Credit Risk Officer Job Vacancy in Kafue, Zambia – Banking & Financial Services

Job Description

Position: Credit Risk Officer

Company: Zambia National Commercial Bank (ZANACO)

Location: Kafue, Zambia

Experience: 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 150,000 – SSP 250,000 per month

Vacancies:1

Company Overview

Zambia National Commercial Bank, popularly known as ZANACO, is the largest indigenous commercial bank in Zambia, offering a comprehensive suite of banking products and services to individuals, SMEs, and large corporates. With a strong presence across the country and a reputation for financial stability, ZANACO plays a pivotal role in driving economic growth and financial inclusion. The bank’s commitment to innovation, risk management, and customer centricity makes it a premier employer for finance professionals seeking challenging and rewarding career opportunities. As part of its expansion strategy, ZANACO is strengthening its credit risk function to support sustainable lending practices and to safeguard its asset quality. This role offers a unique chance to contribute to the bank’s mission while advancing your career in a dynamic, supportive environment. The position is based in Kafue, a rapidly developing industrial hub that offers a blend of urban amenities and a vibrant community, making it an attractive location for professionals seeking both career growth and quality of life.

Job Overview

The Credit Risk Officer will be responsible for assessing, monitoring, and managing credit risk across ZANACO’s loan portfolio. Reporting to the Head of Credit Risk Management, you will work closely with relationship managers, underwriting teams, and senior executives to ensure that credit decisions align with the bank’s risk appetite and regulatory requirements. Your analytical expertise will be essential in developing risk models, conducting portfolio reviews, and providing actionable insights that drive prudent lending practices. This role is integral to ZANACO’s broader strategy of maintaining a healthy loan book while supporting economic development in Zambia. The successful candidate will also engage with external auditors and regulators, ensuring compliance with Basel III standards and local banking regulations. By joining ZANACO, you will be part of a forward‑looking institution that values professional development, ethical standards, and a collaborative culture.

Key Responsibilities

• Perform comprehensive credit risk assessments for new loan proposals, including financial statement analysis, cash flow modeling, and industry risk evaluation.
• Monitor existing loan portfolios, identify early warning signals, and recommend corrective actions to mitigate potential defaults.
• Develop and maintain credit risk rating models, stress‑testing frameworks, and risk dashboards for senior management.
• Collaborate with relationship managers to structure credit facilities that balance client needs with risk parameters.
• Prepare detailed risk reports and presentations for the Credit Committee and Board of Directors.
• Ensure compliance with Basel III, local regulatory guidelines, and ZANACO’s internal risk policies.
• Assist in the development of credit policies, procedures, and risk appetite statements.
• Participate in periodic portfolio reviews, credit audits, and external regulator examinations.
• Provide mentorship and training to junior analysts on credit risk methodologies.

Required Skills

• Strong analytical and quantitative skills with proficiency in financial modeling and risk assessment tools.
• In‑depth knowledge of banking products, credit underwriting standards, and regulatory frameworks.
• Excellent communication skills, both written and verbal, to convey complex risk concepts to diverse stakeholders.
• Advanced proficiency in MS Excel; experience with statistical software (e.g., SAS, R) or credit risk platforms is a plus.
• Ability to work independently, prioritize tasks, and meet tight deadlines in a fast‑paced environment.
• High ethical standards and a commitment to confidentiality and data integrity.

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 highly desirable and will be considered an advantage during the selection process.

Experience

Minimum of five (5) years of experience in credit risk analysis, loan underwriting, or risk management within a commercial banking environment. Prior exposure to corporate or SME lending, as well as experience with regulatory reporting, will be viewed favorably.

Salary

The compensation package ranges from SSP 150,000 to SSP 250,000 per month, commensurate with experience, qualifications, and performance. In addition to the base salary, ZANACO offers performance‑based bonuses, health insurance, pension contributions, and other employee benefits.

Benefits

• Competitive health and medical coverage for you and your dependents.
• Retirement savings plan with employer matching contributions.
• Annual performance bonus linked to individual and bank performance.
• Paid annual leave, sick leave, and public holidays in accordance with Zambian labor law.
• Employee assistance program and wellness initiatives.

Training

• Comprehensive onboarding program covering ZANACO’s risk framework, systems, and compliance standards.
• Access to continuous professional development courses, workshops, and industry conferences.
• Support for obtaining professional certifications such as CFA, FRM, or CPA.

Working Environment

ZANACO provides a collaborative, inclusive, and technology‑enabled workplace. Our Kafue office features modern facilities, secure data environments, and a culture that encourages knowledge sharing and innovation. Employees benefit from flexible working arrangements, a supportive leadership team, and a clear career progression path.

Application Process

Interested candidates are invited to submit their application through our online portal. Please visit Zambia Jobs Search and follow the instructions to upload your resume and cover letter. Applications will be reviewed on a rolling basis, and shortlisted candidates will be contacted for an interview.

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, age, disability, or sexual orientation. All qualified applicants will receive consideration for employment without regard to any protected characteristic.