Chief Economist

ROLE SUMMARY (PURPOSE)

Muthoot FinCorp Ltd. (MFL) is seeking a forward-looking Economist to lead economic and industry research that aligns with our growth strategy and digital transformation efforts. This role involves tracking and analyzing economic, industry, and regulatory trends, with a focus on serving the financial needs of low- to middle-income households and identifying opportunities for business expansion.

Chief Economist will monitor income progression trends, anticipate new opportunities in adjacent businesses of gold loans, mortgage lending, and unsecured loans, and provide insights to inform MFL’s strategic initiatives.

The role also supports the broader objectives of Muthoot Pappachan Group (MPG), including microfinance, housing finance, and automotive finance.

KEY RESPONSIBILITIES

External Environment Tracking

1. Monitor economic and industry trends relevant to MFL’s business model, focusing on shifts within low- and middle-income households, the NBFC sector, and product markets.
2. Track developments in digital finance and fintech, evaluating growth opportunities for MFL’s digital business channels, such as MFL One and QR code-enabled lending.
3. Provide timely insights on regulatory changes impacting MFL and MPG’s sister companies (Muthoot Microfin, Muthoot Housing Finance, and Muthoot Capital Services Ltd) to ensure group-wide alignment and resilience.

Income Progression and Opportunity Analysis

1. Analyze economic and demographic data to understand income progression within low-income households and their transition to middle-income status, identifying new product and service opportunities
2. Monitor income progression trends, anticipate new opportunities in adjacent businesses of gold loans, mortgage lending, and unsecured loans, and provide insights to inform MFL’s strategic initiatives.
3. Constantly explore adjacent markets and services, recommending new growth avenues for MFL and MPG to leverage existing capabilities in emerging areas.

Research and Analysis for Future Financial Services

1. Conducting economic research that forecasts trends in financial services, with an emphasis on digital finance, automation, and financial inclusion.
2. Develop econometric models and scenario analyses to assess risks, project market demand, and identify growth opportunities across MFL’s traditional and digital offerings.
3. Conduct data-driven analyses on economic factors influencing product uptake, risk profiles, and customer behavior for both traditional and digital products.

Strategic Reporting and Insights

1. Prepare economic reports and strategic insights for senior management, the Risk Management Committee, and the Board of Directors, focusing on income progression trends and adjacent market opportunities.
2. Provide actionable recommendations to guide MFL’s business expansion, product innovation, and digital transformation, with strategies informed by income-based market segmentation.
3. Deliver insights to help MFL adapt to changing economic conditions, supporting the growth objectives of both traditional and digital business channels.

Group-Wide and Stakeholder Engagement

1. Collaborate with stakeholders across MFL and MPG companies, ensuring a cohesive understanding of economic factors impacting group operations, including lending, housing finance, and automotive finance.
2. Engage with lenders, investors, regulators, and industry forums, effectively communicating MFL’s economic outlook and strategic direction in the context of MPG’s broader business ecosystem.
3. Establish partnerships with external research institutions to bring valuable industry insights that support MFL and MPG’s objectives in financial inclusion and business growth.

KEY INTERACTIONS

Internal Stakeholders

1. Board of Directors
2. Senior Management
3. Risk Management
4. Treasury
5. Marketing
6. Compliance
7. People & Culture
8. Finance
9. Operations

External Stakeholders

1. Regulatory Bodies
2. Government Agencies
3. Financial Institutions

KEY ROLE DIMENSIONS

Geographical coverage – PAN India

Direct reportees – Individual contributor

Total team size – Individual contributor

KEY SKILLS & BEHAVIOURAL ATTRIBUTES

Key Skills

Macroeconomics Analysis, Quantitative Skills, Market Insight, Stakeholder Engagement, Cross- Functional collaboration, Regulatory Knowledge, Policy Advocacy.

Behavioral Attributes- Driven and in alignment with our Purpose “Transforming the life of the common man by improving their financial well-being” and anchored by our core value of integrity, collaboration, and excellence.

EDUCATION / EXPERIENCE

Educational Qualification –Postgraduate in Economics, Finance, or a related field, with 15 years of proven experience in economic analysis within the financial services industry.

Expertise in forecasting, econometric modeling, and scenario analysis, particularly in the areas of digital finance, low- to middle-income markets, and adjacent business opportunities.