Head of Credit
Jobs at:Corporate Staffing
Deadline of this Job:
03 October 2022
Date Posted: Monday, September 19, 2022 , Base Salary: Not Disclosed
Key Responsibilities and Accountabilities
• To formulate credit policies and procedures and ensure they are implemented, reviewed, and complied to.
• Manage the credit function of the microfinance bank efficiently and effectively to ensure profitability and risk mitigation
• Facilitate development and advise on pricing of credit products through the evaluation of customer needs and activities in liaison with other departments.
• Risk management through monitoring and administration of credit performance using credit scoring, appraisal reports and monitoring of customers’ credit rating with credit reference agencies.
• Develop and maintain business relationships with key customers and stakeholders to create business opportunities.
• Responsible for ensuring a strong portfolio quality and control of the credit book by providing support to the branches on credit matters.
• Responsible for credit administration by setting terms of credit and ensure timely repayment by customers.
• Negotiate repayment plans and discontinue credit to late-paying business customers
• Initiate legal action to recover debts if necessary, meeting other creditors, arranging for goods to be recovered, and organizing for liquidation of a defaulter’s assets to offset outstanding debt.
• Ensure all income is collected as per the approved terms
• Ensure Disbursements are done as per approval terms
• Generate management reports as well as periodic returns to CBK and CRB
• Track credit facilities for all newly approved credit relationships within agreed terms of lending and time frames
• Provide oversight on the normal and watch accounts and liaise with branch managers to ensure remedial action are taken promptly
• Provide leadership in performance management, employee development, talent management and building a work environment that drives high performance and employee satisfaction through coaching and mentorship.
• Develop, implement, and monitor the bank’s overall credit strategy
• Continuous review of the credit policies and processes to ensure they remain robust and responsive to the customer’s dynamic business needs
• Manage the credit team to enhance productivity, effectiveness
• Oversee overall management of the credit processes within the bank policies and guidelines to minimize lending risks.
• Champion and embed culture of compliance to procedures and best credit practices
• Develop, manage, and monitor budget for the function
• Identification and mitigation of credit exposures through external environment risk assessment as per the prudential guidelines
• Responsible for preparation and presentation of the credit board committee monthly reports and loan requests.
• Responsible for successful induction training of the newly recruited staff in the bank
• Preparation and review of MOUs for institutional business
• Ensure automation and review of loan appraisal processes
• Responsible for security documentation and management to ensure all collateral are safely stored for use of tracking and safety
• To perform any other duty as assigned, in line with the organization goals and objectives
Minimum Qualifications and Experience
• University Degree in Business related field.
• MBA in strategic management or finance
• CPA (K) (AA)
• Proficiency in computer use including MS Office tools and banking systems.
• At least 6 years banking experience in credit department 3 of which MUST be in a Managerial role.
• Strong presentation and communication skills.
• Proven ability to analyze and appraise loans of all types
• Possess strong analytical and interpersonal skills
• Can make prompt decisions and be independent in problem solving
• Proven leadership skills
• Knowledge of the industry’s best practice.
Job Experience: No Requirements
Work Hours: 8
Level of Education: Bachelor Degree
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