Loans Intern at Mphunzitsi SACCO

VACANCY

LOANS INTERN

Mphunzitsi SACCO, an affiliate of Malawi Union of Savings & Credit Cooperative Ltd (MUSCCO), is a member owned and democratically controlled financial cooperative society that aims at providing quality and affordable financial services to its members (Teachers and any payroll based employees), Invites application from suitably qualified candidates for the position of Loans Intern.

 

PURPOSE OF THE JOB

• Managing loan disbursement (preparation of Vouchers, Journals and posting)
• Member account reconciliation
• Accountable for loan monitoring and branch loan portfolio growth.
• Monitoring and following up of delinquent accounts
• Monitoring customer credit files

 

KEY DUTIES AND RESPONSIBILITIES

MANAGEMENT OF LOAN PROCESSING

• Assessment of loans per investment and lending policy
• receipt and printing of loan applications from assigned branches for processing
• Maintain records of loan register
• Ensuring member account is well reconciled before loan processing
• Reviewing loan applications to ensure that all required information is complete and accurate
• Ensure all loan applications are well appraised
• processing of short term loans within a day
• processing of Long term Loans within 5 working days
• Speedy processing of special cases loan applications in consultations with Credit Manager
• Verifying loan insertion on core systems (PSM, Finfinancials, google sheet etc)
• Transferring shares from disbursement amount into shares for those with less shares
• Ensuring correct approved loan disbursement amounts for members,
• Maintain records of loan applications
• Adherence to all loan processing procedures according to Mphunzitsi Sacco Loan policy
• Co-ordinate with Branches in Loan processing and complaints handling
• Processing loan settlement letters
• Communicating to members after loan approvals.

 

LOAN BATCHES PROCESSING, CHECKING & SUBMISSION FOR PAYMENT

• 100% correct indication of loan disbursement amount into the loan payment batch
• Ensuring the batch has the correct bank account number for payment
• Ensure all loan payment batches are 100% checked before submission
• Timely submission of loan batches for posting into the NBM payment portal
• Follow up loan payments with finance department
• Maintain records of loan batches paid.

 

 

LOAN PORTFOLIO MANAGEMENT & REPORTING

• Ensure active loans are deducted as per scheduled to avoid loan delinquency
• Coordinate with assigned branch supervisor in production of all loan applications schedules
• Co-ordinate with assigned branch supervisor strategies for loan book growth
• Production fin-financial monthly reports for your allocated branches every 5^th of each month
• Selling loans to members without loans.

 

MANAGEMENT OF DELINQUENCY

• Checking right insertions of loans amount on PSM
• Weekly reviewing of existing loans
• Checking the age of members before starting application process
• Applying loan with the right number of months to be repaid as per loan application form
• Production of delinquency report on daily
• Weekly basis and taking action for those that have delinquent
• Production of monthly Delinquency reports to check loan loss provision
• Determining the loan loss provision for delinquent loan
• Keep Delinquency below 0.5% of the loan book
• Weekly checking of investment and making reports
• Submitting claims of deceased members and paying off their loans.

 

QUALIFICATION

• Must have a Bachelor’s Degree in Business Administration, Banking, Finance or equivalent from an accredited university.

 

KNOWLEDGE SKILLS AND ABILITIES

• Problem solving capabilities necessary to accomplish the duties and tasks of the position
• Quick decision-making and problem solving abilities
• Strong verbal and personal communication skills
• Have excellent financial analysis skills
• Ability to effectively learn and acquire new knowledge and skills
• Proficient in MS Office suite
• High level of integrity
• Attention to details
• Aged between 25 and 35 years.

 

DURATION OF INTERNSHIP

• 6 months with possibility of extension
• Tennable at Mphunzitsi SACCO Head Office in Thyolo.
• Reporting to Credit Supervisor

 

Method Of Application

Applications to be addressed to:

Human Resource and Administration,

Mphunzitsi SACCO

P.O BOX 175

THYOLO.

Or

[email protected]

All interested applicants should send their application letters and detailed Curriculum Vitae with three traceable referees, clearly indicating age, gender, attaching copies of certificates, not later than 7th June 2024.