Urgent Vacancy in Microfinance Bank (Nigeria)

Chief Commercial Officer (Nigeria)
About the Job

Job Summary:

Working under a contract with ACCION International and as part of an international technical assistance team, the incumbent will hold the Chief Commercial Officer position, with direct line authority and responsibility for implementing the commercial strategy for credit operations and other financial services offered.? S/?he is responsible for the overall management of the Commercial Department, its internal controls and strategic planning.? Since this is a “start-up” financial institution, the Chief Commercial Officer needs to be a dynamic self-starter capable of energizing his or her staff.? S/?he is expected to provide strong leadership to the front and back office staff within the organization and manage their development.? S/?he oversees the institution’s delivery of financial products and services and reports on its commercial performance.?

Key Areas of Responsibility:

1.? Management of Commercial Department

· Oversee the department’s managers and guide them in the management of their respective units;

· Maintain a high standard of discipline within the department and ensure that all managers are performing to expectation;

· In conjunction with the CEO and other relevant departments and divisions, recruit, hire, train, support and motivate department staff; and

· Provide timely and accurate information and reports on a regular basis to senior management.?

2.? Credit Control and Administration

· Organize and act as chair of the Credit Committees at the credit levels as outlined in the procedures manual;

· Manage the application of policies, norms and procedures at the branch level and supervise that the entire loan process is working according to procedures;

· Set performance contracts and monitor performance per procedures for the department’s managers; and

· Implement the performance management system for the department’s managers.?


3.? Portfolio Quality Management

· Monitor quality of loan portfolio, perform analyses to determine what factors are affecting the delinquency rates at the level of the branches, zones and sectors, and develop loan recovery strategies;

· Work together with the department’s managers in loan recovery activities; and

· Supervise Loan officers to ensure that roll down ratios on delinquent loans over 1 to 30 days are within limits set by the bank and direct the coordination of activities between the branches and the recovery unit.?


4.? Savings Mobilization

· Develop and monitor the implementation of the savings deposit strategy at the level of the branches, zones and sectors, and develop savings mobilization strategies;

· Manage the application of policies, norms and procedures at the branch level and supervise that the entire savings process is working according to procedures; and

· Set performance contracts and monitor performance per procedures for the savings officers.?


5.? Department Administration

· Ensure that the department maintains up-to-date and accurate client records; and

* Organize and maintain neat, up-to-date and accurate files regarding performance of all of the department’s managers.?


6.? Department Reporting

· Perform analysis on financial indicators and provide reports for the CEO on these indicators including disbursements, client retention, growth of different products, and branch delinquency;

· Analyze trends in the loan portfolio; and

· Identify reporting needs within the management information system that are lacking.?


7.? Business Development


· Develop the marketing and sales strategy in order to increase the number of clients, maximize sales, and keep current clients, especially for loan and deposit products; and

· Oversee the corporate affairs unit of the bank to promote the required level of market awareness and corporate image of the bank.?


8.? Product Development

· Supervise and monitor the product development unit in the following areas:

a.? The development and introduction of relevant and appropriate new products as required including savings and loans;

b.? Maintain and update the manuals of policies, procedures and norms for all bank products;

c.? Evaluate the characteristics of the loan products and make necessary modifications (with the joint agreement of the management team);

d.? Evaluate the characteristics of the deposit products and make necessary modifications (with the joint agreement of the management team);

e.? Evaluate the procedures used and make necessary modifications when needed;

6. Conduct market research and analyze and present the results to the management team; and
7. Work with the IT Department to ensure that the MIS is adapted and customized to reflect the above modifications in a user-friendly manner.?

9.? Financial Planning and Management


· Develop annual plans and budgets for the Commercial Department, incorporating input from the department management team and branches;

· Approve expenses within the budget parameters; and

· Fulfill all other functions and duties as required by the CEO.?


10.? General Management

· Lead the department;

· Supervise department staff and ensure that well motivated;

· Mentor and coach staff;

· Report any internal control deficiency to senior management and the auditors;

· Coordinate, with the Human Resources Department, the staffing and training of the department to ensure efficiency and high quality work;

· Supervise all information system and technology projects for the department; and

· Control the institution’s expenses and investments.?
Qualifications and Requirements:


* Minimum of 10 years of direct experience, preferably in a bank or microfinance institution, in credit operations for micro, small and medium enterprises.?
* At least 5 years track record in a senior management position of a financial institution (with total assets of at least $10m) servicing the MSME sector or involvement at a senior level in the provision of advisory services to microfinance institutions.?
* Advanced degree in business, accounting, finance or related area of study.?
* Experience in commercial strategic planning, budgeting, credit analysis, product and systems development, and risk management.?
* Knowledge of bank and/?or non-bank financial institution operations.?
* Knowledge of Africa and/?or ability to work in African setting.?
* Languages: English required.?
* Willingness to live in Nigeria for the duration of the contract.?
* Ability to operate with a minimum of on-site supervision.?
* Ability to travel regularly to areas of operations.? International travel approximately 15 percent.?

* Strong leadership and people management skills.?
* Strong analytic skills.? Ability to conduct credit analysis and to think strategically using financial analysis.?
* Excellent communication skills.? Ability to present financial information effectively to both specialists and non-specialists.?
* Understanding of financial and credit analysis software packages.?
* Knowledge of micro, small and medium enterprise market segments in West and Central Africa or similar regions.?

* Is honest, hardworking, and friendly.?
* High standards in regards to quality of work.?
* Able to work independently and as a team member.?
* Attention to detail.?
* Commitment to the social mission of microfinance.?



How to Apply: Please submit letter of interest and resume online at www.accion.org

About ACCION:

Accion Microfinance Bank is one of the largest microfinance banks in Nigeria with a capitalization of N1.?2bn.? Its shareholders include three of the leading commercial banks in Nigeria; Citibank, Zenith Bank, Ecobank, as well as three global financial institutions; IFC a subsidiary of the World Bank, SME Manager and Accion Investment which is a subsidiary of Accion International.? Established in 1961 and a leader in microfinance since 1973, ACCION International has over 45 years of experience in the field of international economic development.? ACCION today is one of the premier microfinance organizations in the world, with a network of lending partners that spans Latin America, Africa, Asia and the United States serving over 3.?12m clients with an active portfolio $2.?97bn.?

Accion Microfinance Bank was established in Nigeria in 2006 has disbursed over N1.?5bn in loans and currently has an active portfolio of over N660,000,000 and 18,000 active clients.? Staff strength has grown rapidly from 6 in 2006 to 170 as at August 2008.? Please visit our website www.?accionmfb.?com for additional information.? This rapid growth has heightened the need for a robust and professionally run operations department.?