Location : Rufunsa (H/Q)
Position: : Chief Operating Officer (COO)
Reports to : CEO
Minimum Qualification : Degree in Business, Finance, Economics, or related field
The Company
UMINO Community Loan Services is a private company limited by shares that provides financial services to rural parts of Zambia. UMINO is an acronym derived from ‘UMoyo wa bwINO’ which means a ‘good life’ and provides Small and Medium Enterprise (SME) loans.
Currently, UMINO is operating using a Money Lenders’ license, with registration as a non-deposit taking Microfinance Institution (MFI) regulated by the Bank of Zambia.
UMINO provides loans to Small and Medium Enterprises (SMEs) in the Eastern part of Zambia. UMINO currently has more than 2000 clients across six branches covering ten (10) districts namely, Rufunsa, Luangwa, Nyimba, Petauke, Sinda, Katete, Lundazi, Lumezi, Chadiza and Vubwi.
Job Overview
The Chief Operating Officer (COO) will be part of the management team of the Company. She or he will specifically focus front to back on the lending operations carried out from the Company’s branches. The main responsibility will include implementing, overseeing and refining of the operations strategy to the highest quality. The candidate will develop and document operational procedures in the Operations Policy (Manual), lead implementation and ensure compliance as the first line of defence.. As part of the management team, s/he will closely partner with the CEO and provide input to the development of the overall institutional strategy and plans, and in its implementation.
Requirements
1. Degree in business, finance, economics, or related field
2. Good knowledge and experience of (microfinance) operations and (digital) service delivery/maintenance
3. At least 5 years of experience in a management position, preferably in microfinance, SME banking or a related area
4. Highest levels of personal integrity and honesty and excellent communication and team building skills
5. Relentless client focus and willingness to travel extensively
6. Good leadership, supervision, analytical skills as well as ability to propose improvements to operational processes and procedures to achieve increased efficiency and compliance.
Responsibilities
Overall management of field operations and problem solving as required. This includes, but is not limited to:
1. Overseeing field operations and managing resources
1.1. Supporting CEO in the planning process of branch operations in accordance with UMINO operational plan.
1.2. Collaborating in the creation of the Operations Plan/Strategy and in the Branch Management/Staff Mentoring/Capacity Building plans and their corresponding updates.
1.3. Overseeing branches to assure efficient use of branch resources (staffing, fixed assets, time allocation – including leave planning, travel, cost control, etc.) and escalating any efficiency issues to CEO if existing strategies may not be working.
1.4. Building capacity of branch teams in the implementation of their respective plans using a range of methods (formal training or information sessions as well as coaching and mentoring both in person and remotely); assuring that branch management and staff capacity building plans are implemented; liaising with other departments to support branch teams;
1.5. Ensuring effective coordination between branches and other departments in the Company, including MIS/IT, Finance, HR and general administration.
1.6. Establishing good working relationship with local councils, traditional leaders, other local/regional authorities.
2. Analysing and documenting progress toward branch operational targets/objectives
2.1. Ensuring timely flow of accurate information between branches and head office using MIS and approved report templates; propose digitalization opportunities or changes to the templates to improve the quality of information;
2.2. Identifying any gaps that may prevent branches from reaching the targets and addressing them in a timely and efficient manner;
2.3. Monitoring progress toward monthly, quarterly, and annual targets for the branches, in terms of profitability, efficiency (productivity), and portfolio quality in close co-ordination with CEO and CFO;
2.4. Monitoring and anticipating any adverse developments/events that may have significant negative impact on UMINO clients’ livelihoods and/or UMINO operations.
2.5. Regular (weekly, monthly, quarterly, annual) reporting to CEO.
2.6. Providing input into the design of new products and services as required.
3. Assuring quality and compliance of operations
3.1. Ensuring full compliance with UMINO Operations, Human Resource, IT, and Finance Policies and strengthening the quality of branch operations.
3.2. Maintaining excellent quality of UMINO’s loan portfolio and implementing appropriate strategies to achieve that, following up on arrears in an appropriate, efficient, and timely fashion.
3.3. Assuming First Line of Défense responsibility for front-to-back client monitoring and compliance across all branches, thereby closely co-operating with Compliance, Internal Audit, External Audit
3.4. Overseeing branch compliance with the approved budgets and tracking branch-level Operational Self Sufficiency (OSS);
3.5. Branch quality of operations monitoring should include both desk review of branch reports, regular field trips, including visits of branch offices and individual clients as well as relevant documentation spot checks (e.g. client cash flows, client collateral, client repayment booklets, client record keeping etc.); at least a half of COO’s working time should be spent in the field
3.6. Making suggestions on the design and optimisation of operational processes and procedures to achieve increased efficiency, better compliance and improve information flow between various positions within the operations department and among UMINO departments (finance, IT, HR, , internal audit);
3.7. .
4. Carrying out operational tasks (projects) as assigned by CEO.
4.1. Support the CEO and the board on selected projects.
4.2. Act as deputy to the CEO as delegated.
Line Management & Reporting
The Branch Managers (BMs) will report to the COO.
The COO reports to the CEO.
The COO liaises with all members of UMINO management team (CFO, IAM, HRM and ITM).
Applications and detailed curriculum vitae should be sent to: o.njebe@uminomicrofinance.com
Closing date for applications is Sunday, 19th November 2023.
Applications and detailed curriculum vitae should be sent to: o.njebe@uminomicrofinance.com
Closing date for applications is Sunday, 19th November 2023.
