Posted by WAM NY Marketing Committee
Report on Credit Risk and Delinquency Management Course
By Mary Lamptey
The Credit Risk and Delinquency Management course was a great opportunity for me to better understand my work as a Credit Officer and the opportunity couldn’t have come at a better time after 10 years working with ID Ghana FNGO as a Credit Officer. I’m proud to be the only Female Credit Officer in ID Ghana FNGO currently and the five day program will significantly improve the way I go about my work as a credit officer since the course ended.
Since I came back from the course, I have taken a new leaf towards the way I accesses each partner (as ID Ghana likes to call its beneficiaries as we want them to actively take part in the activities), such that before a partner accesses a loan, a household check is made on him/her to be sure of residence. Then he/she goes through a thorough screening process so as to have a fair knowledge of the partner in terms of character; - whether morally sound toward willingness to repay loan or not, capacity;- whether cash flow of business can service loan repayment or not, capital;- to know assets and liability of the business if it will aid partner positively or negatively and also condition;- to find out the state of the market, whether business is a growing one that can be easily sold out so that repayment is made easily.
"I give a big “Thank You” to my Sponsors WAM-NYC for awarding me the scholarship for this life-changing experience course."- Mary Lamptey
I also try as much as possible to spend time to communicate efficiently to partners in the better language they will understand and assist them to understand the loan contract before accessing the loan.
Immediately after disbursement, I start my monitoring process to ensure that funds are used only for the purpose stated in the partners application form so that the money is not diverted into other sources it was not intended for. Hitherto, I do monitoring when partner tend to show a sign of default.
I have also develop a personal mechanism from the course that will aid qualified partners to access loan within the expected time framed because delayed disbursement is one of the major causes of delinquency, in that fund received late is pushed into other purpose than the business itself.
My Branch Manager and Colleagues have started noticing changes in my way of doing things and I’m currently sharing my experience and ideas with them to enhance operational efficiency at branch. In April 2013, Management plans to organize a training program and I have been called upon to share my experience with the entire Field Officers of ID Ghana FNGO.
Overall, the course will continue to have a positive effect on me in terms of partner screening, assessment, partner tracking and monitoring to reduce credit risk and delinquency in other to achieve a better sustainability and to ensure ID Ghana’s positive social impact on partners’ life.
I will like on behalf of ID Ghana FNGO and I give a big “Thank You” to my Sponsors WAM-NYC for awarding me the scholarship for this life-changing experience course.
Miss Mary Odarkor Lamptey
WAM NY Marketing Committee.