Credit Officer at Freedom Financial Services Limited

Job Vacancy: Credit Officer

About Us:
Freedom Financial Services Limited is a microfinance institution committed to providing accessible and collateral-free loans to marginalized communities. Our mission is to empower civil servants, private employees, women, and youth by offering financial solutions that break traditional banking barriers.
We provide payroll-backed loans to both public and private sector employees, with a focus on underserved communities, including those in semi-urban and rural areas. Our core philosophy is based on trust, dignity, and integrity, ensuring that even those without collateral can access credit.
Our vision is to be a market leader in credit and loan management by minimizing red tape in loan processing while maintaining a strong focus on calculated risk management. We pride ourselves on our values of transparency, accountability, professionalism, and customer care.

Key Responsibilities:

Credit Vetting and Application Processing

• Vet all credit applications against the credit policy.
• Detect possible fraudulent activities and verify customer data.
• Provide timely feedback to customers on application outcomes.
• Verify employee details and client affordability.
• Handle customer complaints efficiently.
• Manage loan maintenance and collection from Government & approved Private Employers.

Risk Management

• Identify risks such as fraud, data manipulation, and fake documentation.
• Implement risk mitigation controls and enforce risk management measures.

Compliance

• Conduct pre-approval checks on loans to ensure quality and compliance.
• Verify loan affordability and check for compliance with market conduct standards.
• Ensure data integrity in the loan management system.

Credit Life Management

• Maintain a register of deceased clients and handle insurance claims.
• Prepare and submit claim forms for credit life insurance.
• Manage the write-off process for repudiated loans.

Refunds Processing

• Process refund claims and ensure timely payments.
• Maintain and update the refunds register.
• Submit monthly reports on refunds.

Complaints Handling

• Register and manage client complaints using the RBM prescribed format.
• Provide immediate feedback and escalate complex issues to management.
• Submit monthly complaint reports.

Write-offs

• Prepare and maintain documentation for loan write-offs.
• Ensure write-off records are updated and properly filed.

Collections

• Upload deduction files to PSM and submit them to approved private employers.
• Reconcile reports from PSM and collect payments from government and private employers.
• Follow up on loan defaulters and short payers.
• Manage customer debit orders and process direct debit batches.
• Prepare and submit monthly collection reports.

Other Duties

• Perform any other tasks assigned from time to time.

 

Requirements:

• Diploma in Business Studies or a related field.
• 2-3 years of experience in credit and collections functions.
• Understanding of policies, systems & procedures, Malawi legislation, and Reserve Bank of Malawi Directives.
• Good oral and writing skills.
• Computer literacy.

Method Of Application

Interested candidates should send their Cover letter, Curriculum Vitae (CV), with 3 traceable references, and copies of their qualifications to [email protected] by 27th September 2024.

Only shortlisted applicants will be contacted.