Credit Manager at Co-operative Bank of Kenya

Main Job Purpose

The Credit and Loans Manager’s main purpose in the Sacco is to manage the credit granting process, including assessing the creditworthiness of potential customers and reviewing existing customers’ credit. They also ensure that loan policies and guidelines are followed. Reporting to the General Manager Finance and Banking, the job holder will be responsible for managing the society’s loan portfolio leading to growth of the Society’s loan portfolio while ensuring quality and health of the loan book is maintained.

Key Responsibilities

Strategy

• Putting in place and implementing effective credit management, monitoring, collection and recovery strategies.
• Implementing the Sacco Society’s strategies relating to credit management within the set timelines
• Perform appraisal of loans and work out members’ entitlement and amount granted.
• Approve loans within the limit and facilitate further approval by the Divisional Head and or CEO/Credit Committee for loans above the limit
• Ensure disbursement of approved loans in liaison with the Finance Department to members according to the Sacco Society’s policy and customer charter and recommend all loans for approval;
• Preparing and presenting credit reports including, disbursements, loans aging reports and strategic reports
• Being a front facing manager, you will ensure high levels of service delivery and efficient resolution of matters relating to members;
• Preparing, analysing and submitting regular reports in relation to loan applications, disbursements, repayments, overdue accounts, recovery plans and risk exposures.

Recovery and Risk Management

• Continually monitoring collection of outstanding institution remittances, ensuring timely remittance of member contributions to the society and reporting:
• Evaluating the loans portfolio with an aim of identifying risk areas and recommending mitigation measures
• Identifying, assessing, and evaluating risk areas in recovery and making appropriate recommendations.
• Continually monitoring the loans portfolio to ensure a portfolio at risk of 5% and below;
• Undertake periodic review of securities and collaterals held against all non-performing facilities in order to ensure these are perfected and that no dilution happens during the debt recovery period.
• Ensure that all securities/collaterals are perfected, charged, recorded and maintained under lock and key.
• Ensure the recovery of outstanding amount and ensuring the process of realization of securities is handled procedurally in order to avoid delays caused by intermittent litigation while at the same time to ensure that the defaulting client’s rights are respected in order to avoid potential risk exposure to the Sacco Society brought about by adverse publicity through litigation.
• Plan and coordinate the debt recovery process with various service providers (Lawyers, Valuers and Auctioneers) in order to avoid undue delay and recovery costs escalation.

Operations

• Daily supervision of the operations of the credit department.
• Maintain and update accurate CRB listing of all loans.
• Implement data clean-up procedures and corresponding changes when necessary and as appropriate to ensure correct and up to date credit data at individual and corporate level is maintained.

Product Development

• As a member of the products research and development team, propose new products that meet member’s needs or review current ones.
• In liaison with the Business Development, Research and marketing departments, develop and review the loan products periodically.

Human Resource

• Achieve established departmental goals within defined timelines, as well as define and implement a measurement of acceptable staff performance in order to safeguard the Sacco’s loan portfolio
• Maintain a departmental organizational structure sufficient to meet all goals and objectives.
• Supervise all the employees in the credit department including establishing departmental goals, conducting timely performance reviews and training
• Manage the daily operations of the credit department in an efficient and effective manner.
• Conduct various assessments and audits to ensure departmental procedures are achieving accurate and desired results.
• Reviewing capacity needs, supervising and initiating training needs for the personnel in the credit department on credit products and processes.
• Setting and evaluating performance of credit staff across the Sacco.

Job Specifications – Academic and Experience

• Bachelor’s degree in Finance, Economics, Accounting, Banking, Credit management or similar qualifications from an accredited university recognized in Kenya.
• Professional qualifications in Credit Management (Certified Credit Professional) or a Diploma in cooperative management is an added advantage.
• Membership in good standing of a relevant professional body e.g., ICPAK, ACCA, ICPSK or KIM.
• Minimum of Eight (8) years’ relevant experience in credit administration or loan management at the management level in a financial institution preferably a cooperative society five (5) of which must be in management position.
• Demonstrated computer literacy with experience in MS Excel, PowerPoint, Word and Dynamics Nav.

Skills

• Demonstrated integrity, ethical standards, and be able to maintain confidentiality
• Is self-driven, focused and innovative;
• Ability to be flexible, use initiative, self-evaluate and to work independently under little or no supervision.
• Team player who works productively with wide range of people and a critical thinker
• Strong analytical skills, problem solving, negotiation and interpersonal skills,
• Focused, self-driven and attentive to detail.
• Effective listening, verbal and written communication skills.
• Judgment and decision-making ability.
• Accuracy and attention to detail.
• Able to handle difficult customers with diplomacy and tact.
• Manages time effectively and adapts quickly to changing priorities.