Credit Risk Advisor to FiNCOOP, Malawi

Company
CCA - ACC
Brief Description

 

Credit Risk Advisor to FiNCOOP, Malawi's largest credit union and

Malawi Union of Savings and Credit Co-operatives (MUSCCO)

WHERE:  Lilongwe, Malawi 

WHEN: August 1, 2012 to September 30, 2012 (somewhat flexible)    

APPLICATION PROCESS:  Please send a detailed letter of interest specifically outlining your experience with credit approval, administration and collection along with a copy of your resume to Sarah Feldberg, Volunteer Coordinator at sarah.feldberg@coopscanada.coop.  Application deadline is June 7th, 2012.  Due to the time sensitive nature of this posting, CCA may choose to screen candidates as suitable applications come forward.  Only qualified candidates will be contacted for an interview.

*This is a voluntary assignment. All related costs including domestic airfare, ground transport, and a meal/incidental allowance will be covered by CCA.  For more information contact Volunteer Co-ordinator, Sarah Feldberg. 

 

BACKGROUND

MUSCCO is seeking an experienced credit union professional to assist in the stabilization of Finance Cooperative Ltd. (FINCOOP), Malawi's largest Saving and Credit Cooperative Organization (SACCO). On February 3, 2012, the Registrar of Cooperatives placed FINCOOP under statutory management due to large loan losses. Day to day management and stabilization of FINCOOP has been delegated to MUSCCO.  A volunteer Financial Advisor has worked directly with FINCOOP in April and May 2012 and has identified the need for an in-depth review of FINCOOP's credit risk. Recruitment of a Credit Risk Advisor represents Phase 2 of FINCOOP's recovery.

YOUR ROLE

In close collaboration with senior management of FINCOOP the Credit Risk Advisor will develop and oversee the implementation of a written credit recovery plan that will cover all aspects of credit risk:  

  • Within the first few weeks, provide a written outline of your deliverables
  • Provide a written outline of what will be included in the credit recovery plan for FINCOOP management approval. As a minimum, the outline should include:
  • Early warning metrics signaling an increase in credit risk
  • Identify gaps in each stage of credit administration (loan underwriting, loan documentation, loan administration, and loan collection)
  • Assess the adequacy of existing credit controls and reports
  • Assess the credit staff structure and mentor existing staff
  • Develop a marketing strategy to grow the consumer loan portfolio
  • Develop a work plan including a time line to implement agreed recommendations
  • Strengthen credit policies and procedures and develop mechanisms to ensure adherence to credit policies
  • Support MUSCCO in their interaction with the Reserve Bank of Malawi and other stakeholders

QUALIFICATIONS
The ideal candidate will have underwriting experience, a good knowledge of member marketing, preferably consumer and agricultural loans, and a very strong background in credit risk and collections

  • At least 10 years of consumer credit experience, ideally covering all stages of credit administration from loan underwriting, loan documentation, loan administration, and loan collection.
  • Familiarity with credit policy and typical areas that should be included in a credit policy
  • Familiarity with credit scoring tools
  • Experience approving consumer loans and perfecting security
  • Experience marketing consumer loan products
  • Experience achieving sales goals within delinquency and loan loss constraints
  • Experience collecting consumer loans and working out of distressed loan portfolios
  • Ability to assess the quality of all stages of credit administration gained from working in a consumer credit department, credit inspection department, internal audit, or as a regulator.
  • Experience supervising credit staff and collecting loans
  • Experience reporting summary credit risk metrics to management and Board
  • Commercial credit experience is beneficial, but not mandatory
  • Willingness to roll up your sleeves and achieve results
  • Team player and desire to collaborate

Canadian Co-operative Association

The Canadian Co-operative Association (CCA) is a national association for co-operatives in Canada, representing more than ten million co-operative and credit union members from over 2,000 organizations.  Individual co-op members are represented by CCA either directly through their co-operative, through their provincial co-op associations or credit union central, or through sectoral organizations. CCA provides leadership to promote, develop, and unite co-operatives and credit unions for the benefit of people in Canada and around the world.    For more information about the mentorship program, visit CCA website.        

MUSCCO

Malawi Union of Savings and Credit Cooperatives (MUSCCO) is a member-based organisation of Savings and Credit Cooperatives (SACCOs) operating throughout Malawi.  MUSCCO was established 15th September, 1980 with a mandate to promote service and support SACCOs in Malawi. At the same time that MUSCCO was formed there were 26 SACCOs with savings amounting to MK360,000 and a loan portfolio of MK354,000. Both MUSCCO and SACCOs have experienced steady growth since 1980.

Core funding for this program is provided by the Partnership Program of the Canadian International Development Agency (CIDA) and CCA's charitable funding partner, the Co-operative Development Foundation of Canada (CDF)