Head of Credit

HEAD OF CREDIT – (TENABLE AT HEAD OFFICE, LILONGWE)

Job Purpose:

To manage the Bank’s overall credit portfolio and the Bank’s overall credit risk management function with respect to new and revised credit, credit after-sell care, credit training, credit policies and procedures and to have overall responsibility for all credit facilities and Legal Collections, general reporting as well as Basel II reporting.

Key Responsibilities include and are not limited to the following:

I. Custodian and driver of Credit Policy and Strategy:

• Recommend revisions to the bank’s Credit Policies at least once per annum.
• Stay abreast of new developments and approaches with respect to Credit Management.
• Continuously assess and adjust the Bank’s credit strategy according to market needs and trends.
• Manage the credit mandates of all Managers delegated with credit management

2. Reporting and Administration:

• Manage all aspects of reporting at Credit Department and Legal Collections level.
• Manage all aspects of administration in Credit Department and Legal Collections.
• Receive and review monthly reports as identified from time-to-time (e.g. monthly report from branches).
• Report monthly on irregularities by branches and Corporate Banking Division as observed from daily activities to Executive Management.
• Submit daily disbursements and collections reports to Executive Management.

3. Credit Assessment and Aftercare

• Assess all credit proposals within own allocated mandate
• Analyse credit proposals and recommend to the Board Credit Committee and main Board
• Manage the Bank’s irregular credit facilities with respect to amount and numbers for all asset products
• Manage and limit amount of provisions and bad debts in line with set targets.
• Manage NPL ratio within the regulatory limits
• Manage credit portfolio asset classification in line with regulatory guidelines

4. Legal Collections and Actions:

• Increase the amount of collections to the optimum levels.
• Manage and enhance recovery of bad debts.
• Prompt liaison with the Bank’s lawyers in enforcing hard recovery of bad debts and submit reports thereon.

5. People Management:

• Provide effective leadership to staff under direct supervision.
• Provide on the job training and development to staff.
• To plan for resource allocation for the department.
• Carry out performance appraisals for staff in the department.
• Coach /mentor staff to improve their performance on a regular basis.

Qualifications/Experience:

• Master’s degree in Finance and Banking, Commerce, Accounting, Economics, Banking and Investments Management, Business Administration or related field.
• Candidates should also possess a bachelor’s degree from a recognized university in the areas highlighted under Masters.
• 8 years credit risk management experience at head and manager level in a regulated financial institution (preferably in both corporate and retail credit risk)
• Credit evaluation and credit recoveries experience with complex credits and structuring experience.
• Understanding and experience of statistical concepts related to credit risk models
• Knowledge of ICAAP and stress testing
• Knowledge and experience of Basel II guidelines on credit risk.
• Credit and financial analysis skills to effectively oversee credit analysis and portfolio maintenance in a manner that consistently achieves quality benchmarks.
• Knowledge and effective application of all relevant banking policies, processes, procedures and regulatory guidelines to consistently achieve required compliance standards or benchmarks.
• Strong understanding of statistics and quantitative data analysis methods.
• Strong financial analysis, investments management, product development and pricing, valuation, asset-liability management, balance sheet management, and capital management.

Applications for the Position:

Interested applicants with the required qualifications and experience should submit their applications, along with a detailed Curriculum Vitae (CV) with the names of three traceable referees, to the Head of Human Resources and Administration, Centenary Bank, PO Box 31567, Lilongwe, or e-mail recruitment@centenarybank.co.mw.

The closing date for the receipt of applications is Friday, 25th October, 2024.

Only shortlisted applicants will be acknowledged.