Opportunity

Head of Digital Financial Services

Lagos, Nigeria
Lirio, Roland Mr_Photo
Role managed by
Rolando Rivera Liro Researcher

About SRI Executive

SRI Executive is a leading executive search and strategy consultancy working with organisations in the International Development, Global Health, Social Impact and the non-profit sector. For over 20 years we have continually championed organisations who have committed themselves to making a lasting difference across the world. As specialists in identifying, assessing and securing exceptional high-level executives and having partnered with over 200 organisations placing leaders in 63 different countries, we not only understand the culture, values and ethos of the Developmental Finance and non-profit sector landscape, but also the specific requirements associated with it.

SRI Executive has been entrusted by our client, Enhancing Financial Innovation & Advocacy (EFInA), to support the executive search of an exceptional leader for the position of Digital Financial Services Lead.

About the Enhancing Financial Innovation & Advocacy (EFInA)

Enhancing Financial Innovation & Access (EFInA) is a leading financial sector development organisation working to promote financial inclusion in Nigeria. Established in late 2007, EFInA’s vision is to be the leader in facilitating 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.

EFInA is well renowned within Nigeria’s financial sector for providing thought leadership in financial inclusion and championing the unbanked. Through funding and catalysing innovation, providing cutting-edge research, advocating for enabling inclusive policies and building capacity, EFInA has built a reputation as an ‘honest broker’ amongst both the private and public sectors.  Data from the EFInA Access to Financial Services in Nigeria surveys was a key source of information in the development of the Central Bank of Nigeria’s National Financial Inclusion Strategy; and is also widely used by a diverse range of stakeholders, including regulators, as a benchmark for financial inclusion in Nigeria. Furthermore, financial services providers use EFInA’s research to develop a range of relevant financial products through gaining insights and understanding of consumers’ needs.

EFInA aims to achieve its goals through four pillars namely: Research, Innovation, Advocacy and Capacity Building.

You can find more details on their website www.efina.org.ng/,

 

Head of Digital Financial Services Role Profile

The role Head of Digital Financial Services is critical for the success of EFInA. Reporting directly to the CEO, the Head of Digital Financial Services will:

  • Develop and drive EFInA’s DFS footprints in Nigeria
  • Support the sourcing & structuring of DFS- related Technical Assistant Grants or Innovation Grants

Duties and Responsibilities

The Head of Digital Financial Services, will have the following key responsibilities:

  • Conduct 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 EFInA’s strategic focus
  • Develop and implement EFInA’s DFS strategies from a business perspective through the identification, understanding and use of research, distribution strategies, cost structures, revenue streams, technology options and stakeholder engagement
  • Understand various legal, regulatory and policy frameworks that govern the Nigerian financial services sector
  • Understand global DFS trends, emerging business practices & innovations and leverage same to deepen DFS in Nigeria
  • Define regulatory requirements for DFS by engaging the regulators in order to provide input on policies, consumer protection, risk management e.t.c. 
  • Work with the Policy Lead in supporting the development and implementation of relevant DFS policies
  • Identify technical assistance gaps using analysis from stakeholder engagement and industry research, develop strategies that will enable stakeholders to utilise electronic channels and support the implementation of such strategies
  • Work with the Policy/Research team to provide input to EFInA’s A2F Survey and other research projects
  • Disseminate research findings to key external stakeholders and ensure that they are used to inform policy reforms,  stimulate innovation in order to inform development  of  inclusive products  and effectively  increase the uptake of electronic payments and agency banking, in line with EFInA’s strategic objectives
  • Interact closely with stakeholders to build their technical capacity for the utilisation and scale-up of DFS in Nigeria
  • Identify and address pertinent issues surrounding supply, demand and uptake (by customers) of DFS products through the Working Group/ Breakfast Meetings
  • Forge and maintain effective partnerships with key regulators in order to ensure that they develop an enabling environment to drive financial inclusion agenda in Nigeria
  • Identify and understand different market segments such as FMCG, telecommunication, transport & logistics services and identify ways to leverage these business segments for DFS  uptake in Nigeria
  • Contribute 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
  • Support the Communications Specialist and Policy lead in developing and executing effective marketing strategies for key stakeholders that increases 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 Chief Executive Officer
  • In conjunction with the Programmes Lead, identify and develop a pipeline of projects related to EFInA’s Cross-Cutting themes of Women, Northern Nigeria and Financial Capability for the Innovation Fund; review relevant grant applications and make funding recommendations
  • Manage the budget and track expenditure for the DFS programme, as directed by the Chief Executive Officer
  • Anticipates the Financial Sector data and market research needs and work with the Programme Specialists, Electronic Payments and Agent Networks to develop targeted DFS content
  • Oversee Specialists to ensure that EFInA develops and executes its DFS strategy
  • Manage 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 and agency banking space
  • Lead,  coach,  and  mentor  the  Specialists  & Associate   to  ensure  customer  focus  and  high standards of delivery
  • Ensure that any output from the DFS team meets EFInA’s high standards of delivery
  • Work with the HR & Admin Officer to develop annual training plans for the DFS team for approval by the Chief Executive Officer
  • Monitor, manage and report on the performance of Programme Specialists and Associate, including setting performance objectives and timelines, and conducting monthly reviews and annual performance appraisals
  • Performs any other duties as required by the Chief Executive Officer

Required Competencies

  • Deep Financial Services Industry Knowledge
  • Understanding of business landscape (regulatory, legal & policy frameworks) that govern mobile money/ electronic payments & agents’ networks in Nigeria
  • Sound strategy formulation and implementation skills
  • Ability to forge partnerships across stakeholder groups
  • Ability to understand and use quantitative data
  • Strong Stakeholder engagement & management skills
  • Strong analytical & problem solving skills
  • Excellent communication skills
  • Attention to details

Qualification and Experience

Educational Qualification

  • Master’s degree in International Development, Economics or other related discipline

Professional Qualification

  • Certification in any global Banking Certification

Desired Experience

  • 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
  • Experience in front facing roles that required customer interaction
  • Experience in initiating and implementing strategy from end-to-end from a business perspective
  • Experience with deploying technology to expand access to mobile financial services for the low-income
  • Robust network among key stakeholders
  • Product design/development experience
  • Project management experience and relevant certification

Terms of Appointment

This is a full-time and permanent position with the successful candidate being contracted on a two-year basis with the possibility of renewal. Salary is competitive and commensurate with qualifications and experience. A pension plan, life and medical insurances are included in the benefits package.

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 Roland Lirio at [email protected] on or before the 19th April 2019. 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.

Application form