Business Development, Head at Money Trust Microfinance Bank

Description

• The Head of Business Development is a strategic leadership role responsible for driving the bank’s revenue growth by identifying new market opportunities, establishing strong partnerships, and developing innovative products and services tailored to the needs of the microfinance sector. The role demands exceptional market insight, strategic thinking, and the ability to lead a high-performing team to achieve the bank’s business objectives.

Key Responsibilities
Strategic Business Development:

• Develop and execute the bank’s business development strategy in alignment with its overall vision and objectives.
• Identify and explore new market segments, partnerships, and customer acquisition channels.
• Conduct market research to understand customer needs, competitor offerings, and emerging trends in the microfinance sector.

Product and Service Innovation:

• Design, develop, and implement new financial products and services to meet the needs of target customers, including SMEs and low-income groups.
• Continuously evaluate the performance of existing products and propose improvements to enhance value and competitiveness.

Partnership and Relationship Management:

• Build and maintain strategic partnerships with corporate clients, NGOs, cooperatives, and community-based organizations.
• Represent the bank at industry events, conferences, and networking forums to enhance brand visibility and credibility.

Revenue and Market Expansion:

• Develop initiatives to achieve revenue targets, including customer acquisition and retention strategies.
• Collaborate with the marketing team to design and execute impactful campaigns to promote the bank’s products and services.

Team Leadership and Capacity Building:

• Lead, mentor, and inspire the business development team to achieve individual and departmental targets.
• Identify skills gaps within the team and organize training programs to build capacity and drive innovation.

Performance Monitoring and Reporting:

• Track key performance indicators (KPIs) for the business development team and prepare regular progress reports for the Managing Director.
• Use data analytics to identify opportunities for growth and recommend strategies to optimize market penetration.

Qualifications and Requirements

• Bachelor’s Degree in Marketing, Business Administration, Economics, or related field. A master’s degree or certifications in Business Development or Sales Management is an added advantage.
• 3–5years of progressive experience in business development, with at least 1–3years in a leadership role, preferably in the microfinance sector.
• Proven ability to develop and implement successful business strategies in the financial services industry.
• Strong understanding of the Nigerian microfinance landscape, including customer behaviors, regulatory requirements, and market trends.
• Excellent negotiation, networking, and relationship management skills.

Key Competencies:

• Entrepreneurial mindset with a focus on achieving results.
• Ability to analyze market data and translate insights into actionable strategies.
• Exceptional leadership and communication skills.
• Strong financial acumen and strategic planning capabilities.
• Strong business acumen and ability to drive market growth.