MYLOAN LIMITED is recruiting to fill the position below:
Title: Credit Officer
Industry: Microfinance
Company: Myloan Limited
Location: Berea
Myloan Limited is a fully licensed Microfinance institution by the Central Bank of Lesotho (CBL). Our goal is to provide access to short term unsecured and secured loans, which is easily accessible. We cater to the demography currently underserved by the commercial banks with our aim to help increase the financial inclusion in Lesotho.
Description:
Credit Officers examine if a potential borrower qualifies for a loan. A good part of their jobs is evaluating the potential risks of granting loans to applicants. A Credit Officer must be able to analyze complex data, including financial records and statistical information, regarding the applicant’s capacity to make a full repayment of the credit in question. They oversee determining the interest rates of a credit and the expected time for payment.
Primary Responsibilities:
• Supporting new and current clients on loan and credit products.
• Setting up meetings with clients to obtain information on their loan needs.
• Meeting and interviewing credit applicants to determine risk factors.
• Determining the most suitable loan option.
• Providing guidance on the lending process.
• Assisting the Manager, before the loan’s approval or rejection, by ensuring the client meets the requirements to obtain a loan.
• Collecting information and processing each file to the closing stage.
• Contacting other financial institutions to verify the financial background of loan applicants.
• Examining applicants’ assets and finances.
• Analysing the applicants’ capability to repay loans by conducting a thorough assessment on creditworthiness.
• Submitting a detailed report regarding any abnormality on the processed file.
• Ensuring the repayment of approved loans and credits.
• Ensuring that all related paperwork follows regulations and standards.
• Calculating payment schedules.
• Monitoring clients to guarantee their timely payment.
• Maintaining detailed records on the transactions executed daily.
• Organizing all paperwork and updating database systems.
• Keeping a thorough daily record of every activity and incidence held at the institution.
• Processing, reviewing, and completing loan and credit requests.
• Verifying the documentation contained in each application.
• Submitting the application to the manager for the credit or loan’s approval or rejection.
• Contributing to on-going professional business development activities.
• Cooperating with the company’s endeavor of achieving a gross revenue and net operating income objectives.
• Working alongside colleagues to gather marketing information, statistics, and trends and building and maintaining an important customer base.
• Drafting all administrative paperwork including reminders, warnings, and updates to inform customers on relevant financial matters on theirs accounts and their status.
• Ensuring compliance with all internal control and established policies related to loan products to guarantee transparency in every application processed.
Required Skills and Qualifications
Interpersonal and communication skills:
• Communicating clearly, both in writing and verbally, to effectively advise and interact with clients.
• Acting with transparency, keeping customers informed about the status of their request.
• Displaying strong customer service skills, as well as great listening skills, to fully understand clients’ requirements and to offer the most suitable loan option.
• Establishing and maintaining supportive work relationships.
• Being able to deal with team members and customers in potentially adversarial situations using a calm, tactful, discreet, and effective approach.
Organizational and time management skills:
• Prioritizing and planning work activities to manage time efficiently while handling a high volume of work.
• Multitasking; being able to work in a dynamic, fast-paced environment.
Analytical, problem-solving, and decision-making skills:
• Effectively analysing numerical data, drawing logical inferences, and providing reasonable recommendations.
• Identifying issues and resolving problems in a timely manner.
• Being able to exercise strategically thinking and mature judgment.
Outstanding attention to detail and high levels of thoroughness:
• Ensuring compliance with internal standards.
• Conducting thorough research and financial background checks.
• Staying focused during highly repetitive tasks.
Administrative skills:
• Being proficient in Microsoft Office Word, spread sheets, including the ability to develop and use formulas, and to manage finances and accounting platforms.
• Being able to create graphics, flow charts, and projections to generate statistics.
Goal-oriented, reliable, flexible, and confident:
• Being self-motivated, highly driven, and having an entrepreneurial personality.
• Being able to work independently.
High levels of honesty, discretion, and integrity:
• Being trustworthy enough to handle sensitive/confidential information.
Credit Officers are responsible for advising clients on the most suitable loan or credit option, attending their financial goals and needs; hence, they are required to have a vast knowledge on financial and microfinance loan products. Having completed a bachelor’s degree in Accounting, Finance, General Accounting, or to have obtained any other equivalent certification is the most common requirement for this position.
Since they stand as the point of contact between the financial institution and the loan or credit applicant, customer service skills are a definite asset. To successfully perform their duties, Credit Officers are also required to be familiar with policies, procedures, security requirements, and institutional and governmental regulations.
A minimum of 1 years of experience working in a client-facing, accounting, or relationship-focused role. Having a basic knowledge of the sector is an advantage.
Application closing date: 21 January 2022
How to apply: Interested and qualified candidates should send their CV to [email protected] or [email protected]