2024 Checkoff Finance Recruitment
About Checkoff Finance Company Ltd
Checkoff Finance Company Ltd is a privately-run finance company founded in 2021; we metamorphosed from Checkoff credit (originally founded in 2017). Our business was set up with the express purpose of offering unsecured loans to workers, payroll loans to public and private sector employees. These remain our raison dāetre, but, as time has passed, we have grown our business to provide additional support services.
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Summary
- Company: Checkoff Finance Company Ltd
- Job Opening: 2 Positions
- Job Type: Full Time
- Qualification: BA/BSc/HND/MSC
- Location: Ikeja – Lagos, Nigeria
- Benefits: N450,000 – N500,000 net +Weekly Team Breakfast and Lunch + Weekly Bonus + Pension, etc.
- Application Deadline: Not Specified
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Job Opening: 2 Positions
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1. Job Title: Credit Risk ManagerĀ
- Job Type: Full Time
- Qualification: BA/BSc/HND/MSC
- Salary: N450,000 Net + End of the Year Bonus
- Location: Ikeja, Lagos
Key Responsibilities
Credit Risk Monitoring:
- Loan portfolio performance: Maintain a non-performing loan (NPL) ratio below 5% by conducting regular reviews of the loan book and implementing corrective and preventive actions where necessary.
- Default rate management: Ensure that the default rate on loans is controlled and remains below industry benchmarks (e.g., below 2% per month).
- Loan approval efficiency: Maintain an average loan approval turnaround time of 24 hours without compromising credit quality.
- Credit scoring accuracy: Ensure that the company’s credit scoring models achieve an accuracy rate of 99% in predicting loan defaults.
Reporting & Analytics:
- Prepare monthly risk reports that provide insights into credit exposure, loan portfolio performance, and key risk indicators (KRIs), including sector-specific risks.
- Perform loss forecasting and stress testing on the loan portfolio, ensuring that potential bad debt is anticipated and adequately provisioned for.
- Ensure timely review and reporting on the performance of collateralized loans, including any discrepancies or valuation concerns.
Portfolio Diversification & Risk Mitigation:
- Ensure diversification of the loan portfolio by spreading credit exposure across different sectors, such as paramilitary, public, and private sectors, to minimize concentration risk.
- Achieve sectoral credit exposure balance: Ensure no more than 50% of the loan portfolio is exposed to any single sector, reducing risk concentration.
Credit Policy Development & Implementation:
- Develop and refine credit risk policies and procedures to guide the credit approval and monitoring processes for loans, ensuring that they align with the company’s risk appetite.
- Design and implement a robust credit scoring model that evaluates the creditworthiness of customers, particularly government employees and paramilitary officers.
- Implement risk-based pricing models for loans to align the interest rate with the customer’s risk profile, ensuring fair but profitable lending rates.
Loan Application Assessment & Decisioning:
- Oversee the credit evaluation process for loans, ensuring that loan applications are reviewed for creditworthiness, financial stability, and repayment capacity.
- Work closely with the sales and underwriting teams to ensure that all loan approvals adhere to company standards and that exceptions are rare and well-justified.
- Assess new credit products or enhancements to identify potential risks and ensure adequate safeguards are in place.
Risk Mitigation Strategy:
- Establish and enforce credit limit frameworks, determining the maximum allowable exposure per customer, sector, or product to prevent over-concentration of risk.
- Work with the collections department to design and implement strategies for managing delinquent loans, including restructuring options and enhanced collections tactics for loans.
- Ensure that collateral policies are adhered to, including the proper registration and management of assets pledged as security for loans.
Regulatory Compliance & Risk Governance:
- Ensure compliance with regulatory requirements loans, credit management, and risk controls, including reporting obligations to financial regulators (e.g., CBN regulations).
- Implement internal controls to prevent fraud and loan diversion, particularly in areas such as loan origination, approval, and disbursement.
- Lead the companyās credit risk governance efforts, reporting key risks to senior management, the board, and external stakeholders as required.
Collaboration with Cross-Functional Teams:
- Collaborate with the Sales and Underwriting teams to balance growth objectives with risk management, ensuring that loan approvals align with both sales targets and risk appetite.
- Work closely with the team to ensure that appropriate provisions are made for bad debt, ensuring that the company’s financial statements accurately reflect risk exposure.
- Provide training and support to front-line staff on credit risk issues, helping to enhance their understanding of credit quality and risk mitigation techniques.
Requirements
- A bachelorās degree in finance, Economics, Business Administration, or a related field. A master’s degree or professional certifications (e.g., CFA, FRM) is an advantage
- 5+ years of experience in credit risk management, preferably within a regulated environment.
- Proven track record of managing loan portfolios and reducing credit risk.
- Analytical and data-driven: Strong ability to analyze large data sets, including loan performance data, to identify patterns and risks. Advanced excel skill
- Financial modelling: Proficient in using credit scoring models, risk assessment tools, and financial forecasting techniques to predict potential defaults and manage portfolio performance.
- Risk assessment and mitigation: Skilled in applying quantitative risk assessment methods, stress testing, and sensitivity analysis.
- Decision-making: Strong judgment skills, especially in balancing risk and opportunity when reviewing loan applications and setting credit limits.
- Leadership and communication: Ability to communicate credit policies and risk guidelines clearly to teams across departments, ensuring alignment with the companyās risk tolerance.
- Problem-solving and adaptability: Capable of devising innovative solutions to credit-related challenges, such as restructuring delinquent loans or optimizing credit approval processes.
- Attention to detail: Precision in reviewing loan documentation, ensuring compliance with credit policies, and detecting early signs of credit risk.
Earnings Potential and Benefits
Pension + HMO + End of the Year Bonus + Team Breakfast and Lunch + Periodic Paid Training + More!
Click here to get a professional, ATS compliant CV from an Expert.
2. Job Title: Sales ManagerĀ
- Job Type: Full Time
- Qualification: BA/BSc/HND/MSC
- Salary: N500,000 Net + Commission + End of the Year Bonus
- Location: Ikeja, Lagos
Key ResponsibilitiesĀ
Sales Target Achievement:
- Monthly sales target: Drive the team to achieve a defined monetary target in loans disbursed.
- Performance tracking: Ensure team members achieve at least 80% of their individual targets monthly.
- Loan disbursement growth: Increase loan disbursement volume by at least 75 -100% annually.
- Conversion rate: Maintain a conversion rate of leads to loan disbursements at or above 50%.
Team Performance Metrics:
- Team productivity: Ensure telesales and field sales teams meet KPIs, with a minimum of 10 qualified leads per day per telesales agent and 5 face-to-face meetings per week for field agents.
- Customer acquisition: Drive acquisition of new customers 200-500 monthly or based on agreed targets.
- Loan portfolio quality: Keep the non-performing loan (NPL) ratio below 5% by ensuring due diligence during the sales and approval process.
Reporting & Analysis:
- Generate weekly and monthly sales performance reports, showing the percentage of target achievement, breakdown of sales by product, and sector penetration.
- Analyze loan disbursement trends, customer feedback, and competitor activity to inform sales strategy and optimize operations.
Sales Strategy & Planning:
- Develop and implement sales strategies aimed at growing loans within key sectors and identify new partnership opportunities.
- Lead sales campaigns that align with market trends, customer needs, and business goals.
- Monitor competitive activities and adjust tactics accordingly to maintain the company’s market share.
Team Leadership & Motivation:
- Provide effective leadership, mentoring, and coaching to the sales team to enhance their performance, build team morale, and foster collaboration across departments (e.g., with marketing and customer experience).
- Conduct performance reviews, assess skill gaps, and develop training programs to equip team members with the necessary skills for success.
- Foster a results-oriented environment while maintaining ethical selling practices and adherence to regulatory requirements.
Customer Relationship Management:
- Oversee and enhance customer satisfaction by ensuring sales agents communicate clearly, address client inquiries effectively, and maintain high customer service standards.
- Engage directly with high-value clients, employers, and stakeholders to understand their needs and customize loan solutions.
- Implement customer retention programs and post-sales support processes to increase loyalty and repeat business.
Collaboration & Cross-Functional Coordination:
- Collaborate with the risk management team to ensure proper loan vetting procedures are followed, minimizing defaults.
- Work closely with product development to provide customer feedback and suggest product enhancements that align with the market’s needs.
- Ensure a strong working relationship with the finance and underwriting teams to align on disbursement timelines and compliance protocols.
Requirements
- Bachelorās degree in business administration, Finance, Economics, or a related field. An MBA is an advantage.Ā
- 5+ years of experience in telesales/telemarketing within the financial services sector.
- Demonstrated success in achieving sales targets and managing sales teams.
- Strong proficiency in sales forecasting, performance analysis, and financial reporting.
- Ability to manage and interpret KPIs, with a focus on improving conversion rates and revenue growth.
- Experience with CRM software and sales management tools for data tracking and customer segmentation.
- Leadership and people management: Ability to motivate and develop a high-performing team.
- Communication and negotiation skills: Excellent verbal and written communication skills, particularly in dealing with corporate clients and internal stakeholders.
- Market understanding: Deep knowledge of loan products, customer needs, and market dynamics in Nigeria, especially within the public sector.
- Problem-solving and critical thinking: Strong ability to think strategically and make data-driven decisions to resolve challenges and improve sales outcomes.
Earnings Potential and Benefits:
Competitive Commission + End of the Year Bonus + Pension + HMO + Team Breakfast and Lunch + Periodic Paid Training + More!
Method of Application
Click here to get a professional, ATS compliant CV from an Expert.
(See tips on how to write a professional CV, ATS Compliant CV and a sample cover letter.)
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2024 Checkoff Finance Recruitment
2024 Checkoff Finance Recruitment
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