Challenge/Reason for hiring
- Clermont, a multi-billion dollar investment company wanted to set-up a Housing Finance Company in India to take the advantage of the high demand in the said sector;
- Company decided to start Indie Home Loans which focuses on Housing Finance instruments with HQ in Mumbai;
- This green-field venture focused on building the leadership team as part of the first step and hence the role of CRO came into picture;
- Chief Risk Officer role focused on ‘risk analytics’ function as against the traditional role of CRO which would ideally manage credit risk, market risk and operations risk;
- CRO in this context would be responsible to build risk framework from scratch and build a strong foundation from the risk standpoint i.e. creating analytics model, dealing with credit risk agencies, etc;
Impact made by the incumbent post taking up the position
- The candidates completed a year and has successfully established framework and set up systems policy and process. He has ensured that the company is ready to kick start operations.
How did Hunt Partners help / What did Hunt Partners do differently
- Keeping the client demand in mind, HP ensured that Chief Risk Officer/Risk Analytics individuals who are part of global/domestic banks and are specifically managing the said function are considered. Having a prior experience of setting up the risk analytics function and successfully running it for few years was an important must have. This would also involve considering the credit risk agencies as well;
- Hence, entire market was covered (across industries like credit card, lending – bank & NBFC, Insurance etc) and client was presented with individuals across companies/functions which helped them to take an informed decision.