Director of Operations at Umutanguha Finance Company Plc: (Deadline 18 March 2024)
INTERNAL AND EXTERNAL RECRUITMENT
ADVERTISEMENT OF ONE (1) VACANT POST TO THE POSITION OF DIRECTOR OF OPERATIONS
UMUTANGUHA Finance Company (UFC) Plc, a company duly registered in the office of the Registrar General under company code number 101310843, licensed by National Bank of Rwanda to operate as Micro Finance Institution in Rwanda headquartered in Kigali, Opposite Nyamirambo Stadium, House # 177, KN2 Avenue, P.O Box 2998 Kigali, Tel 0788387730, email: info@ufinance.co.rw.
Umutanguha Finance Company Plc (UFC) is a public company limited by shares, it is a microfinance institution which was established in 2003 first as a Saving and credit cooperative, which transformed into a Union in 2006 and later on in 2013 as a public company limited by shares.
Since 2013 UFC made two amalgamation transactions where it acquired 2 microfinance cooperatives in 2016 and in 2018, UFC acquired 1 microfinance company and 2 microfinance cooperatives through amalgamation. In May 2023 the National Bank of Rwanda has approved FINAFRICA MICROFINANCE HOLDING a subsidiary of FINAFRICA which is also a subsidiary of GROUP DUVAL as major shareholder of UMUTANGUHA FINANCE COMPANY PLC with 51% shareholding. The institution has 23 branches (5 branches in Kigali and 18 branches outside of Kigali) and 1 outlet in Rwanda.
Currently UMUTANGUHA FINANCE COMPANY Plc is looking for the Director of Operations with the following details:
Job Title: Director of Operations
Report to: Chief Executive Officer
Department: Operations
Location: UFC Plc Head Office
Missions/Duties
- Overseeing the UFC Plc’s operations function relating to central operations, branch operations, trade services operations, treasury and liquidity operations, cheques operations, cards/ electronic banking operations.
- Develop and implement Operations policy and procedures, Branch Operation Manual
- Manage and coordinate UMUTANGUHA FINANCE COMPANY Plc ‘s operations
- Participate in different committees of UMUTANGUHA FINANCE COMPANY Plc
Activities/Function & Responsibilities
Management & Coordination:
- Establish and review key operational risk indicators/key control standards and formulate action plans to minimize the company’s exposure to fraud and losses
- Manage the UFC’s operational risk exposure by supporting the Business to identify areas of operational risk exposure and by developing and implementing corrective action.
- Design, develop and keep updated the UFC’ Operations Manuals and ensure compliance to all operational guidelines, processes and procedures
- Responsible for annual departmental plan and its implementation.
- Ensure compliance with Regulatory requirements relating to UFC Plc Operations
- Ensure that effective documentation is in place, in the form of user guides and implement operational improvements to reduce operational costs, tighten controls, improve service quality and customer service
- Monitor daily operations to ensure a free flow process, and also supervise the execution of daily tasks including liquidity controls, branch safe and tellers’ management.
- Create and implement long term business plan to ensure continuity of business operations in the long run
- Ensure client data is protected from the public and secured against fraud by enforcing access rights and verification levels; ensure accuracy of data reported in credit bureau
- Develop financial back up plans to protect business operations in the event of major crises that could result in huge losses
- Collaborate with heads of other departments/services to develop best practices for successful banking operations
- Controlling payments and settlement function including cheques, transfers and digital financial products
- Participate in the Refinement of products and Development of new ones and ensure uptake and usage by clients
- Organize efficient and safe front office and back-office procedures
- Safe cash management (support and coordination of Branch Managers in cash Management)
- Develop specific operational policies, procedures and Branch Operations Manual.
- Elaborate and implement department policies and procedures, set goals, objectives and strategy, according to the UFC Plc mission;
- Coordinate domestic and foreign UFC products and services;
- Manage general operation services, supervision and control of branches operations
- Provide supervision to the units within the department, ensure the timely and secure services delivery
- Create a strong workforce by developing competent individuals in the UFC Plc operations team;
- Develop, implement and monitor operational system ensure customer satisfaction at all times;
- Implement new products and services;
- Forecasting possible operational risks that may be encountered for each issue
- Daily reconciliation of RIPPS account including inward and outwards transfers.
- Regular reconciliation of all internal and external accounts of UFC Plc
- Monitor and supervise daily operations to ensure a free flow process
- Ensures the branch and vaults are opened and closed on a timely basis
- Performs pre-audits to ensure ongoing adherence to compliance procedures
- Maintains adequate cash supplies/replenishment at the facility
- Responsible for daily cash management and related reports analysis;
- Perform any other duties as assigned by Chief Executive Officer
Activity monitoring:
- Prepare management information reports of department activities;
- Provide reports showing progress, achievement, challenges with possible solutions and prospects to the management.
Requirements;
- Masters/Bachelors’ Degree in Accounting, Finance, Economics, Management or another related field
- Must have 6 years working experience out of them 3 years must be at managerial position in Microfinance or banking
- Knowledge Banking Operations
- Good accounting knowledge
- Products knowledge
- Excellent negotiation skills
- Good financial analysis / Interpretation skills
- Documentation skills
- Needs to have contacts with regulators and major local financial institutions
- Good customer service / Relationship management skills
- Team building / Conflict management
- Interpersonal skills
- General managerial/ administration
- Organization and coordination skills
- Performance management
- Coaching/Leadership / Influencing
- Organization & coordination
- Time management
- Good Knowledge of Kinyarwanda, French and English is compulsory
Application documents:
- Application letter addressed to the Chief Executive Officer
- Curriculum vitae
- Studies documents (copies of Certificates, academic transcripts, degree, etc… )
- Training and experience documents
- Recent service certificate
- A list of three references and their contacts
Note: All documents should be scanned in one document and be electronically submitted to: ufc.recruitment@ufinance.co.rw (Please mention the position you are applying for in the email subject).
The deadline for receiving applications is 18th March 2024 at 5:00 PM
NB: Only short-listed candidates will be contacted.
Done at Kigali, 08th March 2024
Noel MUHAWENIMANA
Innocent SIBOMANA
Chief Executive Officer
Chairman of the Board of Directors
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