Overview

FINCA Microfinance Bank (Tanzania)

FINCA MICROFINANCE BANK formed its first Village Bank in Mwanza in 1998 , bringing its model of group lending to Tanzania . In the years since , over a million customers have gained access to responsible financial products including credit , savings and money transfers . In January 2013 , FINCA Microfinance Bank began offering savings products to the public . This followed a historical event where FINCA became the first MFI to be granted a license by the Bank of Tanzania , allowing the institution to accept deposits from the public and to carry out banking services as a microfinance institution . The issuance of a license by the Central Bank was an important step toward financial inclusion in the country as it helped to bring tens of thousands of Tanzanians , mainly from rural areas , into the formal banking sector . Today , the breadth and reach of our responsible financial services continues to grow and evolve to meet new needs and new opportunities . FINCA Microfinance Bank has gone beyond traditional microfinance by leveraging the power of new technology , such as mobile phones and agent banking , to make banking more affordable and accessible . 56% of FINCA’s customers now transact through one of the 140 agents and 23% transact via mobile financial services . FINCA Microfinance Bank is the only bank that offers an opportunity for customer to open a Savings Account within five minutes using special tablets through the Bank’s remarkable innovation known as Digital Field Automation (DFA). As we look towards the future , FINCA Microfinance Bank will continue to improve our services . We are re-engineering and streamlining our credit and customer service processes to lower costs and to make it easier for clients to do business with us . We are fostering a culture of innovation , where all employees are encouraged to lead change .
FINCA believes that the future of expanding access to responsible financial services lies in both technological innovations and delivering an exceptional customer experience .

The Deputy CEO is responsible to support the CEO in the management of the Subsidiary , by assuming the following roles :

a) Direct supervision of the following functional departments of the subsidiary : Commercial , Credit , and HR .

b) Join the Management Board as a permanent member , and as such participate in the strategic management of the company .

c) Support the CEO in the development and execution of strategic plans .

In all his/her activities , s/he will be guided by the principle of good stewardship for FINCA and its mission , responsibility and accountability to FINCA and its authorized agents and bodies.In order to fulfill his/her tasks , s/he will provide best-practice leadership vis-à-vis the employees of the Subsidiary; s/he will manage and will adequately and efficiently employ human and other resources in the affiliate , as well as make adequate and efficient use of resources available within FINCA (FINCA International Headquarters , Regional office , other FINCA affiliates) and externally (outside FINCA).

ESSENTIAL DUTIES

The Deputy CEO is responsible for directly supervising all departments under direct supervision . The DCEO must assure that the support from the staff areas is comparable to the best service of similar firms in the open market , at a similar or lower cost for FINCA .

Also , the DCEO is responsible for attending to the CEO’s duties in situations when the CEO is prevented from doing this . He/she will :

  • Ensure high quality financial services to the clientele , and maximize outreach to the target group in a sustainable way ,
  • Assist in the implementation of best-practice corporate governance , management , organizational structure and procedures , staff development , financial management , and risk management principles .
  • Re-engineer existing credit products and develop new credit products :

 

  1. Existing credit products : minimize the total operational cost per loan for the whole credit cycle , and without increasing the present credit risk .
  2. New credit products : Develop credit products for new market segments , and new pre-approved credit programs for segments served with traditional credit products.Lead the adoption of new systems and processes to support the development and re-engineering of credit products : CRM (for loan applications and cross-selling), credit scoring , and data mining from domestic and third party client databases .

 

  • Ensure compliance with the Charter/bylaws of the Subsidiary; FINCA and affiliate policies , procedures , plans and agreements; decisions of affiliate governing bodies as well as headquarter and regional office; maintain good coordination with regional office , headquarters , and governing bodies ,
  • Mobilize funding resources in form of debt and/or grant capital : together with the CEO and the CFO , represent FINCA Tanzania at negotiations and due diligence processes , providing to partners a strategic overview of the business .
  • Promote FINCA Impact Finance in the country :
  • Ensuring FINCA’s Brand in the market is known and understood to represent friendly , warmth , and responsible service .
  • Build a network of contacts with leading corporate executives , government officials , and professional associations in the Congolese market , including ANIMF (National Association of MFIs), American Chamber of Commerce , FEC , etc .
  • Use the above mentioned network to : promote FINCA’s agenda , improve the awareness about FINCA Tanzania and FINCA Impact Finance , attract deposits from institutions and high income individuals , and to lead discussions for commercial agreements and strategic alliances .
  • Contribute to the development of the FINCA network .

SUPERVISORY RESPONSIBILITY

The DCEO is responsible for the direct supervision of the functional departments whose managers are Commercial , Credit , and HR

COMPETENCIES

  • Visionary Leadership
  • Ethics
  • Strategic Thinking
  • Change Management
  • Delegation and Empowerment
  • Quality Management
  • Job Requirements

QUALIFICATIONS

  • Experience in commercial/retail banking : 8 years minimum , experience in credit : 4 years minimum ,
  • International experience in developing countries : 3 years minimum ,
  • Experience working in microfinance an asset , experience in setting up microfinance programs preferred , branch management exposure preferred ,
  • Risk Management experience required ,
  • Proven people management skills (with minimum of 5 direct reporting managers),
  • Exposure , and established interest , in working for poverty alleviation ,
  • Strategic planning exposure a must ,
  • Experience in cash flow projections and analysis of business models ,
  • High degree of computer literacy a must .

Education & Experience

  • Master’s degree (or equivalent) in related discipline required .
  • Language Skills
  • Fluency in English required .
  • Reasoning Ability
  • Strategic Thinking ,
  • Balanced between analytical and action oriented ,
  • Innovative ,
  • Strong management in volatile and uncertain scenarios .
  • Computer Skills
  • Broad understanding of core banking systems
  • Broad understanding of new technologies and their impact on retail banking : mobile banking , internet banking .

KEY DELIVERABLES

Key deliverables for the position include :
a) Achievement of strategic goals such as : Creation and update of long term (5 years or longer) strategic business plans , closing of strategic partnerships , lead the launch of new business lines , re-engineer existing credit products , develop pre-approved credit programs , achieve long term risk mitigation goals .
b) KPIs including : contribution to Big 5 , and direct responsibility for KPIs of the functional areas under his / her control .

KEY RELATIONSHIPS

a) With all functional mangers in the subsidiary
b) With other Management Board members; promoting a strong team spirit
c) With Subsidiary’s Board members
d) With FINCA International mangers
e) With top managers of organizations in the private sector (NGOs , for profit corporations) and public sector (Central Bank , Tax authorities , Judges , Ministers .).

TRAVEL REQUIREMENTS
Availability to travel up to 25% of thier time .

To apply for this job email your details to vicent@ajiraleo.co.tz