Trending Jobs: Credit Officer at Kenya Mortgage Refinance Company (KMRC)

Friday 7 August 2020

Credit Officer at Kenya Mortgage Refinance Company (KMRC)

The Kenya Mortgage Refinance Company (KMRC) was established as a key institution to support the Affordable Housing Pillar of the Government’s Big 4 Agenda. In establishing KMRC, the Government adopted a public private partnership (PPP) arrangement with majority private sector ownership. KMRC was incorporated on 19th April 2018 as a non-deposit taking financial institution under the supervision of the Central Bank of Kenya with the single purpose of providing long-term funds to primary mortgage lenders (Banks, Microfinance Banks and Saccos) in order to increase the availability and affordability of mortgage loans to Kenyans. In order to drive our strategy, we seek to recruit suitable candidates in various positions who will support KMRC in ensuring their commitment to affordable housing for Kenyans.

Duties and Responsibilities

The duties and responsibilities are as follows:

Operational Roles and Responsibilities
Monitor compliance with covenants and agreed terms and conditions and generaloversight monitoring of accounts conduct and performance;
Ensure compliance with KMRC’s credit policies, regulatory requirements and best practice in monitoring and control of facilities;
Identification of loans that are in arrears for more than 90 days;
Offset of deposits upon default;
Recovery of defaulted loan amount from guarantors;
Liaising with debt collectors and monitoring their debt portfolio, hold monthly meeting with them to review their performance;
Preparation of demand letters and sending the same to defaulters and their guarantors within set timeline;
Liaison with new employers for defaulters for loan recovery of defaulted loans;
Preparation schedules of defaulters for submission to CRB;
Timely and accurate listing of defaulters with CRB;
Giving notice to defaulters about listing their debts with CRB before offset to guarantors;
Advice guarantors and defaulters upon receipt of demand notices;
Preparation of monthly credit reports to the Credit Manager with necessary recommendations;
Inform member organizations about available options to repay guaranteed liability;
Preparation and sending of guarantors’ certificates;
Preparation of detailed defaulter’s schedules for credit reports;
Timely refund to guarantors’ amounts recovered;
Liaising with organizations requesting loan balances; and
Repossession of motor vehicles for defaulted loans.

Key Results Areas:

The job-holders’ accountability areas are as follows:

Submission of accurate, timely and relevant reports
Continuous process improvement of services through efficient working
Enforcement of relevant guidelines, rules and regulations
Ensure customer satisfaction for the consumers of the services offered by the department

Required Master N/A

Required Degree Bachelor’s Degree Qualification in a Business related field

Knowledge and Skills Required

The job-holder must possess:

A minimum of a Bachelor’s Degree Qualification in a Business related field
A member of the Association of Chartered Certified Accountants (ACCA) or Certified Public Accountants (ICPAK)
Minimum five (5) years’ experience in finance or a relevant field;
Professional expertise and Knowledge of loan management and credit policy
Must demonstrate high integrity and ethical practice;
Must demonstrate ability to work independently with minimum supervision;
Must be a team player who is able to work cordially in teams;
Must demonstrate ability to multitask;
Must demonstrate commitment to operational effectiveness;
Should have ability to solve problems by applying relevant business knowledge;
Should demonstrate professional expertise in the relevant work area;
Must have the ability to communicate for both written and oral communication;
Must be able to work under pressure;
Must be a flexible person, who is willing to learn and able to work flexible hours to achieve goals; and
Must have knowledge in use of MS office packages