SAGICOR FINANCE INC.
POSITION DESCRIPTION & PERFORMANCE STANDARDS
Company: Sagicor Finance Inc.
Position Title: Junior Loans Officer
Department: Lending
Reports To: Operations Manager
Starting Month: October




NATURE & SCOPE OF FUNCTIONS:
To recommend loan applications for approval; to maintain appropriate records and to produce accurate and timely reports for the effective and efficient performance of the company.
OUALIFICATIONS & EXPERIENCE REOUIRED:
A Bachelor’s degree in Management, Finance or Accounting and at least 3 years’ experience in a Banking environment or in a similar position. Previous management experience.
SKILLS & OTHER ATTRIBUTES:
Good analytical, interpersonal, customer service and communication skills; computer literate.
Major Responsibilities
1. To interview and recommend applications for loans and leases at Sagicor Finance.
SATISFACTORY PERFORMANCE WILL HAVE BEEN ATTAINED WHEN:
a. Appointments are scheduled and applicants are interviewed according to established standard interview questions.
b. Applicants’ credit history is verified prior to loan approval
c. All documentation is appropriately completed within the time frame established.
d. Applications are referred to the Operations/General Manager and/or Credit Committee for approval.
e. All required documentation is received and verified prior to submitting application for approval.
2. To respond to telephone enquiries on loans and leases in a timely manner.
SATISFACTORY PERFORMANCE WILL HAVE BEEN ATTAINED WHEN:
a. All queries are provided with the information requested.
b. All queries are advised of the documentation required to process the application.
c. Sagicor Finance’s portfolio of loan and lease products are promoted whenever possible.
3. To authorize the disbursement of funds for loan and lease applicants.
SATISFACTORY PERFORMANCE WILL HAVE BEEN ATTAINED WHEN:
a. All documentation is completed and is signed correctly.
b. Down payments and fees are received in the correct amounts
c. All security and any required documentation is in place prior to authorizing the disbursement of funds.
d. The accuracy of all correspondence generated with regard to the disbursement of loans and leases is verified.
4. To ensure that all security is adequately insured.




SATISFACTORY PERFORMANCE WILL HAVE BEEN ATTAINED WHEN:
a. All Loan documents (i.e.: Mortgage Bills of Sales, Pro-notes, Hypothecary Obligations, lease agreements) and all other tangible security is adequately insured.
b. Sagicor Finance’s interest is noted on all respective policies.
c. All loan document agreements are prepared for approved facilities and are signed prior to the delivery of documents.
5. To initiate action and follow up on all delinquent loan, lease and non-accrual accounts.
SATISFACTORY PERFORMANCE WILL HAVE BEEN ATTAINED WHEN:
a. Delinquent notices are sent to customers on time and in the manner prescribed in the Operations Manual.
b. Correspondence is initiated with Attorneys at law, Bailiffs, Collection Agents and other individuals/companies as required.
c. All security is repossessed and disposed of in the event of default.
d. The monthly spreadsheet of loan arrears is received from the Administrative Assistant within 5 business days of the month end, accuracy of information is verified, comments are added and it is returned to the Administrative Assistant no later than8 business days after month end.
e. The quarterly classification spreadsheet of loan anears is received from the Administrative Assistant within 5 business days of the month end, accuracy of information is verified, classifications are added, and security values are updated before returning to the Administrative Assistant no later than 8 business days after month end.
f. Supervision and guidance is provided to staff members assigned to assist with the follow up of delinquent accounts.
g. A listing of lease receivables is reviewed monthly in order to follow up on delinquent accounts.
6. To maintain control of the Leasing Portfolio.




SATISFACTORY PERFORMANCE WILL HAVE BEEN ATTAINED WHEN:
a. Appointments are set for the interview of prospective applicants
b. Lease agreements are prepared and are executed in a timely manner
7. To perform an annual review of loan accounts
SATISFACTORY PERFORMANCE WILL HAVE BEEN ATTAINED WHEN
a. Review sheets are completed in the manner prescribed for at least 90% of the portfolio assigned.
b. Correspondence is initiated to request up to date financial information where relevant.
c. Accounts are classified according to the Financial Institutions Act.
d. The master review list is updated with (1) the review date; and (2) the Classification Rating.
8. To perform any other related duties as directed by the Operations/General Manager.
SATISFACTORY PERFORMANCE WILL HAVE BEEN ATTAINED WHEN:
a. Any related duties as requested by the Operations/General Manager, are completed on a timely basis.
b. Support is provided to other members of the Administration department as required.
c. All assignments are carried out to agreed standards.
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