Loan Verification Officer Job at PalmPay

PalmPay is an Africa-focused fintech firm, launched in 2019. PalmPay is a mobile payments platform that offers a number of financial services.

We are recruiting to fill the position below:

Job Position: Loan Verification Officer

Job Location: Ogun 

Description
As we scale, you will play a mission-critical role in safeguarding our credit operations. As a Loan Verification Officer, you will:


  • Conduct high-quality offline merchant verification visits across assigned LGAs.
  • Validate the authenticity, capacity, and operational integrity of merchants requesting loans.
  • Ensure accurate documentation, geo-tagged evidence, and risk assessments to support credit decisions.
  • Monitor post-disbursement merchants to confirm loan utilization and repayment readiness, reducing early-stage defaults.

Key Responsibilities
Field Verification & Business Validation:

  • Conduct in-person merchant verification visits across designated LGAs.
  • Confirm physical store presence, business category, operational capacity, staff activity, inventory levels, and trading patterns.
  • Validate merchant identity and operations through live observations and structured interviews.

Document Collection & Evidence Capture

  • Collect and upload required documents for verification.
  • Ensure all information submitted is accurate, complete, and compliant with internal/CBN standards.

Merchant Engagement & Loan Assessment:

  • Engage merchants to understand business model, cashflow, loan purpose, and capacity.
  • Confirm alignment between the requested loan amount and the merchant’s operational reality.
  • Educate merchants on disbursement conditions, repayment expectations, and responsibilities.

Risk Identification & Reporting:

  • Prepare clear, timely, and factual verification reports for the Credit Team.
  • Flag high-risk cases and recommend follow-up actions or additional checks where needed.

Post-Disbursement Monitoring:

  • Revisit merchants who have drawn down loans to:
    • Confirm actual utilization of funds ? Assess repayment readiness and early risk signals
    • Identify red flags such as weak sales, reduced inventory, operational decline, or evasive behavior
  • Submit revisit reports within required timelines to strengthen early-warning systems.

Your Profile Experience

  • Education: OND / HND / Bachelor’s Degree in Business, Finance, Accounting, Economics, or related field.
  • 1–2 years as a Field Loan Officer, Verification Officer, Merchant Onboarding Officer, or similar role in a fintech, microfinance, or digital lender.
  • Technical Skills: Familiarity with mobile verification tools, geo-tagging, documentation standards, and simple reporting dashboards.

Core Competencies:

  • Strong attention to detail
  • Excellent observational and communication skills
  • High integrity and sound judgment

Risk-aware mindset with knowledge of lending and MSME dynamics Work Style:

  • Comfortable with extensive field travel
  • Self-driven and accountable
  • Thrives in fast-moving, execution-heavy roles

Salary
N200,000 per month (50k Transportation) and Sales Commission based on Team's performance.





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