Credit / Loan Officer

Job Description

A startup finance company is looking for a credit/ loan approvals officer to join the team in our Kampala office.
As a loan approvals officer, your primary responsibility is to assess and evaluate loan applications from customers. Your role involves ensuring that the loan applications meet the necessary criteria and are in compliance with the organization’s lending policies and regulations.

Here is a detailed job description for a loan approvals officer:

• Review and evaluate loan applications submitted by customers.
• Analyze applicants’ financial information, including credit reports, income, expenses, and assets, to determine their creditworthiness.
• Assess the risk associated with each loan application, specifically looking for red flags or indicators of fraudulent behaviour, and make informed decisions regarding approval or rejection.
• Implement fraud detection techniques and tools to identify and prevent fraudulent loan applications, such as identity theft, falsified documents, and misrepresentation of financial information.
• Make recommendations for loan terms, interest rates, and collateral requirements based on the applicant’s financial profile and the organization’s lending policies.
• Communicate with applicants and other provided contacts to request additional information or clarification/ verification regarding their loan applications.
• Maintain accurate records of loan applications, decisions, and related correspondence, with specific emphasis on documenting any instances of suspected or confirmed fraud.

Ensure compliance with all relevant regulations and internal lending policies.
Provide excellent customer service by communicating loan decisions to applicants in a clear and professional manner.

The ideal candidate should have a combination of education in the finance sector, relevant experience in credit or underwriting and key skills necessary for effectively evaluating and making decisions on loan applications. This profile emphasises the importance of financial acumen, attention to detail, and adherence to lending policies and regulations.

Requirements:

1. Bachelor’s degree in finance, business administration, or a related field.
2. Proven experience in loan processing, underwriting, or a similar role within the financial services industry.
3. Strong understanding of lending regulations and compliance requirements.
4. Excellent analytical and decision-making skills.
5. Effective communication skills, both written and verbal.
6. Attention to detail and accuracy in evaluating loan applications.
7. Proficiency in using loan management software and financial analysis tools.
8. Familiarity with CRM systems and Microsoft Office Suite

About Us

We are a small start up company that offers quick and accessible financing for every day products like home appliances and electronics. Our vision is to create a platform that provides the answers to financial inclusion for the communities we serve through providing loans.

Company culture

At our company, we believe in fostering a friendly and creative environment as part of our work culture. We encourage collaboration, open communication, and respect for diverse ideas. We value creativity and believe in empowering our employees to think outside the box, take risks, and innovate. We strive to create a welcoming and inclusive atmosphere where everyone feels valued, inspired, and motivated to contribute their best.