Head of Credit & FOSA
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Job summary
The role will be responsible for the entire Credit & Savings, FOSA operations and debt recovery and collection.
Min Qualification:
Bachelors
Experience Level:
Senior level
Experience Length:
8 years
Language Requirement:
English
Working Hours:
Full Time - 8 to 5
Applicant Location:
Kenya
Job descriptions & requirements
The role will be responsible for the entire Credit & Savings, FOSA operations and debt recovery and collection. The manager will ensure consistent application of the credit policy, periodic credit reviews of existing members with a goal of optimising income for the Sacco and reducing bad debt.
In addition, the role will ensure proper planning, organizing and coordination of FOSA to ensure efficient and economical cash operations in the front office operations of the SACCO.
Key Responsibilities
1. Managerial Responsibilities
● Build and develop a highly motivated team committed to achieving success.
● Set performance objectives and measures of success for direct reports, providing regular feedback from staff appraisal process
● Identify development and training needs; develop plans to satisfy the areas identified
● Provide leadership to the team ensuring constant training/mentorship is provided at all levels in the credit function.
● Develop and enforce application of policies, procedures and legislation
● Manage relationships with other departments and other stakeholders i.e. play the business partner role.
2. Operational Responsibilities
● Offer an oversight role in managing Society loans and savings
● Develop and maintain effective department strategies, policies and procedures to achieve target membership and portfolio size while managing risk.
● Oversee loan approval processes to achieve agreed-upon targets.
● Propose allocation of loan funds in all branches according to available products
● Ensure proper scrutiny and preparation of loan application and agreements and repayment schedules.
● Guide the credit committee on all credit operations and compliance with existing policies and procedures.
● Develop sustainable growth strategies for FOSA business on revenue areas and products development
● Implement business plans and tasks timeously to ensure set targets and budgets are realized
● Work with the Business Development Department to conduct market research. Adjust products and product mix accordingly to meet market demand and targets for portfolio growth.
● Develop sustainable strategies with key deliverables for Loan recovery and collection to reduce on loan provisioning.
● Prepare monthly credit reports on performance and analysis on emerging issues and trends in the industry to present to the C.E.O and credit committee.
● Coordinates and attends credit committee meetings including taking records of the proceedings
3. Financial Responsibility
● Prepare the annual budget for the department
● Collate and guide on procurement budgets
Requirements
● The successful candidate must have eight years’ relevant experience in a financial institution with at least four years in a senior management position.
● Hold a Bachelor’s degree from a recognised university
● ACCA/CPA (K)
● Membership to relevant professional body with good standing i.e. ICPAK
Skills
● Analytical and report writing skills
● Financial and credit risk knowledge
● Great communication skills
● Negotiation and remedial management skills
● Team player
● Planning and organisation skills
● Commercial and industry awareness
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