Digital Financial Services, Lead
About the Enhancing Financial Innovation & Access (EFInA)
Enhancing Financial Innovation & Access (EFInA) is a financial sector development organization that promotes financial inclusion in Nigeria. Established in late 2007, our vision is to be the leader in facilitating the emergence of an all-inclusive and growth-promoting financial system. EFInA is funded by the UK Government’s Department for International Development (DFID) and the Bill & Melinda Gates Foundation.
Market Making: EFInA aims to promote financial access through market development by catalysing the provision of appropriate services at an affordable price to those who are currently excluded.
Holistic Approach: EFInA seeks to impact the market at three levels: micro (the level of service providers, such as deposit money banks, microfinance banks/institutions, non-bank financial institutions, technology providers, mobile telecommunications operators, and payment services providers); meso (the financial infrastructure required for the functioning of service providers, such as credit bureaux, technology platforms, auditors, payment systems and connectivity) and macro (the enabling environment that encompasses legislation, regulation and supervision).
Mutually Reinforcing Core Activities: EFInA’s activities are designed to form a mutually reinforcing “virtuous circle”, where one activity feeds into another to change the way that the market operates.
Vision and Mission
To make Nigerian financial system work better, especially for the poor.
To be the leader in facilitating the emergence of an all-inclusive and growth-promoting financial system
Digital Financial Services, Lead
The Enhancing Financial Innovation & Access (EFInA) (http://www.efina.org.ng/) has retained SRI Executive Search (www.sri-executive.com) to assist with their search for an exceptional candidate to fill the position of the Digital Financial Services, Lead.
The role of Digital Financial Services, Lead is critical for the success of EFInA. Reporting directly to the CEO, the Digital Financial Services Lead will:
- Deepen and scale-up Digital Financial Services in Nigeria through the use of research, identification of alternate delivery channels, stakeholder (FSI regulators & providers) engagement and capacity building, technology and technical assistance.
- Support the sourcing & structuring of DFS- related Technical Assistant Grants or Innovation Grants.
Duties and Responsibilities:
The selected candidate will be responsible for the following tasks:
- Conducts assessments of the DFS landscape in Nigeria to order to understand the DFS landscape (products, processes & channels) in Nigeria and identify opportunities to deepen DFS and develop annual strategic focus
- Understands and defines regulatory requirements for DFS and engage Financial Service Industry (FSI) regulators to provide advisory on policies, consumer protection, risk management etc.
- Identify technical assistance gaps using analysis from stakeholder engagement and industry research
- Develops strategies to enable stakeholders utilise electronic channels and support the implementation of such strategies
- Identifies and addresses pertinent issues surrounding supply & demand of DFS products through the Working Group/ Breakfast Meetings
- Works /interacts closely with stakeholders to build their technical capacity for the delivery and scale-up of DFS in Nigeria
- Understands the global electronic payments industry trends and emerging practices & innovations and leverages same to deepen DFS in Nigeria
- Identifies and understands different market segments such as telecommunication, transport & logistics, FMCG, Oil & Gas, Construction services and identify ways to leverage these business segments for DFS uptake in Nigeria
- Anticipates the Financial Sector data and market research needs and works with the EFInA team to develop targeted DFS content
- Contributes to the development of the financial inclusion sector and EFInA’s position as a thought leader by writing position papers/ focus/strategy notes, for advancing financial inclusion in Nigeria through Digital Financial Services
- As required, contribute to EFInA’s knowledge management by facilitating knowledge sharing sessions, creating training materials and ensuring these materials are consistently saved to the Group Folder for ease of reference and retrieval of information
- Supports the Communications Specialist in developing and executing effective marketing strategies for key stakeholders that increase awareness of the issues limiting the growth of financial inclusion and provide recommendations for addressing these issues
- Represents EFInA and deliver presentations at public events, as directed by the General Manager
- Oversees Specialists to ensure that EFInA develops and executes its DFS strategy
- Manages Specialists to document the status of Agent networks & Electronic payments/Mobile money in terms of key stakeholders, industry associations, policies, regulatory framework, impediments to growth, and barriers to access for the low-income population
- Ensures that the Specialists keep abreast of major developments in the DFS space by staying ahead of emerging issues, trends and opportunities in the electronic payments space
- In conjunction with the Grant Manager, identifies and develops a pipeline of projects related to women, Northern Nigeria and financial capability for the Innovation Fund; review relevant grant applications and make funding recommendations
- Manages the budget and track expenditure for the DFS programme, as directed by the General Manager
- Performs any other duties as required by the General Manager
- Leads, coaches and mentors the Specialists & Analyst to ensure customer focus and high standards of delivery
- Develops annual training plans for the DFS team for approval of the General Manager
- Monitors, manages and reports on the performance of Programme Specialists, including setting performance objectives and timelines, and conducting monthly reviews and annual performance appraisals
Required Experience and Qualifications:
The ideal candidate should hold a Master's degree in International Development, Economics or other related discipline.
Certification in any global Banking Certification
- Minimum of 10 years’ operational experience in DFS in Nigeria preferably with at least 5 years of direct experience in the use of technology to expand reach of mobile financial services to the low-income
- Strong awareness of the legal, regulatory & policy frameworks that govern Financial sector experience (banking/management consultancy/development/research
- Project management experience and relevant certification
- Deep Financial Services Industry Knowledge
- Understanding of business landscape (regulatory, legal & policy frameworks) that govern mobile money/ electronic payments & agent networks in Nigeria
- Agent Network Management
- Familiarity with technology platforms & business models associated with electronic payment services
- Ability to build partnerships across stakeholder groups
- Market Research
- Sound strategy formulation and implementation skills
- Strong Stakeholder management and engagement skills
- Strong analytical & problem-solving skills
- Excellent Communication skills
Terms of Appointment
This is a full-time position with the successful candidate being contracted on a funding-cycle based contract. Salary is competitive and commensurate with qualifications and experience.
If you wish to be considered for this position, please forward a copy of your CV and a supporting letter in Microsoft Word format, along with any relevant documentation to Ms. Carol Mallari at [email protected] All information will be in the strictest confidence as we pride ourselves on our professional service. We will revert to you as soon as feasible when we have reviewed your application.