Head of Credit (Faulu MFB) at Old Mutual Kenya

Job Description

The role is responsible for developing and implementing credit strategies, credit policies and procedures that promote efficient and effective credit risk and control environment as well as managing the quality and profitability of the credit portfolio within acceptable risk appetite.
This role is also responsible for managing the credit sanction process, credit risk analysis, credit security documentation and custody, credit administration; credit monitoring and reporting while ensuring compliance to the Central Bank of Kenya (CBK) prudential guidelines, credit principles, Bank credit policy and other regulatory requirements.

Implementation of credit policies and procedures

• Continually reviews, develops, and refines credit policies and procedures to determine their suitability for the bank’s requirements and recommends modification and upgrading to meet the desired standards and changes in the bank’s risk profile.
• Develops and drafts credit risk policies and procedures to comply with the bank’s strategy and objectives and issues credit policy bulletins as required to accommodate changing business environment
• Ensure all lending proposals are within the Bank’s Credit Policy & prudential regulations
• Ensure any policy breaches are properly authorized at the correct level
• Daily monitoring of excesses to ensure properly authorized and accounts regularized as required
• Periodically do risk review of new and existing credit products and non-credit products with inherent risks and advise the management on remedial measures
• Monitor and manage concentration risks in the Credit portfolio
• Manage the performance  and relationships of third party service providers

Effectiveness and efficiency in loan approval system

• Oversee analysis of proposals from all the business segments
• Oversee analysis of proposals for personal loans and other MOUs
• Attend and chair Head Office Credit committee (HOCC) meetings
• Ensure that all appraisal decisions meet the agreed SLA
• Give feedback to branch managers and other business leaders on the quality of loan appraisals.

Documentation and perfection of securities

• Ensure that all loans are properly documented in standard agreements that are legally enforceable to safeguard the bank’s exposure.
• Liaise with legal department to ensure efficient execution of legal documentation and securities within the agreed SLA
• Review credit documentation to ensure compliance to changes in regulations
• Ensuring that the security documentation and other necessary documentation are obtained and completed in all respects before draw down of the facility
• To capture, register, monitor, control and report all types of collateral offered by the customers and ensure that they are safely lodged
•  Ensuring a proper system of withdrawal of securities is set up and maintained at all times.

Loan disbursements and management reporting

• Ensure that all pre-disbursement sanction conditions are met before disbursement
• Ensure that all approved credit facilities are disbursed within the SLA
• Generate daily MIS reports to branches on disbursements.
• In liaison with Finance and IT departments ensure that all relevant fees, commissions and interest  are collected on new and existing facilities
• Management Information System (MIS) including statutory returns to the Central Bank

Quality Self-Assessment

• Ensure the internal processes are adhered to by the respective units in credit departments and branches
• Review all loans approved by branch credit committees and ensure compliance to credit policy
• Monitor violations of credit policy and recommend remedial actions
• Monitor adherence to credit SLAs

Collection of loans

• Develop and implement collection policies and procedures

Credit risk management

• Develop, monitor and implement the Credit risk policy
• Design and delivery of fit for purpose management information across the various segments to ensure accurate and consistent reporting

People management

• Offer leadership to ensure achievement of credit department objectives by setting departmental and individual objectives, managing performance, developing, and motivating staff, feedback, and appraisal in order to maximize departmental performance.
•   Maintain and develop professional and technical credit knowledge in the bank through training programs, meetings, staff forums and other initiatives.

Bankwide AML KYC & CFT Responsibilities

• Communicating and reinforcing the AML-CTF compliance culture established by the board
• Implementing and enforcing the board-approved AML, KYC & CFT policy within the Department.

Education

• Bachelor Commerce (Required)

Closing Date: 04 May 2023