• Application Deadline: Wed, 10 Jan 2024 00:00:00 GMT
• Position: Loan Monitoring Officer


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 2 years


• Location Lagos


• Job Field Finance / Accounting / Audit 
  

Job Summary

• The Loan Monitoring Officer is responsible for the credit monitoring functions.


• The job holder monitors the portfolio and identifies accounts due for collection with a view to ensuring timely repayment.

Job Responsibilities

• Monitors the credit portfolio and evaluates the risk of potential default while recommending recovery solutions


• Provides daily, weekly, and monthly collection and payment schedules to customers and the marketing team while ensuring prompt and timely repayments as per schedule


• Identify and escalate repayment irregularities for further management action


• Preparation of monthly portfolio report for Management decision


• Preparation of weekly portfolio reports for credit review meetings


• Compute weekly branch-wide PAR report, including product, individual and branch-wide PAR analysis


• Evaluate product performance through collection and data analysis


• Provide weekly report on turnover on loan accounts


• Maintain an effective trigger reporting system for credit impairments and propose corrective actions.


• Provides support to the legal, recovery, marketing and compliance department on non-performing loans


• Call, visit, and send periodic reminders to loan customers on scheduled repayments.


• Conduct post-disbursement spot checks on customers to confirm loan performance and utilization.


• Monitoring defaulters' repayments to stop recurrent non-compliance


• Maintain PAR level in compliance with CBN regulations


• Follow up with account officers to reconcile payments received and real-time transaction postings


• Presentation of repayment cheques


• Responsible for achieving monthly PAR target


• Negotiate payment plans with defaulters

Job Requirements

• HND / BSc in any field


• Evidence of completion or exemption from NYSC


• A minimum of 2 years banking experience in a credit monitoring or analysis role


• Knowledge of banking operations, credit risk management, fraud management, Loan Recovery / Debt Management.

Qualifications / Skills:

• Strong leadership and people management skills


• Excellent interpersonal and communication skills


• Excellent negotiation and persuasive skills


• Administrative and managerial skills


• Excellent verbal and written communication skills


• Proficient in the use of MS Office Suite


• Excellent negotiation and persuasive skills


• Ability to multi task and handle pressure.