JOB PURPOSE
The Business Development Manager will be responsible for driving Ecobank's Remittance and Fintech growth strategy in Nigeria, a high-priority market with significant revenue potential. The role will focus on identifying new business opportunities, developing strategic partnerships, managing the sales pipeline, and delivering innovative financial solutions to capture the market share for Remittance & Fintech within the year.
This position requires a highly motivated and target-driven professional with expertise in market analysis, business development, strategic sales planning, and stakeholder engagement. The incumbent will play a pivotal role in expanding Ecobank’s footprint in Nigeria’s remittance and fintech space, contributing to the bank’s long-term growth and profitability.
JOB CONTEXT
Nigeria represents a key market for remittance and fintech services, with an estimated market size of $60 billion for remittances and $5–6 billion for fintech, while the digital payments market is projected to reach $68.34 billion by 2025. The competitive landscape is evolving rapidly, with increasing demand for digital payment solutions, regulatory shifts, and technological advancements shaping the industry.
Success in this role requires an in-depth understanding of Nigeria’s remittance ecosystem, fintech innovations, customer behavior, and regulatory landscape. The Business Development Manager must leverage Ecobank’s existing infrastructure and market presence to drive adoption, secure key partnerships, and deliver scalable, revenue-generating solutions.
KEY RESPONSIBILITIES
Business and Financial Performance
- Develop and execute a comprehensive business development strategy tailored to the Nigerian remittance and fintech market.
- Drive revenue growth through customer acquisition, product innovation, and strategic partnerships.
- Identify high-value opportunities to expand Ecobank’s market presence and optimize financial performance.
- Ensure the achievement of key financial targets, including revenue, profitability, and market share growth
- Manage the P&L for remittance and fintech-related business lines, ensuring financial sustainability.
Strategic Initiatives
- Identify and execute high-impact strategic partnerships with fintechs, telecoms, mobile money operators (MNOs), and financial institutions.
- Lead the design and rollout of innovative banking-as-a-service (BaaS) solutions to enhance Ecobank’s digital offerings.
- Leverage technology and automation to drive efficiency and improve product scalability.
- Monitor industry trends, regulatory changes, and emerging technologies, ensuring Ecobank remains at the forefront of innovation.
- Represent Ecobank at industry forums, fintech summits, and trade events to strengthen brand positioning.
Customer Excellence
- Conduct detailed market segmentation to understand customer behavior, needs, and preferences.
- Develop customer-centric remittance and fintech solutions that enhance user experience and drive adoption.
- Establish and maintain strong relationships with corporate clients, SMEs, and retail customers, ensuring high satisfaction levels.
- Champion a culture of customer excellence, ensuring quick resolution of inquiries and seamless service delivery.
Leadership and People Management
- Work closely with cross-functional teams (Marketing, Product, Compliance, Legal, and Operations) to ensure alignment in business development efforts.
- Train and mentor junior business development staff, fostering a high-performance team culture.
- Lead internal workshops and knowledge-sharing sessions to enhance internal capabilities in remittance and fintech.
- Develop and implement employee engagement strategies to enhance productivity and retention.
Process, Control, and Operational Performance
- Establish and manage a structured sales pipeline using CRM tools to track and measure performance.
- Oversee the end-to-end business development cycle from prospecting to closing deals and post-sales engagement.
- Ensure compliance with regulatory and risk management frameworks, particularly around cross-border transactions.
- Implement robust monitoring and reporting mechanisms to assess performance against set targets.
- Work with internal stakeholders to enhance transaction security, fraud prevention, and operational efficiency.
Key Success Factors
- Achievement of agreed market share in remittance and fintech
- Increase in revenue and profitability from remittance and fintech products.
- Successful onboarding of strategic partnerships that drive customer adoption.
- High customer satisfaction and retention rates.
- Operational efficiency and compliance with regulatory requirements.
JOB PROFILE
Education
- Bachelor’s degree in Business Administration, Finance, Economics, or a related field.
- MBA or relevant professional certification (e.g., CFA, Fintech certifications) is an advantage.
- Minimum of 8–10 years of experience in business development, fintech, payments, or remittance services.
- Proven track record in achieving aggressive sales and market expansion targets.
- Strong understanding of Nigeria’s remittance and digital payments landscape, including regulatory frameworks (CBN, PSP, AML/KYC, etc.).
- Experience managing partnerships with fintechs, telcos, and financial service providers.
- Familiarity with cross-border remittances, digital banking, and mobile payments solutions.
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