Risk and Compliance Officer at EdFin Microfinance Bank

EdFin Microfinance Bank is an international financial institution in Lagos State, we are in partnership with Gray Matters Capital in USA, India, and Latin America. EdFin MFB’s Vision is to be the globally recognized bank of choice for education financial solutions in Africa and our Mission is to provide financial services to the education ecosystem for the realization of human potential

Job Title: Risk and Compliance Officer

Location: Lagos

Responsibilities

• Develop, enhance, and implement appropriate risk management policy, procedures, and systems.
• Conduct first level evaluation review on all loans to determine the creditworthiness and risks associated with potential business transactions with a view to providing mitigants to identify risks.
• Send to Acting MD/CEO for final review before disbursement and monitor daily loan portfolio report.
• Conduct visitation together with Relationship Officers to client business for loan approvals above N5million – this exclude POF.
• Daily monitoring of expected loan repayment dates and liaising with the concerned relationship officer to follow up with the customers.
• Ensure release of Daily Portfolio report and highlight key issues and proffer recommendations.
• Support the Commercial and Recovery in negotiating, workout plans for delinquent customers and make appropriate recommendations to Acting MD/CEO.
• Monthly report on loan loss provisions for management review.
• Review and analyse the delinquent portfolio to identify key causal factors and lessons, make recommendations to Acting MD/CEO for Management approval and follow up to ensure adequate and timely closure.
• Conduct weekly call-over of the Finance department’s transactions posted by Operations to ensure they are timely and into appropriate GLs – Also conduct monthly cash count with Operations Department and generate the certificate.
• Monthly/Quarterly compilation of regulatory returns for signoff and follow up, up to rendition to appropriate institutions – latest 5th of every month.
• Review risks and risk ratings of each department and support each department in developing risk mapping.
• Review Bank policy and communicate information about the risk management program to all staff.
• Monthly conduct risk assessments using Risk Event register for the departments for the purpose of updating the Detailed Risk and Control Assessment (DRACA). Identify and limit the risk associated with the Bank’s operations (Operational risks).
• Periodic compilation of Risk Assessment Report and presenting same to the Acting MD/CEO.
• Monthly preparation of Portfolio Quality Report (PQR) for the Acting MD/CEO
• Monthly compilation of the department’s reports e.g. Portfolio, PQR and Compliance template for the purpose of monthly report by the Acting MD/CEO.
• Work with risk owners to ensure that the risk management processes are implemented in accordance with agreed risk management policy and line of defense.
• Follow-up and advise management regularly on the performance of exceptional loan files such as restructured loans after proper investigation.
• Keep abreast with all government legislations and CBN policies/circulars that may affect operations and advise management on it.
• Conduct follow up for closure on Internal Audit report (SIAO) and Regulatory reports e.g. CBN, NDIC etc.
• Quarterly report to Board audit and risk committee (BARC).
• Attend Quarterly AML/CFT trainings.
• Undertake all such other roles and responsibilities as may be assigned from time to time by the Acting MD/CEO.

Application Closing Date
28th February, 2025.

How to Apply: Interested and qualified candidates should send their CV to: [email protected] using the Job Title as the subject of the mail.