Job Description
Head of Credit Management
Industry: Microfinance Bank
Reports to: Managing Director/CEO
Our client, a microfinance bank is looking to fill in the position of a Head of Credit Management.
JOB PURPOSE
Reporting to the CEO, the Head of Credit provides overall leadership of the credit function to grow and maintain quality loan book to maximize return and manage risk in accordance with bank’s strategic plan, credit policy and procedures. The job holder will be the secretary to Board Credit Committee.
DUTIES AND RESPONSIBILITIES
KEY RESPONSIBILITIES
• Strategy & Leadership – Take strategic and operational ownership for the bank’s Credit function including policies, systems, and processes to achieve quality growth in accordance with the bank’s strategic plan.
• Review of process & Procedures – Regularly review and strengthen the Bank’s credit processes, including credit risk assessment and portfolio risk management and reporting.
• Portfolio performance Management – Understand portfolio performance, both quantitatively through rigorous data analysis and compared to industry benchmarks, and qualitatively through significant time in the field with our customers.
• Compliance – Ensure compliance with established/ approved credit risk policies and procedures, Bank’s Credit Policy Document, comply with Microfinance Act provisions and ensure correct classification and provisioning of the loan book in accordance with prudential guidelines and IFRS.
• Market research – Continually review Sectoral ceilings; discretionary authorities; portfolio measures; including industry limits, tenor limits, risk rating, NPLs, risk acceptance criteria, security acceptance and credit risk matrices.
KEY ACCOUNTABILITIES
Growth of quality loan book-
• Quality assessment and prudent decisions on loan applications within lending discretionary limit and/or making recommendations to higher approving authority to grow the good book whilst minimizing risk.
• Compliance with target turnaround time and the agreed Service Level Agreement (SLA).
• Provide technical support on development of new and reviewing existing credit products and credit appraisal tools.
• Automation – Implementation of automated processes to minimize manual interventions thereby increasing efficiencies in delivery of credit products at both personal and enterprise lending levels.
Team Leadership and Talent Management-
• Provide leadership for the credit team reporting to the Head of Credit in view of establishing and maintaining a high performing and motivated team.
• Provide prompt guidance, mentoring, coaching and support on aspects of credit to all credit teams across branch network.
• Identify training needs of credit teams in head office and across branch network through branch visits, spot checks and observations and implement appropriate credit up-skilling.
• Undertake performance planning, performance monitoring and performance review for the team in credit department.
Credit Administration and Portfolio Management-
• Management of the credit administration aspects of the portfolio, including ensuring that all requisite security documentations are in place prior to disbursements.
• Ensuring loan facilities contractual documents are properly executed with supporting documents and ensure conditions precedent, have been fulfilled.
• Monitor performance of loan facilities, grading, and provisioning in accordance with CBK prudential guidelines and IFRS requirements.
• Ensure generation of adequate reports for analysis of the credit portfolio including, but not limited to portfolio concentration risk and portfolio quality and provide timely and accurate information to CBK, external and internal auditors and the Compliance function as and when required.
• Ensure all income due to the bank is promptly collected and posted to the GL.
Debt Recovery Management-
• Ensure collections and recoveries are done and escalations to Managing Director/CEO for remedial discussions with the Business Development team.
• Daily monitoring of the loan book.
• Implementation of strategies aimed at improving the credit portfolio quality.
• Manage relations with collection agencies.
• Continually review Sectorial ceilings; discretionary authorities; portfolio measures; including industry limits, tenor limits, risk rating, NPLs, risk acceptance criteria, security acceptance and credit risk matrices.
Any other duties as shall be given by your immediate supervisor from time to time.
QUALIFICATIONS, EXPERIENCE AND COMPETENCIES
Minimum Qualifications:
• University degree in economics, mathematics, statistics, or a business-related field from an accredited university.
• Professional qualification in banking such as AKIB, ACIB, certified Credit management, CPA, ACCA will be a distinct advantage.
• Master’s degree in business or related field will be an added advantage.
• Minimum 12 years work experience in the credit department in a busy Banking or Financial Services sector seven of which must be in senior management.
• Knowledge of Banking Operations/ Credit Processes.
• Good credit underwriting and management skills.
• General Banking laws and practice.
• Analytical and Critical Thinker.
• Self – Drive, Flexibility, Focus and attention to detail.
• Working knowledge of business operating environment, banking, local & world economic environment.
Competencies:
• Dynamic individual with a strong desire to achieve successful results.
• Strong people management skills, interpersonal and analytical skills.
• Excellent communication skills both verbal and written.
• Strong negotiation and problem-solving skills.
• Ability to work under pressure and deliver quality results within specified timelines.
• Ability to lead and coach a team of analysts and progressively grow their competency levels.
• Proficiency in computer packages e.g., Ms Word, Ms Excel, and Ms Power point.