India Mortgage Guarantee Corporation Appoints Kanika Singh as Chief Risk Officer

Mumbai, Aug 21 India Mortgage Guarantee Corporation (IMGC), India’s first Mortgage Guarantee Company, today announced the appointment of Kanika Singh as Chief Risk Officer.

She brings over twenty-seven years of multi-faceted experience in risk management practices, asset operations, risk analytics, and quality assurance across multiple banks and functions spanning Credit Risk Management, Compliance & Control, Credit Operations, MIS & Analytics, Regulatory Reporting and Training & Development.

She was previously working with Citi Bank as Portfolio Risk Head responsible for their secured lending business and recently transitioned to Axis Bank Limited as part of the integration post-Citibank’s consumer bank divestiture and acquisition by Axis. She has played a significant role in integrating business from a risk standpoint for Citibank and has been involved in multiple discussions with the senior leadership at Axis Bank. Her career path includes companies such as Axis Bank Ltd., Citibank, ABN AMRO Bank and HSBC.

As CRO, Singh will lead IMGC's risk management function. She will work closely with the MD and other senior leaders to develop and implement risk management strategies that support the company's growth and its mission to empower the housing finance ecosystem and promote early homeownership in India.

Speaking on the development, Mr. Mahesh Misra, CEO, IMGC said," We are delighted to have Kanika as part of our leadership team. She is an experienced leader with a proven track record in risk management. This is an exciting phase in our strong growth journey, and we will benefit immensely from Kanika’s expertise as we seek to maintain risk discipline.

IMGC has achieved significant success since its inception in 2012 which reflects in its existing book size, growth, and partnerships with lenders. The firm IMGC has surpassed Rs 20,000 crores (200 billion Indian rupees) in home loan guarantees for over 100,000 customers across more than 400 locations nationwide. The firm has collaborated with 23 lending institutions, including banks, housing finance companies (HFCs), and non-banking financial companies (NBFCs).

Adding to this, Kanika Singh, CRO said, “I am excited to be a part of a promising organization and spearhead risk strategy for IMGC. I look forward to partnering with stakeholders to build new products, that will make a huge impact and play an important role in promoting early homeownership”