The core tension
The institution's purpose is served only when access to finance remains compatible with affordability, fair treatment and a resilient balance sheet. The Audit and NRC chairs together determine whether the Board receives truthful evidence and whether leadership systems reward the right outcomes. The incoming director must be willing to challenge growth that is operationally impressive but economically or ethically fragile.
Chairing Audit through the life of a loan
Assurance will follow the loan from source and consent through underwriting, documentation, disbursement, servicing, collection, modification and closure. The committee should understand where data is captured, changed or overridden; which activities sit with third parties; and how customer, credit and accounting records reconcile.
Provisioning will be examined through vintage, roll rates, cure, restructuring, collateral, recovery and realised loss. Management overlays require documented evidence, governance and subsequent back-testing. The Chair will be alert to changes in portfolio mix or growth rate that make headline delinquency temporarily less informative.
Other priorities include revenue and fee recognition, fraud, related parties, technology access, suspense and reconciliation items, assignment or securitisation, vendor controls, whistle-blower cases and regulatory reporting. Findings should remain open until the relevant behaviour or design has changed—not merely until documentation is supplied.
Chairing NRC through the risk outcome
The NRC will maintain emergency and developed succession for the CEO, CFO, CRO, compliance, internal audit, technology and operating leadership. It will assess whether control functions have authority and direct access commensurate with their accountability.
Executive reward should incorporate portfolio seasoning, customer outcome, collections conduct, control closure and capital efficiency. The Chair will test deferral and malus under scenarios in which later defaults or complaints reverse earlier performance. Frontline target governance also matters: aggressive measures can produce misrepresentation or coercion before they appear in formal conduct data.
A defined first-year assignment
The director will ask management to select one customer segment and build a single Board evidence chain from acquisition economics to three-year risk-adjusted return and customer outcome. The exercise should expose data breaks, contradictory incentives and uncertainty in the original business case. The result will inform Audit scope, NRC scorecards and strategy—not create a new management programme.
Candidate fit
The Board welcomes former financial-services CEOs, CFOs, CROs, audit partners, retail-credit leaders and regulators with strong people judgement. Applicants should have governed credit and customer operations at scale, challenged provisioning or growth assumptions, and made senior succession decisions. Dual-chair experience is desirable. Statutory independence, conflict clearance and Independent Directors' Databank compliance are essential, as is capacity for quarterly reviews, NRC work and occasional field or branch visits.
Registration on the IICA Independent Directors Databank is required before appointment. A DIN is not needed to apply: where an appointee does not yet hold one, it is obtained through the appointing company at the point of appointment.