NBFC Loan Management System

NBFC SOFTWARE – LENDING BUSINESS ANALYST / FUNCTIONAL CONSULTANT

We are developing a comprehensive NBFC Lending Software and looking for an experienced NBFC/Lending Domain Business Analyst / Techno-Functional Functional Consultant to audit our existing system and identify missing functionality, fields, stages, validations, workflows, permissions, calculations, accounting rules, reports and edge cases.

We are NOT looking for a generic Business Analyst or Data Analyst. Candidate should have real NBFC / Lending / FinTech software implementation experience, preferably with LOS and LMS.

REQUIRED EXPERIENCE

* 5+ years Business Analysis / Functional Consulting preferred
* NBFC / Lending / FinTech domain
* LOS (Loan Origination System)
* LMS (Loan Management System)
* Loan lifecycle
* Collection management
* BRD / FRD / FSD
* Gap analysis
* Workflow/process mapping
* UAT/test cases
* Role & permission design
* Maker-checker
* EMI/repayment
* Lending accounting
* API/integration requirements

MAIN OBJECTIVE

Review our existing software module-by-module and stage-by-stage and identify:

* Missing modules
* Missing fields
* Missing stages
* Missing validations
* Missing approvals
* Missing permissions
* Missing maker-checker controls
* Missing accounting entries
* Missing reports/MIS
* Missing integrations
* Missing edge cases
* Security/audit gaps
* Loan lifecycle gaps

Every recommendation must explain why it is required, where it belongs, its priority, and whether it can affect existing products/modules.

MODULES TO AUDIT

1. Customer & CRM

Customer, co-applicant, co-borrower, guarantor, KYC, PAN, Aadhaar/DigiLocker where applicable, address, employment/business, bank details, nominee, references, duplicate detection, customer history and modification controls.

2. Product Master

Product type, loan type, interest method/rate, tenure, repayment frequency, EMI date, processing fee, GST, other charges, penal charges, bounce charges, foreclosure, part payment, rescheduling, eligibility, loan limits, LTV, branch applicability, status and effective dates.

Product configuration should control the relevant loan workflow without unintentionally changing existing running loans.

3. Loan Application

Application, product, customer, loan amount, tenure, purpose, income, expenses, liabilities, documents, banking, source, salesperson, branch, eligibility, status, rejection/rework and remarks.

4. KYC / Verification / TVR

KYC verification, document status, PAN/Aadhaar checks, name/DOB/address matching, TVR assignment, verification questions, references, residence/business verification, evidence, result, re-verification and approval.

5. Credit

Credit score/bureau, income, expenses, FOIR/DBR, existing loans, eligibility, risk grade, credit policy, deviation, approval hierarchy and credit remarks.

6. Asset Verification

Asset details, model, dealer, invoice, value, valuation, valuer, photos, verification, approval and revaluation where applicable.

7. Sanction / Agreement / Disbursement

Sanction amount, tenure, interest, EMI, fees, conditions, deviations, approver, validity, sanction letter, agreement, e-sign, document checklist, disbursement eligibility, beneficiary, bank validation, net disbursement, multiple disbursements, maker-checker and accounting.

8. EMI / Repayment Engine

Verify all supported calculation methods such as reducing balance, flat rate, daily/monthly reducing and customized schedules where applicable.

Check:

* Principal/interest
* EMI
* Tenure
* First/last EMI
* Due dates
* Holiday handling
* Grace period
* Broken-period interest
* Rounding/day-count
* Advance EMI
* Short/excess payment
* Payment allocation
* Penal interest
* Bounce charges
* Reversal/refund

Actual formulas and system calculations must be validated.

9. Rescheduling / Part Payment / Foreclosure

Check old schedule preservation, revised schedule, outstanding principal, accrued interest, charges, approval, effective date, accounting and audit trail.

For part payment check principal adjustment, EMI/tenure reduction, recalculation and new schedule.

For foreclosure check final outstanding, interest, charges, waiver, approval, payment, closure and NOC.

10. Collection / DPD / Penal Charges

Collection assignment, executive, due amount, cash/UPI/bank/payment gateway, receipts, reconciliation, PTP, bounce, short/excess collection, DPD, overdue, aging, penal charges, escalation and collection history.

Also verify scheduled/night jobs do not create duplicate DPD, interest or penal charges.

11. Accounting / GST

Review accounting mapping for disbursement, principal, interest, EMI, processing fee, GST, penal charges, bounce, foreclosure, waiver, reversal, refund, write-off and recovery.

Check journal, ledger, trial balance, P&L, balance sheet, reconciliation and GST reporting requirements.

12. Roles / Permissions / Audit

Review Sales, Branch Manager, Operations, Credit, Verification, TVR, Collection, Accounts, Finance, HR, Admin, Super Admin and Developer Admin.

Define View/Create/Edit/Approve/Reject/Export/Print/Download/Reverse/Cancel/Override/Reassign permissions.

Review maker-checker, branch restrictions, IP restrictions, sensitive data access and audit trail.

Audit trail should capture user, role, date/time, action, old value, new value, reason and approval where required.

13. Reports / MIS / Dashboards

Review requirements for disbursement, collection, outstanding, overdue, DPD, aging, EMI due/received, bounce, PTP, branch, product, sales, collection performance, foreclosure, part payment, closure/NOC, portfolio, accounting and audit reports.

14. Mobile Apps / APIs

Review Sales App, Collection App and Customer App workflows.

Review API authentication, authorization, validation, error handling, retry, idempotency, logs and integration requirements for KYC, bureau, payment gateway, bank, SMS, WhatsApp, e-sign etc.

EDGE CASES TO CHECK

Consultant must identify handling for:

* Duplicate customer
* KYC mismatch
* Short payment
* Excess payment
* Duplicate payment
* Wrong payment allocation
* Payment reversal
* Bounce
* Multiple bounce
* Disbursement reversal
* Loan cancellation
* EMI rescheduling
* Part payment
* Foreclosure
* Waiver
* Interest/rate change
* Failed API/payment/e-sign
* Accounting reversal

REQUIRED DELIVERABLES

1. Complete module-wise gap analysis
2. Stage-wise field matrix
3. Stage transition/workflow matrix
4. Role & permission matrix
5. Maker-checker matrix
6. Business rules
7. EMI/calculation validation
8. Accounting event mapping
9. Edge-case list
10. MIS/report requirements
11. API/integration requirements
12. UAT test cases
13. Final functional audit report
14. Priority-wise development recommendations

Classify requirements as:

P0 – Critical | P1 – High | P2 – Medium | P3 – Future

CANDIDATE MUST ANSWER

1. How many NBFC/Lending software projects have you worked on?
2. Have you worked on LOS and LMS?
3. Explain complete loan lifecycle.
4. How should EMI rescheduling work?
5. Should old schedules be deleted or preserved?
6. How would you design maker-checker?
7. What accounting events occur during lending?
8. How would you handle payment reversal/duplicate payment?
9. How would you calculate DPD and penal charges?
10. How would you design foreclosure and part payment?
11. What should an audit trail contain?
12. What reports are essential for lending software?
13. How do you perform gap analysis?
14. Can you prepare BRD/FRD/UAT?

SEARCH / SKILLS

NBFC, Lending, FinTech, Business Analyst, Functional Consultant, Techno-Functional Consultant, LOS, LMS, Loan Management System, Loan Origination System, Lending Domain, BRD, FRD, FSD, Gap Analysis, Workflow Design, UAT, Loan Lifecycle, EMI, Repayment, Collection Management, Credit, Sanction, Disbursement, Foreclosure, Part Payment, Rescheduling, DPD, Accounting, GST, API Integration, RBAC, Maker Checker, Audit Trail, MIS, SQL, Postman, Jira.

FINAL OBJECTIVE

The consultant must tell us:

What is already available, what is missing, what should be changed, and what should be added — without disturbing existing modules/products and their existing functionality.

The final documentation should be detailed enough for our development team to directly convert the findings into development tasks.