DEPARTMENT: Credit Administration
LOCATION: Port of Spain
SUMMARY OF RESPONSIBILITIES
The Manager – Credit Administration is key to maintaining the financial health of the organisation through astute adherence to the credit administration philosophy as well as industry best practices. The role requires ensuring that all policies and procedures governing loan underwriting, processing, portfolio maintenance and records management are kept up-to-date and in line with regulatory requirements and international best practice. The Manager – Credit Administration is charged with the responsibility of developing and monitoring annual portfolio growth and interest income targets; actively promoting business development initiatives for new loan business; directing all activities pertaining to loan origination, underwriting, processing, disbursement, securities management, arrears management and records management. The role is entrusted with the Credit Union’s primary asset group, loans, and is therefore accountable for the consistent application of the credit policy with the goal of optimizing portfolio growth and income while mitigating loan losses
The position requires strong leadership capability and experience in managing team performance, with the ability to coach and mentor as necessary.
The position reports to the General Manager.
This job description is not intended to be exhaustive. Employee may perform other related duties as required to meet ongoing needs of the Credit Union.
KEY DUTIES AND RESPONSIBILITIES
- Accountable for ensuring strict adherence and compliance to established Credit Policies and procedures, industry operating standards and regulatory guidelines (including but not limited to CBTT & Co-op Societies Act)
- Creates, updates, reviews and monitors relevant policies and procedures, safeguarding the Credit Union’s philosophy whilst ensuring that appropriate controls are in place to promote effective and efficient Credit Administration.
- Responsible for managing the Records Management and related functions of the organisation’s operations. Implements and maintains control measures to uphold the confidential aspect of operations.
- Actively participates in the organisation’s annual budgeting exercise, provides all financial data, forecasts and analysis for loan portfolio and loan interest income growth. Continuously monitors the budget for variances, provides reports to General Manager with sound recommendations to address any shortfalls
- Engages in the research and evaluation of economic and industry trends and makes sound recommendations on matters that have the potential to influence credit related policies/procedures
- Interacts with External Auditors, the Internal Auditor and Members of the Supervisory Committee and ensures that all necessary resources and documentation are made available for the facilitation of all audit assignments and investigations.
- Promotes and maintains service excellence to our members in executing of the credit administration function
- Approves loans in accordance with the Board approved limits of the Manager, Credit Administration as set out in the Credit Policy.
- Processes and recommends loans for approval that are outside the authorized criteria/limits as set out in the Credit Policy and presents same to the Executive Committee of the Board that are outside the set approval criteria
- Manages branch operations with direct responsibility administratively and for the credit function. Ensures that the branches are operating in accordance with established policies and guidelines.
- Works with the Marketing Manager and Branch Managers to identify, solicit and leverage cross-sell opportunities and opportunities for growth.
- Manages business development from the perspective of loan portfolio growth through collaboration with the Business Development Officer and the Branch Managers. Actively supports the research and identification of potential strategic partnerships to promote the services of financial well-being and responsible borrowing
- Prepares ad-hoc and scheduled (weekly, monthly, quarterly, annually) reports as required and/or requested by the General Manager, Executive Management and other stakeholders
- Actively contributes and promotes the department’s compliance with all statutory and regulatory requirements including the AML/CFT programme
- Provides strong leadership and supervision to the department. Utilises and enhances the available resources to create a performance focused environment. Provides guidance and performance management support (including but not limited to staff reviews and development training) as required
- Ensures that the necessary steps are taken to stay current and relevant as a credit administration professional and keep up to date with best practices.
- Establishes and is accountable for the quality of the content and presentation of all correspondence of the Department and branches – including but not limited to reports, proposals, etc.
- Provides professional support to the Credit Committee and other functional departments on matters relating to credit administration.
- Actively supports and participates in all management initiatives including strategic planning, business continuity, monitoring and reviewing operational initiatives. Ensures the department is updated with regard to same in a timely manner.
- Actively creates and promotes an environment of cooperation and performance.
- Takes necessary steps to stay current as a Credit professional, ensures compliance with all professional and ethical standards of the profession and the organisation.
- Assists with special projects/assignment and attends committee meetings and training as required.
EDUCATION AND WORK EXPERIENCE
- B.Sc. (or equivalent) in Accounting, Finance, Business Management or related discipline
- An MBA will be an asset
- Minimum of seven (7) years continuous and relevant experience in Credit Administration (including loan underwriting, arrears management or related environment), of which at least five (5) should have been at a Supervisory / Managerial level.
- Specialized training in Credit Administration an asset
- Proficiency in risk-based lending an asset
- Proficiency in records retention policies and procedures an asset
- Demonstrable knowledge of relevant legislation, economic and lending industry best practices
- Proficiency with Microsoft Office Suite – especially Excel and Word.
- Proficiency with relevant Credit / Accounting software an asset
SPECIALIZED SKILLS/TRAINING AND ATTRIBUTES
- Solid working and verifiable knowledge and experience in Credit Administration specifically loan underwriting, arrears management and loan loss provisioning.
- Solid working knowledge and experience regarding the implementation of credit policies and procedures
- Familiarity with Accounting standards relevant to loan disclosures and provisioning
- Commercial and business awareness as it related to the financial services industry and lending trends
- Comprehensive knowledge of a Credit Union (or Bank) operations, structures, risk management, internal controls, processes, products and services will be an asset.
- Must be experienced working with confidential information in a highly sensitive position
- Strong report writing, analytical and problem-solving skills, ability to provide recommendations to Board and ensure implementation of same.
- Strong Supervisory skills, able to effectively manage the performance of the team
- Meticulous, strong attention to detail with an investigative nature
- Able to train, mentor and coach team members as needed.
- Must be a strong communicator – with the ability to interact with all stakeholders including the Board, General Manager, Staff and shareholders.
- Must be able to foster and maintain a cooperative work environment
- Demonstrable skill in examining and re-engineering operations and procedures, formulating policy, and developing and implementing new strategies and procedures.
- Ability to develop, plan, and implement short- and long-range goals.
Applications with complete Résumé should be addressed to:
Human Resource Manager
RHAND Credit Union Co-operative Society Limited
#57-61 Abercromby Street
PORT OF SPAIN
Email: firstname.lastname@example.org (Subject: Manager – Credit Administration)
The closing date for receipt of applications is: 4:00 pm on Wednesday April 14th, 2021.
NB: We thank you for your interest in working with RHAND Credit Union – please note, only short-listed applicants will be contacted.