Credit & Collections Manager

Job Description

The Central Co-operative Credit Union Limited is seeking a qualified and professional individual to serve in the position of Credit & Collections Manager. The Credit and Collections Manager is responsible for the integrity, financial safety, soundness and growth performance of the Credit and Collections functions of Central Credit Union.

Responsibility

• PORTFOLIO AND UNIT LEADERSHIP - Be responsible for all aspects and areas of lending, including attention to the details of loan application, supporting documentation, interviewing, investigating, verification, underwriting, analysis, recommendation and closing all loans in respect of eligible Central Credit Union members.
• Keep the Policies and Procedures Manual up to date with current market standards and in keeping with the Co-operative Societies Act, Regulations and the By-laws.
• Oversee the Credit Union’s Credit and Collections Portfolio, conducting prior and ongoing due diligence on all individual and corporate borrowers and instruments for CCCUL loans, to maximize loss prevention and minimize reputational risk in keeping with the PEARLS, IFRS 9 and applicable standards.
• Prepare the growth strategy, annual projections and plan assumptions for the various loan categories, for inclusion in the Annual Budget. Special attention will be paid to Disaster Mitigation and Recovery as well as to Asset/Liability Management.
• LOAN APPLICATIONS - Conduct the necessary screening and verification of applicants, in keeping with the CCCUL Policies and Procedures.
• Ensure that all completed loan applications approved within the department and those due for approval are submitted for the General/Branch Manager’s scrutiny, before being submitted to the Credit Committee or other committee.
• CREDIT ADMINISTRATION - Ensure that all securities pledged for loans, e.g. Certificates of Title, Bills of Sale are scrutinized for proper valuation and location visited where applicable, are caveated and are in the custody of the Credit Union.
• Lead the reduction of Delinquency levels to 5%, of Contamination levels to below 10% and maintain a Recovery Rate in excess of 85%.
• COLLECTIONS - Supervise the work of the Loans & Delinquency/Collections Personnel, vetting their monthly work schedules, targets and results.
• Adhere to the Board Policy and avoid credit risks that would endanger the recovery of the members’ funds invested in the Credit Union.
• RISK MITIGATION - Familiarization with the principles of IFRS 9 and champion initiatives that enhances CCCUL’s profitability by minimizing Expected Credit Loss
• Develop additional IFRS 9 ECL models and/or PD/LGD scorecards should the Credit Union widen its product offering
• Advising on the concentration levels of the loan portfolios and current market intelligence thereby reducing portfolio risk
• MANAGEMENT SUPPORT - Support the General Manager in the general leadership, motivation and development of members and staff to achieve excellent productivity and profitability results.

Experience and Qualifications

• Bachelor’s degree in Finance, Accounts, Economics, Business or Management;
• Master’s Degree in previous mentioned fields would be an asset.
• Minimum of Three (3) years or Managerial experience in Credit Management of a financial institution
• Proven work experience as a credit manager.
• Advanced knowledge of accounting software.
• Good understanding of lending procedures.
• Advanced mathematical skills.
• Excellent analytical skills.
• Good communication skills.
• Good interpersonal skills.
• Detail orientated.
• Ability to deal with stressful situations.

Benefits and Others

Interested candidates should submit a cover letter; resume’ including professional and personal references under confidential cover to:

The General Manager
Central Co-operative Credit Union Limited
42/44 Federation Drive,
Goodwill
Commonwealth of Dominica

Deadline for receipt of application is February 17th, 2023.