ability to make important decisions under pressure.
  • Excellent analytical skills.
  • Highly Process driven.

Bonus if you have 

  • SQL ability advantageous.
  • Relevant professional Finance certification.
  • Experience working in a startup or growth environment.
  • Exposure to a Fintech and/or Technology business environment.
  • Emerging market experience.

We ask a lot of each other at JUMO, but we give a lot too. 

 

You will love

  • Collaborating with smart, engaging people in an inspiring work environment.
  • Working for impact.
  • Growing and learning continuously, with loads of encouragement and support.
  • Boldly taking risks as we navigate new challenges.
  • Flexible work practices enabling your best delivery.
  • Being autonomous and empowered to lead.

 

Remote First

You will be based in South Africa.  We operate a remote first working approach where working remotely is our default way of working. We have co-working spaces available in Cape Town for collaboration and connection and for the use of those who value and want to work out of an office. You have flexibility where to work from, as long as you have access to a reliable connection and are set up to work remotely.

 

Diversity and Inclusion

At JUMO, we believe that diversity strengthens our teams and we strive in our recruitment process to create an environment where people from every background can collaborate and prosper and be themselves. 

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