Job Expired
Deposit Manager
Digaf Microfinance Institution
Finance
Accounting
Addis Ababa
3 years - 5 years
1 Position
2025-01-16
to
2025-01-26
Business Administration
Finance
Economics
Full Time
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Job Description
Reports To: [COO]
Location: [HO, A.A. Ethiopia]
Employment Type: Full-Time
The Deposit Manager will oversee the MFI's deposit mobilization operations, ensuring the growth and management of the institution’s deposit products. This role involves developing and executing strategies for attracting, retaining, and growing depositors, ensuring regulatory compliance, and enhancing customer satisfaction. The Deposit Manager will also collaborate with various departments to meet organizational goals and contribute to the overall sustainability and growth of the MFI.
Key Responsibilities
Deposit Product Management:
Oversee the development, launch, and management of deposit products (savings, fixed deposits, recurring deposits, etc.).
Monitor the performance of deposit products and suggest improvements to attract more clients.
Ensure competitive and market-driven pricing of deposit products.
Strategy and Growth:
Develop and implement deposit mobilization strategies to achieve growth targets.
Analyze market trends and competitor products to adapt deposit offerings.
Identify and explore new markets for deposit collection, ensuring outreach to underserved areas.
Customer Relationship Management:
Build strong relationships with depositors and potential clients.
Ensure high customer satisfaction and retention by providing excellent service and resolving complaints or issues effectively.
Conduct training for front-line staff on customer service excellence and deposit product knowledge.
Compliance and Risk Management:
Monitor risks related to deposit mobilization, including fraud prevention and operational risks.
Ensure that all savings products comply with relevant regulatory requirements, including KYC, anti-money laundering (AML) standards, and other legal frameworks and internal policies.
Work closely with compliance and internal audit teams to monitor and mitigate any potential risks associated with savings operations.
Promote ethical practices, transparency, and integrity in all savings operations.
Team Management:
Lead and mentor the deposit mobilization team to achieve set targets.
Organize regular performance reviews, training, and skill development for team members.
Promote teamwork and ensure alignment of individual and team goals with the institution's mission.
Operational Efficiency:
Ensure efficient and smooth operations of all savings-related processes, including account opening, deposits, withdrawals, and customer inquiries.
Identify bottlenecks or inefficiencies in the savings process and work towards streamlining them for better customer experience.
Market Research & Competitor Analysis:
Conduct regular market research to understand customer preferences, emerging trends, and competitors’ offerings.
Adapt and refine savings products based on market insights and feedback from customers.
Stakeholder Engagement:
Build relationships with key stakeholders including community leaders, business partners, and other relevant organizations to increase awareness of savings products.
Represent the MFI at networking events, community outreach programs, and industry-related conferences.
Reporting and Analysis:
Prepare regular reports on deposit performance, growth trends, and customer feedback.
Present findings to senior management and recommend actions to improve deposit collection and management.
Track industry benchmarks and provide insights into product and market performance.EC
Job Requirements
Qualifications and Experience:
Educational Qualifications:
Bachelor’s degree or master’s degree in Business Administration, Finance, Economics, or a related field.
Experience:
Minimum of 3-5 years of experience in deposit mobilization, retail banking, or microfinance.
Strong understanding of microfinance and deposit products.
Experience in team management and customer relationship management.
Skills and Competencies:
Strong leadership and interpersonal skills.
Excellent verbal and written communication abilities.
Analytical thinking with the ability to translate data into actionable insights.
Good understanding of regulatory and compliance requirements in the financial sector.
Ability to work under pressure and meet deadlines.
High level of attention to detail and organizational skills.
How to Apply
Interested And Qualified Applicants can Apply Through
Fields Of Study
Business Administration
Finance
Economics
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