MD/CEO (State MFB)
Job Details
permanent
Asaba, Delta, Nigeria
Novella Africa
19.12.2023
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Full Job Description
A CBN-licensed State Microfinance Bank with head office in Asaba,
Delta State is seeking to hire a Managing Director/Chief Executive
Officer.
The
Microfinance Bank creates business opportunities for entrepreneurs and
low-income earners by availing them of access to affordable loans, as
well as improving the general financial status of clients with its
deposit accounts. It is a limited liability company duly incorporated
in Nigeria under the 2002 Companies and Allied Matters Act and is
regulated by the Central Bank of Nigeria as a fully-fledged State
microfinance bank.
Responsibilities:
- The Managing
Director shall be responsible for giving strategic guidance and
direction to the board to ensure that the Company achieves its
financial vision, mission, and long-term goals.
- The
MD/CEO has the overall responsibility to plan, organize and control
all of the day-to-day activities of the bank.
- Setting
the overall strategic direction of the company alongside the
board.
- Manage relationships with Investors, regulatory
agencies, creditors, and other partner institutions.
- Operates in a fiscally responsible manner within agreed
budget parameters
- Ensure that the Bank meets the
targets set forth in the business plan and annual budget. Supervise
all heads of department to achieve efficient, productive, and
profitable loan and deposit portfolio growth in line with corporate
strategy
- Ensure the bank delivers on its short and
long-term strategic road map
- Execute the decisions of
the Board of Directors
- Plans and implements the
long-term business strategy of the organization to achieve the overall
objectives.
- Facilitate and present periodic business
performance review reports to the Board
- Ensure sound
financial recording /reporting
- Participate in projects
geared towards new products/ service development and or
product/service enhancement by giving appropriate guidance on required
checks, controls, processes, and procedures in line with leading
practices within the sector
- Provide strategic input and
direction for the development of performance targets, including
ongoing monitoring to ensure achievement of the set target
- Devising a 5-year plan and working with other board members
to oversee its implementation
- Carrying out a regular
SWOT analysis to mitigate any potential risks through industry and
market changes.
- Setting company-wide KPIs to gauge
company performance in all areas.
- Prepare a corporate
plan and annual business plan and monitor progress against these plans
to ensure that the company attains its objectives as cost-effectively
and efficiently as possible.
- Maintaining a dialogue
between shareholders and the Board.
- Develop and
maintain an effective marketing and public relations strategy to
promote the products, services, and image of the company in the wider
community.
- Setting company budgets and forecasts
alongside the finance department.
- Reporting results to
the shareholders on a quarterly and annual basis.
Requirements
- First degree, preferably in a numeric discipline e.g.
Economics, Business Administration, Accountancy, etc., or a related
field with a minimum of Second Class Honors (Lower Division).
- Relevant professional
qualifications/affiliations such as ICAN, CIBN, CFA, ACIB, etc.
- A minimum of 15 - 20 years of diverse experience (i.e.
banking, insurance, microfinance, etc.) as well as experience in
multi-functional roles within the industry.
- Minimum of
10 years of senior management experience within the financial services
industry
- Prior microfinance experience is desirable,
particularly within a microfinance bank with international ties.
- Prior board-level experience/ experience reporting to a
board/ board committee.
- Prior working experience in
international organizations such as World Bank, DFID, ILO, IFC, etc.
will be an added advantage
- Strong communication
skills.
Competency/ Skill Requirements
- Knowledge and understanding of the Nigerian financial
services market.
- Prior experience leading functions
such as:
- Banking Operations
- Commercial/Marketing
- Finance/Risk
Management
- Human Resources
- Information
Technology
- Good product development and portfolio
management capabilities.
- Excellent customer
relationship development/management skills.
- Knowledge
and understanding of commercial financial products.
- Ability to think strategically and holistically and to
appreciate the systemic impact of various policies, issues, and
solutions.
- Must have a high sense of responsibility,
accountability, integrity, and ethical standards
- Must
have strong business acumen, maturity, and tact, including the ability
to relate with highest levels of management of financial
institutions.