Job Description
RoleOverview
The Head of Business Development is responsible for managing the day-to-day operations of the branch,
overseeing the design, development, and management of the organization’s product portfolio. This
executive role focuses on creating innovative financial products tailored to the needs of the targeted
market segment, driving product strategy to support business goals, and ensuring products are scalable,
customer-centric, and compliant. The Head of Business Development collaborates closely with marketing,
operations, risk, and IT teams to optimize product delivery and promote financial inclusion. This role
requires strategic insight, an innovative approach to financial product development, and a deep
commitment to fostering financial inclusion through impactful products that meet the needs of
underserved communities
A. Key Responsibilities
• Product Lifecycle Management: Oversee the end-to-end lifecycle of products, from concept to
launch and ongoing improvement.
• Customer Needs Assessment: Conduct market research and client feedback analysis to ensure
products address customer needs and promote financial inclusion.
• Innovation and Product Design: Develop new, innovative products and services that are affordable,
accessible, and meet the needs of underserved communities.
• Cross-functional Collaboration: Work with operations, marketing, and IT teams to ensure seamless
product roll-outs and effective customer support.
• Compliance and Risk Management: Ensure all products comply with regulatory standards and
manage any associated risks.
• Data-Driven Decision Making: Use analytics to monitor product performance, refine strategies, and
enhance product features based on customer insights.
• Product Training and Support: Develop training materials and support resources for sales teams to
ensure product knowledge and effectiveness, train and supervise team leaders and their sales
agents
• Stakeholder Engagement: Engage with internal and external stakeholders to promote the
organization’s products and foster partnerships that enhance product delivery.
• Product Strategy Development: Lead the creation and execution of a comprehensive product
strategy aligned with organizational goals and market needs.
• Portfolio growth. Grow the current portfolio and achieve the set portfolio growth target.
• Staffing. Ensure that the business has the staff that it needs to achieve its goals.
• Gathering market intelligence and using it for the benefit of the business.
• Achieve the set disbursement target.
• Book quality. Improve on the quality of the business brought in.
• Lead and direct the development and implementation of the branch’s strategic plan and budgets
• Identify and implement action plans and regularly track and review performance to ensure the
achievement of the set targets
• To lead any branch projects (Process changes, sales... etc.) and support the launch of new products
• Responsible for the smooth running of the branch by planning branch activities.
• Responsible for preparation and submission of daily, weekly and monthly reports to management.
• Ensure client's files are in safe custody and Ensure safe custody of branch assets
• Ensure branch Office management affair (office arrangement, security)
• Responsible for supervision of MCL activities in the Branch to ensure that they are carried out in
accordance with the laid down procedures and policies.
• Meet regularly with the branch customers including important/ high net worth customers in order
to assist in the growth of business.
• Promote high level of customer service culture among the branch staff for potential acquisitions.
• Maintain sound relationships with all new clients and maintain business relationship with all existing
clients to increase retention rate.
• Monitor continuously customer complaints and mystery shopping results and recommend necessary
measures and initiatives to improve the retention rate and to ensure high customer satisfaction.
• Proactively market and generate business through Individual client recruitment on disbursement.
• Stimulate branch growth through marketing of Mwananchi’s products and recruitment of new
clients. Cross-sell all products and services to both existing and potential clients.
• Ensure all data is properly keyed into the system on time.
• Monitor loan approvals and the loan status of the branch, i.e. disbursements, repayments and
appraisals.
• Responsible for loan appraisals and recommendations as per policy.
• Delinquency management in view of maintaining portfolio quality at acceptable levels. Monitor the
portfolio quality on a daily basis and proactively institute remedial actions.
• Oversee credit risk framework, implement credit strategies, policies and procedures in line with the
Mwananchi’s corporate strategy and ensure compliance.
• Maintain high quality portfolio by ensuring on time payments of loans and being zero tolerant to
arrears.
• Initiate repossession through head of debt recovery.
• Responsible for supervision of the branch staff.
• Ensure staff members in the branch are acquainted, and adhere to the company policies and
procedures.
• Ensure proper time management, Motivate, inspire, coach and develop branch staff to achieve set
goals.
• Steer the Branch into high level performance standards through proper supervision of staff and
maintenance of a healthy loan portfolio.
• Support handling legal matters that arise in the course work as the case maybe.
• Attend court sessions and organize witnesses.
B. Objectives and Key Results (OKRs)
Product Launch Success Rate: Percentage of products launched on time and within budget, achieving
target customer acquisition within the first six months.
• Customer Adoption Rate: Number of active users per product, with a target of X% growth in product
usage within the first year.
• Customer Satisfaction and Retention: Average satisfaction score for products, with retention rates
meeting or exceeding X%.
• Product Profitability: Gross profit margin per product, with each product achieving at least X%
profitability within a specified timeframe.
• Market Share Growth: Increase in market share attributable to new and existing products, aiming for X%
growth annually.
• Time to Market: Average time taken from product ideation to launch, reducing the timeline by X% year-
over-year.
• Compliance and Risk Metrics: Number of compliance-related incidents per product, with zero critical
compliance issues reported.
• Product Innovation Index: Number of new features or improvements introduced to existing products,
aiming for at least X innovations annually.
• Cost of Product Development: Product development costs relative to budget, with a target of
maintaining cost efficiency and staying within budget limits.
• Customer Feedback Implementation Rate: Percentage of customer feedback incorporated into product
improvements, with a goal of at least X% implementation rate.
• Portfolio growth. Grow the current portfolio as per the set target.
• Portfolio quality. Improve on the quality of the portfolio for the business.
• New customers. Onboard new clients as per the set target.
• Customer retention rate. Ensure that the business retains its clients as per the set target.
• Return on Investment. Ensure that the business makes profit from the products it is offering to her
clients.
• Branches performance in comparison to the set target.
Requirements
Qualifications:
• Bachelor’s degree in Business, Finance, Economics, or related field (Master’s degree preferred).
• 10+ years of experience in product management within the financial services or microfinance industry.
• Strong knowledge of product design, market research, and financial inclusion.
• Proven experience in managing cross-functional teams.
• Excellent analytical and strategic planning skills.
• In-depth understanding of regulatory and compliance issues related to financial products.
