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Company: VENTURE Credit Union

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Job Ref.: Job

Job Title: Verification Officer



Job Type: Permanent full-time

Job description:

The Verification Officer will be responsible for the detail reviewing of the Member Service Representatives (MSR) and Loan Officers daily processing for the organization. The position examines daily all work received for any inconsistencies and noncompliance with policies and procedures for the related functions.


Loans Verification

  1. Receiving and  reviewing  of  all  Loans  and  associated  transactions  in  ensuring  all  relevant supporting documents are attached by Loans Officer and Processing Technician.
  2. Review of all processed Loan applications/documentation for accuracy and compliance with associated policy and procedure.
  3. Loan Log – Accurate record keeping
  4. Generate Loans Booked report for reconciliation with Loans Disbursed and Loans received
  5. Preparation of a weekly Outstanding Report for monitoring and follow up of all outstanding items.
  6. Information verification  of  documents  provided  against  CruiseNet  –  member’s  personal credentials, loan purpose, loan criteria, terms and agreement, Delegation of Authority, securities collateral
  1. Analyse and report data in identifying unusual trends based on lending criteria and policy
  2. Preparation of exception log for missing, incomplete or inaccurate information being returned to the branch
  3. Verification of  documentation  by  affixing  the  verified  stamp  and  initialling  evidencing verification
  4. Preparation of  log  for  files  submitted  to  Document  Control  Department  with  relevant communication with the internal courier service for collection and delivery
  5. Provide alternate support to the MSR Verification Officer as deemed essential by the organization

MSR Verification

  1. Receiving and reviewing of all daily processed and associated transactions  in ensuring all relevant supporting documents are attached the Member Service Representatives/Processor
  2. Review all Source of Funds Declarations (SOFDs), Cash & Cheque Deposits, Withdrawals, End of Day balancing, LINX transactions, Disbursed Cheques.
  3. Verification of  transactions posted  against Core Banking System to ensure commensuration of information
  4. Maintenance of Verification Log for tracking transactions, errors and SOFDs for submission of data on a weekly, monthly or quarterly frequency as required
  5. Analyse and report data in identifying unusual trends based on MSR/other related processing procedures criteria and policy
  6. Maintenance of a log to track returns from the branches/departments of corrections and non- submissions
  7. Management of daily and year to date Cash Overage / Cash Shortage Report
  8. Retrieval of Transaction Vouchers requested by the Branches/departments i.e. Supervisors, Managers.
  9. Provide alternate  support  to  the  Loans  Verification  Officer  as  deemed  essential  by  the organization

Qualifications required:

Education and Experience:

  • Possession of a GCE / CXC Ordinary Level Certificate of passes in five (5) subjects inclusive of English Language,
  • GCE Advanced Level Accounting, Diploma in Business, Accounting or completion of Level I ACCA and / or any other similar qualification
  • Minimum of 3 years’ experience in banking, credit and loan reconciliation or any equivalent
  • Member Service Excellence
  • Working knowledge of MSR, Loans and related processing functions

This vacancy is closed.

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