Job Title : Deputy Chief Operations Officer
Department : Operations / Business
Salary : Grade 3, Malawi
Reports To : Chief Operations Officer
Prepared by : Esther A. Akafia
Approved by : Olaf Becker, Jana kadian, Mikhail Velichko
Prepared Date : December 2012
Updated Date : May 5th, 2014
SUMMARY
The Deputy Chief Operations Officer (DCOO) of FINCA Malawi is a member of the core Management team and will support the COO in FINCA Malawi’s retail banking activities and related operations, including staffing, products, and procedures. S/he will ensure that FINCA Malawi will offer competitive products that support outreach maximization under the condition of profitability; that these products are implemented in a most efficient, client-friendly, safe, and professional manner; and that FINCA Malawi has savings and credit staff (Savings Officers, Loan Officers, Credit management staff, Credit back office staff and other required branch staff) in the right numbers and with the relevant business and customer service skills.
With responsibility over the performance of Regional Managers in Malawi, the Deputy COO will strive to ensure that FINCA Malawi responds to client needs and raises client awareness regarding the opportunities that FINCA’s products and services can provide. The Deputy COO will work with his/her to maximize FINCA’s outreach to the customers in a sustainable and profitable way.
The Deputy COO will act in the stead of the COO when required and will also coach and develop branch managers and Regional managers to enable them improve upon their business and management capabilities.
It is our expectation that the Deputy COO of FINCA Malawi will be the potential successor of the COO and should be capable of assuming the COO of FINCA Malawi role within a period of 12 months.
ESSENTIAL DUTIES include the following. Other duties may be assigned.
- Manage all Regional managers with regards to their key performance areas on savings, credit, people management and business expansion.
- Assist the COO in directing FINCA’s Retail Banking Strategy and Structure
- Assist the COO in the Human Resources and People Management for FINCA Malawi’s Retail Banking Operations and particularly holds Regional and Branch Managers accountable for the business expansion, people management and performance management in their geographic areas of operations.
- Support Sales, Marketing and Branding for bank expansion
- Provide Strategic Leadership and Management for the regional managers and branch managers.
Retail Banking Strategy and Structure
As FINCA Malawi transforms into a deposit taking institution, the Deputy COO will assist the Management Board in reviewing the best practices of other FINCA deposit institutions including the applicable products, process and structures and will be a key driver in its implementation in Malawi.
The deputy COO will assist the COO in
- Cultivating 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
- Driving profitable growth of existing products and ensure strong loan portfolio quality in a market-responsive and responsible manner
- Analyzing and continuously improving 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
- Ensuring 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
- Providing 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 all aspects of operations at the branch levels particularly to Supervisors, Branch Managers and Regional Managers,
- 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 particularly of Supervisors, Branch Managers and Regional Managers, 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
- 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
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
- Work with COO and management Board to 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.
- 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 Operations Activities in the Regions
- Review/approve monthly targets and outreach plans for branches/regions
- Monitor subsidiary performance versus plan, and work with Regional and Branch manager to develop plans for any interventions which may be required
- Ensure quality financial services delivery through regular visits to all 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 Regional Manager, Branch Managers and Supervisors 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 the potential successor of the COO participate in FINCA general management meetings as defined by the Charter and the Regulation on Management Team/Board
- keep informed about all important activities and developments at FINCA
- Keep all Management Team/Board members informed about relevant issues/developments in subsidiary operations and work with the Management Board to develop and implement interventions when required.
Customer Service
As the business leader, the Deputy COO will assist the COO in delivering a superior customer experience across all FINCA service delivery channels. S/he ensures that the process of customer acquisition and service delivery across all branches and other service points is anchored on delivering a consistently superior customer experience. The Deputy COO will for that matter strategize and plan to deliver operational service excellence and ensure that the operational workforce is capable, enabled and inspired to deliver on FINCA’s brand promise, for customer improved customer acquisition, retention and loyalty.
SUPERVISORY RESPONSIBILITY
Regional Managers
Branch Managers when required
COMPETENCIES
Leading With Integrity
- Reinforces our values through daily behaviour
- Holds others accountable to ethical behaviour
- Encourages full disclosure of mistakes
- Confronts unethical behaviour quickly
Employee Engagement
- Maintains a fulfilling work environment
- Engages people based on their strengths
- Mentors others to develop their skills
- Sets clear and measurable goals
- Provides feedback on performance regularly
Achievement Focus
- Overcomes obstacles creatively
- Consistently achieves business objectives
- Recognizes and pursues opportunities
- Takes calculated risks to achieve goals
Collaboration
- Convinces others collaboration is a win-win
- Holds people accountable to work together
- Fosters mutual accountability to achieve results
- Develops rapport throughout the Company
Responsible for Results
- Takes responsibility for own actions
- Manages others to focus on key priorities
- Helps others overcome challenges
- Balances urgency with attention to detail
Recruitment & Staffing
- Makes quality hiring decisions
- Forecasts staffing needs accurately
- Follows Company hiring process
- Demonstrates effective interviewing process
Financial Responsibility
- Conserves organizational resources
- Works within budget guidelines
- Assesses ROI on expenditures
- Adjusts allocations to take advantage of unplanned opportunities
Qualifications, Experience and Skills
- People Management Experience with proven and documented responsibility and achievement in profit, outreach and product development and implementation.
- Branch Management experience preferred
- Risk Management experience
- Understanding of microfinance operations including knowledge on Credit and savings products
- MBA degree (or equivalent) in related discipline required
- Banking 4 years minimum, 8 years preferred
- Credit 2 years minimum, 4 years preferred
- Risk Management experience preferred
- Branch Management exposure preferred
Job Skills:
- Excellent organizational, planning, analytical and problem-solving skills,
- High level of customer service and strong willingness to work in the field,
- Experience managing and motivating staff/team,
- Excellent interpersonal, communication and training skills,
- Excellent technical report writing skills and computer literacy,
- Fluency in English Language, knowledge of local Malawi language a plus
LANGUAGE SKILLS
Fluency in English Language (written and spoken) required, knowledge of local Malawi language a plus
KEY DELIVERABLES
- Number of Borrowers and Loan Portfolio volume
- Volume of the Savings Portfolio
- Quality of the Loan Portfolio
- Subsidiary profitability
- Quality of the Customer Service
- People Management
- Subsidiary implementation of services aligned with FINCA Brand Values
KEY RELATIONSHIPS
- Management Board, HODs, RCOO, Board, Regulatory and Professional bodies, Other Subsidiaries COO’s and Deputy COOs
TRAVEL REQUIREMENTS
- Availability to travel up to 50% of the time
- Ability to relocate and live and work Malawi for a period of not less than 3 years for expat applicants
