Head of Deposit Growth & Product Innovation at Bosak Microfinance Bank Limited

Job Summary

• The Head of Deposit Growth & Product Innovation would be responsible for driving deposit mobilization, account opening, and retention. The ideal candidate will meet monthly sales targets, introduce the bank’s products, develop and manage High Net-worth Individuals and corporates.

Responsibilities 

• Mobilize funds from private sector entities, individuals, and corporate agencies.
• Develop and maintain relationships with corporate clients and individual depositors.
• Deposit Mobilization of Monthly N15 - N30milion to offset target.
• Advise clients on funds status and generate new clientele on an ongoing basis.
• Work with the team to develop and implement a business development plan to improve the deposit mobilization and retention of deposit and manage withdrawal attrition.
• Provide leadership in implementing business development plans to improve mobilization and retention of deposits, achieve set targets and manage withdrawal attrition.
• Develop and implement a business plan for identified target markets with the prospect to drive high volumes of new deposits to the bank.
• Build and manage strategic relationships for fixed deposit customers, serving as the single point of contact for new business.
• Develop and maintain beneficial relationships with corporate clients and individual depositors and meet sales targets.
• Ensure fixed deposit account opening forms are duly completed and registered and advise clients of deposit status as necessary.
• Develop and execute best-in-class go-to-market strategies and campaigns to support new product launches and drive growth for the business
• Create and manage marketing budgets, plans and strategies.
• Follow and analyze market trends to position products.
• Work with various teams (design, content, acquisition, product, sales) to implement strategies across all marketing channels.
• Researching the market to learn the competitive environment.
• Working with the marketing team to create materials that highlight product features and benefits.

Requirements

• Investment, Private, Microfinance & Retail Banking experience.
• Proven working experience as a Deposit mobilization officer in a Microfinance institution is an added advantage.
• Established track record of developing and maintaining Clients on investment deals.
• Proven track record to meet individual and organizational loan production goals while maintaining a large client base.
• 5-10 years of relevant work experience in the Microfinance Bank, Finance House, and Investment Banking Industry.
• Ability to make sound business decisions, and manage a team.

Why Work With us

• If you desire to work in an organization where employee motivation is key and passion is rewarded, then Bosak MFB might be the place for you.
• We are committed to building an open and rewarding work environment where all employees have equal opportunities for growth to realize their full potential.
• Our remuneration and employee welfare packages are among the best in the industry.

We offer the following Benefits:

• HMO
• Constant Training and Development
• Leave & Passage Allowance
• Performance Induced Pay
• 13th Month