The primary role of a Credit Analyst Team Member is to support the Credit function by analyzing credit data and financial information to determine the degree of risk involved. The Credit Analyst will also be involved in the follow-up collection process
Key Responsibilities
- Researching and evaluating clients' creditworthiness
- Analyze various qualitative and quantitative data (including income determination, bank statements, financial statement, credit bureau reports and other relevant documents provided by customers to support the request) to determine the degree of risk in the granting or underwriting of credit according to group credit policy and procedures.
- Approving or rejecting loan requests, according to Zain Cash credit policy.
- Monitoring payments and installments.
- Maintaining records of loan applications.
- Prepare the daily collection plan and arrange collections accordingly.
- Carry out timely and relevant communication between credit and applicants, and all other parties involved in the approval process.
- Underwrite/approve credit requests within the role's approval authority or initiate the escalation of the credit request to a higher approving authority, detailing requested exceptions, if any, department's recommendation, based on the results of the assessment.
- Conduct research on credit policy trends and best practices.
- Develop and recommend (credit policy and procedure changes) to the credit manager.
- Participate fully as a member of the team, support a positive work environment that promotes service to the business, quality, innovation and collaboration and ensure timely communication of issues/ points of interest/Keep current on emerging trends and developments and grow knowledge of the business and related tools and techniques /Prepare and submit credit assessment report to the approver, recommend and or adjust limits based on the results based on the analysis of the financial situation and gathered information.
- Performing other duties related to the job as assigned by the direct Manager.
- Conducting comprehensive financial analysis of applicants' financial statements, tax returns, credit reports, and other relevant documents to evaluate their financial health and ability to repay debt.
- Evaluating the credit risk associated with extending loans or credit lines to borrowers based on their financial data, industry trends, market conditions, and other relevant factors.
- Utilizing credit scoring models and risk assessment tools to determine credit scores and ratings for borrowers, which help in decision-making processes regarding loan approvals or denials.
- Performing due diligence on applicants, including verifying financial information, assessing collateral, and investigating any red flags or discrepancies in their credit history.
- Staying updated on industry trends, economic indicators, and market conditions may impact the creditworthiness of borrowers or the overall credit risk environment.
- Preparing detailed credit reports, loan proposals, and other documentation summarizing the findings of credit analyses and recommendations for credit decisions.
- Communicating credit decisions, recommendations, and risk assessments to relevant stakeholders, including loan officers, underwriters, senior management, and sometimes directly with clients or applicants.
- Monitoring the performance of existing loans and credit lines in the portfolio, identifying potential credit issues or delinquencies, and recommending appropriate actions such as loan modifications, refinancing, or collections.
- Ensuring compliance with regulatory requirements, industry standards, and internal policies and procedures governing credit risk management and lending practices
- Collaborating with other departments such as risk management, compliance, legal, and operations to mitigate credit risk, streamline processes, and optimize lending practices.
- Providing assistance and support to clients or applicants throughout the credit application process, addressing inquiries, and offering guidance on improving creditworthiness
Requirements
- Bachelor's Degree holder in Business, Economic, Finance or any related field.
- 2-4 years of experience in credit management and collection
Preferred Skills
- Strong statistical skills, judgment, and decision-making abilities.
- Strong interpersonal skills.
- Knowledge of basic industry research capabilities, including risk and key drivers.
- Ability to identify key drivers for change and process improvements.
- Strong written and verbal communication skills with the ability to communicate clearly and concisely to audiences of varying levels of seniority.
- Financial Analysis.
- Technology Proficiency
