Credit Administrator at Phillips Outsourcing Limited

Phillips Outsourcing Limited has been in existence for over 16 years. We have a vast experience in the outsourcing business as we currently manage resources for major clients in all sectors of the Nigerian economy. In addition, our prolific manpower cuts across the 36 states in Nigeria. After successfully gaining ground in all the 36 states of the federation, we are gradually spreading our tentacles to other African Nations. We are currently registered to also do business in Ghana. Our framework is developed to fully support the businesses of our clients, ensuring continuous improvement of the outsourced services. This ultimately thrusts our clients to achieve their business objectives.

We are recruiting to fill the position below:

Job Title: Credit Administrator

Location: Abuja (FCT)
Employment Type: Full-time

Job Summary

• The Credit Administrator will be responsible for overseeing the credit approval process, maintaining credit files, and ensuring compliance with the Bank's credit policies.
• This role involves working closely with the Credit analyst, relationship officers, and other team members to facilitate credit decisions and manage credit risks.

Key Responsibilities
Credit analysis:

• Assist in conducting credit analysis and evaluations to assess the creditworthiness of customers.
• Prepare reports on credit analysis and make recommendations to the credit manager.

Monitoring loan performance:

• Track and monitor loan repayments to ensure timely collections.
• Identify early warning signs of potential defaults or delinquencies.

Customer account management:

• Maintain regular communication with borrowers to address any issues related to repayments.
• Update customer records with any changes to contact information, repayment terms, or other relevant data.

Covenant compliance checks:

• Ensure that borrowers adhere to the loan covenants and conditions stipulated in the loan agreement.
• Review financial statements and other documents periodically to verify compliance.

Collateral monitoring:

• Regularly review and verify the condition and value of collateral pledged against loans.
• Ensure that collateral documentation remains valid and is renewed as necessary (e.g., insurance policies).

Loan restructuring and rescheduling:

• Evaluate requests for loan restructuring or rescheduling due to financial difficulties faced by the borrower.
• Work with the credit team to develop alternative repayment plans that minimize risk to the bank.

Repayment reconciliation:

• Reconcile loan repayments with customer accounts to ensure accuracy.
• Address any discrepancies between the bank’s records and the borrower’s payment records.

Delinquency management:

• Identify overdue accounts and take appropriate action, such as sending reminders or notices.
• Engage in early intervention strategies to work with borrowers who are experiencing financial difficulties.

Non-performing loan (NPL) management:

• Classify and manage non-performing loans in line with regulatory guidelines.
• Work with the recovery team to initiate recovery actions, including legal proceedings if necessary.

Job Qualifications

• Bachelor’s Degree in Finance, Accounting, Business Administration, or a related field.
• Minimum of 2-3 years of experience in credit administration role.
• Strong understanding of credit risk management and regulatory requirements.
• Excellent analytical skills with attention to detail.
• Proficiency in credit management software and Microsoft Office Suite (Excel, Word, PowerPoint).
• Strong communication and interpersonal skills.
• Ability to work independently and as part of a team.

Application Closing Date
18th October, 2024.