RedCarpet - AVP/Lead Business Analyst - Risk Policy - Credit Card Portfolio (7-15 yrs)
- RedCarpet is one of India's largest issuers of revolving credit instruments to the new-to-credit market. We have over 1.7 lakh plastic in 28 cities and a couple of million users of virtual revolving credit on our app. Our products include different kinds of cards as well as the new upcoming UPI 2.0 Overdraft system. At RedCarpet, we have built and own the stack - everything from acquisition to underwriting to collections is built in house. We also leverage our NBFC subsidiary (Redux Credit Finance Pvt Ltd) to power some of these lines.
- This is what our card looks like : https://www.redcarpetup.com/2019/12/19/redcarpet-card-design/
- We have been EBITDA profitable since the beginning of 2020 ... and we still are EBITDA profitable (after accounting for COVID moratorium and RBI additional provisioning). We are beating the industry on collections and have one of the lowest portfolio-under-moratorium in the industry.We see industry and regulatory tailwinds in the near future - it is a matter of time before RBI opens up credit card issuance to NBFC.
- We are targeting a multi-billion dollar market (on the lower end) while building a fundamental #MakeInIndia company. We work closely with the Niti Aayog, RBI, NPCI and the Startupindia/DIPP and contribute our policy papers and opinions on a highly regulated space like lending.
- We have chosen to take a higher ethical ground through design, long before privacy concerns ever surfaced in India - https://www.redcarpetup.com/2017/11/29/design-for-honesty/
- We are building the Capital One of India. We are creating very smart, high engagement, revolving credit products for India. Think credit cards and UPI 2.0 OD accounts. We will build on top of all kinds of regulatory infrastructure.
- This is who we are - https://www.redcarpetup.com/careers/ and https://www.instagram.com/redcarpetuplife/
Some of the press around what we are doing is here.
- https://youtu.be/xoZsNN9UGlQ?t=301 (Google Launchpad best startup feature)
- https://twitter.com/DIPPGOI/status/938345126526459905/photo/1 (showcased at GES innovation summit for the PMO)
Expertise & Skill Requirement :
- GATING CRITERIA: This role is specific for people from credit card background. You need to have worked on risk in credit cards.
- MOST IMPORTANT: Developing account level valuation frameworks to develop credit policies using NPV framework to optimise portfolio level economic returns. This is a P&L ownership role
- IMPORTANT: Excellent working knowledge of SAS, SPSS, SQL, R and Python etc. to perform risk, financial and data analyses including profiling, sampling, reconciliation, and quality testing
- PREFERRED: in-depth knowledge of machine learning algorithms and risk scorecard creation
- Ability to evaluate Credit cards Product programs/Policies in line with regulatory guidelines and build strong controls to mitigate risks across all spectrums (Onboarding, Credit, Operations, Fraud, Reputation etc).
- Excellent Product knowledge across all elements of Credit Cards Product & have a 360-degree view of the market, strong in risk management skills, ability to have foresight on portfolio direction, loss estimates and how to control the same.
- Conduct Portfolio Analysis and Monitor Portfolio delinquencies at a micro level, identification of segments, programs, locations and profiles which are delinquent. Experience in portfolio management, which includes but is not limited to credit limit management, risk-based pricing, retention strategies, overlimit policies etc.
- Prepare green-light and transaction approval memos, credit approval memos ( handling stressed accounts/ high activity accounts), build cash flow models and conduct sensitivity analyses.
- Facilitate implementation of technological interventions like scorecards, digital journeys and automation to streamline processes from login to disbursal
Compensation will include market standard salary and significant ownership of the company through stock options.
Important : For the next 12 months - we are open to this being a remote/WFH role.