Chief Operating Officer – Tanzania

About the role

The Chief Operating Officer (COO) will have overall strategic and operational responsibility for the efficiency and effectiveness of the Bayport operation as well as the branch infrastructure. He/ she will participate in the strategic planning process and will ensure the efficient running of the various departments. He/ she will be responsible for developing, implementing, and managing the operational aspects of the annual budget; driving sales targets to ensure its attainment; working closely with sales strategy and marketing to maximise sales revenue from sales execution; develop and maintain the sales force and ensure optimal market presence.

 

Responsabilities

  1. STRATEGIC INITIATIVES

 

Strategic Planning

  • Develops operational strategies and plans to achieve effective business growth in a quality debtor’s book and staffing levels in line with the Company’s strategic plan, budget, activities and objectives
  • Remains current with knowledge on the competitors environment 
  • In conjunction with the CEO and CFO, initiates, develops, implements, monitors, reports, evaluates and controls the Company’s’ strategic plan and related budget
  • In liaison with the CEO, implement necessary improvements across the Company’s operations to ensure the achievement of all strategic objectives
  • Develops communication channels with customers identifying new trends of distribution
  • Collaborates with the CEO in  product and service development
  • Provide creativity and innovation with regard to technological innovations and product development.
  • Manage the development of new products and any other strategic interventions in line with the strategic plan and budget

 

Develops Financial Strategy

  • Prepare detailed input on operations for incorporation into the annual budget
  • Track monthly performance to budget and take corrective measure where necessary
  • Improves efficiency of operations specifically operating costs and productivity of staff relating to the delivery of financial services  products

 

Works closely with Credit department to manage loan book

  • In collaboration with the CEO, carry out overall risk and credit analysis to minimise credit risk and exposure to any other risk factors that may adversely affect the Company’s operations and implement mitigating strategies
  • Collaborates with the Credit and Collection department to develop the Company’s credit process and policies to maximise market reach and profitability
  • Collaborates with the Credit and Collection department to develop a best in class collections operations to maximise the recovery of non-performing loans

 

Develops reporting standards and reports back on the business

  • Develops appropriate reporting, quality control standards and guidelines for the operation, in addition to complying with all reporting requirements in line the Group reporting, credit policies and procedures
  • Regularly reports and presents to the Board of Directors and CEO on the overall business performance and progress on strategy implementation, variances in achieving the business plan and actions to correct performance
  • Monitors, evaluates and reports on the progress of all loan products and associated costs of doing business
  • Recommends actions and responses to address trends

 

  1. OPERATIONAL

Day-to-day Management

  • Ensures the smooth running of sales distribution channels, IT, Marketing, Sales and Credit departments
  • Regularly reviews performance reports and take corrective actions
  • Identifies systemic issues for discussion and correction with all relevant parties
  • Efficient and cost effective delivery of the product to our customers
  • Maintains constant communications with the executive management team, department heads and the regional staff
  • Ensures that all management policies and procedures are effectively and timely communicated
  • Operational responsibility for the delivery of the approved annual budget and ensuring that business plans are translated into localised actions

 

Oversees Credit department

  • Establishes and supervises this function – responsible for quality control, processing, submissions, collections, arrears management and loan book management
  • Collaborates with the Credit Officer to develop the Company’s credit process, analytics and policies to maximise market reach and profitability
  • Collaborates with the Credit Officer to develop a best in class collections operations to maximise the recovery of non-performing loans

 

Oversees the IT department

  • Establishes and supervises IT department – responsible for the day-to-day maintenance and support of IT software, hardware, networks, hosting and disaster recovery requirements
  • Develops the Company’s IT infrastructure to maximise efficiency and contain costs
  • Oversees the implementation of any new application software

 

Risk and Compliance

  • Consistently applies the risk management framework and processes
  • Consistently reviews and updates the risk register ensuring that adequate measure are taken to mitigate risk

 

Oversees the Brand, Marketing and Communications department

  • Reviews and refines the Company’s integrated marketing and communication strategy in order to address the changing sales and marketing needs of the business and its ability to grow the business
  • Custodian of the Bayport brand and the Bayport Way

 

Ensures accurate reporting

  • Provides executives with factual and informative reporting for decision making purposes
  • Great emphasis is placed on communication to Group. Ensures that relevant and accurate information is communicated to Group proactively and in a timely manner

 

  1. PEOPLE MANAGEMENT

Manages Departmental Structure in Conjunction with HR

  • Structures the department in an efficient and systematic way
  • Ensures appropriate workflows are put in place for efficient operation of the department
  • Proactively plans the activities of the department and ensures timely execution
  • Ensures that the department is adequately staffed for execution of work
  • Attracts, retains and develops high calibre staff in all key positions
  • Directs the Human Resource and Training Coordinator and other key Management staff to develop, revise, test, improve and communicate all training and manage the complete and timely implementation

Manages and develops the team

  • Oversees the entire operations and provides necessary technical support to all direct reports
  • Ensures adequate morale and motivation to achieve set objectives
  • Introduces key performance management indicators in all Departments and Regions – sets operational performance objectives and targets for all direct reports in line with the Bayport Strategic plan
  • Informally and formally evaluates all direct reports
  • Assesses regular staff performance in regard to compliance with policies and efficiency of procedures
  • Prepares and conducts periodic formal performance evaluations of these staff in line with the Human Resources Management Policies and Procedures
  • Regularly reviews, monitors and ensures that there is an adequate number of staff at all times to fulfil the strategic objectives
  • Identify internal and external training opportunities and match them with the training needs identified

Manages customer service segment

  • Instils processes and strategies that safeguard high standards of customer service
  • Client protection principles must be incorporated into the local way of business
  • Reviews data trends extracted from the customer services department as input into the operational efficiency
  • Assesses regular staff performance in regard to compliance with policies and efficiency of procedures
  • Ensures adherence to Company policies and procedures
  • Maintain a well-trained staff capable of always performing to the highest standards, and providing complete services to customers at all times

 

  1. STAKEHOLDER ENGAGEMENT

Engage in the following forums:

  • The COO could be invited to present and participate in Board meetings
  • The COO will present and participate in the operational management meetings

 

Networking

  • Develops and nurtures mutually beneficial internal and external business relationships to assist and protect Bayport and to boost the Company image.

 

Experience and requiremn

  •  Tertiary qualification in business administration
  • MBA or post grad degrees in Sales/ Marketing focus is preferable.
  • 6-8 years’ previous experience in retail, preferably from a banking, financial services, micro lending, or mobile phone environment
  • At least 8 years’ experience in a similar position
  • A thorough understanding and knowledge of financial services and credit management principles
  • Knowledge of IT: IT governance, needs and requirements within a banking environment
  • Understanding of the end-to-end value chain presented to customers
  • Knowledge of all regulatory requirements of the specific industry
  • 3-5 years’ experience in running a sales force, agent and branch network
  • 3-5 years of financial industry experience

Client: