Deputy Managing Director at PHR Solutions Limited

he Deputy Managing Director (DMD)/Executive Director (ED) role is to assist the Managing Director (MD) in the overall direction, management, and administration of all aspects of the company operations, including programs, products, and services, as well as all aspects of the company's fiduciary, financial, and operating performance in support of the company's strategic objectives. The DMD/ED will collaborate closely with the MD to develop management practices that will enable a high-performing and effective executive team. The DMD reports directly to the MD with dotted reporting to the Board.

Principal Responsibilities

OVERALL ORGANISATION LEADERSHIP

The role of DMD/ED is to work closely with the MD to align the full Company’s team around the strategic objectives of the Company, ensuring that all of the Company’s efforts are delivering consistently against these objectives in a tangible, efficient and effective manner. The DMD/ED will:

• Contribute to the strategic and operational direction of the Company’s executive management.
• Works towards the achievement of the Company’s strategic objectives, working to balance short-term results with long-term sustainability.
• Provide clear verbal and behavioral signals that serve to define the company’s business and management culture in the context of its strategic objectives.
• Contribute to establishing clear and consistent management practices across the Company to ensure an effective and cohesive management team.

BUSINESS PLANNING AND RESOURCE ALLOCATION

The DMD/ED, in coordination with the MD, is responsible for driving the development, refinement, and implementation of the company’s business strategy.

This requires effective planning and resource allocation. This includes:

• Provide recommendations for the formulation of the strategic direction and targets of the company.
• Supporting the MD in the preparation and implementation of the strategic and annual plans and ensuring that these are formally updated on a regular basis.

FINANCIAL AND GENERAL MANAGEMENT

The DMD supports the MD in the administration of the Company and contributes to the development of an appropriate organizational framework to support the Company’s business strategy. The incumbent is responsible to ensure that financial controls are in place to enable sound financial management practices. The DMD/ED will:

• Contribute, in coordination with the MD, to the maintenance of an appropriate management structure within the Company.
• Develop, in collaboration with the MD, the Company’s business plan and aim for optimization of the sourcing and application of financial resources in pursuance of the Company’s strategic objectives over the medium and longer term.
• Ensure that the Company operates in a cost-effective manner and propose an annual budget and cost framework for sustainable activities.
• Oversee and provide guidance on financial reporting and accounting, including records to the Board, for the preparation of monthly and quarterly management accounts and annual financial statements as medium-term financial projections in line with applicable accounting rules and the Bank’s accounting policies.
• Manage, in conjunction with the MD, the Company’s general administration and day-to-day operations, taking care of all functions relating to the operation of all business units, including the maintenance of relationships with regulatory authorities and stakeholders as well as the facilitation of representation arrangements.

 TRANSACTION ORIGINATION

• Scan the Nigerian and African business environment for relevant business opportunities.
• Put in place a market Intelligence gathering strategy for transaction origination and execution.
• Develop business strategy and execution plans across sectors for transaction origination
• Present perceived opportunities to MD and Board (where necessary) for directions and advice.
• Initiate deal book, proposals, information memorandum, and other marketing pitches with the aim of winning a mandate.
• Build strategic relationships with funding institutions e.g PFAs, Insurance Companies, Banks, and investor universes for funding of transactions.
• Secure business mandates toward meeting Company’s budget
• Originate both local and cross-border M & A and Capital Markets transactions
• Oversee the Investment Banking team for capital market-related activities, review and negotiate transaction documentation.

HUMAN RESOURCES AND ORGANISATIONAL DEVELOPMENT

The DMD/ED together with the MD is responsible for the organizational development and personnel management of all employees within the Company. This includes:

• Supporting the Board in the recruitment of the Company’s leadership team and key positions within the Company’s structure.
• Motivating and developing employees so that the Company has the human resources and competence to ensure high professional standards.
• Defining and documenting the primary responsibilities of the Company’s leadership team.
• Providing guidance and supporting the Board Committee responsible for remuneration policy in the formulation of human resources policy for the Company’s employees, including personnel services, based on the overall governance framework of the Company.
• Recommending compensation arrangements that ensure the recruitment of competent personnel for positions at all levels in the Company.
• Supporting the Committee responsible for the remuneration in the annual review of the compensation arrangements, including benchmarking against peers in the local market.

RISK AND COMPLIANCE

The DMD/ED, in conjunction with the MD, is responsible for establishing internal risk and compliance systems and procedures, appropriate for the Company’s funds and assets under management, in accordance with the principles and policy laid down by the Board and the guidelines set by the Risk Management Committee and Audit Committee. This includes:

• Ensuring that assets are managed within the constraints laid down by the Company and that restrictions are regularly monitored for compliance.
• Monitoring the Company’s Risk and Governance systems to ensure that assets are managed in a manner that fully complies, in both spirit and letter, with the applicable rules, regulations, and legislation and with the policies set by the Board.
• Providing support to the Compliance Officer to ensure the development of satisfactory risk systems and control procedures for investment and credit management which meet internationally recognized best-practice standards, including systems for the management of market, credit, counterparty, and operational risks, valuation, and measurement of returns.
• Establishing and maintaining contingency plans for the Company’s operations.
• Supervising the organization of the Company’s operations in such a way as to ensure the proper safeguard of the confidentiality of information on the Company’s operations with individual clients.
• Recommending appropriate requirements and procedures governing the code of conduct of Company employees in accordance with the ethical rules laid down by the Board and ensuring such rules are observed.

COMMUNICATION AND REPORTING

• Developing relationships with key stakeholders as well as the general public.
• Overseeing and guiding the preparation and publication of external quarterly and annual reports on the Bank’s activities, in accordance with the requirements laid down by the Board's principles for organization and management and with international best practices.

REQUIREMENT

• The ideal candidate for this role will have over 15 – 20 industry experience with a minimum of 10 years of senior executive experience in Investment Banking.
• The DMD must be a proven senior executive with a successful track record.
• The candidate would require extensive cross-functional banking and finance experience encompassing investment banking, risk management, operations, and customer acquisition and product development.

COMPETENCES AND QUALIFICATIONS:

A solid academic record is essential;

• Bachelor’s degree in business or related fields
• MBA from recognized institutions is highly desirable
• Relevant professional certifications (ICAN, CFA, etc.) are required

Other key expectations include:

• An outstanding track record of achievement demonstrated through business results.
• Demonstrated ability to lead, manage and develop a high-performance culture in organizations.
• Proven ability to develop and execute enterprise-wide initiatives, assemble effective management teams, lead high-performance organizations, and achieve profitable and sustainable growth.
• Knowledge of regulatory and legal requirements affecting business decisions.

SKILLS AND ABILITIES

The successful candidate must possess the following critical competencies:

• Ability to focus on clear goals and achieving targets.
• Ability to understand market trends and the external environment.
• Ability to understand customers’ business objectives and needs.
• Builds and mentors a strong, motivated, collegial, diverse team of executives, with multiple perspectives, to achieve collective success.
• Demonstrates the ability to inspire respect and trust and balances confident leadership with a willingness to listen and learn.
• Possesses the ability to influence others through the appropriate combination of stature, conviction, enthusiasm, engagement, empathy, and logic when presenting opportunities, problems, and recommendations.
• Ability to see the relationship and implications of immediate actions and short-term choices on the long-term strategies and results of the organization.
• Ability to work through others to achieve corporate objectives.
• Strong focus on interdependence and working in effective teams.
• A natural communicator able to motivate and align staff through open and honest communication that is backed up with personal action.
• Highest level of integrity and ethics.