beBee background
Banking / Loans
Festus Igwegbe

Festus Igwegbe

Highly experienced Risk and Compliance Manager
Ijegun, Alimosho


Services provided ₦5,000 / hour

Accounting / Finance (2)
Compliance Consultants
Risk Management Consultants

About Festus Igwegbe:

Risk and Compliance Manager


Prospa Technologies Limited 


| Head of Risk and Compliance (Fintech)

2022-06-14 | Currently work here


• Advise the Institution on various laws, regulations, licensing and standards in various jurisdictions of 

business operations

• Coming up with effective plans to manage a crisis or compliance violation

• Reviewing processes around corporate governance, risks and compliance.

• Advising and addressing business/operations queries on any regulatory changes. 

• Maintaining proper corporate interactions with the relevant local, state, federal governmental bodies to 

ensure the business is up to date with the changing regulatory environment.

• Conduct impact assessments of new regulations/circulars/guidelines and guide business and 

operations in implementing the changes.

• Reviewing applications for new activities/businesses and ensuring conduct of activities are in line with 


• Streamlining and improving existing compliance and operational processes. 

• Conducting regular compliance checks of BAU (Business as usual), client on-boarding, etc.

• Developed the Enterprise risk management framework, ERM Register and several other Policies.

• Built the Compliance PRD (Product Requirement Document) of the Institution in conjunction with the 

Product Development Team.

• Built a compliance chart to track and monitor Institutional compliance to regulatory returns and reporting.

• Built efficient KYC and AML systems for Member onboarding and transaction monitoring.

• Reduced Chargeback cases by 20% after introducing tighter security measures in Account opening.



Mkobo Microfinance Bank Limited

| Head of Credit and Risk Management (Fintech) 2021-11-08 | 2022-06-10


  • Developed the Enterprise risk management framework, ERM Register, Credit policies, processes, procedures and reporting standards that define the bank’s risk strategy and appetite in line with its overall business objectives.
  • Monitoring the business development for emerging risks and recommending policies and procedures to improve the risk management process.
  •     Developed methods to generate a robust system to identify, monitor, manage and control credit, market and operational risks.
  • Facilitating the identification, assessment, measurement, monitoring, controlling and reporting the level of Risks.
  • Maintaining oversight over the bank’s enterprise risk management activities.
  • Acting as the champion of risk management for the Company and help improve Management team understanding of key risk identification, assessment, monitoring and reporting and mitigation.
  • Providing support, education and training to staff in order to create and increase risk awareness.
  • Ensuring proper documentation of credits by adhering to set documentation standards and procedures.
  • Defining credit approval framework and recommend credit approval limits in line with banks’ policy.
  • Analysing and appraising Individual credit requests in accordance with approved policies and procedures to ensure that credit exposures are created subject to stipulated guidelines.
  • Conducting periodic stresstests and scenarioanalysis, assessing the impactto the Bank’s credit portfolio .
  • Reviewing and analysing the delinquent portfolio to identify key causal factors, make recommendations and tracking them to ensure adequate and timelyclosure
  • Responsible for loan recovery, such as negotiating work out plans and strategies for delinquent customers and providing additional support with respect to exposures requiring collection agencies or legal action
  • Monitoring violations of credit policies, providing analysis, conclusion and recommendations, presenting findings to senior management and suggest actions/penalties to be taken when appropriate
  • Preparing timely, comprehensive and reliable credit risk reports to senior management and board on a regular basis
  • Monitoring and managing the performance and development of direct reports.
  • Developing appropriate Risk Management strategies/tools and disseminate appropriate risk management practices in line with developments in business products, change in clients, markets/industry, laws and regulations.
  • Facilitated the reduction of PAR of the Bank to acceptable industry standards.
  • Played a pivotal role in the growth of the Bank’s Loan Portfolio by over100%.
  • Oversaw deployment of Credit risk decision Engine and scorecards for the Bank’s digital Lending Products.


Ekondo Microfinance Bank Limited

Senior level | Risk and Compliance Manager 2017-11-01 | 2021-11-01

  • Routinely review and maintain the Bank’s GeneralLedger Accounts at minimalto no financial loss.
  • Monitor, control and ensure compliance of the Bank’s laid down Policies and Procedures.
  • Enterprise Risk assessment and cost benefit analyses of the Bank’s services and products
  • Develop and implement policies and procedures that reduce credit risk for the Bank.
  • Manage the building of financial models that predict credit risk exposure of the Bank.
  • Monitor and ensure optimal performance of the Bank’s E-Lending Portfolio via Monthly reconciliation.
  • Document and analyze Business impact of the Bank’s E-Channel Income and remittances.
  • Drive the growth of E-Lending Products in the Bank via strategic Performance Management activities.
  • Analyze Financial Data and Oversee the preparation of performance Reports for management.
  • Save the Bank more than 50% in Vendor expenses through Vendor cost reduction derivatives.
  • Uncover and eliminate fraudulent facilities prior to Loan disbursement.
  • Evaluation of financial data, such as balance sheets and income statements to mitigate default risks.
  • Conduct stress and scenario testing, as well as analysis of portfolio at global levels
  • Ensures that project/department milestones/goals are met while adhering to approved budgets.
  • A member of the Bank’s Corporate Strategy and Policy Review/ Development Team
  • Supervise and mentor a Team of proactive Risk Management Staff.
  • Ensuring absolute execution of Regulatory, Statutory and Legal Compliance by the Bank.
  • Recommend and ensure implementation of relevant sanctions upon erring Staff.

Diamond Bank PLC

Senior level | Customer Service & Operations Manager Calabar, Nigeria

2012-07-01 | 2016-05-27


  • Supervise over 30 proactive Branch Operations Staff.
  • Maintain profitability through value based management of Customers and Staff.
  • Maintain effective Vault Management processes by closing within the Branch Insurable Cash limit.
  • Work closely with the Internal Control Unit to effectively achieve zero transaction error rate.
  • Won the award of The Most Operationally Efficient Branch in 2015.
  • Frequently save the Bank over 20% of Vendor and Security costs via competentrecommendations.
  • Generated ATM and Non-interest income of over 9,ooo,ooo Bank via proactive Business support.
  • Saved the Bank the undue cost of replacing ATMs by actively eliminating root causes of the ATM faults.

Diamond Bank PLC

Mid level | Customer Service Representative Calabar, Nigeria

2010-04-01 | 2012-06-30

  • Listen to Customers’ complaints, proffer creative solutions and treat Customers’ Instructions.
  • Generate Account Balances and print Account Statements for customers.
  • Regularly open a daily minimum of 25 new Accounts for prospective Customers.
  • Discover and terminate Business relationship between the Bank and potentially fraudulent Clients
  • Maintain cordial working relationship with the Business Development Team & Manager,
  • Successfully pilot efficient Customer Service delivery and high profitability.
  • Won the Award for Customer Service Excellence in 2012.


Diamond Bank PLC

Entry level | Cash & Teller Services Officer Calabar, Nigeria

2007-08-15 | 2010-03-31

  • Work with the Customer Service Manager & Cash Officer to maintain efficient service dissemination.
  • Frequently Record zero daily Cash difference position.
  • Monitor and ensure that the branch ATM is always online.
  • Schedule Cash swaps with various Banks in order to move excess Vault cash from the Branch
  • Uncovered cases of Deposit conversion by dishonest Tellers, saving the Bank from irreparable losses.
  • Assist the Customer Service Manager and Cash Officer in Vault Management activities.


BSc. Biochemistry and Microbiology from University of Nigeria, Nsukka (2003)

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