Credit Risk Officer

Job Title: Credit Risk Officer

The Company: Memento Microfinance Bank Limited, a member of the Paga Group

Company type/Sector: Microfinance Banking/ Financial Services

Reports to: Manager, Credit Risk

Location: Lagos, Nigeria

Experience: Minimum of 3 years’ relevant experience in credit, risk management, banking, microfinance or financial services

ABOUT MEMENTO MFB

Memento Microfinance Bank (MMFB) is a Tier 1 Unit Microfinance Bank licensed by the Central Bank of Nigeria (CBN) and committed to the economic growth and empowerment of Nigerian individuals and small/medium-sized businesses. MMFB is a digital bank, offering products and services tailored to customers’ needs, including micro savings, micro loans, investments, capacity building and financial advisory services.

ABOUT THE ROLE

The Credit Risk Officer is responsible for assessing loan applications and providing objective, data-driven recommendations in line with Memento Microfinance Bank’s credit policies and risk appetite. The role evaluates borrowers’ creditworthiness, repayment capacity, financial position, indebtedness and collateral, where applicable.

The role also ensures accurate credit documentation, verifies fulfilment of approval conditions before disbursement, monitors portfolio performance and identifies early warning signals to support effective credit risk management.

PRIMARY RESPONSIBILITIES

1. Credit Appraisal and Analysis

• Review loan applications and supporting documents for completeness, accuracy and compliance with lending requirements.
• Analyse bank statements, cash flows, financial information, business performance, indebtedness and repayment capacity.
• Review credit bureau reports from CRC, First Central and other approved agencies.
• Assess transaction patterns, borrower risk classification, collateral and security, where applicable.
• Coordinate relevant KYC and risk checks, including BVN, NIN, CAC and sanctions screening.
• Identify inconsistencies, potential default risks and other adverse credit indicators.
• Prepare credit appraisal reports with clear, evidence-based recommendations.

2. Credit Recommendations and Approval Support

• Recommend appropriate loan amounts, tenors, repayment structures and conditions based on assessed risk.
• Document findings, assumptions, exceptions and outstanding requirements.
• Support Credit Committee reviews and provide additional analysis when required.
• Record credit decisions, approved terms and conditions accurately on the loan origination platform.
• Communicate approval requirements to relevant stakeholders.

3. Conditions Precedent and Disbursement

• Verify that approved Conditions Precedent (CPs), including documentation, guarantees and collateral requirements, are fulfilled before disbursement.
• Complete the required CP checklist and maintain supporting records.
• Escalate outstanding or inadequate conditions to the Head of Risk.
• Ensure Credit Risk certifies CP fulfilment before Finance disburses funds and that loans are booked only after Credit Risk sign-off.

4. Portfolio Monitoring and Early Warning

• Monitor loan exposures, repayment performance and borrower financial health.
• Identify and escalate missed repayments, delinquency trends, covenant breaches and other early warning signals.
• Recommend accounts for enhanced monitoring, restructuring, remedial action or recovery, where necessary.
• Support portfolio reviews and reporting on delinquency, non-performing loans (NPLs) and other credit risk indicators.

5. Reporting and Risk Controls

• Prepare credit risk reports and maintain accurate portfolio records.
• Monitor compliance with lending policies, credit limits, approval authorities and risk parameters.
• Analyze portfolio trends and concentration risks and recommend improvements to credit appraisal processes.
• Support internal and regulatory reviews by providing accurate records and supporting documentation.
• Uphold established credit controls, confidentiality and segregation of duties.

6. Stakeholder Management

• Work with Relationship Officers and Business Development teams to obtain required credit information and documentation.
• Liaise with Compliance/Internal Control on KYC and regulatory requirements.
• Collaborate with Finance and MIS on disbursement and loan booking requirements.
• Provide timely feedback on outstanding requirements while maintaining the independence of the credit risk function.

KEY COMPETENCIES

• Credit Appraisal and Underwriting
• Financial, Bank Statement and Cash Flow Analysis
• Credit Risk Assessment and Decision-Making
• Credit Bureau Analysis
• Portfolio Monitoring and Early Warning Identification
• Credit Documentation and Risk Controls
• Data Analysis and Interpretation
• Attention to Detail and Professional Judgement
• Stakeholder Management

KNOWLEDGE AND SKILL REQUIREMENTS

• Bachelor’s degree in finance, Accounting, Economics, Business Administration, Statistics or a related discipline.
• Minimum of 3 years’ relevant experience in credit, risk management, banking, microfinance or financial services, preferably in loan appraisal or underwriting.
• Good understanding of credit assessment, lending processes, repayment capacity and borrower financial analysis.
• Knowledge of SME and retail/microfinance lending, credit bureau reports, collateral and loan documentation.
• Understanding of KYC, AML and applicable financial services regulations.
• Familiarity with digital lending platforms and automated credit assessment tools is an advantage.
• Strong analytical, numerical, problem-solving and communication skills.
• Proficiency in Microsoft Excel and other relevant analytical tools.

We are an equal opportunity employer and value diversity and inclusion. We do not discriminate on grounds of colour, race, nationality, religion, age, ethnic origin, disability, gender, marital status, or sexual orientation in our employment practices.