Vice President - Expected Credit Loss Management

Job Role : VP - ECL Management

Based at: Mumbai

Reporting to: SVP - Data Governance & ECL Management

Department Head: CRO

Job Designation: SM1

People reporting: 3 Direct Reportees (M3/M1 level) to this position

Key Product experience - Retail Lending Products

Job Summary:

The candidate will lead the ECL Management and Loss Forecasting team. The ideal candidate will have a background in credit risk management and financial modeling as well as a cost controller. This role involves leading a team of analysts to maintain and implement robust ECL models, ensuring compliance with regulatory requirements. This also involves providing annual and monthly loss forecasts/estimates to support budgeting. He/she will work closely with various departments like finance, collections, risk policy and others to carry out the above activities.

Key Responsibilities:

- Lead and manage the ECL Management and Loss Forecasting team.

- Develop, maintain and manage all ECL models in compliance with IFRS 9 standards.

- Oversee the implementation of ECL models ensuring proper calibration, validation, and documentation of models.

- Manage all ECL audits incl. stat audits and regulatory inspections

- Analyse and interpret financial data to provide credit loss forecast and outlook

- Collaborate/liaise with other departments to gather necessary data and insights for forecasting

- Prepare and present detailed reports on loss forecasts to senior management and stakeholders.

- Stay updated with industry best practices, regulatory changes, and advancements in loss forecasting and expected credit loss management

Qualifications:

- Chartered Accountant (additional professional certification (e.g., CFA, FRM) is preferred.)

- Minimum of 6-8 years of experience in loss forecasting/ECL management, or a related role.

- Overall experience of around 13-15 years of experience

- Familiarity with regulatory requirements and industry standards related to accounting standards/ IFRS9

- Familiarity with net flow rates, gross flow rates, recovery rates, cost of recovery etc.

- Experience as a cost controller, credit cost/loss budgeting

- Excellent communication and leadership skills.

- Ability to work collaboratively with cross-functional teams

- Detail-oriented with a strong focus on accuracy and compliance.

Preferred Qualifications:

- Certification (e.g., CFA, FRM).

Key Competencies:

- Leadership and team management

- Strategic thinking and planning

- Attention to detail and accuracy

- Strong organizational skills