• Application Deadline: Wed, 27 Mar 2024 00:00:00 GMT
• Position: Credit Officer


• Job Type Full Time


• Qualification BA/BSc/HND


• Experience 3 - 5 years


• Location Lagos


• Job Field Finance / Accounting / Audit 
  

Job Summary:

The Credit Officer is responsible for analyzing new credit requests, the administration and implementation of the loan recovery process.

Responsibilities:

• Review incoming requests to evaluate eligibility, creditworthiness and other risk-mitigating criteria.


• Critically analyze standard and advanced risk matrix to arrive at the final loan decision.


• Ensure all transactions have full and proper documentation.


• Monitor, mitigate report and minimize credit limit excesses, business risks, provisioning, and provide periodic Credit Portfolio Reports daily, weekly, monthly, quarterly, and annually


• Negotiate payoff deadlines or payment plans.


• Update account status and database regularly.


• Prepare contingency plan to prevent and cope with credit risk to ensure a healthy portfolio.


• Work closely with other departmental members to identify current and potential credit risks and develop suitable mitigation/prevention strategies.


• Work closely with the Credit and Legal team to ensure synergy and all-time customer satisfaction while ensuring debts are being recovered and paid up.


• Operate in compliance with laws and regulations.


• Minimizing customer response times by issuing reminder notices and customer statements and monitoring collection of loan in a timely manner.


• Establish repayment schedules, monitoring repayment of loan, and adherence by debtors to installment schedules.


• Calculating and analyzing the risk ratios of clients based on their credit score and financial history.


• Approving or denying loan requests and communicating your decision to both clients and management.


• Setting up payment plans for clients explaining monthly installment amounts, interest rates, and other costs.


• Maintaining records of loan applications.


• Managing loan renewals by organizing follow-up meetings with clients.


• Monitoring the progress of the loan application process and relaying any hindrances to clients.


• Ensuring that loan applications are in line with the company's financial policies, as well as state laws and regulations

Requirements

• First Degree in Accounting, Banking & Finance, Economics, Statistics and other related field.


• 3 - 5 years’ experience in credit in a financial sector.


• Strong planning and organizational skills.


• Good time management.


• Strong communication skills (both written and oral) and excellent telephone etiquette.


• Proactive and ability to take initiative.


• Ability to work within a team as well as independently.