Director of Credit

Job Description

About WeRize

Founded in 2019 by Vishal Chopra and Himanshu Gupta, WeRize is building Indias largest full stack fintechplatform for 500 million underserved middle-class customers who live in 5000+ small towns of India. WeRize (Wortgage technologies pvt ltd) also owns RBI registered NBFC subsidiary (Wortgage Finance pvt ltd). This customer segmentis not served by privatesector banks, Insurersand Mutual Fund companies due to their low ticket-size and lifetime value and is dependent on PSU/Govt. banks. PSU/Government banks rarely provide financial products beyond basic savings accounts and these customers lack access to unsecured loans, MSME loans, credit cards, affordable housing loans, loan against property , health and life insurance and investment products.

WeRize manufactures innovative unsecured consumer credit, mortgages, loan against property, MSME loans,savings and insurance products designed for this customer base keeping in mind their needs, requirements and purchasing power, with a view to add a layer of financial security to their lives and enable access to credit.While customers in these geographies use smartphones, they need properguidance and support when purchasing the right financial products for themselves. So, a pure digital model doesnt work for this segment. WeRize has innovated on this front through its Finance ki online dukaan (Social Shopify of Finance), a first of its kind social distribution tech platform in the financial services space that educates and enables local financially literate freelancers across these small towns to source business through online and offline channels, recommend the right financial product(s) to customers as well as provide after sales support.These freelancers, who are located in more than 5000+ towns and cities, earn as much as INR 30,000 a month from WeRize in commissions.

Our social distribution platform supported by financially literatefreelancers means exceptionally low cost of customer acquisition (CAC) and operations costs compared to both fully digital and on-the-ground financial services providers. Digital conversions among this target group are way lower when comparedto upper income customers in metros and hence pure digital CAC doesnt workfor this segment. While companies like LIC and Fino Bank also rely on freelancer distribution, they deploy local on-fieldteams/branches to manage freelancers in every city. That resultsin very high CAC and operations costs for such companies. WeRize on the other hand, has been able to acquire, train and manage thousandsof freelancers in 5000+ citiesonly through its tech platform and without any feet-on-street team of its own. This results in highly profitable business model for Werize. To know more about the company, please visit: https://www.werize.com.

Role Description

This is a full-time on-site (Bengaluru) role for Associate Director/Director Credit MSME position at WeRize. The ideal candidate should have a robust background in business loan/MSME/LAP credit underwriting between 1L to 10L amount, a keen understanding of MSME underwriting based on bank statement and GST data, and a proven track record of managing MSME/ LAP credit risk. As an Associate Director/Director, He/She will be a people manager and play a crucial role in evaluating creditworthiness, ensuring compliance with credit policies, and contributing to the growth of our MSME lending portfolio.

Qualifications

- Masters degree in business, Finance or Economics.
- Underwritten ticket size only between 1L 10Lakhs.
- Minimum of 10-15 years of experience in MSME/LAP/unsecured business loan underwriting.
- Handling a region or a zone in the current role, people manager, preferably from NBFC/Fintech background.
- Decent enough understanding on CGTMSE, CGFMU, various other MSME applicable state and central government schemes.
- Assess and analyze credit applications for MSME unsecured business loans, considering factors such as GST return, bank statements and industry trends.
- Extensively worked on proprietorship/partnership kind of profiles in the past.
- Conduct thorough risk assessments and provide insightful recommendations to decision-makers.
- Develop and implement credit risk management strategies to maintain a healthy loan portfolio.
- Monitor existing loan accounts, identifying potential risks, and proposing proactive solutions to mitigate credit issues.
- Create and monitor policy based on understanding and best practices followed in the MSME lending industry.
- Work closely with external stake holders (Lenders) internal cross-functional teams, including sales, operations to facilitate a smooth and efficient credit approval process.
- Provide guidance to junior team members and foster a collaborative and knowledge-sharing environment.
- Have handled team size of 10-15 people at least in the past.

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