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1 month ago

Job 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.

  • Minimum Qualification : Degree
  • Experience Level : Senior level
  • Experience Length : 5 years

Job Description/Requirements

Responsibilities:

Policy Development & 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.


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 & 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 non-performing loans (NPLs).


Collaboration & 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 & Technology Utilization:

  • 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.


Team Leadership & Development:

  • 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.


Qualifications & Skills:

  • Educational background in finance, economics, or a related field.
  • 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.
  • 5 years’ Experience


Remuneration: NGN 600,000 Net

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