Job Title: Credit Operations Officer
Hiring Organization: Old
Mutual
Location – Locality: Nairobi
Location – Region: Kenya
Industry: Microfinance
Job Type: Full
Time
Salary: KES
Competitive
Date Posted: 03/18/2024
Old Mutual Kenya is based in Nairobi and is part of a larger group
that offers solutions in long-term savings, asset management and investment. We
offer solutions to individuals and corporates underpinned by our core values
which are: Respect, Integrity, Accountability and Pushing beyond boundaries.
Job
Description
To ensure compliance with internal credit operations policies and
procedures, best practices and CBK prudential guidelines to facilitate
management of credit risks within tolerable levels.
Originates all credit facilities disbursements for all segments and syndicated
loans while ensuring absolute data integrity when capturing the credit
facilities in the company’s core banking system.
The role handles all credit disbursement and repayment for all products sectors in the company by following the laid down procedures and completeness off all credit documentation so as to safeguard the institution.
The holder also handles Group Cover Insurance Fund (GCIF) related
duties including placement of first-time loan covers, GCIF renewal for existing
loans, and refund for unutilized GCIF premium.
To prepare and submit Credit Operations reports within agreed timelines.
Key
Measurable Goals
Compliance
reviews.
Loan Disbursements
Portfolio
Monitoring & Revenue Assurance.
Credit
facilities Documentation.
Credit
Operations Reporting.
GCIF
reconciliation
Key
responsibilities
Compliance reviews
Detailed
checks on physical approved loan applications before disbursements.
System
check of Cash collateral loans to ensure the collateral exists before the loans
is disbursed
Continuous
review of system modules related to loans to ensure proper functionalities.
Review of
loan limits and other product fact sheet provisions to ensure proper set.
Loan Disbursement
Processes
all approved credit facilities in all sectors within the business.
Ensures
accuracy in data capture in the system to ensure that the reports being
generated are of quality.
Generates
all system entries in regards to capturing of Overdraft facilities and System
review of MOUs to ensure they are properly configured as per the approved
documentations.
Review of
loan limits and other product fact sheet provisions to ensure proper set.
Monitor
and ensures that there are un-authorized transactions within the system.
Analyze
and review loans related issues and seeks waiver and adjustment
Ensures
to process all loan repayment general ledgers as per the provided files.
Monitor
and review problematic loan contracts and recommend a solution.
Process Reviews & Controls Monitoring
Monitor
and review adequacy of internal controls (e.g. documentation requirements,
approvals limits and thresholds,
Continuously
review Credit operations processes to ensure efficiency(e.g.loan)
Portfolio Monitoring & Revenue Assurance
Revenue
assurance tests to ensure loan set up fees, GCIF and chattels mortgage are Duly
collected as per the provided documentations.
Recomputation
of loan schedules for testing accuracy
Ensures
that all interest waiver amount debited from PL account are credited back as
expected when processing top up or buy off cases.
Ensures
that the clients are charged the rightful interest amount when processing top
ups and buy off loans.
Review of
interest rates, repayment frequencies, days of arrears, and other loan fields.
Review
list of recovered loans and ensure recovered amount as per right off cases are
posted to the correct accounts.
Ensures
to countercheck on the refund documentation provided from the branches before
the same is posted into the system to minimize on risk of overfunding the
company’s funds.
Documentation
Ensures
that all documentation in regard to loan processing are filled as per the
required processes to as to easen retrial purposes once the physical
application is required.
Maintains
a proper filling systems for all refund and posting documentation provided.
Credit Operations Reporting
To
prepare for review the various Credit Operations Reports within the agreed
timelines.
(Reports
include but not limited to; Daily Disbursement reports, Branch performance
trend, Cash Collateral Loans Report, Branch disbursement Ranking Report,
Disbursement per segment report.)
GCIF Reconciliation.
Review of
new loans booked within the month and have the GCIF covers placed.
Have the
covers for existing loans renewed at anniversary.
rocess
refunds of unutilized premium for paid off loans.
AML KYC & CFT Responsibilities
Monitor,
on a continuous basis, all transactions to ensure that unusual and suspicious
transactions are reported to the Money Laundering Reporting Officer (MLRO)
Implementing
and enforcing the board approved AML, KYC & CFT policy in as far as is
applicable within my area of responsibility
Education
Degree in
Business
ICT &
Banking Operations
Desirable
Degree
& Credit Certifications and Operations
Knowledge
and Skills
Analytical
skills
Financial
Management and accountancy
Reporting
writing skills
Proficiency
in T24 skills with practical experience in Lending
Excellent
Computer packages knowledge
Working
knowledge of Emerge T24
Report
writing abilities
Experience
At least
2 years’ experience in Credit operations and GCIF reconciliation in a financial
institution
Practical
experience in Credit Operations lending and Group Cover Insurance Fund (GCIF)
reconciliation.
Personal
Attributes
Assertive
with excellent interpersonal skills
Honest
and high degree of confidentiality
Analytical
mind with vast knowledgeable on the Financial services sector
Assertive
Speed and
accuracy highly valued
Highly
organized, Creative and Innovative
Proactive
and fast decision maker
