Job Description
Select Africa Limited is an Isle of Man company, established more than 20 years ago with the intention of owning a number of retail financial services businesses in Africa, outside of South Africa. It is the holding company of the Select Africa group of companies (“Select Africa”). The controlling shareholder of Select Africa Limited is the African Alliance Group – an investment banking group owned by management and also operating in Africa. Select Advisors Limited is the South African
affiliate of Select Africa. The business focusses on financial services, including property development (www.malkernssquare.com ) in Africa and ccurrently owns loan book operations in Eswatini, Lesotho, Kenya, Uganda and Malawi. Select Africa is a supplier of both housing and housing micro-finance solutions, utilising various collection mechanisms but primarily that of a salary deduction model.
A key element of Select Africa’s strategy is to aggressively grow its scale of operation over the next four to five years. This involves both the growth of existing operations and the startup of operations in new African countries. The senior leadership of Select Africa is intensely focused on the creation of a meaningful financial services group within a relatively short time frame.
The culture of the group is one of young professional pioneers, who aggressively seek out entrepreneurial opportunities and look to deliver profitable performances with no excuses for non-delivery of agreed upon targets. This requires team players who are self-driven and motivated.
The business is staffed by individuals that are extremely diligent in terms of detail, systems, collections, service and strategy execution. The operating standards are already those of a listed company.
There are many challenges in doing business in Africa, but our team views these as opportunities and seeks ways of dealing with the many obstacles in our way. This requires a “can do” attitude and a problem-solving outlook with a determined approach to achieving goals. All prospective staff should have a passion for Africa and believe in its prospects.
Main Purpose of the Role
The Chief Operating Officer (“COO”) will, in conjunction with the Chief Executive Officer (“CEO”), be expected to play a lead role in the day-to-day running of the business in Malawi including providing direction and leadership toward the achievement of the organisation’s strategic business plan objectives and annual goals.
Key Deliverables of the Chief Operating Officer
1. Product and systems knowledge
a. Ensure full understanding of Select’s operating systems and applications and become the custodian of Select Malawi’s product and systems knowledge.
b. Ensure that all staff are appropriately trained and updated in terms of product and system knowledge.
2. Deal inflows and processing:
a. Ensure that all relevant staff are appropriately trained on the deal origination processes.
b. Ensure that all client applications and deals received per branch and per agent are appropriately logged and that volumes and speed of processing is regularly monitored and managed.
c. Ensure that deal turnaround time from receipt to disbursement
is appropriately monitored and managed.
d. Ensure that all deals are loaded onto PSM with correct instalments and terms recorded prior to disbursement.
e. Facilitate the audit of all deals received to ensure compliance and to ensure zero tolerance for audit errors.
f. Ensure that all consolidation deals are recorded, cheques are collected and deposited to the respective supplier’s accounts, third party settlement letters are prepared, applicable third party uploads are cancelled before disbursement of the alance of the application and turnaround time herein is closely monitored and managed.
g. Ensure that bank letters for disbursements are prepared, signed and delivered to all banks on time and whenever there is a delay liaise with the service centres to avoid clients calling in enquiring about their money.
3. Collections functions:
a. Maintain overall responsibility for effective management of the entire credit control function.
b. Daily monitoring and management of credit control activities and results.
c. Daily, weekly and monthly reporting on collections results.
4. Operational management
a. Maintain overall responsibility for the entire back office team and their respective functions.
b. Operationally monitor internal and external customer service levels, in consultation with any identified internal and external stakeholders.
c. Recommend strategies for improving operations of the department.
d. Maintain ongoing and updated knowledge of all Standard Operating Procedures (SOP’s) and become the custodian thereof.
e. Prepare weekly and monthly reports including overseeing monthly internal audit reports.
f. Arrange management meetings and provide input to steer the business towards achieving its objectives.
g. Maintain responsibility for management of the company’s assets, including motor vehicles and computer equipment.
h. Track pool car usage, expiry date for tax clearances and insurances and ensure that the vehicles are serviced and road worthy at all times.
i. Maintain control and oversight over all creditors’ payments.
5. Staff management
a. Conduct staff training from time to time and provide ongoing support.
b. Management of the performance of all members of your team, including drafting, monitoring and evaluating key performance indicators for each role within the team.
c. Aligned with this, you will also be responsible for regular assessment of individual performance,
including formal performance appraisals and management of poor performance.
6. IT and physical environment
a. Maintain responsibility for all IT functions and the physical environment within the business, in consultation with Group IT.
b. Identify and attend to any queries on the system timeously.
7. Provide support to CEO
a. Provide operational support to the CEO, as may be required from time to time, in addition to the aforementioned functions and responsibilities.
b. Fulfil the role of CEO role in cases where the CEO is unavailable, on leave or incapacitated. The extent of this role is outlined below.
Key Deliverables of the COO
1. Growth and development of the Select business within Malawi
a. Prepare and continuously maintain a comprehensive business plan and annual budget.
b. In association with the support services at the Select Head Office in Johannesburg, develop and implement sales and marketing campaigns in order to drive loan book growth in a ost effective manner and in-line with set targets.
c. In association with the support services at the Select Head Office in Johannesburg, develop and implement appropriate operational strategies and plans.
d. In association with the support services at the Select Head Office in Johannesburg, develop and implement appropriate collections management strategies and plans.
2. Financial, Tax and Risk oversight
a. As per point 1(a) above, recommend a yearly budget for Board approval and prudently manage the organisation’s resources within the budgeted guidelines and relevant laws and regulations.
b. Manage the results and resources of the company in accordance with approved budgets.
c. Ensure that the operation is up to date on all relevant legislation and regulations and report appropriately and timeously to all relevant authorities.
3. Human Capital
a. Effectively manage Human Capital in accordance with a high performance culture and within authorised policies and procedures.
b. Oversee the development of Select Malawi’s staff in all areas to ensure their growth and harmonious integration into the teams.
c. Provide relevant training and development to all staff to ensure that they are competent in their respective roles.
d. Recruit and hire effective staff in order to grow the company and achieve stated goals.
e. Manage the performance of the team and their results.
4. Community and Public Relations
a. Ensure that the image of the organisation is consistently presented in a strong and positive light to relevant stakeholders.
b. Develop and maintain strong relationships with Government and the private sector.
c. Glean market intelligence through developing a network of contacts.
d. Develop and maintain relationships with potential and existing local funders.
5. Organisational culture, values and reputation
a. Maintain and develop our corporate culture, values and reputation in the market and with our staff, customers, suppliers, partners and regulatory bodies.
6. Infrastructure
a. Enhance processes and infrastructure to allow the organisation to grow and achieve its goal.
b. Work with Group IT to ensure ongoing maintenance and readiness of office information systems and infrastructure.
c. Manage physical infrastructure, as well as all data and intellectual property, within the domain.
7. Office Management:
Oversee day-to-day administrative functions to ensure smooth daily operations.
8. Report to the Shareholders/Board and the Executive Management Team on organisational plans and performance.
Reporting Structure
The COO will report to the CEO, Malawi.
The Candidate
We seek the following in our desired candidate:
Qualification Requirement
A relevant tertiary qualification is essential.
2. A post graduate qualification will be advantageous.
Experience / Background Preference
1. The company will only look at candidates who have no less than FIVE to TEN years relevant, working experience.
2. Extensive experience in the financial services sector is essential.
3. Experience in the Microfinance industry will be advantageous.
4. Previous exposure to Africa will be highly advantageous.
5. Solid management, accounting and legal skills are essential.
6. Previous Collections experience will be advantageous.
7. Knowledge of Malawi and general Microfinance laws relating to financial services, particularly with regard to Microlending is essential.
8. A strong command of English, both written and verbal is a requirement of the job.
Key Competencies
The successful candidate will need to demonstrate the following:
1. Determination to win and be the best.
2. Extraordinary and proven people management and leadership kills, preferably with people from different cultures and countries.
3. Above average EQ and substantial experience in the leadership of teams.
4. Self-assurance and a confident manner.
5. Excellent interpersonal and communication skills, both verbal and written.
6. Ability to engage with clients at the highest level of decision-making.
7. The ability to influence and persuade others.
8. Strong analytical skills, with the ability to assess complex situations
and use creativity to solve problems.
9. Established negotiation skills.
10. Strong presentation skills.
11. A self-starter who is proactive, shows initiative, displays high levels of self-motivation and assumes responsibility for projects.
12. Proven ability to operate independently and exercise significant latitude for independent judgment, discretion and action.
13. Strong time management skills – the ability to prioritise and handle multiple tasks within strict time frames within a fast-paced environment.
14. High energy levels.
15. Strict attention to detail.
16. Strategic thinking.
17. The ability to debate in a constructive manner and to challenge conventional wisdom.
18. The ability to build strong relationships with team members, company management and clients.
19. A strong work ethic.
20. Be alert to changing situations, show flexibility in approach, adaptability in difficult circumstances and continuously strive to achieve meaningful results.
Location
The post is based at our Malawi Head Office located at Ground Floor, Centre House Arcade, Robert Mugabe Crescent, Lilongwe.
By nature of this position, traveling will be required and valid driver’s license is a requirement for this position. In this role, travel will be required to branches and satellite branches within Malawi as well as travel to other countries from time to time.
Interested candidates who meet the above requirements should send their applications together with a detailed Curriculum Vitae, to kafwambaa@selectafrica.net
If you do not hear from us within two weeks, please consider your application for this particular vacancy unsuccessful. In this instance, please be assured that we shall retain your application and will be in touch should a suitable opportunity arise in the future.
The closing date for applications is 29th August, 2024.
Compensation
An annual cost to company remuneration package, which will be commensurate with the technical skills and experience of the successful candidate.