• Application Deadline: Wed, 31 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 to ensure timely repayment.

Duties & Responsibilities

• Monitor the credit portfolio and evaluate potential default risk while recommending recovery solutions.


• Provide daily, weekly, and monthly collection and repayment schedules to customers and the sales team while ensuring prompt and timely repayments as per schedule.


• Identify and escalate repayment irregularities for further management action.


• Prepare monthly portfolio reports for Management decisions.


• Prepare weekly portfolio reports for credit review meetings.


• Compute weekly company-wide PAR reports, including product, individual, and branch-wide PAR analysis.


• 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.


• Monitor defaulters' repayments to stop recurrent non-compliance.


• Maintain PAR level in compliance with regulations.


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


• Evaluate product performance through collection and data analysis.


• Provide weekly report on turnover in loan accounts.


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


• Provide support to the Recovery, Sales, and Internal Audit departments on non-performing loans.


• Presentation of repayment cheques


• Negotiate payment plans with defaulters

Qualifications

• HND / B.Sc in any field.

Experience:

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


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

Behavioural Skills:

• Strong leadership and people management skills


• Excellent interpersonal and communication skills


• Excellent verbal and written communication skills


• Proficient in the use of MS Office Suite


• Excellent negotiation and persuasive skills


• Excellent negotiation and persuasive skills


• Administrative and managerial skills


• Ability to multi-task and handle pressure.