The Senior Credit Underwriter independently evaluates loan applications across all product lines, makes documented lending recommendations within delegated authority, and provides quality control over work produced by Junior Underwriters.
The role carries direct accountability for credit memo quality, regulatory compliance of underwriting decisions, and portfolio-level risk discipline within the Credit department.
Key Responsibilities
Underwriting & Credit Assessment:
Independently review and analyze loan applications across all product types for creditworthiness
Conduct full financial analysis: cash flow assessment, debt service coverage ratio (DSCR), and repayment capacity
Interpret credit bureau reports and resolve discrepancies or adverse findings with applicants/Sales
Calculate and verify key ratios (DSCR, LDR exposure, single obligor limits) against policy thresholds, including KYC tier transaction limits
Prepare and finalize credit memos/appraisal reports with clear, well-reasoned recommendations for approval, decline, or referral
Review and approve/return work prepared by Junior Underwriters before escalation
Risk & Compliance:
Ensure all loans under review comply with CBN MFB prudential guidelines, AML/CFT requirements, and internal credit policy
Identify and investigate red flags, inconsistencies, or fraud indicators; escalate confirmed concerns to the Head of Credit Admin and Compliance
Monitor obligor concentration and portfolio-level exposure limits for assigned segments
Recommend exceptions or policy deviations through proper approval channels with documented justification
Documentation, Reporting & Mentorship:
Ensure collateral documentation (where applicable) is properly perfected and filed before disbursement approval
Confirm conditions precedent are fully met prior to recommending disbursement
Provide regular reports on underwriting turnaround time, approval/decline rates, and portfolio quality for assigned book
Mentor and review the work of Junior Underwriters, providing structured feedback on credit memo quality
Liaise with Legal/Compliance on documentation and perfection requirements
Support audits and regulatory examinations with documentation and explanation as required
Requirements
Bachelor's Degree in Finance, Accounting, Economics, Banking, or related field; relevant credit/risk certification an advantage
4 - 7 years' experience in credit analysis/underwriting, with at least 2 years in microfinance, retail banking, or fintech lending
Strong working knowledge of the CBN MFB regulatory framework, prudential guidelines, and AML/CFT requirements
Advanced Excel proficiency; experience with loan origination/core banking systems required
Demonstrated track record of sound credit judgment and low memo rejection/rework rate
Strong written communication skills for credit memo and appraisal report writing
Key Competencies:
Sound, independent credit judgment
Strong risk awareness and ability to identify subtle red flags
Process discipline under turnaround time pressure
Coaching and review capability for junior staff
Integrity and resistance to undue influence in lending decisions