Retail Credit Manager at I&M Bank October, 2023

Job Title: Retail Credit Manager

I&M Bank

Job Purpose
The purpose of the job is to enhance the quality of the retail lending ecosystem across the bank. The role holder will serve as the Retail Credit Manager and support various forms of retail lending within the Bank. His/her role will involve being part of relevant Credit Committees and ensuring facilities approved are within the Bank’s lending risk appetite, policies and procedures. He /she will also be in charge of driving credit policies, credit scoring, credit analytics, coordinating Credit Risk Operations and end-to-end monitoring within the Credit Department. He/she will help in establishment of professional credit structures, processes and credit culture for Retail Lending including implementation of various Collections strategies.

Main Responsibilities

  • Leading relevant Retail Credit Committees as required and ensuring facilities are approved within the Bank’s lending policies and procedures;
  • identifying where there are breaches of policy and putting in place controls and mitigation strategies.
  • Developing and implementing retail lending analytics, credit policies, scoring and end-to-end monitoring including Collections.
  • Focusing on the development and review of internal credit scoring for retail lending including the digital lending platform on an ongoing basis with strong credit analytics.
  • Review, challenge and influence various retail lending growth strategies with a balanced risk approach, to ensure loss rates are within approved levels.
  • Ensuring strategic alliance with collection agencies and effective monitoring of their performance.
  • Assisting and managing any third-party alliances for loan origination including their commercial terms, business case, credit scoring models and Service Level Agreements (SLAs), etc.
  • Executive oversight of offer letters to ensure that the conditions of sanctions have been captured correctly and offer letters are free of errors.
  • Ensuring Turn-Around-Times (TATs) as per agreed Service Level Agreements (SLAs) for assessment of Credit Applications referred to Retail Credit Risk.
  • Monitoring Legal and Regulatory developments that impact Risk and lending processes to ensure that Retail Credit compliance is within local legal and regulatory requirements at all times.
  • Monitoring local and national economic indicators as they affect retail lending processes.
  • Reviewing of retail lending policies and procedures in line with current needs, changing market and review of credit products.
  • Developing a team of Retail Credit analysts who will provide sustainable support to the Head of Credit
  • Ensuring requests reviewed by the credit analysts are in compliance with laid out policies and reporting trends and issues requiring corrective actions
  • Developing and providing automated Retail Credit solutions wherever possible to minimise operational losses.
  • Ensuring implementation of effective controls over Retail Credit Model implementation and evaluating the efficacies of the score cards.
  • Ensuring policy breaches/ exemptions are properly authorized at the correct level.
  • Proactively improving the Bank’s retail credit portfolio through continuous improvement.
  • Ensuring that the Retail lending proposition is undertaken within the approved Risk Appetite at all times and any exceptions are appropriately authorised.
  • Preparing the unit’s budget at the beginning of the year (derived from the overall Bank budget).
  • Ensuring departmental costs are maintained at approved level in the year by containing operational costs.

Communication requirements of the position
This position is required to communicate verbally, prepare reports, and make presentation on various credit risk matters to the business units, Executive Committee (EXCO), Management Credit Committee (MCC) and Group Credit.

Knowledge/Skills/Competences/Behaviours required
– High level of people management and negotiation skills to be able to deal with different stakeholders.
– Excellent knowledge of general banking procedures and policies as well as regulations.
– Able to adjust quickly to different work situations; remain composed under pressure and stressful situations.
– Must be able to understand financial data and scoring methodologies applicable to Retail Credit.
– Attention to detail to ensure accuracy in the development of Retail Credit models; detect errors; follow through on corrections and mitigate risks as soon as they are identified.

Essential Knowledge
– Credit assessment, Management and Monitoring skills within the Retail Segment across individual and business entities segments.
– Thorough understanding of the Small and Medium Enterprises and Personal Lending dynamics associated with the lending to the Retail segment.
– Have a thorough understanding of the formulation and evaluation of Retail Credit Models including Credit Scoring.
– Financial analytical skills and understanding of key aspects of Retail Credit Policy
– Communication & report writing skills.
– Well versed on Bank of Tanzania prudential guidelines pertaining to lending.
– Prior and solid understating of retail credit procedures and approval process.
– General appreciation and awareness of the current business trends and practices

Qualifications and Experience
– A Bachelor’s degree preferably in Business, Finance or Accounting.
– Professional Banking or Accountancy qualifications will be an added advantage
– At least 10 years of banking experience of which the last 3 years must be within a Retail.

Credit Risk environment.
– Experience in third party alliances and partnerships on Digital lending.
– High data rationality, detail consciousness with high analytical and numerical skills.
– Ability to interpret financial and legal documents.
– Good computer skills