Job Purpose
The Credit Officer is responsible for mobilizing clients, assessing loan applications, monitoring loan utilization, ensuring timely loan recovery, and maintaining a high-quality loan portfolio. The role involves building strong relationships with clients while ensuring compliance with the institution's credit policies and procedures.
Key Duties and Responsibilities
1. Client Mobilization and Business Development
Identify and recruit potential borrowers within the assigned area.
Promote the institution's financial products and services.
Conduct community sensitization and financial literacy activities.
Build and maintain strong relationships with existing and prospective clients.
Achieve monthly and annual client acquisition targets.
2. Loan Appraisal and Processing
Receive and review loan applications from clients.
Conduct field visits to verify client information and assess repayment capacity.
Analyze clients' businesses, income sources, and cash flows.
Evaluate collateral and guarantor information.
Prepare loan appraisal reports and recommendations for approval.
Ensure all loan documentation is complete and accurate before disbursement.
3. Loan Monitoring and Portfolio Management
Monitor loan utilization to ensure funds are used for approved purposes.
Conduct regular follow-up visits to clients.
Maintain accurate and up-to-date client records.
Identify early warning signs of default and take corrective action.
Ensure portfolio quality meets institutional standards.
4. Loan Recovery and Collections
Follow up on overdue loan repayments.
Develop and implement recovery plans for delinquent accounts.
Negotiate repayment arrangements with defaulting clients.
Prepare and submit arrears and recovery reports.
Work closely with management to minimize portfolio-at-risk (PAR).
5. Compliance and Risk Management
Ensure compliance with credit policies, procedures, and regulatory requirements.
Adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) guidelines.
Identify, assess, and report credit risks.
Safeguard client information and maintain confidentiality.
6. Reporting
Prepare daily, weekly, and monthly performance reports.
Submit loan portfolio, recovery, and client activity reports as required.
Maintain accurate records in the Management Information System (MIS).
Plussave financial solutions