FINCA International Transformation Consultant Job Vacancy in Malawi

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;
  • Human resources
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.
FINCA
International Inc. is an Equal Opportunity Employer.
How to Apply
Interested candidates are required to follow the
link below to apply
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