• Application Deadline: Fri, 20 Dec 2024 00:00:00 GMT
• Position: Head of Credit



• Job Type Full Time



• Qualification MBA/MSc/MA



• Experience 5 years



• Location Edo




• City Benin




• Job Field Finance / Accounting / Audit 
  
  

Position Overview

• The Head of Credit is a senior management role responsible for overseeing the credit operations and portfolio of the Microfinance Bank.


• This includes managing credit risk, ensuring compliance with regulatory guidelines, and driving the development and implementation of innovative credit products to meet the needs of clients.


• The role requires a results-driven professional with deep knowledge of credit processes, risk assessment, and portfolio management, alongside strong leadership and analytical skills.

Key Responsibilities

Credit Portfolio Management:

• Develop and implement policies and procedures for credit operations to ensure effective management of the bank’s loan portfolio.


• Oversee the appraisal, approval, and disbursement of loans in line with the bank’s credit risk framework.


• Monitor the performance of the credit portfolio, ensuring low non-performing loan (NPL) ratios and high recovery rates.


• Conduct periodic reviews and analyses of the credit portfolio to identify trends, risks, and opportunities for improvement.

Credit Risk Assessment and Management:

• Establish and enforce risk assessment procedures to evaluate client creditworthiness.


• Ensure credit decisions are based on sound financial and risk analyses.


• Monitor and mitigate risks associated with lending, including customer defaults and sector-specific risks.


• Collaborate with internal auditors and regulators to ensure compliance with all credit-related policies and regulations.

Product Development and Innovation:

• Design and roll out innovative credit products tailored to the financial needs of underserved communities.


• Assess the performance of existing credit products and recommend improvements or new offerings.


• Work with marketing teams to develop strategies to promote credit products effectively.

Leadership and Team Development:

• Provide strategic leadership and guidance to the credit team, ensuring alignment with the bank’s goals.


• Set performance targets for the credit team and conduct regular reviews to monitor progress.


• Mentor, train, and develop credit officers to build capacity and improve overall team performance.


• Foster a culture of accountability, excellence, and customer-centricity within the credit department.

Regulatory Compliance and Reporting:

• Ensure all credit operations comply with the Central Bank of Nigeria (CBN) guidelines and other relevant regulations.


• Prepare and submit periodic credit reports to management, auditors, and regulators as required.


• Stay informed about regulatory changes and ensure timely implementation of updates to policies and processes.

Customer Relationship Management:

• Build and maintain strong relationships with key clients to enhance customer loyalty and retention.


• Act as the primary point of escalation for resolving complex credit issues.


• Ensure exceptional customer service and satisfaction within all credit-related transactions.

Key Qualifications

• Professional certifications such as CIBN (Chartered Institute of Bankers of Nigeria) or similar qualifications are an added advantage.


• A Master’s degree in a related field (e.g., MBA) is a plus.

Experience:

• Minimum of 5 years of progressive experience in the banking or microfinance sector, with a focus on credit management.


• Demonstrated experience in loan processing, credit risk analysis, and portfolio management.


• Proven track record of maintaining low non-performing loan (NPL) ratios and achieving recovery targets.

Skills and Competencies:

• Credit Analysis Expertise: Strong ability to analyze financial statements, assess creditworthiness, and make sound lending decisions.


• Risk Management: Proficiency in identifying, assessing, and mitigating credit risks.


• Leadership Skills: Ability to lead and motivate a team to achieve departmental goals.


• Regulatory Knowledge: Comprehensive understanding of CBN regulations and other applicable credit policies.


• Customer Focus: Commitment to meeting the financial needs of customers while maintaining prudent risk practices.


• Analytical Thinking: Strong problem-solving skills and ability to interpret complex financial data.


• Communication Skills: Excellent written and verbal communication for engaging with clients, regulators, and internal stakeholders.