About Alterfin
Alterfin is a Brussels-based cooperative that has been operating as a social investor since 1994. It raises capital in Belgium to invest in developing countries via microfinance institutions (MFIs) and organisations active in the smallholder sustainable agriculture value chains (SAOs).
The Alterfin team consists of 24 employees and 12 external consultants working in different countries across Latin America, Africa and Asia.
Context & position summary
The Credit Risk & Recoveries Manager position belongs to the Risk Department, composed of the Head of Risk (HoR), the Credit Risk Administration Manager and the Risk Analyst.
The Credit Risk & Recoveries Manager position involves responsibilities for the management of the Credit Risk of Alterfin’s portfolio, both in microfinance and agriculture. The Manager builds risk assessment models (for credit risk and for E&S risk management), defining and building policies, procedures and tools.
Initially supported by the CEO and the Head of Risk, the position directly manages events of defaults (EoDs), restructuring and workouts of troubled loans and credit lines. The Credit Risk & Recoveries Manager provides training in credit risk management for Investment Managers and complies, to a lesser degree, with field visits to support and train IMs or to manage more difficult cases.
The position reports directly to the HoR. Close and continuous coordination with the Impact and Legal Departments.
Your responsibilities and duties
Supporting the Head of Risk in strengthening a comprehensive risk framework.
- Update and development of relevant policies and procedures.
- Responsible for all technical aspects, development and implementation of credit risk management tools, systems, and analytics to enhance credit risk oversight and effectiveness.
- Define specific credit risk thresholds and KPYs for Alterfin’s portfolio.
- Analysis and management of Alterfin’s credit risk related to partner performance risk (ESG, financial, operational, etc.), country risk, and value chain risks. This will include setting and reviewing country limits, partner limits, sector limits, EC limits, relative limits, and collateral management.
Responsible for Events of Default Management, Restructuring and Workouts
- Responsible, with the support of the HoR, for the EoDs management and reporting.
- Directly manage restructurings and workouts, in close coordination with the Head of Risk.
- Actively participate and represent Alterfin in lender group meetings for restructurings and workouts.
- Actively participate in meetings with local consultants/lawyers to manage restructurings and workouts, in coordination with the Alterfin Legal team.
- Update Recovery Management on a fortnightly basis at the latest.
- Produce restructuring and workout proposals to be presented to the Alterfin’s Investment Committee for approval.
Responsible for Training on Credit Risk Management
- Provide credit risk management expertise, guidance and training to the Investment Managers.
- Provide recommendations on credit policies, underwriting criteria, and portfolio management strategies.
- Identify training needs of Investment Managers, develop content and format for training, and define a training plan (individual and group training).
- Perform on-site due diligence to train Investment Managers whenever needed.
Validation of the proposals to be submitted to the Alterfin Investment Committees
- In coordination with the Head of Risk, split reviews/validation of the proposals submitted to the Investment Committees, and conduct a comprehensive credit risk assessment.
- Review and validation of credit risk scoring.
- Identification of limits breached.
- Check of compliance versus investment policies and procedures.
External Involvment
- Networking with other credit risk managers.
- Participate in industry conferences.
Personal skills
- Methodical approach
- High level of professional and personal maturity allowing to work independently
- Taking initiatives
- Able to coordinate and to report to multiple stakeholders
- Good and proactive in communication
- Team player
Professional skills
- Excellent knowledge of risk management framework, and in particular credit risk
- Fluent in spoken English and French. Spanish is an asset
- Excellent analytical skills
- Experienced with Microsoft Excel
- Very good knowledge of both microfinance and sustainable agricultural sectors and risks
- Capable of conceptualising tools for risk management and reporting
- 8+ years of experience in Credit Risk or related role
Opportunities offered
- Work and grow with a Social Investor, pioneer in agriculture, with 30 years of experience in the sector, > EUR 110M portfolio, more than 120 partners in more than 30 countries in Asia, Africa and Latin America.
- Coaching in agriculture with ad hoc training and on-site visits to know partners, see different value chains, and assist IMs during due diligence.
- High level of flexibility in our work model.
Compensation & Benefits
To be discussed during the meeting with our HR Manager.
How to apply?
Please submit your application, including a cover letter and CV, to jobs@alterfin.be with the job title in the subject line by 27 June 2025. Only shortlisted candidates will be contacted for interviews.
At Alterfin, we hire based on skills and talent, regardless of gender, sexual orientation, religion, origin, or disability.
