Senior Vice President - Personal Loans

Company Description SK Finance Limited is a Middle Layer NBFC with over 31 years of financial excellence, enabling customers through vehicle loans, small business loans, and personal loans, primarily in rural and semi-urban areas of North, West, and Central India. The company operates across 12 states and 2 union territories with more than 700 branches, managing assets under management of INR 15,755 crore and employing over 12,800 team members. SK Finance is known for strong underwriting standards, continuous innovation, and a deep commitment to customer-centricity, including serving unserved and underserved segments of society. The organization is driven by a mission to create positive social impact, viewing every customer as a key contributor to its growth. SK Finance is backed by leading private equity investors such as Norwest Venture Partners, TPG Capital, Baring India, Evolvence India, and others, reflecting its strong market credibility and long-term vision.

Role Description The Business Head – Personal Loans will be responsible for establishing, scaling, and managing the Personal Loan business as a strategic growth vertical for the organization. The incumbent will own the complete business P&L and drive the development of a sustainable, profitable, and scalable lending franchise with strong focus on portfolio quality, digital lending capabilities, customer experience, operational efficiency, and regulatory compliance. The role will lead end-to-end business management across product strategy, credit policy alignment, digital partnerships, risk management, underwriting framework, sales distribution, collections, analytics, technology enablement, and portfolio profitability. The position is expected to build a best-in-class Personal Loan platform leveraging digital underwriting, alternative data, AI/ML-driven decisioning, Business Rule Engines (BRE), automated customer journeys, and strategic partnerships across fintech ecosystems.

Key Responsibilities

1. Business Strategy & P&L Ownership

• Own and deliver Annual Business Plan, Revenue Targets, Profitability, Market Share and Portfolio Growth.
• Define short-term and long-term strategic roadmap for the Personal Loan business.
• Drive sustainable portfolio expansion while maintaining acceptable risk-adjusted returns.
• Build annual operating plans, budgets, forecasts, and resource allocation models.
• Track and optimize key business metrics including:
• Disbursements
• Yield
• ROA / ROE
• Cost-to-Income Ratio
• Customer Acquisition Cost (CAC)
• Portfolio Quality
• Collections Efficiency

2. Product Development & Customer Proposition

• Develop and manage Personal Loan products for Salaried customers
• Drive innovation in:
• Risk-Based Pricing
• Loan Amount Structures
• Tenure Programs
• Cross-Sell Offerings
• Pre-Approved Loans
• Embedded Finance Solutions
• Continuously benchmark market offerings and introduce differentiated customer propositions.

3. Digital Lending & Technology Transformation

• Build and scale fully digital Personal Loan journeys with Straight-Through Processing (STP).
• Lead implementation of:
• Loan Origination Systems (LOS)
• Business Rule Engines (BRE)
• Credit Decision Engines
• e-KYC/ CKYC
• Account Aggregator Framework
• API-based Banking Data Verification
• e-Sign & Digital Documentation
• Drive automation across sourcing, underwriting, approval, disbursement, servicing, and collections workflows.
• Leverage AI, ML, Analytics, Bureau Data, and Alternative Data for customer acquisition and credit decisioning.

4. Distribution & Channel Expansion

Develop and scale a diversified sourcing ecosystem comprising:

• Digital Marketing Channels
• Fintech Partnerships
• Loan Marketplaces
• Embedded Lending Partnerships
• Strategic Alliances

Drive acquisition productivity, sourcing quality, onboarding efficiency, and cost optimization across all channels.

5. Credit, Risk & Portfolio Management

• Partner closely with Risk and Credit teams to define underwriting policies and portfolio risk frameworks.
• Design scorecards, segmentation models, risk triggers, and portfolio monitoring mechanisms.
• Establish early warning systems and portfolio surveillance frameworks.
• Ensure alignment between growth objectives and risk appetite.
• Monitor:
• Approval Rates
• First Payment Defaults (FPD)
• Delinquency Trends
• Vintage Performance
• Loss Rates
• Fraud Indicators

6. Collections & Portfolio Quality

• Develop end-to-end collections and recovery strategy across customer segments.
• Drive bucket-wise collection efficiency and recovery optimization.
• Build segmentation-based collection models.
• Collaborate closely with collection teams for portfolio health management.
• Ensure portfolio quality metrics remain within approved risk thresholds.

7. Partnerships & Ecosystem Development

• Build strategic alliances with:
• Fintechs
• Loan Service Providers (LSPs)
• Credit Bureaus
• Account Aggregators
• Data Providers
• Technology Vendors
• Digital Marketplaces
• Evaluate and negotiate commercial structures that maximize profitability while ensuring regulatory compliance.

8. Governance, Compliance & Regulatory Management

• Ensure full compliance with:
• RBI Digital Lending Guidelines
• NBFC Regulations
• KYC/AML Requirements
• Fair Practices Code
• Data Privacy Standards
• Customer Protection Frameworks
• Drive governance forums for portfolio review, risk review, customer complaints, audit observations, and regulatory reporting.

9. Team Leadership & Capability Building

• Build and lead a high-performance Personal Loan business team.
• Establish robust KPI and performance management frameworks.
• Drive leadership development and succession planning.
• Foster a culture of accountability, innovation, collaboration, and data-driven decision making.

Key Success Metrics (KPIs)

Business Metrics

• Disbursement Volume
• Revenue & Profitability
• Portfolio Yield
• Market Share

Educational Qualification

• Bachelors Degree in Engineering, Finance, Economics, Statistics, Mathematics, Commerce, or equivalent.
• MBA from Tier-1 or Tier-2 Business School.

Experience Requirements

• 15+ years of experience in Retail Lending, Consumer Finance, Banking, NBFCs, or Fintech Lending.
• Minimum 5 years in senior leadership roles managing Personal Loan, Unsecured Lending, Digital Lending, or Consumer Lending businesses.
• Demonstrated track record of:
• P&L Ownership
• Business Scaling
• Digital Lending
• Portfolio Management
• Risk & Underwriting Frameworks
• Collections Strategy
• Partnership Development
• Experience in scaling businesses from launch to ₹1,000+ Cr portfolio preferred.