FINCA MALAWI
TRANSFORMATION CONSULTANT
Job Description
To better serve its customers and increase its reach and profitability, FINCA Malawi seeks to provide a wider range of financial services, including savings products, and to gain access to and intermediate savings to finance and scale up its lending operations. A Transformation Committee (TC), comprising Board Members and Senior Management would be established to oversee the transformation process. A Transformation Consultant (Manager) will be hired to lead the process.
Rationale for Transformation Management
The scope of work involved in the transformation process is of such magnitude and nature that it cannot be carried out by the existing management structure without significantly diverting its attention from the day-to-day activities of the core business. Additionally, several aspects of transformation require specialized expertise. Therefore, FINCA Malawi needs a full-time on-site Transformation Manager (TM) to manage the transformation process and to co-ordinate the outsourcing of technical and other assistance. The TM will co-ordinate all activities of the transformation, and will be responsible to and report to the Board through the CEO and the Transformation Committee (TC).
Responsibilities of the Transformation Manager
- Co-ordinate the implementation of all activities detailed in the Transformation Plan
- Provide technical support to the TC and Management for implementation of transformation activities
- Set key performance indicators to measure and regularly report on transformation status to the Board and Management through the TC
Specifically, the TM will be responsible for the following:
- Review any existing transformation plan and budget and finalize a new plan that covers the key areas needed for FINCA Malawi to able to take deposits and other agreed financial services under the supervision of the Central Bank of Malawi.
The detailed plan should include but not be limited to the following:
- Analyze and study banking legislation requirements and banking license normative acts, provisions set by the Central Bank of Malawi in respect to deposit taking institutions.
- Study the current condition of FINCA Malawi and assess its readiness to operate as a bank including:
- Current financial condition;
- Compliance with Central Bank of Malawi prudential rations, set for commercial banks and other requirements which commercial banks shall accord with;
- compliance of company’s capital with requirements set for share capital of banks;
- compliance of company’s policies and procedures acts with requirements set by Central Bank of Malawi;
- Adequacy of branches technical infrastructure (cash desks, vaults, security issues etc.) and company’s sub-offices;
- Qualifications and working experience of key managers and their compliance with requirements set by Central Bank of Malawi;
- Assessment of company’s information security system and its compliance with requirements set by Central Bank of Malawi;
Core operational Materials development
- prepare the articles of association for the banking license;
- Prepare the business plan of the bank;
- Develop core bank policies and procedures pursuant to requirements set by Central Bank of Malawi (credit policies, deposit policies, risk management policies, anti-money laundering policies and etc.)
- Study and prepare information and documents related to shareholders of the bank for submission to the Central Bank of Malawi;
Licensing processes
- Cooperate with the Central Bank of Malawi with regards to issues on license acquisition; arrange meetings with responsible officers of the banking supervision department and licensing department with regards to issues on license application;
- Make proposals to Management Board of FINCA Malawi on actions required to comply with provisions of Central Bank of Malawi;
- Inform the Management Board of all changes regarding the issues related with banking activity;
- Prepare the banking license application package and with approval of Management Board and FINCA Malawi Board of Directors submit to the to the Central Bank of Malawi.
Transformation Plan
Prepare detailed Transformation Plan including the following:
- Detailed project plan for all the activities under the scope of work and timelines
- FINCA Malawi bank’s deposit products that will be implemented and project plan for these;
- Testing and implementing deposits plan;
- Proposing the list of corresponding banks for establishment of relationships;
- Development of detailed procedures for new banking products;
- Obtaining the regulatory reports templates from the Central Bank of Malawi and work with IT and Accounting departments to automate all the Central Bank reports;
- Review and consult with the Central Bank on adequacy of the Banking MIS with regards to its compliance with requirements set by Central Bank;
Together with CEO and Management Board
- Develop staffing plan for banking transformation;
- Together with Training Manager Develop training program for existing company personnel to upgrade their skills and knowledge for banking operations;
- Together with Security Department review security system of the building;
- Develop / modify job descriptions for new / existing positions;
- Together with Marketing Department prepare the marketing plan of the bank
- Co-ordinate the TC meetings to ensure they are held regularly and as scheduled and to ensure that all stakeholders are kept informed and involved in the process.
- Provide technical assistance to the TC and Management in areas of own expertise
- Co-ordinate the implementation of all the activities outlined in the transformation plan, including
- Activities for preparing the institution to comply with regulations
- Preparing the application and following up with the Central Bank
- Actual conversion into a regulated financial intermediary
- Co-ordinate the outsourcing and use of technical assistance for the transformation process, including:-
- Formulating scope of work and terms of reference and designing contracts
- Writing proposals to donors and providers of technical assistance
- Assisting the TC in selecting and engaging consultants or firms to carry out the activities
- Scheduling underlying activities
- Assembling and providing background information
- Providing initial briefing to consultants or other interested parties
- Ensuring quality control and compliance with contracts as well as transfer and integration of knowledge and skills to management
- Receiving and reviewing technical assistance implementation reports for submission to and discussion with the TC
- Manage investor relations
Duration of Transformation Process
The TM will be based in FINCA Malawi for a period of 8 months, with a possible extension to 18 months
Apply Now - See more at: http://fincamalawi.simplicant.com/job/detail/14296-transformation-consultant#sthash.Huyv4tXe.dpuf
