Fresher Loans Officer Job Opportunities – Balloon Ventures (BV)
Job Title: Loans Officer
Organization: Balloon Ventures (BV)
Duty Station: Mbale, Uganda
Reports to: Loan Manager
About US:
Balloon Ventures (BV) is a rapidly growing UK based social enterprise founded in 2011. We run enterprise programmes in Africa and Asia that provide training and funding to entrepreneurs for the entire business journey. Balloon’s mission … is to create a world where potential is realised through building sustainable local businesses. We do this by utilising the skills of committed international and local volunteers to provide continued support and funding to help micro-entrepreneurs grow into SMEs.
Our Strategy:
Although Balloon does provide funding for entrepreneurs, we may do so without charging interest. Therefore, the need for successful repayments is even greater. In fact, repayments of entrepreneur loans fund future entrepreneur loans. Success builds on success. Equally, as we move forward, we have identified a number of high potential entrepreneurs who we work with to progress their businesses to SME status, providing further support and funding options.
Job Summary: The Loan Officer is primarily responsible for the monitoring and repayment of Balloon loans in Mbale and surrounding areas. This includes reporting on the status of loans, as well as the follow-up required to ensure repayment.
Key Duties and Responsibilities:
- Loan distribution and Repayments:
- Support the In-country Manager with the due diligence process before loans are distributed. This will include full understanding of the entrepreneur and his/her business situation, credit checks, guarantors etc. Entrepreneurs not considered able or willing to make regular repayments will not be funded.
- Assist with setting up the loans book and payment processes, whether by standing order or mobile money account.
- Disallow any possible engagement in cash handling.
- Negotiate payment arrangement with entrepreneurs who have delinquent loans.
- Monitoring and Reporting:
- Master financial status template kept up to date with accurate information.
- Weekly reporting of loan status to In-country Manager.
- Tasked with monitoring of loan portfolio risks.
- Prepare timely reports on loan portfolio.
- General intelligence monthly reports on businesses in the locality, e.g. those in over and under supply to assist with better funding decisions.
- Follow up and entrepreneur visits:
- Actively follow up and visit entrepreneurs to encourage repayment.
- Work closely with entrepreneurs to identify ways of reaching their repayment goals.
- Regular meetings with the In-country Manager to review repayment and agree a course of action where entrepreneurs are behind with repayments.
- Take all appropriate action where entrepreneurs are unwilling to pay regularly.
- Entrepreneur Recruitment: Nurture referral networks to recruit suitable entrepreneurs
- Innovations: Constantly look to innovate solutions to support entrepreneurs whilst achieving an excellent loan repayment record.
- Identify high performing entrepreneurs: Identify and report entrepreneurs who are on track and show promise to significantly grow their business.
- Perform any other tasks and responsibilities commensurate with the level of the post
Key Performance Indicators:
- Improved repayment rates
- Improved loan repayment schedules
- Improved community referral networks
- Comprehensive overview reported on loan statuses
- Identification and progression of high potential entrepreneurs to additional stages
Qualifications, Skills and Experience:
- The applicants for the Balloon Ventures Loans Officer job placement should preferably hold Bachelor’s degrees in a related field or a Certified Public Accountant accreditation
- At least two years of related experience in a financial role
- Possess relevant micro finance experience
- Broad knowledge and understanding of the micro-finance industry including best practices and innovative approaches
- Excellent working knowledge of excel and Microsoft package
- An analytical mind and attention to detail
- Highly persuasive and confident
- Possess excellent relationship and communication skills
- Have a strong and wide network of contacts
How to Apply:
All candidates are encouraged to Email a cover letter describing how you meet our criteria and an updated CV to: applications@balloonventures.com with the subject line indicated as “Balloon Ventures Loan Officer.”
Deadline: 8th June 2017 by 5pm EAT.