• Application Deadline: Sun, 10 Mar 2024 00:00:00 GMT
• Position: Credit and Risk Control Officer


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 1 - 4 years


• Location Lagos


• Job Field Finance / Accounting / Audit 
  

Job Summary

• Responsible for assessing credit applications and adhering to company payment policies. Coordinates debts of existing creditors and manages new requests for credit.


• Follows established protocols for debt recovery. Works with the credit control/risk supervisor to mitigate risk in transactions and processes across the organization. Ensures adequacy of insurance coverage for potential losses.

Job Functions

Credit Control:

• Follows up on overdue invoices and payments and implements company collections procedures as necessary.


• Resolves customer queries and issues and resolves issues regarding incorrect payment.


• Reviews credit applications and references.


• Carries out thorough credit checks for new customers to ensure eligibility for credit


• Facilitates credit verification process to ensure creditworthiness.


• Reconciles payments received with sales made.


• Prepares periodic reports on credit status.


• Assists credit control/risk supervisor in monitoring projects.


• Prepares journal entries and files documents and invoices.


• Reports payment issues to credit control/risk supervisor.


• Maintains loan records, conducts regular analysis of the credit-control system, and implements changes as needed to reduce bad debts.


• Keeps detailed records of collection activities and conversations


• Works closely with the credit control/risk supervisor to identify and analyze areas of potential risks threatening earning capacity and success of operations.


• Performs other duties as assigned

Risk Management:

• Identifies potential risks that could have negative impact on the organization’s operations or financial standing.


• Carries out analysis to assess potential risk with the supervision of the risk supervisor.


• Ensures insurance plan adequately covers risks and potential losses.


• Recommends new insurance coverage or adjustments to existing coverage to meet changing requirements.


• Ensures all necessary insurance coverage is in place for possible risks or exposures that could lead to a loss.


• Evaluates effectiveness of risk management programs and recommends changes as necessary.


• Calculates insurance premiums based on risk exposure.


• Performs other duties as assigned.

Requirements

Education:

• Bachelor's Degree in Risk Management, Finance, or Accounting from a reputable and accredited institution.

Experience:

• 1 - 4 years experience as a Credit Control/Risk Officer.

Knowledge Requirement:

• Proficient in the use of Microsoft Office tools.


• Good understanding of legal complexities of loans, payment plans and interest rates


• Strong knowledge of credit risk management.


• Thorough knowledge of risk mitigation initiatives and strategies.


• Working knowledge of credit law.