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Supporting My Community Finance
My Community Finance (MCF) had ambitions to significantly grow its lending and give everyone access to fairly priced products through its Credit Union network
The firm did not have a specialist credit risk team in place, and required support through the entire credit cycle to ensure the portfolio risk was well managed during the period of growth
Building a team from scratch could have taken a considerable amount of time and can be difficult to ensure the right people are recruited the first-time round, potentially wasting valuable resources
Vestigo started working with MCF in 2018 and since then have been engaged on an outsourced basis, working closely with the senior leadership team to deliver best practice risk management
This enabled MCF to rapidly build the credit risk infrastructure the business needed, and allowed management to focus on developing the wider business
As the risk team for MCF, Vestigo have worked internally and externally with key stakeholders providing credit risk input and expertise in business initiatives
The team have been responsible for a number of significant value adding projects, such as developing a new underwriting strategy and optimising new loan pricing
The partnership has been led by a Partner of Vestigo, supported by a team of consultants and analysts
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