A vacancy exists for a Head of Credit within the Micro Merchant Division, in Century City, Cape Town.
The Head of Credit will be responsible for overseeing all aspects of the credit function within the organization. This includes collaborating with Senior Managers, Tech Leads, Project Management, and Data Science teams to ensure the Credit Portfolio is scalable, profitable and operationally successful.
This role includes the management of existing credit products within the Micro Merchant division such as short-term and medium-term credit factoring products, as well as bringing new lending products to market. Effectively managing these responsibilities, to help mitigate credit risk, optimize the company’s credit portfolio, and contribute to overall business growth and profitability.
Key Responsibilities include, but are not limited to:
- Taking new Credit products to market.
- New territory and partner integrations.
- Market portfolio and opportunity analysis.
- Responsible for all aspects of the credit business and for their P&L.
- Credit Policy Development:
- Developing and implementing credit policies and procedures in line with regulatory requirements and company objectives.
- Risk Assessment:
- Assessing the creditworthiness of potential borrowers or clients through thorough analysis of financial statements, credit reports, and other relevant information.
- Credit Underwriting:
- Overseeing the credit underwriting process to ensure that loans or credit lines are extended responsibly and in accordance with established guidelines.
- Portfolio Management:
- Monitoring the performance of existing credit portfolios, identifying potential risks, and implementing strategies to mitigate those risks.
- Credit Analysis:
- Conducting in-depth analysis of industry trends, market conditions, and economic factors to inform credit decisions and identify potential areas of concern.
- Team Leadership:
- Managing a team of credit analysts and underwriters, providing guidance, training, and support to ensure the effective execution of credit-related tasks.
- Relationship Management:
- Collaborating with internal stakeholders such as sales teams, risk management, and senior management to facilitate effective communication and decision-making processes.
- Regulatory Compliance:
- Ensuring compliance with relevant laws, regulations, and industry standards pertaining to credit operations, including but not limited to Fair Lending practices and Anti-Money Laundering regulations.
- Technology and Innovation:
- Staying abreast of advancements in credit scoring models, risk assessment techniques, and financial technology to enhance the efficiency and effectiveness of credit operations.
- Performance Monitoring and Reporting:
- Establishing key performance indicators (KPIs) for credit operations and regularly monitoring performance against these metrics, providing reports and insights to senior management as needed.
In order to be considered for this position, the following requirements must be met:
- Bachelor’s degree in Finance, Accounting, Business Administration, or related field; MBA or CFA preferred.
- Extensive experience in management accounting / financial modeling or ability to demonstrate relevant financial understanding.
- Compliance and /or credit regulatory training/qualification.
- Solid experience running a credit book of small consumer or merchant loans within the informal credit sector.
- Experience and management of compliance and regulation law for credit and loan applications within the credit space.
- Knowledge of AML and Customer KYC and Affordability understanding essential.
- Credit Risk decisions.
- Asset Management and Partner Mandates exposure.
