VisionFund Tanzania Microfinance Bank Ltd (VFT MFB) formerly known as SEDA is a fast growing and reputable Micro Finance Bank(MFB), that has a loan book of approximately TZS. 20 billion and more than 30,000 client base, more than 5,000 of whom are small holder farmers. VFT-MFB is seeking to employ a dynamic and committed Tanzanian young man or woman who has a passion for people’s economic development to fill in the vacant positions detailed here below;

Work Reference No. 015/22

Position: Chief Operations Officer

Reporting to: Chief Executive Officer

Responsibility:

The Chief Operations Officer (COO) provides overall leadership to VFT’s commercial business and ensures that the bank meets annual business targets as approved by the Board in the annual operational plan. The position holder is responsible for the develop­ment, review and Implementation of VisionFund Microfinance Bank Operations Strategy including market development, product development, disbursement plan, budgeting, people and performance management, risk and internal controls management to reduce VFT’s Operational Risk. The position ensures growth of the loan and deposits portfolio while enforcing compliance with country laws and regulations. The position holder also ensures that the banks products and services positively impact the lives of clients through VFT’s social performance framework. In addition, the position holder ensures that VFT work in close integration with World Vision Area Programs in fostering economic develop­ment for low income entrepreneurs.

Main tasks

1. Performance Management:

• Oversee the management and staff of the operations department to ensure that all branches and exceed the monthly and annual business targets. Mentor and coach Regional Managers for performance.
• Maintain a high standard of discipline within the operations department and ensure that all managers meet their targets on an ongoing basis.

2. Compliance with Banks Policies and Regulatory requirement:

• Manage the application of policies, norms and procedures at the branch level and supervise that business operations are working according to procedures.
• Ensure that all identifies gaps in compliance through internal audit and risk units are fully addressed within agreed timelines.

3. Department reporting:

• Perform analysis on financial indicators and provide reports for the CEO on these indicators including deposits, channels performance, disbursements, and client retention, growth of different products, and branch profitability and delinquency.
• Provide timely and accurate information and reports on a regular basis to the Chief Executive Officer and other senior management members of VFM as well as other stakeholders as required. These include VFM Board of Directors, Bank of Tanzania, VisionFund International etc.

1. Business Development

• Lead Branch network in ensuring that all business targets as approved by the Board are delivered which include, Loan Portfolio, Deposits, Clients and Revenue targets.
• Participate in Market Research in collaboration with the Marketing and Product Development Teams to determine the products and services appropriate for various customer segments.

5. Product and Systems Development

• Maintain and update the operations manuals of policies, procedures and norms annually;
• Evaluate the characteristics of the Loans, Deposit/Retail and other services and make necessary modifications (with the joint agreement of the management team).

6. Financial Planning and Management

• Develop annual plans and budgets for the Branch Network and expansion, incorporat­ing input from management team and branch managers.
• Approve branch expenses within the budget parameters;
• Fulfill all other functions and duties within the scope and intent of the job as maybe required by the CEO.

Required Qualifications:

• A minimum of Bsc in Business, accounting, finance or related area of study and minimum of ten years of senior operational management experience, preferably in a bank or microfinance institution. An MBA in business, accounting, finance or related area of study and minimum of seven years of senior operational management experi­ence, preferably in a bank or microfinance institution.
• Experience in strategic planning, budgeting, operations, deposit product and systems development, and risk management.
• Prior experience with innovative technology and channels is a plus (point of sale devices, ATMs, prepaid cards, mobile phone banking, internet infrastructure and banking, etc.)

About our working environment & remuneration:

VisionFund Tanzania Microfinance Bank has a calm and harmonious working environment where staffs are highly valued. Good work is recognized and rewarded accordingly and there is an opportunity to grow professionally and spiritually.

Mode of Application:

Interested and suitably qualified individuals should;

1. Forward their application letter, detailed CV’s with three referees, attaching certified copies of NIDA ID, academic and professional certificates; to vftHRstaff@vftz.co.tz.
2. All applications should be addressed to;

The Chief Executive Officer,
VisionFund Tanzania Microfinance Bank Limited
P.0. Box1546,
Arusha, TANZANIA.

3. The position should be the subject of the email application.
4. The deadline for the application is on 02ndSeptember, 2022.

N.B. Only short-listed candidates will be contacted.

Disclaimer

VisionFund Tanzania Microfinance Bank would like to inform the general public that it has not engaged any consultant/agent to conduct recruitment on its behalf.