Managing Director (Microfinance)

Our client is a Nigerian conglomerate with operations across various sectors, including banking, retail, FMCG, and construction. They are currently seeking to hire a Managing Director with strong expertise and a solid background in Microfinance.

Job Overview: The Managing Director is responsible for the overall strategic leadership, direction, and management of the Microfinance Bank. The MD ensures that the Bank operates in accordance with applicable regulatory frameworks (e.g., CBN, BOFIA, NDIC), achieves its financial and social objectives, and fosters sustainable growth while upholding sound corporate governance practices.

Key Responsibilies

Strategic Leadership & Governance

• Develop and implement the Bank’s strategic plan, policies, and business objectives.
  
• Lead the formulation and execution of financial, operational, and risk management strategies.
  
• Work closely with the Board to ensure alignment with corporate vision and long-term goals.
  
• Represent the Bank in regulatory, government, and stakeholder engagements.
  

Regulatory & Compliance Oversight

• Ensure full compliance with CBN regulations, BOFIA, AML/CFT laws, and other statutory obligations.
  
• Oversee timely submission of all regulatory reports and returns.
  
• Implement appropriate internal controls and corporate governance practices.
  

Operational & Financial Management

• Oversee the Bank’s day-to-day operations, ensuring optimal performance and efficiency.
  
• Monitor and drive profitability, cost control, and loan portfolio quality.
  
• Approve annual budgets and monitor performance against financial targets.
  
• Ensure effective credit risk management and loan recovery strategies.
  

Team Leadership & Human Capital Development

• Lead and mentor the executive management team.
  
• Promote a performance-driven culture and continuous staff development.
  
• Oversee recruitment, succession planning, and staff welfare initiatives.
  

Customer & Market Development

• Drive customer acquisition, product development, and digital banking initiatives.
  
• Build partnerships with development finance institutions (DFIs), fintechs, and other stakeholders.
  
• Ensure high standards of customer service and financial inclusion outreach.
  

Key Performance Indicators (KPIs)

• Achievement of financial targets (ROA, ROE, NIM, PAR ratios)
  
• Regulatory compliance and audit ratings
  
• Loan portfolio quality and recovery rates
  
• Customer base growth and retention
  
• Staff productivity and satisfaction
  
• Innovation and digital transformation metrics
  

Requirements

• Bachelor’s degree in finance, Economics, Business Administration, or a related field.
  
• MBA or Professional certification is preferred.
  
• Registration / membership to a relevant professional Body is an advantage.
  
• At least 10 – 15yrs experience with a minimum of 5yrs in a similar position.
  
• Strong knowledge of microfinance operations, CBN regulations, and financial inclusion strategies.
  
• Proven experience in microfinance, retail banking, or inclusive finance is highly desirable.
  
• Familiarity with relevant regulations (e.g., tax laws).
  
• Proficient in Microsoft Office and banking software/tools.
  
• Strong strategic thinking and execution skills.
  
• Excellent financial and risk management capabilities.
  
• Deep understanding of regulatory frameworks and corporate governance.
  
• Exceptional leadership, interpersonal, and communication skills.
  
• Track record of innovation and driving business growth.
  
• High ethical standards and commitment to social impact.
  
• Integrity, independence, and a proactive approach to work.