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The Foundation for International Community Assistance (FINCA International) is a non-profit, microfinance organization, founded by John Hatch in 1984. Sometimes referred to as the "World Bank for the Poor" and a "poverty vaccine for the planet", FINCA is the innovator of the village banking methodology in microcredit and is widely regarded as one of the pioneers of modern day microfinance. With its headquarters in Washington, D.C., FINCA has 21 affiliated host-country institutions (affiliates), in Latin America, the Caribbean, Africa, Eastern Europe, the Caucasus and Central Asia. Along with Grameen Bank and Accion International, FINCA is considered to be one of the most influential microfinance organizations in the world.
About the Job
FINCA is recruiting for an experienced, motivated and hands-on Chief Operations Officer (COO) to join FINCA’s start-up Microfinance Bank in Nigeria. This is a core Management Board position and reports directly to the Chief Executive Officer (CEO). S/He is responsible over FINCA’S retail banking activities and related operations, and it effective implementation in staffing, products and procedures, ensuring she offers maximally competitive products that support outreach maximization under the condition of profitability. S/He is also responsible to ensure that the company presents characteristics consistent with an ethos that will win community trust, responds to client needs and raises client awareness regarding the opportunities that FINCA’s products and services can provide. As a management board member s/he is responsible in the overall performance and activities of FINCA.
Essential Duties and Responsibilities:
- Direct FINCA’s Retail Banking Strategy and Structure
- Direct Human Resources and People Management for Retail Banking Operations
- Manage FINCA’s Retail Banking Activities
- Support Sales, Marketing and Branding for Retail Banking Operations
- Provide Strategic Leadership and Management for the Organization
Retail Banking Strategy and Structure
- Cultivate a corporate culture of high customer service standards and ensure that an excellent customer experience is at the core of FINCA’s retail banking delivery methods & ethos
- Drive profitable growth of existing products and ensure strong loan portfolio quality in a market-responsive and responsible manner
- Analyze and continuously improve products, policies, procedures, and structures in a way that is scalable and in support of FINCA’s growth targets while also striking the right balance between efficiency, profitability, risk management, and responsiveness to client preferences and needs
- Ensure that appropriate policies, procedures and structures are in place to support FINCA’s retail banking strategies and that these are successfully trained, communicated, inculcated and implemented across the organization and updated as needed
- Provide strategic leadership on sales and product distribution channels (e.g. selection of new branch locations and development of new banking channels) for retail banking in a way that supports business outreach while providing an excellent customer experience
- Lead a dynamic, evolving, and proactive business growth strategy for retail banking
- Analyze opportunities for retail product innovation and diversification
- Ensure that the institutional culture is that of a full-service Financial Services institution and that cross selling of all products lines is effective and institutionalized across the company
Human Resources and People Management
- Provide leadership, management and strategic focus for FINCA employees engaged in retail banking operations
- Cultivate a positive working environment, sense of belonging (“team spirit”), and affinity to FINCA’s mission and brand values among the retail banking work force
- Anticipate staffing needs, participate in recruitment efforts, and attract the right people in support of growth and outreach plans
- Identify, mentor and develop high potential staff members for future management roles
- Retain, motivate and maximize productivity of staff through effective leadership, mentoring, transparent communication, performance management, and career planning
- Set and successfully communicate performance measurements and targets to staff in a way that drives business growth, provides positive motivation for staff, and aligns with FINCA’s mission and brand values
- Conduct performance evaluations of the staff reporting to him/her and verify that the supervisory personnel also perform evaluations of their staff in a timely manner according to established procedures
- Develop effective compensation schemes for retail banking staff
- Ensure that the staff development and training strategy supports the staffing plan, individual career development plans and the overall business growth plan and strategy under credit
- Coordinate with the Training Manager to build staff competency, design courses and conduct training where required
- Work directly with front-line retail staff in order to ensure strong quality of retail operations, and implementation of retail policies and procedures.
- Ensure that staff fully comply with and embrace the FINCA Code of Conduct, all FINCA ethical standards, and all Exclusion List requirements
- Sales, Marketing and Branding
- Assist in development of FINCA’s brand at the company and product levels and ensure proper measures are in place to manage reputational risks
- Assist in development and implementation of a core set of research content areas (outreach, competition, customer service, social performance) that provides reliable and relevant information to guide improvements and innovation in our products and services
- Position FINCA to be a market leader in our product lines and service offerings, ensuring that FINCA’s strategies and market positioning are proactive and informed by in-depth understanding of competition and market dynamics
- Develop strategies for growth in client outreach, transaction volumes and number of transactions in existing and new locations across all product lines and service offerings. This includes working in conjunction with Marketing on periodical promotions and campaigns as well as development of sales systems to be run in day-to-day operations.
- Develop effective marketing and sales approach to outreach that understands and responds to the needs of the clients in a timely manner
- Ensure ongoing sales and marketing of financial services in the assigned branches operating areas through a range of channels, in keeping with the marketing plan. Recommend new/improved sales mechanisms as appropriate.
Management of Retail Banking Activities
- Review/approve monthly targets and outreach plans for branches/regions
- Monitor subsidiary performance versus plan, and work with senior staff to develop plans for any interventions which may be required
- Ensure quality financial services delivery through regular visits to assigned branches, including monitoring and evaluation of marketing/sales efforts, business analysis and client screening, savings mobilization, loan disbursements, payment collection, channels and other aspects.
- Provide leadership and mentor Product Managers, Regional Managers and Branch Managers on ways to improve all aspects of financial services delivery
- Participate in Credit Committees as required by authorization levels or to strengthen capacity of credit staff
- Support savings mobilization drives and represent company with key clients and stakeholders in order to develop or strengthen business relationships
Strategic Leadership and Management for the Organization
- As a member of the Management Team/Board, participate in FINCA general management as defined by the Charter and the Regulation on Management Team/Board (if existing)
- Be informed about all important activities and developments at FINCA
- Keep all Management Team/Board members informed about relevant issues/developments in FINCA’s operations
- Present relevant “Operations” issues to the Management Team/Board for information, discussion, decision making
- Participate/vote in decision-making on relevant “Operations” and “Non-Operations” issues
- Together with the CEO and the CFO, direct the preparation of the operations plans and budgets
- Monitor the implementation of operational, financial and institutional development plans
- Develop and implement adequate performance reporting
Qualifications and Experience:
- Master’s in Business, Finance and Economics
- Bachelor’s degree in Accounting, Finance, Economics, Business Administration or required equivalent.
- At least 5 years of experience in the management of business operations functions of a company, desirably a financial institution.
- International experience desirable, exposure within the Africa region and Nigeria an asset.
- A sound knowledge of micro finance and principles and practices of banking.
- Leading with integrity - Reinforces our values through daily behaviour and holds others accountable to ethical behavior
- Employee engagement - Maintains a fulfilling work environment and engages staff based on their strengths. Mentors others to develop their skills and provides feedback on performance regularly.
- Responsible for results - Takes responsibility for own actions and manages others to focus on key priorities.
- Recruitment and staffing - Makes quality hiring decisions; Forecasts staffing needs accurately; Follows Company hiring process
- Managing People - Includes staff in planning, decision-making, facilitating and process improvement; Takes responsibility for subordinates' activities; Makes self available to staff; Provides regular performance feedback; Develops subordinates' skills and encourages growth; continually works to improve supervisory skills.
- Planning/Organizing - Prioritizes and plans work activities; Uses time efficiently; Plans for additional resources; Sets goals and objectives; Organizes or schedules other people and their tasks; Develops realistic action plans.
- Financial responsibility - Conserves organizational resources and works within budget guidelines.
- To perform the job successfully, the candidate should demonstrate the following competencies and qualities:
- Experience in developing and implementing strategic/operational plans for financial institutions
- Willingness to relocate to Owerri, Nigeria and to travel within the country (60% of the time)
- Excellent organizational, planning, analytical and problem-solving skills,
- High level of customer service and strong willingness to work in the field,
- Strong business management and negotiation skills,
- Experience managing and motivating a large staff,
- Excellent interpersonal, communication and training skills,
- Excellent technical report writing skills and computer literacy,
- Fluency in regional/local language, working knowledge of English a plus,
- Strong fit to FINCA’s desired corporate culture and values, and commitment to furthering FINCA’s mission and vision. In particular, must demonstrate a commitment to transparency and integrity
- Understands the needs of a start-up, with willingness and ability to perform duties beyond the scope of work
Method of Application
Interested and suitably qualified candidates should visit FINCA's Career Page