Loan Officer

Responsibilities:

Loan Origination and Business Development:

• Identify and source prospective individual, SME, and corporate borrowers through direct marketing, referrals, networking, and other business development channels.
• Promote the institution's loan products and explain their features, eligibility requirements, interest rates, repayment terms, and conditions to prospective customers.
• Develop and maintain a strong pipeline of qualified loan prospects.
• Conduct market visits and customer engagements to identify lending opportunities.
• Achieve assigned monthly and quarterly loan disbursement targets.
• Build and maintain relationships with existing and prospective customers to encourage repeat business and referrals.

Loan Application and Credit Assessment:

• Receive, review, and process loan applications in accordance with the institution's credit policies and procedures.
• Conduct customer interviews and collect relevant documentation required for loan processing.
• Verify customers' identities, employment or business information, income sources, and financial capacity.
• Conduct physical visits to customers' business locations, residences, or places of employment where necessary.
• Analyse customers' cash flows, repayment capacity, existing financial obligations, and credit history.
• Identify potential credit risks and make appropriate recommendations based on the findings of the assessment.
• Prepare and submit comprehensive credit appraisal reports for review and approval.
• Ensure that all loan applications meet the institution's Know Your Customer (KYC), Anti-Money Laundering (AML), and other compliance requirements.

Loan Disbursement and Documentation:

• Ensure that all approved loan conditions are satisfied before disbursement.
• Confirm that loan agreements, guarantor forms, collateral documents, and other supporting documentation are properly completed and executed.
• Liaise with the Credit, Risk, Operations, and Compliance teams to facilitate timely loan processing and disbursement.
• Ensure that customers understand their repayment schedules, interest obligations, and other loan terms before disbursement.
• Maintain accurate and complete records of all loan transactions and customer documentation.

Loan Monitoring and Recovery:

• Monitor assigned loan portfolios to ensure customers meet their repayment obligations.
• Follow up with customers before and after repayment due dates to encourage timely payments.
• Identify early warning signs of potential loan default and escalate concerns to the appropriate department.
• Conduct regular visits and follow-ups with customers whose repayment obligations are overdue.
• Work with the Recovery and Risk Management teams to develop appropriate strategies for recovering delinquent loans.
• Maintain regular communication with customers experiencing repayment difficulties and explore approved repayment arrangements where appropriate.
• Minimise portfolio-at-risk (PAR), delinquency, and non-performing loans within the assigned portfolio.
• Maintain accurate records of collection activities, customer commitments, and outstanding loan balances.

Customer Relationship Management:

• Maintain professional relationships with borrowers throughout the loan lifecycle.
• Respond promptly to customer enquiries, complaints, and requests relating to loan products and repayment obligations.
• Provide customers with accurate information on loan balances, repayment schedules, and outstanding obligations.
• Identify opportunities to cross-sell other financial products and services.
• Maintain customer confidentiality and ensure the responsible handling of customer information.

Reporting and Performance Management:

• Prepare and submit daily, weekly, and monthly reports on loan applications, approvals, disbursements, collections, and outstanding balances.
• Track individual loan portfolio performance against assigned targets.
• Provide regular updates on customer repayment behaviour and potential credit risks.
• Maintain an updated database of prospective borrowers, existing customers, and assigned loan accounts.
• Participate in departmental meetings, performance reviews, and business development activities.
• Recommend improvements to loan origination, customer acquisition, monitoring, and recovery processes.

Compliance and Internal Controls:

• Ensure strict adherence to the institution's credit policies, operational procedures, and internal control guidelines.
• Comply with applicable CBN regulations, relevant FCCPC requirements, AML/CFT regulations, and data protection requirements.
• Ensure that all customer information and loan documentation are handled securely and confidentially.
• Avoid conflicts of interest, unauthorised lending commitments, and any form of unethical lending practices.
• Report suspected fraud, falsification of documents, suspicious transactions, and other irregularities through the appropriate channels.

Requirements:

• HND in Banking and Finance, Accounting, Economics, Business Administration, Marketing, or a related discipline.
• Knowledge of loan appraisal, credit analysis, customer acquisition, and loan recovery processes.
• Familiarity with Nigerian financial services regulations and lending practices.
• Relevant professional certifications in banking, credit management, or microfinance will be an added advantage.

Skills and Competencies:

• Strong sales, marketing, and business development skills.
• Excellent communication, negotiation, and interpersonal skills.
• Credit analysis and financial assessment skills.
• Strong numerical and analytical abilities.
• Customer relationship management skills.
• Good knowledge of loan recovery and debt collection techniques.
• Ability to work independently and achieve targets.
• Good report-writing and documentation skills.
• Integrity, accountability, and attention to detail.
• Proficiency in Microsoft Excel and banking/loan management software.