Job Opportunities in Nigeria
September 12, 2024
In-Charge Solutions Limited
Owerri
FULL TIME
Credit Risk/Compliance Officer
We are seeking a Credit Risk/Compliance Officer to lead and manage the credit risk and compliance function at our microfinance bank. The role involves ensuring regulatory compliance, mitigating financial risks, and implementing policies and procedures to safeguard the bank's operations and assets.
Job Responsibilities:
Pay: ₦200,000.00 per month
Job Responsibilities:
- Risk Assessment and Mitigation: Conduct thorough assessments of credit risk for potential and existing clients, ensuring that loans are disbursed to creditworthy individuals and businesses in line with the bank's risk tolerance.
- Regulatory Compliance: Ensure that all credit and lending practices comply with applicable regulatory and legal requirements, including Central Bank regulations and anti-money laundering (AML) laws.
- Credit Analysis: Review loan applications and financial data, performing risk analyses, credit scoring, and determining appropriate credit limits for borrowers.
- Policy Implementation: Develop, update, and implement the bank’s credit policies and procedures, ensuring they align with industry best practices and regulatory standards.
- Monitoring and Reporting: Continuously monitor the credit portfolio, identifying potential high-risk accounts and taking proactive steps to mitigate losses. Provide regular reports to senior management on credit risk exposure and compliance activities.
- Training and Development: Train and mentor junior staff on credit risk management and compliance procedures. Ensure that staff are aware of and follow all relevant policies, guidelines, and regulatory requirements.
- Internal Audits and Inspections: Work closely with internal and external auditors to ensure that the bank’s credit risk and compliance framework is thoroughly evaluated, and any issues are addressed promptly.
- Data Analysis and Decision Support: Analyze financial data and market trends to provide recommendations for reducing risk and improving credit policies. Support management in making informed decisions on high-risk transactions.
- Customer Service: Act as a point of contact for resolving complex client issues related to credit risk, compliance, and disputes, ensuring that all actions are in accordance with the bank’s policies and regulatory requirements.
- Fraud Prevention: Implement and oversee fraud detection and prevention strategies to protect the bank from internal and external threats. Investigate suspicious activity and report findings to relevant authorities as needed.
- Continuous Improvement: Lead efforts to improve credit risk management processes, compliance procedures, and overall operational efficiency.
- Bachelor's degree in finance, business administration, economics, or a related field.
- Proven experience in credit risk management or compliance, preferably within a microfinance or financial institution.
- In-depth understanding of regulatory requirements, risk management principles, and financial analysis.
- Strong leadership and communication skills, with the ability to collaborate across departments and lead teams.
- Excellent analytical and problem-solving skills with the ability to make data-driven decisions.
- Familiarity with credit scoring models, regulatory frameworks, and fraud detection tools
Pay: ₦200,000.00 per month
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