Banco FINCA Ecuador FINCA Ecuador was founded in 1993 as a non-profit organization devoted to providing financial services to low-income entrepreneurs. In its early days the bank focused on supporting rural entrepreneurs, providing group loans through the village banking model. Since then, it has expanded to offer a greater range of services while delivering a double bottom line of profitability and positive social impact. In 2008, the organization became Banco FINCA Ecuador, a full-service bank regulated by the government of Ecuador and authorized to accept deposits. Adapting to the needs of a growing market, FINCA Ecuador now provides individual and group loans as well as savings products and money transfers. The bank currently has a loan portfolio of more than USD 64 million and holds total deposits of roughly USD 45 million. Banco FINCA Ecuador new serves more than 47,000 clients through 12 branches, a network of banking agents located throughout the country and expanding digital channels. The bank uses its diverse delivery channels to expand financial inclusion to those sections of society that need it most. More than two-thirds of Banco FINCA Ecuador clients live in rural areas, and roughly 60 percent of borrowers are women. While the bank has evolved over the years, it has continued to serve rural families and communities through group loans, which currently make up more than half the bank’s total loan portfolio. In April 2018, Banco FINCA Ecuador became the first bank in the country to receive SMART certification, a recognition of its long-standing commitment to robust client protection principles. The FINCA Subsidiary’s Chief Commercial Officer is responsible to manage the commercial functions of the business branches in the Subsidiary, ensuring the development and implementation of business strategies focused on increasing the number of clients around the country and achieve consistently growth in the volume of the portfolio, maintaining the quality at levels to achieve the financial goals in the institution. The Chief Commercial Officer is responsible for ensuring the correct training of all the commercial staff with high level of technical competence. As a member of the Management Board (MB) and the management team of the Institution, shares responsibility of performance and general activities of FINCA Subsidiary and participate in making decisions on strategic issues. KEY STRATEGIC DUTIES AND RESPONSIBILITIES The Chief Commercial Officer is responsible for all daily decisions and corporate functions related to the area and is responsible of the Marketing Department Direction, the liability of commercial projects and the management and coordination of all the commercial structure of the Institution. The Key Strategic Functions and Responsibilities are: 1. General - As part of the MB participates in the development and preparation of the subsidiary strategic plans and budgets based upon broad organization goals and objectives - Lead the organization's efforts to create an institution of exceptional customer experience, ensuring that brand attributes and values are key guiding principles for the entire subordinated team and are consistently transcended to all key stakeholders. - Ensure the provision of high quality financial services to our clients. - Achieve sustainability, growth and customer service objectives through the development and innovation of products and services. - Accountable for ensuring delivery of high quality financial services to the clientele; achieve sustainability, growth, and customer service objectives. - Driving the efforts of the organization to offer a unique service for our clients, ensuring that the attributes and values of the brand are the key principles governing all the team. - Manage and direct the commercial team in the implementation of financial products, ensuring the efficient maintenance of the operating model. 2. Strategy - Develop with the Management Commercial Team, the annual business plan ensuring the compliance with business objectives. - Develops and facilitates planning across the CCO environment. Develops annual sales plan together with subordinated staff, ensures targets achievement. Directs the preparation of short-term and long-range plans and budgets based on broad organizational goals and growth objectives. - Develops and proposes recommendations for business model, ensuring development of tools for business efficiency. - Create the structure and the processes required to manage the commercial activities of the organization and its projected growth. - Develop the expense budget for the Commercial Staff. - Establish the general lines of the Marketing Plan:Establishes commercial policies consistent with the Chief Executive Officer's broad policies and objectives and ensures their execution. -Conduct market research, competitive analysis and continuous assessment of the internal strengths and weaknesses. -Based on the above, develop plans for dissemination and expansion. Identify new opportunities regarding markets, regions and clients. -Implement programs to achieve the organizational goals and objectives. - Determine the most appropriate way to communicate and to send messages to the target market. - Prepare and maintain a management development plan, including a succession plan for the functions / departments under the supervision. 3. Business - Monitor and grow up the client portfolio. - Reduce the portfolio in arrears. - Guides and directs the team in the development, production, promotion, and financial aspects of the organization's products and services. Ensures efficient operating model maintenance. - Reviews and evaluates regular reports of service center activities, including staffing, loans, deposits, charge-offs, and audits to meet regional sustainability and performance objectives. - Maintains a sound plan of corporate organization, establishing policies to ensure adequate management development and to provide for capable management succession. - Ensures that risk is effectively addressed in all aspects of the business - Evaluates the results of overall business regularly and systematically and reports these results to the Chief Executive Officer. - Supervise, authorize and control the credit amounts. - Opening new Branches. - Lead and supervise the Commercial Management - Regularly and systematically, evaluate business results and report to the Executive Management. - Provide information and reports regularly about performance and development of the Commercial Area to FINCA Impact Finance - Ensure that all activities and operations of the commercial area of the institution are conducted according to the commercial laws and rules of the business. - Ensures that the responsibilities, authorities, and accountability of all direct subordinates are defined and understood. - Ensures that all organization activities and operations are carried out in compliance with regulations and laws governing business operations. - Manage the internal resources (software, administration and human resources) for convenient branches development. 4. Supervisory Responsibilities - Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, training and development of employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems - Develops and installs procedures and controls to promote communication and adequate information flow within the organization. - Needs analysis and training tracking for all staff in the area. - Establishment of the remuneration policy and incentives of Commercial Staff. - Manage, supervise and develop the Commercial Staff Nationwide. - Motivate and develop the commercial team. - Ensure that the functions, scope and responsibilities of all the commercial team are defined and understood. 5. Other - Other responsibilities, as relevant or as assigned by the CEO
EDUCATION & EXPERIENCE
Master’s degree in Marketing, Business Administration, Management, Finance, Economics or related field, or equivalent work experience is required
Minimum of 10 years hands-on experience working in banking or microfinance with at least 3 years’ experience in comparable positions in terms of responsibility
English and local language proficiency
To perform the job successfully, an individual should demonstrate the following profile:
Expertise in developing and implementing strategic/operational and marketing plans for financial institutions.
Expertise in credit origination and credit risk assessment, business experience in micro lending (group and individual).
Proven ability to work in emerging market and/or developing economies.
Expertise in market research and distribution of products in different market segments.
Expertise managing, developing and activating high commercial performance teams.
Internal: CEO, COO, CFO, HR, Audit, Legal, Branches team.
External: Representatives of FINCA Impact Finance, Regulatory Institutions, Service Providers, Clients.TRAVEL REQUIREMENTS
Availability to travel (50%-70% of the time)