EFC Tanzania is a Microfinance Bank that provides financial services i.e. taking deposits and providing loans to micro, small and medium-sized enterprises and individuals. The bank is growing fast with the focus of reaching out to the unbanked business by growing its network throughout Tanzania in the coming years. To accomplish this, the bank needs to recruit Credit Risk Manager who are competent, analytical, experienced and hardworking individuals determined to go extra mile for their career growth and future.
Position Objectives
It is the primary objective of the Manager Credit Risk to plan, coordinate, control and direct all credit risk management operations of EFC Tanzania in such a way as to minimize risk and maximize profit. This position is accountable to:
• Mobilize Credit Analysts and other department support staff according to the objectives of the EFC with an enabling skills development and capacity building approach;
• Foster the development of a customer relationship culture to facilitate the consultative sale of EFC products and services and the identification and exploitation of business opportunities;
• Advance the principles of “positive change management” without business disruption in areas such as the integration of new products and services, implementation of new distribution approaches or the usage of new tools and methodologies.
Duties & Responsibilities
The Manager Credit Risk is primarily responsible to effectively identify, mitigate, and monitor risks in the EFC credit operations. In addition, s/he leads and supports the effective and efficient review, verification and analysis process for all customer loan applications submitted by Credit Officers for approval by the Credit Committee.
The principal responsibilities are to:
• Coordinate the flow and processing of customer loan applications ensuring compliance with EFC policies and procedures by conducting various controls and follow-up;
• Collaborate with the Credit Managers to plan and initiate strategies for portfolio development and recovery of loans (i.e. market surveys, identification of new and viable markets for lending business);
• Collaborate with the Credit Managers to initiate plans for recruitment, training and development of Credit Officers and Analysts in accordance with growth in the credit portfolio and make recommendations to the Human Resources Manager;
• Support staff skill development with a focus on strong customer relationship and service quality orientation to facilitate the consultative sale of EFC products and services and the identification and exploitation of business opportunities (existing customers and prospects);
• Review and ensure application of lending policies, procedures and internal controls on a regular basis and submit appropriate improvement plans and strategies for consideration and approval;
• Collaborate with the Credit Managers to ensure achievement of all credit related performance indicators and employment of necessary corrective actions as required;
• Provide departmental status reports as required.
Other tasks and responsibilities that will enable the fulfillment of the above noted responsibilities include:
• Monitoring and controlling the performance appraisal of all Credit Analysts;
• Collaborating with the Credit Managers to analyse loan arrears rates on monthly basis and trends on a weekly basis;
• Collaborating with the Credit Managers to devise and keep a regular branch visitation roster in order to assess lending activities and performance;
• Crosschecking and confirming the accuracy of all data, facts and figures to be presented to the Credit Committee;
• Participating in the development and implementation of EFC’s business plan;
• Collaborating with the Credit Managers to propose development and sales objectives according to the strategic direction and objectives of EFC;
• Performing various support function follow-up activities to promote the quality of analyses and administrative follow-up of the loan files;
• Collaborating with the Credit Managers to prepare the Credit Committee agendas and presenting loan files to the Committee for decision;
• Being attentive to the needs and expectations of customers and opportunities to improve service quality thus ensuring that their needs are fulfilled and that appropriate resources are performing the required follow-up;
• Leading and coaching the team fostering commitment and accountability;
• Ensuring the effective transfer of information and skills and staff development by organizing activities such as information and/or training events;
• Participating with the Credit Managers in various marketing and representation activities and research to support the MSE sector and the retention and growth of existing customers and the attraction of new customers;
• Driving process improvements within the department to maximise returns, mitigate losses and improve efficiencies;
• Balancing the customer outcome with the Company’s financial and reputational interests when managing customer disputes;
• Developing a strong network within the wider business to ensure that any activities which have an impact upon the Credit Risk Team and performance are identified and appropriately managed;
• Raising the profile of the Credit Risk Team within the business through sharing of best practices, positive and proactive participation in wider business projects and identification of change management or strategic projects for team involvement;
• Performance of any other related duties and responsibilities as assigned by the CD.
Qualifications & Requirements (i.e. education, skills and experience)
The Credit Manager Risk should absolutely have good practical knowledge of credit portfolio management in the financial services sector and the foresight to see how the intricate day-to-day credit related activities link with and support the achievement of the vision and mission of the EFC. In this regard, specific qualifications and requirements include:
• Bachelor’s Degree in Business Management or Finance/Economics;
• A minimum of five years’ experience lending to entrepreneurs in the micro and small enterprises sector;
• Good knowledge of credit risk management;
• Good leadership, management and team building skills;
• Excellent planning, organisational and problem solving skills;
• Ability to manage multiple priorities and deadlines;
• Excellent oral and written communication skills;
• Strong computer skills (Word, Excel, Power Point, database etc.).
Application Instructions
Interested candidates are requested to submit a letter of interest detailing their motivation for the position applied for together with their Curriculum Vitae, three professional references and copies of academic Certificates/Diplomas/Degree and others Closing Date is 17th February 2017. The letters should be addressed to:
Human Resources Department,
EFC Tanzania Microfinance Bank Limited,
8nd Floor, Tanzanite Park, 38 New Bagamoyo Road,
P.O. Box 11735,
Dar es Salaam,
Tanzania.