Risk and Credit Manager at iRecharge Tech-Innovations Limited

iRecharge Tech-Innovations Limited is an innovative financial services company committed to reshaping the future of banking by leveraging cutting-edge technology to provide innovative financial solutions. With a focus on excellence and operational efficiency, we strive to deliver a seamless banking experience for our customers.

We are recruiting to fill the position below:

Job Title: Risk and Credit Manager

Location: Lagos

Key Responsibilities

• Develop and implement risk management policies and procedures.
• Conduct stress testing and scenario analysis to evaluate the impact of potential risks.
• Review credit limit requests, assessing the appropriateness of the product type, overall credit extension, borrower’s repayment ability, and loan package conformity to organizational standards.
• Monitor various lending team portfolios for credit risk issues, including exception reporting, past dues, loan agreement compliance, trend analysis, and emerging risks.
• Ensure efficient credit risk management to promote an excellent customer experience, both internally and externally.
• Analyze the delinquent portfolio to identify causal factors, make recommendations, and track progress to ensure timely closure.
• Manage loan recovery efforts, such as negotiating work-out plans for delinquent customers and coordinating with collection agencies or legal action when necessary.
• Monitor violations of credit policies and provide analysis, conclusions, and recommendations to senior management.
• Prepare comprehensive and reliable credit risk reports for senior management and the board on a regular basis.
• Ensure compliance with internal and external risk management policies, and provide staff training on risk management practices.
• Collaborate with other departments to ensure a comprehensive approach to risk management.
• Assist in the development of new credit products and services.
• Perform other duties as assigned.

Key Performance Indicators (KPIs)

• Credit Application Turnaround Time: Average time taken to analyze and approve credit applications.
• Accuracy of Risk Assessments: Percentage of accurate risk assessments based on financial statements and credit reports.
• Implementation of Risk Policies: Success rate in developing and implementing risk management policies and procedures.
• Risk Mitigation Plan Implementation: Response time and effectiveness in reducing identified risks.
• Effectiveness of Stress Testing: Accuracy and comprehensiveness of stress testing and scenario analysis.
• Credit Limit Review Efficiency: Timeliness and thoroughness of credit limit reviews.
• Portfolio Monitoring: Frequency and accuracy of monitoring lending team portfolios for credit risk issues.
• Customer Satisfaction: Rating of credit risk management processes.
• Delinquency Management: Reduction in delinquent portfolios and success rate of loan recovery strategies.
• Compliance Monitoring: Number of credit policy violations identified and resolved.
• Credit Risk Reporting: Timeliness and accuracy of credit risk reports prepared for senior management and the board.
• Regulatory Compliance: Adherence to internal risk management policies and external regulatory requirements.
• Staff Training Effectiveness: Frequency and effectiveness of staff training on risk management practices.
• New Product Development Support: Contribution to the development of new credit products and services.
• Cross-Department Collaboration: Level of effective collaboration with other departments.

Requirements / Qualifications

• Education: Bachelor’s degree in Finance, Economics, Business Administration, or a related field. A professional certification (e.g., CIBN) is preferred.
• Certification in Risk Management (e.g., FRM, PRM) is preferred.
• Experience: Minimum of 3-5 years of experience in risk management or credit analysis within the banking and technology industries.
• Strong analytical skills with proficiency in risk assessment tools and methodologies.
• In-depth knowledge of risk management frameworks and credit risk analysis, especially within banking and technology.
• Experience in stress testing and scenario analysis.
• Attention to detail and ability to make sound judgments.
• Proficiency in Microsoft Office Suite and risk management software.
• Thorough understanding of current risk management methodologies.
• Strong ability to balance risk management with strategic organizational goals.
• Skill in transforming risk management into a strategic tool for enhancing stakeholder value.

Application Closing Date
30th November, 2024.