Head of Operations at VFD Microfinance Bank

VFD Microfinance Bank is a subsidiary of VFD Group PLC. The bank provides high yield savings packages and low interest rates on loans. We are guided by the CBN Policy and Regulatory Framework for Microfinance Banks in Nigeria and International Best Practice of Micro Finance Banking Compliance.

We are recruiting to fill the position below:

Job Title: Head of Operations

Job Summary

The role will be responsible for the overall supervision of all operational units of the Company

Strategic Tasks

Actively contribute to the development of the Bank’s corporate strategy
Develop the departmental budget and contribute actively to the preparation of the Divisional budget
Act as a technical resource person for the Bank, and provide guidance and leadership to subordinate teams to ensure effective execution of the department’s activities
Develop necessary SLA agreements for the Operations Department
Define the overall strategy for the operations team and guide execution

Operational Responsibilities

Communicate the goals of the unit to members and ensure alignment of the unit’s activities with the Bank’s business objectives
Coordinate the unit’s activities and ensure compliance with the Bank’s operating policies, controls and procedures
Authorise transaction processing at designated checkpoints in order to ensure adherence with guidelines and control objectives
Ensure the proper maintenance of all registers, books, and records of the unit’s activities
Work with the finance team to ensure the timely processing, accurate raising of entries and update of the banking and accounting system
Authorise key departmental expenditure/transactions in line with the Bank’s policy
Conduct periodic departmental meetings to establish and communicate targets and work plans, consistent with the overall goals of the Bank
Initiate periodic meetings and liaise with interfacing departments to define, appraise or revise service levels
Ensure key human capital issues are resolved consistently across the department, in line with the guiding principles, policies, and practices established by the Bank
Prepare and agree career development plans (in conjunction with the HR Department) and conduct periodic performance appraisal sessions with subordinate staff in line with stipulated career and performance management policies and procedures
Regularly appraise the activities and functions of the department and make recommendations for improvement to the COO
Recommend and participate in the review of the Bank policies and practices impacting the department
Review the periodic reports prepared by the subordinate units/sub-units and ensure the timely generation/compilation and circulation of the agreed departmental report

Key Performance Indicators
Financial Target(Non-core):

As advised from time to time

Non-Financial:

Review of operation policies in line with agreed targets
100% performance in operational efficiency as measured by transaction timelines
Level of alignment with defined policies.
Timely circulation of hard and soft copies of customer statements and certificates with no errors.
Achievement of 100% TAT on assigned task.
100% cost savings.
Ensure timely signing of all documents and agreements sent to the unit in line with control requirements
Above average performance in running the operations unit.
Timely resolution of customer’s complaints.
Compliance with Service Level Agreements (SLAs)
Timely and error-free transaction processing
Compliance with internal control and regulatory requirements
Complete, accurate and timely generation of reports and regulatory/statutory returns