Head, Payroll Lending
Job Description
Job Title – Head, Payroll Lending
Department – Business Development
Reporting To – Chief Marketing Officer
Location – Wuse Zone 2, Abuja
Employment Type – Full-Time
Remuneration – Competitive (Subject to experience and skills)
Role Summary
The Head, Payroll Lending is responsible for driving revenue growth through the development, marketing, and expansion of the Bank’s payroll lending portfolio.
This role focuses on originating high-quality risk assets through structured salary-deduction arrangements (deduction at source) with public and private sector employers, while safeguarding the Bank’s brand value, reputation, and corporate identity.
The incumbent will lead market penetration initiatives, establish institutional partnerships, and ensure portfolio performance in line with the Bank’s risk appetite and profitability targets.
Key Responsibilities
1. Revenue Generation & Portfolio Growth
• Develop and execute a strategic plan to grow the payroll lending portfolio in line with approved budgets and targets.
• Drive deposit mobilisation and risk asset creation through structured payroll lending products.
• Ensure consistent growth in interest income and fee-based revenue from payroll-related products.
• Monitor portfolio yield, cost of funds, and overall profitability of the payroll lending unit
2. Market Development & Institutional Acquisition
• Identify and onboard public sector parastatals, government agencies, and ministries for payroll lending partnerships based on deduction-at-source arrangements.
• Identify and engage credible private sector companies for structured payroll lending opportunities.
• Negotiate Memoranda of Understanding (MOUs) and service-level agreements with employers to facilitate seamless loan deductions.
• Build and maintain strategic relationships with HR departments, finance units, and key decision-makers within partner institutions.
3. Sales & Brand Representation
• Promote the Bank’s payroll lending and related investment products to prospective customers within partner institutions.
• Ensure all marketing and engagement activities align with the Bank’s brand standards, corporate identity, and ethical guidelines.
• Represent the Bank professionally at corporate presentations, financial literacy sessions, and employer engagement forums.
• Drive cross-selling opportunities, including savings, deposits, and other retail banking products.
4. Risk & Portfolio Quality Management
• Ensure loans are originated in compliance with the Bank’s credit policy and risk acceptance criteria.
• Monitor portfolio performance, including delinquency trends, Portfolio at Risk (PAR), and Non-Performing Loan (NPL) ratios.
• Work closely with Credit Risk and Collections teams to ensure proactive portfolio monitoring and early recovery actions.
• Ensure strict adherence to regulatory guidelines and internal approval processes.
5. Team Leadership & Performance Management
• Lead, mentor, and supervise payroll lending officers and sales executives.
• Set clear sales and risk targets for team members and monitor performance.
• Drive a high-performance culture anchored on accountability, professionalism, and results.
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Qualifications & Experience
• Bachelor’s degree in Finance, Banking, Economics, Business Administration, or a related field.
• Minimum of 5–10 years’ experience in retail lending, consumer banking, or payroll lending, with at least 3–5 years in a managerial role.
• Proven track record in deposit mobilisation, generating risk assets, and managing employer-based lending schemes.
Key Competencies & Skills
• Strong business development and revenue generation capability.
• In-depth understanding of payroll lending structures and deduction-at-source mechanisms.
• Strong negotiation and institutional relationship management skills.
• Solid understanding of credit risk assessment and portfolio management.
• Excellent presentation and communication skills.
• Strategic thinking with strong execution capability.
• High level of integrity and brand-conscious professionalism.
Key Performance Indicators (KPIs)
• Growth in payroll lending risk assets (monthly/annual).
• Portfolio quality (PAR, NPL ratio, recovery rates).
• Number of new employer partnerships onboarded.
• Revenue and profitability from payroll lending segment.
• Cross-sell ratio of investment and retail products.
• Turnaround time for loan processing and disbursement.