Job Title: Loans Officers (Several Job Vacancies)
Organisation: Cycle Connect
Duty Station: Gulu, Uganda
Cycle Connect is delivering the products and services to rural farmers to unlock potentials and propel communities forward. To catalyze farmers to realize their potential Cycle Connect offers asset financing directly to the most remote farmers. Our first product, a bicycle, connects farmers to market and other basic life needs. Our portfolio is growing with new assets that push upward mobility for rural farmers. We’re dedicated to serving farmers who are financially excluded and yet need access to assets on credit.
We are a social driven business. We are committed to our impact and the farming customers we serve, but we see the need for business opportunities in community development.
To date we’ve disbursed over 4,000 loans and are focused on another 3,000 in the coming twelve months.
Key Duties and Responsibilities:
As a Loan Officer, you will have the overall responsibility to ensure a high quality loan portfolio. Your primary responsibilities will include:
Applications and Appraisals of clients (25%):
- Evaluate the credit worthiness of individuals using the individual application and appraisal forms
- Use Cycle Connect policies strictly when carrying out client application and appraisal processes
- Going above and beyond the individual appraisal to use good judgment in loan processes
Loan Distribution (10%):
- Coordinating logistics of loan disbursements
- Ensuring bicycles are disbursed to named applicants
- Ensure all applications and agreements are dually signed and completed
Group/Individual Repayments (40%):
- Call or text group executives two to three days before repayment dates
- Attend all loan repayments
- Ensure and enforce attendance of groups at loan repayments
- Ensure repayment schedules, group receipts, and passbooks are up to date and accurate
- Supervise repayments to ensure timely repayments from all clients
Monitoring and Defaulting Clients (10%):
- Proactively follow-up with clients who miss payments, starting from the day they miss
- Comply with Cycle Connect follow-up procedures for defaulting clients
- Assess late fines, and repossess collateral when necessary, according to organizational policies and procedures
Administrative Tasks (10%):
- Maintain and update written and electronic loan records, as well as other client or group documents
- Field enumeration and data reporting
- Write all necessary loan reports
- Photocopying, data entry, and answering phone calls as necessary
- Other tasks deemed necessary by the supervisor
- Work with management to improve loan procedures and policies
- Work with management to achieve, or exceed, quarterly and annual organization goals
Key Result Areas/ Accountabilities:
- Thorough and accurate evaluation of creditworthiness, including home visits for each client
- Maintain strong repayment rate (over 90%) and below 1% Portfolio at Risk (PAR30)
- Show accountability for defaulting loans with proactive outreach and follow-up with clients from the first day they miss payment
- Maintain strong relationships with group executives, and clients, and community leaders
- Ensure paper and electronic group records match, are accurate and up to date
- The ideal candidate must hold a diploma or degree in relevant field (Finance, Business, etc.)
- A minimum of two years of experience in a similar role at a credit institution, preference given to those who have worked at a Microfinance Institution (MFI)
- Experience working with VSLAs, or farmer’s groups
- Familiarity with agriculture
- Fluency in both Luo and English, with strong written and oral communication skills
- Ability to ride motorcycle long distances daily
- Be able to work independently
- Computer skills including a loan database, Microsoft Word and Excel, as well as, the ability to learn new programs
- Extremely organized, detail-oriented, fast-paced and efficient with a high level of integrity
- Able to work independently in an unstructured environment where systems and processes are being built or improved everyday
Why work with us?
- Cycle Connect is growing quickly, which allows the opportunity of staff to grow with us. We offer professional development stipends for employees to use at workshops or trainings of their choice.
- We offer competitive salaries and monthly airtime stipends.
- We are constantly seeking to build the best company. This means we take your feedback seriously – your knowledge and experience can improve our policies and procedures.
- While our team is result-oriented, we also have a lot of fun. We enjoy team meals and lots of laughter.
You will work primarily out of our office in Gulu. You will spend approximately 75% of your time in the field. Working hours are Monday to Friday 9:00am to 6:00pm. Evening and weekend work may be needed. As a Loan Officer, you report to the credit supervisor and will work alongside a growing team of eight Loan Officers and two other Marketing Officers.
We are also looking out for a cultural fit and values that we embody are non-negotiable, candidates should embody all Cycle Connect values and ensure they live up to our values. Below are our core values, Humility, Integrity, Accessibility, Boldness, Solution Oriented
How to Apply:
All suitably qualified and interested candidates should apply online at the link below.
Deadline: 30th April 2019