Financial Development Officer

Financial Development Officer

We are seeking a skilled professional to join our team as a Financial Development Officer. In this role, you will be responsible for managing financial development projects and programs.

Job Description:

In this position, you will be responsible for the following key areas:

• Due Diligence and Investment Preparation (60%):
  • Respond to inquiries from prospective borrowers; support them to apply for our facility/investment products.
  • Introduce investment products to entrepreneurs, explaining requirements for repayment and seriousness of taking on debt financing.
  • Conducts investment appraisal, collects detailed information (personal, business, guaranties), and arranges to open new investment account.
  • Prepares and executes investment contracts and arrange for disbursement of investment in kind.
  • Conduct due diligence on prospective borrowers, including site visits, document preparation, coordination with Business Development Advisors and Business Associates, etc.
  • Communicate all materials to Portfolio Manager, and assist in preparing credit reports for Investment Committee meetings.
  • Take photos of entrepreneurs, have them sign photo waivers, and ensure entrepreneurs' stories are posted on the Kiva platform for fundraising with all correct information.

Portfolio Management (20%):

• Offer excellent customer service through daily conversations, correspondence, and site visits as needed to maintain strong positive relationships with borrowers.
• Work with the Kenya Business Development Services team to ensure borrower success, and Visit clients for monitoring.
• Maintain both delinquency and default rates below set rates during yearly goal setting.
• Track information about borrowers and communicate effectively with key stakeholders about client status.
• Actively participate as a key staff in the weekly Portfolio Review Meeting.
• Maintain a tracking system of borrower payments and contact information.
• Work with the Finance & Admin team to produce invoices for payments and monthly reconciliation of investment department transactions.
• Interact with government leaders, court systems and others for follow up on lack of payments.
• Ensure that we are adhering to the requirements of our Kiva partnership, including reporting and journaling.
• Other duties as assigned by supervisor.

Investment Management System (20%):

• Update both disbursements and investment repayments in the Investment Management System (CBS-powered by mifos).
• Maintain and demonstrate proficiency with investment software applications.
• Work with system providers to utilize applications to fullest capacity, streamlining processes and procedures, ensuring accuracy and compliance.
• Assist with system parameters and design to meet the needs of multiple departments.
• Manage user security access.
• Ensure proper segregation of duties, develop and maintain work flows for all stages of investment.
• Advise the Management team how to automate key lending processes.
• Ensure posting of payment, payoffs, and balancing in Core Banking System.
• Participates in the review and recommendations of operational systems and procedures.
• Successfully interact with lending staff to improve accuracy and efficiencies of Investment management system.
• Prepare related reports and administer the system.
• Other duties as assigned by supervisor.

Required Skills and Qualifications:

The ideal candidate will possess the following skills and qualifications:

• University degree in Finance or other related field.
• Must speak fluent English and Swahili. Knowledge of local language is a plus.
• Experience in Islamic lending and practice is an added advantage.
• Strong financial and accounting skills; familiarity with business financial policies in Kenya.
• Experience in investment management, microfinance, capital leases, and access to finance for Micro businesses and SMEs is STRONGLY preferred.
• Prior experience dealing with customers/debt.
• Prior experience in a lending environment.
• Experience providing business advice to entrepreneurs.
• Prior experience in Investment management system software.
• Decisive individuals with ability to deliver unpleasant messages to the debtors and assertive enough to get the debtors pay off the entire debt.
• Experience in managing difficult clients and reaching positive outcomes.
• Very strong attention to details and good follow through.
• Comfort with the civil court system, and previous experience in litigation preferred.
• Unrelenting perseverance, personal integrity, and critical thinking skills.
• 4+ years of work experience in relevant or applicable field.
• Must be able to legally work in Kenya.

Benefits:

This role offers a competitive market-based package, including:

• Incredible company culture, including deep investment in your learning and growth, and a commitment to inclusion and diversity.
• Opportunity to work with a talented, passionate, and committed team of professionals across the region.
• Ability to make a significant social impact and contribute to economic growth.
• Competitive salary, and potential KPI-based bonus.
• Favorable policies like health insurance, staff savings program, parental leave, sabbatical program, and more.

How to Apply:

If you're excited about this role, please submit your cover letter and CV through the application portal. Tell us about what you'll bring to this growing company.