Loans Manager for FLDG

Company description

Netbank is a start-up fintech led bank, focused on the under-served. Its model is to:

• Partner with Fintechs, banks and non-bank lenders, who have existing client networks or are looking to enter the Philippines
• Allow these partners to sign-up clients, for an origination fee, booked on Netbanks balance sheet. Netbank would provide:
• Loans to clients, so the partners can grow without raising additional capital
• Deposit accounts for clients, serviced by the partner (on a white-label basis)
• Payment services to clients, including ACH payments, access to cards, payment to wallets, etc.
• Technology services to the partners, allowing them more efficient processing and better client satisfaction

Netbank Virtual is a product area of Netbank, offering banking as a service via APIs to local fintech and international fintech looking to enter the market. It expects to offer services in:

• Disburse funds: Payments via ACH, payments to wallets, payments to cash.
• Collect funds: Receive funds from the above channels
• Open transaction accounts / wallets
• Open loan accounts.

Netbank will offer segment specific solutions, aiming to roll-out products to a pilot client and then a range of similar clients.

Responsibilities:

This position is a member of the team responsible for services to lenders.

The FLDG Loans Manager is responsible for product and business development for cash loans, mostly under FLDG.

The steps in product development will be:

• Definition of product design to understand the data that can be gathered from the platform / payroll provider
• Understanding of the repayment process to ensure these loans are self-liquidating
• Assessment of size of loan partner, growth opportunity
• Identification of additional data that may be available on the end client
• Definition of data sources that can be used to assess creditworthiness.
• Creation of legal agreements / specific processes to reduce credit risk
• Definition of process design (document sharing, etc.)
• Legal and contractual work with the platform / with the borrower
• Product definition (term, tenor, etc.)

The steps in partner development will be:

• Understand the product that Netbank can provide to end clients.
• Listen carefully to the situation of these lenders and align our sales strategy to their situation
• Describe the solution and work with the partners as they develop the solution. Explain the regulation, the options, the financial implications.
• Provide advisory services to potential partners, to accelerate the on-boarding process and prove our culture of relentless implementation
• Commercial negotiation
• Support clients through implementation. Work closely with the clients to on-board them.

The steps in partner optimisation will be:

• Identify product enhancements which ensure we meet the full needs of our end clients around lending products.
• Identify causes of losses and ways to reduce these losses through credit risk mitigations
• Identify additional products to sell to the end clients, such as additional loans, accounts, insurance, etc.
• Identify how we can support internal processes of partners, such as by implementing collection accounts, etc.

As with all solutions providers, the position holder will need to:

• Deeply understand client needs for the proposed services and identify ways that Netbank can provide a product significantly better than the competition
• Implement the product to achieve this differentiation, including ensuring the technical system capabilities can meet client requirement
• Managing a highly professional sales and on-boarding process, which responds at the speed that Fintech demand, keeps partners fully informed through the implementation process.
• Identify additional services which clients need and propose these to clients. Identify product gaps and identify technical partnerships and technology solutions that allow us to offer these services.

Metrics to monitor

• Number of new partners signed up
• Revenue generated within vehicle lending
• Number of new products offered relevant for these partners

Required skills and qualifications

• Industry awareness
• Knowledge of Cash loans / consumer lending
• Views on opportunities in the market, new opportunities, etc.
• Business development skills.
• Enjoy sales process
• Confidence to proactively contact new clients
• Empathy to understand needs of organizations
• Creativity to identify best banking solutions
• Creativity in banking product design
• Apply existing best practices while being aware that existing practices in the Philippines may not be optimal.
• Risk awareness
• Ability to calculate / estimate expected loss rates and identify the required pricing
• Ability to understand the profit implications of different pricing proposals
• Identification of ways to predict losses (churn, etc.)
• Awareness of collections processes and ways to get data to ensure collection
• Innovation
• Interest in new technologies / data sources that may allow Netbank to lower credit risk
• Drive and impatience
• Self-starter, following opportunities
• Desire to move forward with projects and clients
• Finding the fastest way to implement

Initial tasks

• Complete the implementation with Sprout
• Review international experience on ways to reduce credit risk. Input into Credit decisioning process.
• Identify other partners able to provide data on employed individuals - focus on HRIS providers, etc.
• Identify additional product components needed to implement with other providers, such as customer front-ends, splitting of client payment flows, apps / SDKs for providing end clients data on their loans, etc.