The OPEC Fund for International Development is a multilateral development finance institution established in 1976. Our 12 Member Countries are: Algeria, Ecuador, Gabon, Indonesia, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, the United Arab Emirates, and the Bolivarian Republic of Venezuela.
We are recruiting to fill the position below:
Job Title: Loan Management Officer
- The Loan Management Officer is responsible for planning and executing disbursements, issuing collection and settlements, posting loan repayments, interest income, and other relevant fees, non-performing loans, and maintaining accurate records of transactions in the loan accounts, all in accordance with the institutional strategy and framework.
Duties and Responsibilities
Monitoring and Review:
- Reviews and validates financial terms and conditions of loans, guarantees and grants.
- Ensures timely and accurate update of data pertinent to loan terms and conditions in the information systems; prepare loan-billing statements for front-end fees and other origination fees.
- Verifies the application of arrears sanctions in accordance to the Fund’s policy.
- Reviews withdrawal applications to ensure compliance with the Fund’s disbursement procedures and contractual obligations prior to payment.
- Initiates the execution of outgoing payments for loan disbursements, equity investments, and grants.
- Verifies that disbursements are promptly and correctly posted in the information system; prepares loan statements, and advice on debit/credit, among others, where necessary, for use by the borrowers.
- Determines applicable interest rate for floating rate loans and issues interest rate setting notice.
- Completes periodic reconciliation of SAP/CML loan subsidiary accounts with the general ledger, as well as follow up on all outstanding items.
- Manages the issuance, amendment and cancellation of reimbursement guarantees to commercial banks in consultation with the Fund’s General Counsel & Legal Services and Operations Departments.
- Analyzes, reviews, and timely issues loan claim letters to borrowers.
- Tracks repayments due and reconcile allocation of incoming payments through Fund’s accounts and the respective postings in the relevant loan account registry.
- Identifies follows up and reports loans in arrears.
- Prepares standard and ad-hoc financial reports.
- Coordinates with relevant departments, units and officers to ensure the correctness and consistency of data in the information system.
- Cooperates with the Operations Departments to ensure that the impact of new financial products on financial operations is duly considered prior to implementation.
- Participates in cross-departmental projects.
Qualifications and Experience
- Master’s Degree in Finance / Business, majoring in Accounting, Financial Control, Business Administration or other relevant fields
- Preference for a recognized accounting / finance certification such as the CA or CPA
- A minimum of 5 years relevant professional experience
- Preferably 2 – 3 years of experience in an international development institution
- Fluent in English. Good working knowledge of French, Arabic, German or Spanish is an added advantage.
- Strong analytical thinking: Ability to use complex analytical techniques to break down problems into pieces and see the complex relationship among them, develop alternatives and calculates the cost/benefit analysis.
- Team player & demonstrate leadership: ability to value and encourage other members to actively participate in the team
- Ability to define priorities and set targets, to take decisions based on these and to evaluate the effectiveness of the decisions taken
- Knowledge of financial accounting; knowledge of exchange rate policies; knowledge of taxation and the design of fiscal regimes for resource extraction
- A good understanding of the Fund’s operations (particularly the areas of public and private sector, grants operations and trade financing)
- Proven track record of debt relief and concession issues & put it into excellence in execution and performance
- Familiar with SAP-CML Enterprise Resource Planning (ERP) systems with a high degree of integration.
Method of Application
Interested and qualified candidates should:
Click here to apply online