Senior Credit Officer – Insurance Premium Financing at Jubilee Insurance

Job Ref. No: JAML004

Role Purpose

The Senior Credit Officer - Insurance Premium Financing is responsible for managing the credit risk of the company's insurance premium financing portfolio. The role involves analyzing creditworthiness, assessing risk, and recommending credit decisions to the management. The Senior Credit Officer will play a critical role in developing and ensuring that the company's credit policies and procedures are adhered to, and that the loan portfolio is managed within acceptable risk parameters

Main duties and responsibilities:

• Loan processing:The Senior Credit Officer will be responsible for managing the entire loan processing cycle, from receiving loan applications to disbursement of funds. They will be required to ensure that all loan processing documents are in order and are filed and stored correctly. They will also be responsible for conducting credit checks on potential borrowers to determine their creditworthiness.
• Credit risk management: The Senior Credit Officer will be responsible for assessing the credit risk of the company's insurance premium financing portfolio. They will need to have a strong understanding of the market and industry trends to make informed decisions on which loan applications to approve or reject. They will also be required to make recommendations to the management on how to adjust the portfolio to reduce risk and maximize returns.
• Loan collection and default management:The Senior Credit Officer will need to have a strong understanding of loan collection processes and be able to manage defaulting accounts effectively. They will be required to liaise with the insurer on account termination for non-performing accounts and maintain up-to-date records of the loan book.
• Reporting:The Senior Credit Officer will be responsible for ensuring that frequent and timely formal and informal reporting is carried out. They will need to compile reports on the loan portfolio's performance, including the number of loans approved, the average loan size, and the rate of default.
• Compliance:The Senior Credit Officer will need to ensure that the lending policies and guidelines are adhered They will need to have a good understanding of the laws and regulations governing the financial services industry and ensure that the company's policies and procedures are in compliance.
• Staff training: The Senior Credit Officer will be required to develop and update lending manuals and ensure that staff members are trained on the same. They will need to have strong leadership and mentoring skills to help the team develop their credit processing skills.
• Customer service: The Senior Credit Officer will need to ensure that borrowers and other stakeholders involved in the loan process receive accurate information about loan terms and conditions. They will need to have excellent communication and stakeholder management skills to maintain positive relationships with clients and other stakeholders.

Key Competencies

• Visionary & Commitment
• High Integrity
• Team Spirit
• Customer Focus
• Continuous Innovation
• Ability to understand economic and financial trends is a requirement.
• Good communication skills.
• Good stakeholder management skills.
• A high level of attention to detail
• Ability to work under pressure.

Qualifications

• A Bachelor's degree in a relevant field such as accounting, finance, banking, business, or economics.
• A Master's degree in a relevant field is preferred but not always required.
• Professional certifications such as Chartered Financial Analyst (CFA), Certified Public Accountant (CPA), or similar relevant certifications would be an added advantage.

Relevant Experience

• At least 3 – 5 years’ experience in busy environment preferably within the financial services industry
• Have the personal qualities to develop strong stakeholder relationships.
• Demonstrate ‘best in class’ knowledge of all credit processes.