Credit Risk Analyst Job Vacancy in Mufulira, Zambia – Banking & Financial Services

Job Description

Position: Credit Risk Analyst

Company: Zambia National Commercial Bank (ZANACO)

Location: Mufulira, Zambia

Experience: 3-5 years in credit risk analysis

Education: Bachelor’s degree in Finance, Economics or related field

Employment Type: Full-time

Industry: Banking & Financial Services

Department: Credit Risk Management

Salary: SSP 120,000 – 180,000 per month

Vacancies:1

Company Overview

Zambia National Commercial Bank, popularly known as ZANACO, is the largest commercial bank in Zambia with a legacy spanning over five decades. As a leading financial institution, ZANACO offers a comprehensive suite of banking services, including retail banking, corporate banking, treasury, and digital solutions. The bank’s commitment to financial inclusion, innovative technology, and sustainable growth has positioned it as a trusted partner for individuals and businesses across the nation. With a robust presence in over 100 branches and a growing digital footprint, ZANACO continues to drive economic development and create meaningful career pathways for Zambia Jobs seekers. The organization prides itself on a culture of integrity, collaboration, and continuous learning, making it an attractive destination for professionals seeking long‑term career growth in the banking sector.

Job Overview

The Credit Risk Analyst will play a pivotal role in assessing the creditworthiness of corporate and retail borrowers, ensuring that ZANACO maintains a healthy loan portfolio while supporting the country’s economic expansion. This role involves rigorous analysis of financial statements, market trends, and risk indicators to provide actionable insights to senior management. The analyst will collaborate closely with relationship managers, underwriting teams, and the broader risk management function to develop risk mitigation strategies that align with regulatory standards and ZANACO’s risk appetite. For more information about ZANACO and its commitment to career development, visit Zambia Jobs Search. This position offers a unique opportunity to contribute to a leading bank’s strategic objectives while advancing your professional expertise in credit risk.

Key Responsibilities

• Conduct comprehensive credit assessments for loan applications, including financial statement analysis, cash flow modeling, and industry benchmarking.
• Prepare detailed credit risk reports and present findings to credit committees and senior management.
• Monitor existing loan portfolios, identify early warning signs of credit deterioration, and recommend corrective actions.
• Collaborate with relationship managers to structure loan terms that balance client needs with risk mitigation.
• Maintain up‑to‑date knowledge of regulatory requirements, Basel III standards, and ZANACO’s internal risk policies.
• Assist in the development and refinement of credit scoring models and risk rating methodologies.
• Participate in periodic stress testing and scenario analysis to evaluate portfolio resilience.
• Support the preparation of regulatory filings and internal audit documentation related to credit risk.

Required Skills

• Strong analytical abilities with proficiency in financial modeling and ratio analysis.
• Excellent written and verbal communication skills for report preparation and stakeholder presentations.
• Proficiency in credit risk software tools and Microsoft Excel; familiarity with SAS or R is a plus.
• Attention to detail and ability to work under tight deadlines while maintaining high quality standards.
• Solid understanding of Zambian banking regulations and international risk frameworks.
• Team‑oriented mindset with the ability to collaborate across functions.

Education

A Bachelor’s degree in Finance, Economics, Accounting, Business Administration, or a related discipline is required. Professional certifications such as CFA, FRM, or CPA are advantageous but not mandatory.

Experience

Applicants should have 3‑5 years of hands‑on experience in credit analysis, preferably within a commercial banking environment. Experience with corporate lending, SME financing, or retail credit portfolios will be considered valuable.

Salary

The successful candidate will receive a competitive salary ranging from SSP 120,000 to SSP 180,000 per month, commensurate with experience and qualifications. Performance‑based bonuses and other incentives are part of the remuneration package.

Benefits

• Comprehensive health insurance covering medical, dental, and vision.
• Retirement savings plan with employer contributions.
• Paid annual leave, sick leave, and public holidays.
• Employee assistance program and wellness initiatives.
• Opportunities for career advancement and internal mobility.

Training

• On‑boarding program covering ZANACO’s risk policies, systems, and compliance framework.
• Continuous professional development through workshops, webinars, and sponsorship for relevant certifications.
• Mentorship from senior risk managers to accelerate skill growth.

Working Environment

ZANACO offers a dynamic, inclusive, and technology‑driven workplace located in Mufulira’s modern business district. Employees benefit from collaborative spaces, state‑of‑the‑art IT infrastructure, and a culture that encourages innovation and ethical conduct. The bank’s commitment to diversity and work‑life balance ensures a supportive environment for all staff.

Application Process

Interested candidates should submit their updated CV and a cover letter outlining their suitability for the role through ZANACO’s online career portal. Applications will be reviewed on a rolling basis, and shortlisted candidates will be contacted for interviews. Please ensure all documents are in PDF format.

Equal Opportunity Statement

ZANACO is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees, regardless of gender, race, religion, disability, or sexual orientation. Our hiring practices reflect our dedication to fairness and merit‑based selection, supporting the broader goal of Employment in Zambia and fostering Career Opportunities in Zambia.