DUTIES AND RESPONSIBILITIES OF A LOANS CLERK IN A SACCO SOCIETY

For those aspiring to work in a Sacco Society, these are the main duties and responsibilities of a loans clerk:
(a) Maintain records of members’ loan applications and approvals.
(b) Scrutinizes loan application forms and agreements to ensure they give accurate information and other particulars.
(c) Guides board of directors meeting and advises them on the loan policy, defaulted loans and recovery methods from the guarantors.
(d) Advices the society on amount of loan to be recovered from each member.
(e) Ensures loan transactions are posted to members’ account and computation of interest earned by each member and society is done as necessary.
(f) Reconciles loans accounts to ensure postings are correctly done.
(g) Attends loans committee meetings.
(h) Ensures adequate supply of stationery.
(i) Ensures sample checking of the correctness of interest calculations on loans and act upon discrepancies discovered.
(j) Follow up list overdue loans and debts and ensure that proper recoveries are made.
(k) Carry out any other duties related to credit administration as instructed by the senior management.
(l) Appraise loans applications before they are forwarded to the General Manager.
(m) Advise the senior manager on defaulting of loans and means of recoveries.
(n) Compute defaulted loans, reveal how much is defaulted and the number of defaulters.
(o) Serve guarantors with letters on defaulted loans.
(p) Maintain records of each members’ loan application and approval, have knowledge of how much is loaned each month and the number of loanees.
(q) Ensure adequate supply of stationery in the department.
(r) Enter necessary data in the loan register
(s) Attend approval of loans by the credit committee.
(t) Ensure that there is proper recovery of loans through updating of statements.
(u) Compute capitalized interest on defaulted loans.
(v) Ensure that refund of loan is properly computed.
(w) Delegates duties and responsibilities in the department
(x) Carry out any other duties related to loans as instructed by the senior manager from time to time.

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3 Responses

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  3. […] Duties and Responsibilities of a Loans Clerk in a Sacco Society (funnyardstick.wordpress.com) […]

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