Head, Innovation at Wema Bank Plc

Location: Lagos (Head Office)
Reports to: MD/CEO
Group/Department: Innovation
Employment Status: Full Time Employee
Grade: DM- MGR

Job Summary

• This role will primarily be that of change agent, the - “Chief Conductor.” The innovation officer will have to smoothly manage needs across back, middle and front office, to continue a perpetual upward-moving innovation trajectory.
• This officer will contribute to the delivery of change incubation, anticipate organisational needs and develop implementation plans. He /She will play a key role in ensuring projects (change initiatives) meet business, schedule and budget objectives.
• The officer will also develop and manage the strategic goals of digital innovation to ensure that Wema Bank has a defined and consistent project management approach in place and that ideas translated to project needs of the business are being met and delivered.

Key Job Function/ Responsibilities

• Provide leadership around innovation analysis and synthesis, including the ability to develop frameworks, articulate innovation insights and clear principles.
• Oversee the establishment and management of project methodology incorporating structures, standards, processes, documentation and reporting which is agile, fits the needs of the project and puts emphasis on the quality of decision making and timely project delivery.
• Formulate the initial concept for change concept formulation and prepare proposals including analysis on opportunity definition, business plan, risk mitigation, costs and benefits and action plans to the Innovation Committee.
• Develop partnership with Fintech companies by executing a partnership agreement and, if necessary, encouraging them to utilize their technology and jointly run business with them primarily in the Nigerian market where Wema Bank has a footprint.
• Develop/coordinate approved concepts into complete project design and execution documents along with task-level project plans to arrange external partners and cross-function teams.
• Liaise with stakeholders to communicate the proposed change and associated analysis and enable them to understand the business processes affected and the underlying impacts on system, people and customers.
• Provide support development of new technology and strategic plans, new processes and ideas to improve productivity, efficiency and performance.
• Work with project teams to problem-solve any issues or barriers that may arise, and threaten to delay the processes as deemed appropriate and provide progress reports to the Innovation Committee and other reporting parties
• Responsible for leading strategic growth and innovation initiatives across commercial and Retail Banking in Nigeria as well as being accountable for innovations development, execution coordination and progress tracking
• Monitor areas of innovation in the banking and finance industry whilst learning about innovation practices used by fast paced companies.
• Stay abreast of market trends and competitive developments, exploring the application of new technologies to enhance our client offering as well as constantly evaluating emerging technologies and developing opportunities to see how best they can affect and change the organization.
• Drive ad hoc projects as required.

Organizational Impact/ Influence:    

• Ensures focus on execution and drive improvement in performance metrics
• Coordinate and support negotiations between Innovation Labs and Wema Bank.
• Lead proof of concept projects and development of new products.
• Advise senior management of potential delivery capabilities through the preparation of strategy presentations and reports.

Required Education/Qualifications

• First degree in a numeric course or any relevant social science discipline. A Postgraduate degree OR an MBA/Professional qualification in a Social Science related course will be an added advantage.

Required Experience:

• Minimum of 7-10 years cognate experience in a financial services industry.

Competences Required
Skills:

• Strong analytical and policy skills
• Ability to manage multiple projects and deadlines simultaneously
• Strong interpersonal, oral and written communication skills in English combined with matrix management skills.
• Outstanding presentation skills
• Strong strategic and project planning with an execution track record

Knowledge:

• Knowledge of micro and macroeconomics
• Experience in research and analysis
• Background in customer-facing, web-based and/or systems preferred, especially in the electronic payment, or online/mobile banking space.

Attitude:

• Integrity
• Results Orientation
• Initiative/Judgment
• Team player
• Outstanding change management influencer

Office Plan:

• Personal desk in an open floor office