Credit Administration Officer
Reports To: Regional Manager of Credit Administration, Africa & Asia
Job Type: Full-time, non-exempt
Region: East Africa
Location: Nairobi, Kenya
Start Date: Immediately
Contact: Please apply by using the form below.
About Root Capital
Root Capital invests in the growth of agricultural enterprises so they can transform rural communities. These businesses purchase crops such as coffee, cocoa, or grains from smallholder farmers. With growth, they become engines of impact that can raise incomes, create jobs, empower women and young people, sustain peace and preserve vulnerable ecosystems. We supply these businesses with vital resources: access to capital, trade and technical partners, financial training and conservation practices. We work in hard-to-serve geographies where others don’t. To date, we’ve distributed $1.4 billion to improve the lives of over six million people in farming communities.
Headquartered in Cambridge, Massachusetts, Root Capital currently has associated offices in Costa Rica, Mexico, Nicaragua, Peru, Senegal, and Kenya.
The Officer’s primary function is to close loans and loan amendments that have been approved by Root Capital in accordance with approved loan closing policies and procedures. Prior to closing, s/he will ensure that loans submitted for approval have cleared a KYC/AFT compliance check, and that proposed terms and conditions comply with internal policy. S/he will also support Root Capital staff servicing the loans to ensure that active loans are disbursed in accordance with the established terms and conditions and to ensure that notifications being sent to Root Capital borrowers are accurate. In addition, s/he will be responsible for ensuring the accuracy and completeness of electronic credit files and the security of all physical documentation for loans in the portfolio of his/her assigned sub-region. S/he will also be responsible for coordinating the drafting and registration of security documents with external legal counsel in the countries for which s/he is responsible in the sub-region of East Africa.
General Support in Loan Documentation and Closing (50%)
- Review approved terms and conditions to ensure accuracy and policy compliance
- Ensure all necessary support documentation (ie. licenses, certifications, statutory and constitutional documents) are received from clients and are current, valid and correctly stored in credit files.
- Draft and/or review all loan and related security documents, often using internal and pre-approved templates
- In coordination with the Regional Manager of Credit Administration, liaise with external council to draft and register loan and related security documentation, as needed.
- Prepare loan amendments and ensure they accurately reflect what was approved by the credit committee, comply with internal policies, and are structured such that they do not negatively impact the overall enforceability of the loan agreement in the relevant jurisdiction.
- Review final loan documentation with loan officers before a loan is closed and documentation is sent to borrowers for execution.
- Ensure documentation is correctly executed.
- Ensure loans are closed in compliance with the loan terms and policy and are properly booked in the loan management system.
Preservation of Loan Documents and Files (5%)
- Ensure the loan data and documentation stored in Physical and Electronic Filing Systems are accurate, filed in accordance with credit file policy and are up-to-date for all loans in his/her assigned sub-region of East Africa.
- Ensure the physical security of all original loan documentation in assigned sub-region of East Africa.
Loan Servicing (25%)
- Draft all annexes, repayment instructions, amendments and other loan documents that may be required by the parties after a loan is closed and booked and prior to the loan being fully collected, as needed.
- Validate loan disbursements and ensure compliance with the terms and conditions established in the loan documents and Root Capital lending policy.
- In coordination with the Regional Manager of Credit Administration, collaborate closely with Treasury Operations, Internal and External Legal Counsel and Risk Monitoring Team to ensure that all notifications being sent to Root Capital borrowers in the sub-region are accurate.
- Ensure approved documentation exceptions are monitored and resolved within the time that has been agreed or is legally allowed.
- When applicable, ensure securities are fully perfected (which includes reviewing that signatures on documentation are complete, valid and duly verified) and that collateral is insured before full loan amount is disbursed.
- Bring to the attention of Regional Manager, changes in legislation or channel advice received on procedural improvements that help to ensure final loan documentation is enforceable in the relevant jurisdictions where RC operates.
Third Party Service Provider Administration (5%)
- In coordination with Regional Credit Administration Manger support efforts to seek and hire new third party service providers (lawyers, appraisers and monitors), as needed.
- Review invoices, coordinate approvals and ensure third party service providers are paid in timely fashion and in compliance with procurement policies.
- Maintain up-to-date databases of third party service providers for sub-region.
KYC Compliance (5%)
- Serve as a KYC/AFT Compliance Officer and perform KYC/AFT compliance checks on buyers and borrowers.
- Ensure KYC/AFT policies and procedures are complied with in East Africa.
Maintenance of Loan Document Templates and Credit Administration Manuals and Guides (5%)
- Collaborate with Credit Administration Regional Manager to ensure that Root Capital’s standard loan agreement templates utilized in assigned sub-region and locally drafted documents are updated to reflect any relevant revisions to credit policy and reflect learnings from recent legal opinions and questionnaires.
- Maintain up-to-date Lending Country Guides in East Africa that reflect any relevant revisions to credit policy, learnings from the lending and risk team, recent legal opinions, and questionnaires.
Procedure and Process Documentation and Improvement (5%)
- Contribute to the development, review and continuous improvement of lending policy and processes.
- Offer ongoing guidance to sub-regional lending team on credit structuring requirements, policy and procedural changes as they relate to the loan closing process.
Qualifications & Experience
- Bachelor’s degree with coursework in finance, accounting, preferred
- Certificates or coursework in finance, lending law or similar work experience and/or training, a plus
- Minimum 3 years of work experience, with at least one year of experience in loan document preparation and administration in the financial sector
- Familiarity with national and/or regional law relating to banking, credit, and conveyancing
- Advanced or skilled user of Microsoft Word and Excel
- Fluency in English required, French a plus, candidates with local Rwanda dialect encouraged to apply (Kinyarwanda);
- Self-motivated to work independently
- Evidence of a strong customer service commitment
- Strong organizational and communication skills with an ability to manage and accomplish multiple tasks on an agreed time-frame through effective prioritization of duties
- Demonstrates a strong desire for professional growth and eagerness to learn new skills
- Ability to work with a diverse team spanning several international offices, and a good sense of humor
- Commitment to Root Capital’s mission
- Attention to detail a must
- Must be authorized to work in Kenya