The department handles planning, supervision, examining and management of loans and advances; supervision and management related to non-performing loans, collection, surveying and editing of data related to the loan business.
The department handles planning, supervision, examining and management of loans and advances; supervision and management related to non-performing loans, collection, surveying and editing of data related to the loan business.
Duties and responsibilities for the department include:
- Coordinate, supervise and monitor measures aimed at ensuring sound credit management with zero default rate.
- Review and recommend improvement of the current credit control policies and procedures for effective control and monitoring of Sacco credit facility.
- Review the current loan securities and make recommendations to ensure loans are fully guaranteed with sufficient and easily realizable securities.
- Ensure loan registers and customer files are kept safely.
- Ensure all loans for approval are prepared, appraised and forwarded for approval according to laid down procedures.
- Ensuring all loan defaulters are promptly followed and the loans recovered as per laid down policies and advise management on loan delinquency.
- Management of individual loan portfolio through monitoring and adhering to set terms and conditions.
- Entering necessary data in the loan register including such information as loan approved and gender.
- Scrutinize loan application forms and agreements to ensure accuracy of information given.
- Receiving loan application forms from registry office, maintaining records of members’ loan applications and approvals
- Scrutinizing loan application forms to make sure they contain proper and full information as required.
- Ensuring compliance with the Sacco’s lending policy.
- Reconciling the computer print out with the loan registers while keeping custody of the same.
- Submitting reports of the work done in the loans office on a daily, weekly, monthly and yearly basis.
- Attending to members’ claims/complaints regarding loans and advising customers whose loan requests have been declined.
- maintain loan guarantors register, loan records and monitor recoveries
- compute defaulted loans, reveal how much is defaulted and the number of defaulters, serving the guarantors with letters on defaulted loans
- Adjusting rates of loan repayment, share contributions, Loans and shares balances.
- Collecting by-products/cheques from employers.
- Delivering of attachment /loan collection data to TSC and other employers.
- Following up overdue loans and debts and ensuring that proper recoveries are made
- Issuing of loan clearance receipts to the customers
Ensuring that advance Salaries are properly recovered.