Chief Commercial Officer FINCA Microfinance Bank Limited Dar es Salaam, Tanzania
Job Type: Full-Time
Closing Date: 30th October 2023
Location: Dar es Salaam, Tanzania
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Job Description

The Chief Commercial Officer (CCO) is a member of the core Management Board with responsibility over FINCA’s Branch network including the staffing, products, and procedures related to this. Specifically, the CCO will drive the development and execution of expansion strategy that enables FINCA meets its outreach goals leveraging on developments in Alternative Delivery Channels. These will include utilizing, Agency Banking services, and Cashless Sales Branch and Mobile Banking services. In leading this process the CCO will be responsible for working with relevant teams in Operations, Banking Services, Risk and Compliance to ensure that the processes have relevant risk mitigation factors that enable FINCA provide Responsible Banking to its internal and external stakeholders at large. The CCO will strive to ensure that FINCA presents characteristics consistent with an ethos that will win stakeholder trust, responds to client needs and remain a key player in utilizing developments in alternate delivery channels to maintain operational efficiency and profitability. As a member of the Management Team/Board, s/he shares responsibility for the overall performance and activities of FINCA, and participates in making decisions on material issues.

ESSENTIAL DUTIES

  1. Direct Branch Expansion strategy. Strategically develops outreach and expansion plans. Identifies new markets, regions, and clients. Coordinates with COO and MB to grow the institution through careful expansion systems and plans.
  2. The CCO will lead the organization’s strategic management function in developing; implementing and evaluating cross-functional decisions relating to business expansion that will enable FINCA achieve its long-term objectives
  3. Participates in the negotiation of the major project initiatives with regards to Branch network expansion. Participate in the preparation of the business plans relating to business expansion including new strategic partnerships.
  4. Responsible for leadership teams in the Branch Network; specifically Regional Managers and Branch Managers. Sets annual performance targets considering profitability, quality, and efficiency. Utilizes SMART objectives. Involves staff, team and clients input and considers business, organizational and management structures as well as market, product offerings and contingency planning. Anticipate staffing needs, participate in recruitment efforts, and attract the right people in support of growth and outreach plans. Identify, mentor and develop high potential staff members for future management roles. Retain, motivate and maximize productivity of staff through effective leadership, mentoring, transparent communication, performance management, and career planning
  5. Working with the EXCO team and branch leadership establishes targets for effective outreach. Institutes performance and monitoring systems. Evaluates progress against business plan, budget, best practice and FINCA standards. Provides appropriate appraisals and feedback. Ensures staff are motivated and organized to exceed performance targets. Motivates, nurtures, and develops staff. Trains, coaches, encourage, and mentors staff to deliver functions effectively and efficiently. Identifies and develops potential leaders and management. Considers career path and development planning. Promotes an atmosphere of teamwork encouraging a culture of equity and sensitivity to gender, class and other differences.
  6. Ensures Branches comply to internal control and regulatory policies, procedures and systems by reviewing, developing and continually improving policies, systems and processes to comply with lending, security, human resources and other internal and statutory requirements. Recommends appropriate changes to policy, procedures, and processes to ensure application of sound credit and risk management.

Strategic Leadership and Management for the Organization

  • As a member of the Management Team/Board, participate in FINCA general management as defined by the Charter and the Regulation on Management Team/Board (if existing)
  • Be informed about all important activities and developments at FINCA
  • Keep all Management Team/Board members informed about relevant issues/developments in FINCA’s operations
  • Present relevant “Operations” issues to the Management Team/Board for information, discussion, decision making
  • Participate/vote in decision-making on relevant “Operations” and “Non-Operations” issues
  • Together with the EXCO members, direct the preparation of the operations plans and budgets
  • Monitor the implementation of operational, financial and institutional development plans

Develop and implement adequate performance reporting

JOB REQUIREMENTS

Personnel Specifications:

Knowledge & Education:

– Desirable: Masters Degree in Business, Finance or Economics

– Bachelor’s degree in Accounting, Finance, Economics or Business Administration required or equivalent work experience,

Job Skills:

– Experience in developing and implementing strategic/operational plans for financial institutions,

– Experience in branch network and expansion strategies

– Excellent organizational, planning, analytical and problem-solving skills,

– High level of customer service and strong willingness to work in the field,

– Strong business management and negotiation skills,

– Experience managing and motivating a large staff,

– Excellent interpersonal, communication and training skills,

– Excellent technical report writing skills and computer literacy,

– Fluency in regional/local language and English language

Customer Service

As the business leader, the CCO is responsible for delivering a superior customer experience across all FINCA service delivery channels. S/he ensures that the process of customer acquisition and service delivery across all branches and other service points is anchored on delivering a consistently superior customer experience. The CCO will for that matter strategize and plan to deliver operational service excellence and ensure that the branch workforce is capable, enabled and inspired to deliver on FINCA’s brand promise, for customer improved customer acquisition, retention and loyalty.

SUPERVISORY RESPONSIBILITY

  • Regional Managers
  • Channels Specialists
  • Relationship Managers

COMPETENCIES

Leading With Integrity

  • Reinforces our brand values through daily behaviour
  • Holds others accountable to ethical behaviour
  • Encourages full disclosure of mistakes
  • Confronts unethical behaviour quickly

Employee Engagement

  • Maintains a fulfilling work environment
  • Engages people based on their strengths
  • Mentors others to develop their skills
  • Sets clear and measurable goals
  • Provides feedback on performance regularly

Achievement Focus

  • Overcomes obstacles creatively
  • Consistently achieves business objectives
  • Recognizes and pursues opportunities
  • Takes calculated risks to achieve goals

Collaboration

  • Convinces others collaboration is a win-win
  • Holds people accountable to work together
  • Fosters mutual accountability to achieve results
  • Develops rapport throughout the Company

Responsible for Results

  • Takes responsibility for own actions
  • Manages others to focus on key priorities
  • Helps others overcome challenges
  • Balances urgency with attention to detail

Recruitment & Staffing

  • Makes quality hiring decisions
  • Forecasts staffing needs accurately
  • Follows Company hiring process
  • Demonstrates effective interviewing process

Financial Responsibility

  • Conserves organizational resources
  • Works within budget guidelines
  • Assesses ROI on expenditures
  • Adjusts allocations to take advantage of unplanned opportunities

Qualifications

  • MBA degree (or equivalent) in related discipline required
  • Banking 4 years minimum, 8 years preferred (commercial – retail)
  • Credit 2 years minimum, 4 years preferred
  • Risk Management experience
  • Branch Management exposure preferred
  • Proven people management skills (with minimum of 5 direct reports)
  • Exposure, and established interest, in working for poverty alleviation
  • Experience working in Microfinance an asset
  • Strategic planning exposure a must
  • Cash flow projections

LANGUAGE SKILLS

  • Fluency in English and Swahili

KEY DELIVERABLES

  1. Number of Borrowers and Loan Portfolio volume
  2. Volume of the Savings Portfolio (where applicable)
  3. Quality of the Loan Portfolio
  4. Branch profitability
  5. Quality of the Customer Service
  6. People Management
  7. New Channels initiatives

KEY RELATIONSHIPS

  • COO, Regional Managers, ,HODs, Board, Regulatory and Professional bodies

TRAVEL REQUIREMENTS

  • Availability to travel up to 50% of the time