Credit Officer

Location - Bangalore (Ulsoor)

About the Role

We are looking for a Credit Officer to facilitate lending for our clients in MSME segments by assessing creditworthiness of loan proposals and processing relevant paperwork. You will help our clients acquire loans in a timely manner, while ensuring we comply with the law.

To be successful in this role, you should have a good understanding of lending procedures, financial/Balance Sheet analyses and Risk management especially credit risks.He/She should be able to provide excellent customer service and should be a good team player.

Responsibilities:

Loan Application Review:

• Review loan applications for Loan against property to determine eligibility and creditworthiness.
• Review loan applications for Three wheeler / Four Wheeler cargo/passenger Vehicle loans to determine eligibility and creditworthiness.
• Evaluate applicants' financial documents, including bank statements, IT returns, credit reports etc.
• Analyze the applicant's ability to repay the loan based on income, assets, and existing debts.

Risk Assessment:

• Assess the risk associated with each loan application and make recommendations based on the applicant's financial stability and ability to repay the loan.
• Identify potential risks and mitigate them through thorough analysis and due diligence.
• Utilize credit scoring models and risk assessment tools to quantify credit risk accurately.

Regulatory Compliance:

• Ensure compliance with all regulatory requirements and internal policies throughout the underwriting process.
• Stay updated on industry regulations and best practices to ensure adherence to legal standards.

Communication:

• Communicate effectively with credit managers, applicants, and other relevant stakeholders to gather necessary information and clarify any discrepancies.
• Provide clear and concise explanations of underwriting decisions to applicants and internal teams.

Documentation:

• Prepare comprehensive loan underwriting reports, including detailed analyses and recommendations.
• Maintain accurate and organized records of all underwriting activities and decisions.

Essential to the role :

• Must have at least 2 years of experience in Credit/Finance, including a minimum of 1 year of experience in Loan Against Property (LAP)
• MBA in Finance or a related field.
• Proficiency in Kannada Language Skills - Written and Verbal

Qualifications/ Requirements:-

• Should be able to understand credit reports.
• Proven experience in underwriting loans, preferably in the microfinance/banking sector/NFBC.
• Strong understanding of financial analysis, credit risk assessment, and lending principles.
• Familiarity with regulatory requirements and compliance standards related to lending operations.
• Should have understanding of LOS/LMS system
• Collaborate with collection agents, legal advisors, and other stakeholders to implement recovery plans.
• Negotiate repayment terms and settlements with borrowers to minimize losses and maximize recovery.
• Monitor and track progress on recovery efforts, adjusting strategies as necessary to achieve desired outcomes.
• Interview loan applicants to determine financial eligibility and feasibility of granting loans.
• Determine all applicable ratios and metrics and set up debt payment plans.
• Excellent analytical skills with the ability to interpret financial data.
• Effective communication skills, both verbal and written.
• Attention to detail and the ability to work independently as well as part of a team.
• Ability to work on SAS portal.
• Proficiency in relevant software applications and tools for financial analysis and reporting.

About Udhyam Financial Services

Udhyam Financial Services is a Technology led NBFC: a for-profit social enterprise, focused on solving financing challenges for micro and nano entrepreneurs and small & medium enterprises.

Our North star
- is enabling growth & resilience for the entrepreneurs we serve. We don't intend to become yet another lender. We see ourselves as enablers of growth.

We expect to do this by:

• Enabling Higher access : for people who may not have access
• Lower cost of credit : than exorbitant informal rates they might be paying
• Entrepreneur centric products designed keeping entrepreneur's needs at heart
• Faster decision making enabled by Technology & Data
• Financially viable models that can be widely adopted by others in the industry
• Productive use of capital with focus on improving business capacity & growth

UFS aims to find innovative solutions to financing challenges in a profitable fashion so that the industry starts focusing on this sector.

We intend to :

• Learn from the ground: from entrepreneurs, from money lenders & others
• Innovate by Experimenting & Iterating: create novel solutions, and improve them.
• Once we create impactful solutions, openly share our solutions to enable others to amplify impact.
• Partner with like minded service providers to provide more holistic solutions (risk management, savings, holistic growth, health etc)
• Build low cost and highly scalable solutions using technology, where MOS operations are technology-led. This will be a digital-first solution.
• Create impact, before we scale
• Build a company where the customers(entrepreneurs) love us & feel respected.
• Create a Non hierarchical & meritocratic culture.