Credit Risk Manager
Credit Risk Manager
Posted on :
29-10-2024
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1 Vacancy
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Job Description
JOB TITLE: Credit Risk Manager
LOCATION: Oniru Lagos State
TYPE OF EMPLOYMENT: Onsite
SALARY BUDGET: N600 000 Net
EXPERIENCE LENGTH: 5 years
SUMMARY
The job functions of the Credit Risk Manager revolve around identifying assessing and managing the risk of loss due to a borrower s inability to meet financial obligations. This role is essential in balancing growth opportunities with risk exposure to ensure sustainable business operations.
RESPONSIBILITIES
Policy Development and Implementation:
- Create and refine credit policies to ensure that lending practices align with the company s risk appetite and regulatory requirements.
- Develop Credit Risk Management Strategies and guidelines that include (but are not limited to such as) credit limits for various categories of borrowers based on their risk profiles.
- Develop credit scoring models to quantify the risk level associated with lending to specific clients or sectors. Software that can enhance this can be integrated
- Monitor adherence to companywide credit risk guidelines adjusting as necessary to reflect changes in the market or business strategy.
- Conduct stress testing to evaluate how market changes (e.g. interest rates economic downturns) could affect borrowers ability to repay loans.
Credit Risk Assessment:
- Analyze the creditworthiness of individuals or companies by reviewing financial statements credit history and other relevant information.
- Approve or decline credit applications highlighting all risk issues pertinent to the credit decision
Risk Monitoring and Reporting:
- Continuously monitor the performance of the credit portfolio tracking delinquency rates loan performance and changes in borrower profiles.
- Provide regular reports to senior management on key credit risk indicators and emerging risks within the credit portfolio.
- Implement early warning systems to detect potential credit risks before they materialize into losses.
Regulatory Compliance:
- Ensure compliance with regulatory requirements such as those set by financial authorities and regulators such as CBN
- Stay updated on new regulations affecting credit risk management and adjust internal practices to remain compliant.
- Ensure all statutory returns are made on time
Risk Mitigation Strategies:
- Develop and implement mitigation strategies such as loan restructuring additional collateral requirements etc. to minimize potential losses.
- Work with collection teams to manage delinquent accounts develop recovery strategies and reduce nonperforming loans (NPLs).
Collaboration and Stakeholder Management:
- Collaborate with sales and other relevant teams to ensure that risk management is integrated into lending practices without stifling growth opportunities.
- Advise senior management and the board on credit risk matters and recommend actions based on evolving risk conditions.
Data and Technology Utilization:
- Leverage advanced data analytics and technology (e.g. machine learning artificial intelligence) to enhance the credit risk assessment process and improve decisionmaking.
- Adopt credit risk management systems to automate risk assessments track exposures and generate insightful reports.
Team Leadership & Development:
- Lead and mentor credit risk analysts ensuring the development of their skills and knowledge in risk management.
- Foster a riskaware culture within the organization by promoting awareness of credit risk best practices.
Requirements
- Educational background in finance economics or a related field.
- At least 5 years experience.
- Experience in credit analysis financial modeling and risk management in the financial services industry.
- Strong knowledge of regulatory frameworks governing credit risk.
- Proficiency in using risk assessment tools and financial software.
- Excellent analytical and problemsolving skills to make informed decisions.
- Strong communication and stakeholder management abilities.
Benefits
All statutory benefits are covered including 13th Month leave allowance HMO profit sharing etc.
Educational background in finance, economics, or a related field. At least, 5 years experience. Experience in credit analysis, financial modeling, and risk management in the financial services industry. Strong knowledge of regulatory frameworks governing credit risk. Proficiency in using risk assessment tools and financial software. Excellent analytical and problem-solving skills to make informed decisions. Strong communication and stakeholder management abilities.
Education
Educational background in finance, economics, or a related field.
Employment Type
Full Time
Key Skills
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