Senior Manager - Risk Control Unit (RCU)

We are hiring for RCU Leadership role at Propelld.com. Please find the details as follows:

About Company:

Propelld is a new age lending startup focusing in the education market doing an annual INR 1,000cr disbursal, backed by WestBridge Capital (largest in Financial Services space - backers of Axis, HDFC, CIBIL, AU small finance bank, Sharechat, Mamaearth, etc), looking to grow 20x times in the next 3 years to an eventual IPO. Propelld is set to become one of the largest FinTechs in India over the next 3-4 yrs and hence growth and opportunities will be limitless at this role.

Open Position:

- Leadership role at RCU (position name would be decided basis the experience of the candidate)

Expected deliverables:

- Establishing and maintaining mechanisms for fraud reporting, early fraud warning signals

- Timely revision / modification in strategies, processes, fraud management controls and tools in response to change in fraud patterns,

- Ensure that the RCU team has the essential training, know-how of systems, clear roles & responsibilities,

- On boarding and handling of RCU agencies and ensuring expected outcome has been delivered by them

- Conducting Investigations into the frauds / complaints referred to the unit and / or on cases identified by unit

- Conduct frauds reporting to Management

- Ensure that senior management escalations are fast tracked and closed in conclusive and timely manner

- Ensuring there is adequate collection of documentary evidences for initiating departmental actions

- Have a complete control over the cases referred to identify trends , if any- Supervising & conducting investigations and reporting to management with RCA and process fixes.

- Assist in Regulatory reporting to Compliance & Legal teams.

- Resolving queries raised by Audit & Compliance pertaining to RCU unit

- Represent and liasoning with the regulatory and law enforcement agencies for all fraud risk related matters

- Vendor Cost Management

- MIS Management & analysis of MIS to identify uneven trends & suspicious transactions that require further investigation

- Collection of negative database for updating internal de-dupe database

- Random Post Disbursement checks

- Evaluation of vendor performance Cross verification of Vendor checks

Working with digital fraud checks and the product team to productize fraud signals while onboarding and during performance/periodically for both retail-individual and retail-business units

Desired Candidate Profile:

(1) RCU/FCU with 7-15 years of experience across a bank/NBFC with experience across retail-individual and retail-business (micro businesses with <5cr turnover) fraud/risk

(2) Must be from the lending industry/we aren't looking at FCU professionals from the insurance industry for this position

(3) Very strong interpersonal skills and the ability to build relationships with internal and external stakeholders.

(4) Good negotiation skills

(5) Excellent written and verbal communication skills.

(6) Self starter/Entrepreneurial - has to get hands dirty and build things from scratch, incl. setting up processes and building the team

(6) Experience in 3+ companies in same industry

(7) Fire in belly attitude - we like people who have something to prove

(8) Must be able to work in a highly dynamic environment

(9) High initiatives and ownership - getting work done onus, tweaking processes, working with product and other cross-functional teams to tweak processes

(10) Ability to be logical, to challenge known norms, to be able to define strategy clearly, management presence

Comp:

Salary - no bar for the right candidate + esops.

Note: Our ESOPs are highly valued given the stability of the company (A+ investor, profitable). We have designed this to be best in market with a zero strike price and a 4 year vesting period. We expect our esops to be worth 50x in a median outcome level and 100x in a large outcome level (which we are aiming for). As such, it is a great opportunity for exponential wealth creation.

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