Head of Operations at VFD Microfinance Bank

VFD Microfinance Bank is a subsidiary of VFD Group PLC. The bank provides high yield savings packages and low interest rates on loans. We are guided by the CBN Policy and Regulatory Framework for Microfinance Banks in Nigeria and International Best Practice of Micro Finance Banking Compliance.

We are recruiting to fill the position below:

Job Title: Head of Operations

Location: Lagos
Employment Type: Full Time

Job Summary

• The role will be responsible for the overall supervision of all operational units of the Company

Strategic Tasks

• Actively contribute to the development of the Bank’s corporate strategy
• Develop the departmental budget and contribute actively to the preparation of the Divisional budget
• Act as a technical resource person for the Bank, and provide guidance and leadership to subordinate teams to ensure effective execution of the department’s activities
• Develop necessary SLA agreements for the Operations Department
• Define the overall strategy for the operations team and guide execution

Operational Responsibilities

• Communicate the goals of the unit to members and ensure alignment of the unit’s activities with the Bank’s business objectives
• Coordinate the unit’s activities and ensure compliance with the Bank’s operating policies, controls and procedures
• Authorise transaction processing at designated checkpoints in order to ensure adherence with guidelines and control objectives
• Ensure the proper maintenance of all registers, books, and records of the unit’s activities
• Work with the finance team to ensure the timely processing, accurate raising of entries and update of the banking and accounting system
• Authorise key departmental expenditure/transactions in line with the Bank’s policy
• Conduct periodic departmental meetings to establish and communicate targets and work plans, consistent with the overall goals of the Bank
• Initiate periodic meetings and liaise with interfacing departments to define, appraise or revise service levels
• Ensure key human capital issues are resolved consistently across the department, in line with the guiding principles, policies, and practices established by the Bank
• Prepare and agree career development plans (in conjunction with the HR Department) and conduct periodic performance appraisal sessions with subordinate staff in line with stipulated career and performance management policies and procedures
• Regularly appraise the activities and functions of the department and make recommendations for improvement to the COO
• Recommend and participate in the review of the Bank policies and practices impacting the department
• Review the periodic reports prepared by the subordinate units/sub-units and ensure the timely generation/compilation and circulation of the agreed departmental report

Key Performance Indicators
Financial Target(Non-core):

• As advised from time to time

Non-Financial:

• Review of operation policies in line with agreed targets
• 100% performance in operational efficiency as measured by transaction timelines
• Level of alignment with defined policies.
• Timely circulation of hard and soft copies of customer statements and certificates with no errors.
• Achievement of 100% TAT on assigned task.
• 100% cost savings.
• Ensure timely signing of all documents and agreements sent to the unit in line with control requirements
• Above average performance in running the operations unit.
• Timely resolution of customer’s complaints.
• Compliance with Service Level Agreements (SLAs)
• Timely and error-free transaction processing
• Compliance with internal control and regulatory requirements
• Complete, accurate and timely generation of reports and regulatory/statutory returns

Specification/ Qualification

• First degree in any discipline/equivalent.
• Minimum Experience: 10-12 Years working Experience
• Professional Membership: MCP, CIBN, ICAN, ACCA CIBN
• Grade Alignment: Analyst 3 and Above

Competence Requirements
Core Skills:

• Very good knowledge and understanding of credit processing and policies.
• In-depth understanding of the organization’s business.
• Good finance, accounting, budgeting and cost control skills
• Good communication skills.
• Attention to details.
• Good Management abilities.

Generic Skills:

• Integrity
• Pro-activity
• Detail orientation
• Interpersonal
• Time Management
• Organisation
• Team work

Application Closing Date
Thursday, 18th April, 2019.

How to Apply
Interested and qualified candidates should send their CV to: careers@vfdgroup.com with the relevant position applied for as heading.