Credit Officer at Choice Microfinance Bank

Job Purpose

Analyzing and approving of credit facilities to mitigate on credit risk by ensuring compliance to laid down bank lending policies and procedures.

Responsibilities for the Credit Officer Job

Business Growth

• Mapping and scoping the business opportunity within the branch environs, including profiling the business activities within the locality of the branch to identify potential business opportunities.
• Growing and managing the loan portfolio by marketing, identifying of potential members and recruitment of new members.
• Gathering the relevant information about clients and their businesses to ensure that informed decisions are made regarding the creditworthiness and probability of repayment by the customer.
• Building Business relations In order to grow the deposit portfolio.
• Providing guidance to prospective loan applicants to enable them determine the most appropriate type of loan as well as explaining the specific requirements and conditions associated with the loan.
• Attending all group meetings as well as individual projects and businesses in order to ensure on time loan repayments resulting to a very healthy loan portfolio.

Analysis of Credit Proposals

• Carrying out loan appraisals / business screening for members through visiting individual businesses, projects, client households, and group meetings, leading to the growth and sustainability of the loan portfolio.
• Analyze credit data and financial statements to determine the degree of risk involved in extending credit or lending money to SME, Micro and Consumer Banking customers.
• Analyze financial data such as income growth, quality of management, and market share to determine expected profitability of loans.
• Compare liquidity, profitability, and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations.
• Generate financial ratios, using computer programs, to evaluate customers’ financial status.
• Evaluate customer records and recommend payment plans based on earnings, savings data, payment history, and business activity and cycles
• Consult with the respective Business Development Executive to verify financial and credit transactions and resolve any customer complaints .
• Perform all the necessary customer due diligence.
• Prepare reports that include the degree of risk involved in extending credit/lending.
• Confer with credit reference bureau and other business representatives to exchange credit information.

Presentation to Branch Credit Committee

• Complete loan applications, including credit analyses and summaries for all Choice Microfinance Bank products.
• Present the loan requests to the Branch Credit Committee for approval within the Bank’s Credit Policy.

Post-Approval Activities

• Maintain a diary system to ensure that all post covenant sanctions are adhered to.
• Post sanction monitoring through Daily Portfolio review.
• Daily tracking of loan repayments and follow up of any skipped payments to ensure PAR is maintained at the targeted levels.
• Review individual or business customer files to identify and select delinquent accounts for collection.
• Following up all loans issued to ensure they are paid on time through ongoing monitoring and supervision of members, groups, and projects.

Teamwork/Other

• Embrace a culture of teamwork, support for each other and commitment to the branch and the Bank goals and aspirations.
  Apply gained knowledge, skill or technique to current work and share successes with other team members.
  Any other credit related duty as may be assigned by the management.

Qualifications for the Credit Officer Job

• Must be a holder Bachelor’s degree in Commerce/Finance, Business, Banking and Finance or related fields.
• Professional qualifications such as Diploma in Cooperative Management, Diploma in Credit Management,
• Banking or CPA’s will be an added advantage.
• Practical experiences in use of MS Office especially excel applications and credit analysis tools.

Competencies

• Understand and implement credit processes.
• Demonstrate a high degree of sensitivity, confidentiality and integrity when dealing with internal and external customers.
• Job skills: Understand the Banking Act and Central Bank of Kenya (CBK) clearing procedures and prudential guidelines; high levels of professionalism and professional development.
• Management and leadership ability: Have excellent interpersonal, organizing and people management skills.
• Excellent communication skills, with outstanding reporting and analytical skills.
• Effective organizational skills and ability to handle work in an efficient and timely manner.
• Good analytical ability.
• Computer skills: Must be adept in use of Ms Word, Excel, Access, powerpoint, Internet and email.