Rafiki Microfinance Head of Business Development Job

Purpose of the Job:

The job holder will be responsible for driving Rafiki MFB business development strategies towards growth of deposits, loans and revenues from existing and new customers in line with the Bank’s strategic goals. 

Duties and responsibilities: 

Strategic planning and Implementation 

• Responsible for overseeing the objectives and implementation of Rafiki MFB business development strategies and ensuring alignment to the overall business plan to sustain business growth and profitability. 
• Advice and support the CEO on all business development matters across Rafiki MFB market value chain as may be required. 
• Develop business development policies and recommend structures required to manage the business activities of the bank and its projected business growth. 

 Business Development 

• Prepare and guide budget plans for the department and branches based on business development targets and growth objectives. 
• Develop a focused business growth plan in line with the strategy, which boosts the Bank’s ability to increase the flow of business and generate deposits, loans and revenues from existing and new customers while ensuring high customer satisfaction and retention  
• Put in place an MIS system that will enable continuous tracking of the Business department performance, Customer and product profitability, and customer satisfaction. 
• Drive market and product research initiatives, competitive analysis, continuously assess internal strengths and weaknesses and recommend appropriate actions. 
• Formalize new business agreements and partnerships with identified key stakeholders to accelerate overall business growth and branches profitability. 
• Formulate targets and key performance indicators (KPI’s) aligned with business development strategies. 
• Lead identification of opportunities to optimize business processes and procedures for efficient service delivery. 
• Guide business development research reports on potential revenue streams and threats, 
• Regularly receive reports comparing actual performance versus budgeted sales and suggest corrective action if actual performance is below the budget. Follow up on achievements and provide updates to the CEO. 

Customer Experience 

• Responsible for seamless branches operations, analyses service quality levels of the department and recommends appropriate actions to correct week areas. 
• Develop and recommend to CEO new business initiatives aimed at improving efficiency and customer experience in the bank. 

Product development and Marketing 

• Work with the marketing team to create business strategies that boost bank and product awareness. 
• Recommend to the CEO for approval – competitive product pricing and positioning. 
• Safeguard and promote the bank’s image with the public. 

People Management 

• Provide quality leadership, which translates into conducive work environment and employee engagement and satisfaction at the branches. 
•  Provide leadership in performance management, employee development, talent management and building a work environment that drives high performance and employee engagement and satisfaction through coaching, mentorship, and training business development staff. 
• Motivate, drive and develop talent and high-performance culture in the department and Rafiki branches network. 
• Responsible for performance management of the department. 
• Prepare and maintain a management development plan, including a succession plan for the department. 

Knowledge, Skills and Experience required for this Role: 

• Bachelor’s degree in business administration, marketing, or related field.  
• Qualifications in sales and marketing an added advantage. 
• 9 – 10 years of experience in business development and growth, 5 of which should be at a senior management level, preferably in the financial industry. 
• Experience in managing budgets effectively, financial management, setting up effective metrics and business processes. 
• Analytical skills and ability to interpret banking, products and services sales performance and market trend information. 
• The individual should possess strong skills in leadership, problem solving, dispute resolution and Decision Making. 
• Leadership experience with a thorough knowledge of marketing principles, product and service management, sales and business development along with demonstrated track record of success and performance. 
• Proven ability and experience in managing and leading high performance management teams, coach and mentor while promoting creativity and innovation to achieve significant commercial business targets.  
• Ability to understand changing banking and financial market dynamics, translating them into actionable strategies and implementing the strategy to achieve pre-set objectives. 
• Credible and confident communicator with a high level of discretion and personal integrity.   
• Demonstrated ability to manage simultaneously multiple projects involving various stake holders and to deliver results within deadlines with excellent Planning and Organizing skills. 

How To Apply

Interested candidates are requested to send their cover letter and CV to hr@rafiki.co.ke quoting the position applied for on the e-mail subject on or before 24th March 2024 at 5:00pm.