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Job Description/Requirements
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:
All statutory benefits are covered, including 13th Month, leave allowance, HMO, profit sharing, etc.
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 company-wide 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.
- 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
- 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.
- 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
- 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 non-performing loans (NPLs).
- 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.
- Leverage advanced data analytics and technology (e.g., machine learning, artificial intelligence) to enhance the credit risk assessment process and improve decision-making.
- Adopt credit risk management systems to automate risk assessments, track exposures, and generate insightful reports.
- Lead and mentor credit risk analysts, ensuring the development of their skills and knowledge in risk management.
- Foster a risk-aware culture within the organization by promoting awareness of credit risk best practices.
- 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.
All statutory benefits are covered, including 13th Month, leave allowance, HMO, profit sharing, etc.
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