Interim Chief Risk Officer — Housing Finance Asset Review

The mandate

A whistleblower alleged that collateral refreshes and project-completion evidence were overridden for several concentrated developer-linked exposures, leading the board to place the CRO on leave. Routine underwriting continues under delegation, but portfolio grading and provision judgements need independent executive ownership.

The interim is required within two weeks for an eleven-month fixed assignment. A permanent CRO search will follow the independent asset review, with up to six weeks inside the term for regulatory approval and transfer.

Handover is complete when the defined portfolio has been re-underwritten, collateral and completion evidence is refreshed, staging and provisions reconcile to Finance, concentration actions are board-approved, and internal audit accepts the revised override controls. The successor must review and sign the first post-remediation portfolio pack.

The interim may suspend credit delegations, require revaluation, change internal grades and commission reviews within a ₹6 crore allowance. Write-offs above ₹25 crore, portfolio sales, risk-appetite changes, new developer limits above ₹100 crore and permanent appointments remain Board Risk Committee decisions.

Collections execution, property disposal and investigation of the whistleblower allegation are outside scope. The interim will provide risk evidence but cannot direct Legal, Internal Audit or Human Resources conclusions.

Why this seat is open

The allegation compromises the independence of current portfolio attestations. Internal deputies approved portions of the affected book and cannot lead its neutral reassessment. A temporary CRO can protect daily risk decisions while producing a credible baseline for permanent succession.

What you will own

• Define the asset-review perimeter using concentration, override frequency, collateral age, completion dependency and repayment behaviour.
• Re-underwrite each selected exposure and document grade, valuation, cash-flow and sponsor-support conclusions.
• Decide which credit powers remain withdrawn until independent samples prove the revised override control operates.
• Reconcile risk staging and provision recommendations to Finance with a signed bridge for every material difference.
• Present board choices for reduction, additional security, restructuring or exit of concentrated exposures.
• Commission operating-effectiveness testing of valuation, completion monitoring and policy-exception controls.
• Transfer the reviewed portfolio, approved concentration actions, model limitations, talent findings and committee calendar to the successor.

Candidate qualifications

• Held CRO, chief credit officer or portfolio-risk director authority in housing finance, mortgages or secured lending.
• Led an independent asset-quality review with collateral, construction and sponsor-support complexities.
• Made staging, provisioning and concentration recommendations under board and auditor challenge.
• Withdrew or recalibrated credit delegations after evidence of policy-override weakness.
• Directed valuation and portfolio analytics specialists across a geographically distributed loan book.
• Understands Indian housing-finance prudential rules, collateral governance and expected-credit-loss requirements.

Non-negotiables

• Can assume Mumbai risk authority within fourteen days.
• No prior role in originating, valuing or auditing the selected exposures.
• Will preserve the whistleblower investigation's independence and information barriers.
• Must accept a fixed handover after the first post-remediation portfolio cycle.

1. 49 words maximum. Confirm availability and disclose any developer, valuer or lender conflict relevant to Mumbai housing finance.
2. 49 words maximum. Describe an asset review where your grade or provision differed materially from management's view.
3. 49 words maximum. Which evidence would make you reject a refreshed property valuation?