Job offer: Loans and Business Development Officer II

Job Title - Loans and Business Development Officer II

Job Summary: -
Responsible for building and maintaining relationships with new and existing members, as well as identifying new prospective individuals for membership and establishing partnership with companies. Also, an employee in this category is required to initiate and facilitate the Society’s loan portfolio, analyze the line of credit granted to members’ and oversee the branch operations.

The employee has supervisory responsibility for the branch office to which he/she is assigned and its operations and staff which includes Customer Service Representatives in the areas of Cashing, Verification, Reception, Loans, Insurances and Payrolls.

DUTIES AND RESPONSIBILITIES:

• Reports on the branch monthly deliverables.
• Supervision of the asset pledging
• Supervision of staff responsible for generating members’ statements and expediting members’ queries.
• Supervision of staff responsible for the administration of CUNA Insurance Claims (FIP & LP/LS); and ensuring the timely payment of premiums to said CUNA for those accounts on which loan balances exceed the insurance coverage through the said CUNA.
• Prepares and submit on a timely basis all cash float reimbursements to the Manager Operations, Credit and Marketing to ensure the availability of cash to meet members’ demands.
• Disburses cash float to tellers and perform end of day locking off procedures.
• Vetting all data reports for all daily accounting transactions entered on the Emortelle Systems by Cashiers at all branches, to ensure the accuracy of all daily transactions e.g. Cash Receipts, Cash Payments, Cheque Payments and Journals for the Credit Union operations as pertains to members’ transactions.
• Responsible for the securing of the cashier’s till.
• Supervision of loan applications to ensure efficiency and completeness of applications and ensuring asset pledging for all the Society’s loans granted.
• Ensures members’ payroll deductions are correctly submitted to employers on a timely basis.
• Ensures that members’ deductions are remitted to employers on a timely basis.
• Ensure that relevant TransUnion Reports are uploaded on a timely basis.
• Reviewing all payrolls for accuracy and timely updates of wages on the Emortelle system.
• Utilize sales skills and relationship building processes to expand membership in the society and develop financial products and services that drive growth in the loan portfolio.
• Initiate the process of granting loans to members pursuant to policy measures enunciated by the Board of Directors.
• Recommend new companies and individuals for approval as members in the Society.
• Must have working knowledge of Co-operative Society’s Act (Chp. 81.03).
• Strong marketing, communication, organizational and financial skills.
• Develop business and marketing plans to achieve sales targets in coordination with the Operations Supervisor.
• Interview prospects, gather financial data, assess credit risk of new applicants for membership.
• Conduct loan interviews and counseling sessions with members regarding their financial affairs and options, as part of the relationship building process.
• Monitor all loans in the assigned portfolio, credit exposures to ensure that loans are current and review to ensure that credit quality is maintained to minimize delinquency.
• Prepare and update deduction changes for members in the Emortelle system.
• Review, assess loan applications that require approval from the credit committee.
• Ensure that all loan applications and documents are completed accurately and properly in accordance with the Society’s policies.
• Collect, update, monitor and manage all security documents retained as collateral for loans.
• Preparation of instruction for the Instrument of Charge for dispatch to the Society’s attorneys and subsequent vetting of completed IOC.
• Ensure that a Security register is maintained to reflect and record all existing Instruments of Charge and said IOCs are stored in a secured location and an appropriate report is submitted to the Manager on a monthly basis. Such reports must include the status of outstanding IOCs so minimize the Society’s exposure.
• Verify that all loan forms are properly administered before filing.
• Prepare credit reports on the members’ loan portfolio as required.
• Assess, retrieve and compile members’ Transunion reports on specific loan applications.
• Accurately monitor member’s loan amortization schedule.
• Generate weekly reports on all business development activities and the results achieved.
• Respond to member queries and complaints in a timely and efficient manner.
• Follow-up with members to ascertain if responses to queries and resolution of problems was handled to their satisfaction.
• Research the market for developing new loan products and services to drive membership and revenue growth.
• Monitor and report on the revenue generated from the membership portfolio.
• Actively manage accounts to minimize loan delinquency.
• Develop creative strategies to retain existing members and minimize loan liquidations and member resignations.
• Develop strong member relations in order to achieve revenue targets by providing quality customer service.
• Oversee all marketing of products and marketing initiatives.
• Liaising with members on all resignations, liquidations and share withdrawals to collect information before submission to the Manager.
• Execute semi-annual performance assessment on subordinate staff in May and November each year.
• Institute disciplinary procedures where necessary to ensure compliance with the Society’s Disciplinary procedures.
• Any other related duties requested and required by the Manager Operations, Marketing and Credit of the Society from time to time, and based upon business exigencies.

QUALIFICATIONS

• Bachelor’s degree in Banking, Finance, Marketing or a related field.
• At least 5 years’ experience in Business Development, Credit underwriting in the related field, Bank retail operations or Credit Union operations.
• Excellent communication and negotiating skills
• Excellent relationship-building and marketing skills.
• Knowledge of Financial Analysis and risk assessment tools
• Critical thinking with proven problem-solving ability
• Excellent verbal and written communication skills
• Ability to meet deadlines with excellent time-management skills
• Be proficient in advanced Microsoft Word and Excel
• Knowledge of financial service industry best practices.
• Knowledge of Credit Union operations, IFRS 9 and AML Compliance will be an asset.