Credit Officer

The Credit Officer is accountable to the Credit Union for the effective and efficient loan application due diligence and adjudication in order that NCCCU achieves its Mission, Vision and Major Targets in a sustainable manner.

JOB SPECIFICATION & DESCRIPTION

Job Title:  Credit Officer I                         

Department:  Credit

Overall Accountability:

The Credit Officer is accountable to the Credit Union for the effective and efficient loan application due diligence and adjudication in order that NCCCU achieves its Mission, Vision and Major Targets in a sustainable manner.

Accountability Relationships:

1. Accountable to:       Credit Manager
2. Accountable For:     3 Supervisee                  

Authority:

1. Authorize transactions and sign cheques within approved limit

Performance Criteria:

1. A high degree of efficiency and accuracy
2. A minimum of five (5) loan applications are processed daily
3. Service delivery is of a consistently high standard and enhances growth in membership
4. Attendance and punctuality records are consistently good.
5. Confidentiality on the job is preserved.

Duties

1. Conduct interviews for loans and assist with the completion of loan application forms
2. Analyze loan securities to ensure suitability prior to approval
3. Approve loans that fall within the terms and conditions of the Loan Policy
4. Prepare loan applications for submission to the Manager and/or Credit Committee.
5. Ensure that applications for loans to be considered by the Credit Committee are submitted on time.  Attend Credit Committee meetings to provide the Committee Members with the information if required.
6. Upload loan applications for Approval by Credit Committee and/or Board on SignNow.
7. Inspect items offered as security and carry out valuation and physical inspection from time to time.
8. Complete security documentation for loans secured by Motor Vehicle.
9. Check and upload transactions to members account through E-Link

10. Audit Daily New Loan Report to ensure that loans are accurately opened

11. Assist with the preparation of commitment letters during the Back-to-School Loans Promotion peak period

12. Regularly monitor loan portfolios to ensure accounts are performing as expected.

13. Assist in portfolio diversification and ensuring the credit union’s credit risk remains within acceptable limits.

14. Assist with departmental projects aimed at improving lending practices and operational efficiency.

15. Prepare regular reports for submission to Manager, Credit Committee, Regulators and/or Board of Management.

16. Inform member of disbursement of loan.

17. Assist members with loan enquiries and other related services/requests.

18. Provide relief for the Credit Manager when required.

19. Assist with loan product proposal

20. Attend Annual General and other meetings from time to time.

21. Perform any other duty that may be assigned by Supervisor/Management.

22. Update Application Register daily and measure turn-around-time for processing loan.

Minimum Educational Requirements:

Qualifications:

• BSc. in Management Studies, Accounting, Finance, Banking or related discipline from a tertiary institution
  • OR
• Minimum - Diploma in Management Studies (Accounting) with five years’ experience in a related field
• Minimum two (2) years working experience preferably in a Credit Union or other financial institution
• Knowledge of loan interviewing techniques
• Knowledge of loan securities documentation and related procedural requirements
• Knowledge of Mortgage systems and the policies and criteria relating to housing projects, e.g., the Sites and Services programme.
• Knowledge of the relevant computer spreadsheet applications
• Knowledge of Financial Counseling
• Knowledge of analyzing credit reports, financial statements, and other documentation to assess risk.
• Basic knowledge of computer
• Sound analytical skills.
• Good interpersonal skills
• Good organizational and time management skills
• Ability to communicate effectively both orally and in writing
• Ability to scrutinize loan applications thoroughly to ensure accuracy and compliance.
• Familiarity with lending regulations, fair lending practices, and industry compliance standards.
• Maturity and integrity
• Confidentiality
• Courtesy
• Ability to inspire confidence of others, command respect of others and to respect the dignity of others
• Leadership skills
• Willingness to accept responsibility
• Ability to take charge
• Professionalism
• Well-groomed appearance
• Self-confidence
• Planning and Organizing skills
• Occasionally required to work late or on weekends during peak periods.

Experience:

Specific Knowledge (however acquired) Required to Start:

Required Skills and Specialized Techniques

Desired Attitudes/Personal Traits

Special Conditions Associated with the Job.

Validation

This document is a true and accurate description of the position.