Mobile Financial Services Product Specialist
- Kinshasa, Kinshasa, Congo, The Democratic Republic of the
- Mobile and Digital Business
Report : Mobile Financial Services Manager
Postind date: 3/16/2023
Closing date: 3/28/2023
The Mobile Financial Services Product Specialist is responsible for development of the Mobileavings and loan products for the mass market through a combination of technological innovations with non-branch channels, which primarily consists of mobile phone.
The emergence of new business and operating models to provide retail financial services to the bottom-of-the-pyramid is both a threat and an opportunity for FINCA DRC. It threatens FINCA’s traditional business model of highly labour intensive group lending services, but at the same time it gives FINCA DRC the opportunity to leverage its vast experience serving the low income market with new innovative solutions to replace mature and hardly scalable methodologies to provide financial services to this hard to reach customer segment.
To maintain FINCA’s strong position in the DRC as a key player among the providers of retail financial services for the mass it is the right moment to leverage this opportunity by creating a dedicated business unit. This unit will develop and test these financial services that combine new and existing technological innovations (e.g. mobile phones, “big data”, credit scoring algorithms), non-branch channels (e.g. mobile banking) and new products combining such new technologies and channels.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Note: Other duties may be assigned
1. Mobile micro loans and MNO agent loans products
- Work together with third parties hired to develop scoring algorithms
- Work in conjunction with the MNO and internal IT staff to provide expected data to develop scoring algorithms
- Perform ongoing calibration of scoring algorithms for both mobile micro loans and agent loans. E.g. adjust weight of application and behavioural data vis-a-vis repayment history, per product.
- Document how each scoring algorithm works.
- Analysis of weekly / monthly dashboards provided by credit scoring third party providers; and development and analysis of weekly / monthly dashboards.
- Make analysis and recommendations on the credit cycle phases; analysis aimed at promoting and maintaining advanced automated decision strategies in the FINCA Mobile loan cycle:
- Credit underwriting improvement: identification of dishonest behaviour ,
- Adjustment of risk appetite (upper and lower cut off scores), etc.
- Mobile loan portfolio management: work together with partners and FINCA management to develop criteria to pre-approve repeat loans for both Mobile micro loans and MNO agent loans
- Collections: develop scoring based strategies to optimize collections for both mobile micro loans and agent loans and meet the target on PAR
- Be a key stakeholder in the development of the mobile scoring algorithm
- Participates in the development of effective collection strategies for mobile credit.
- Work with cross functional teams to develop / update credit policies. Identifies discrepancies in credit policies and recommends adjustments.
- Prepare planning (daily, weekly and monthly) for loans disbursement/repayment and meet the defined targets
2. Mobile savings
- Work together with third parties hired to design the mobile savings products
- Effectively pilot successfully the savings products
- Define in partnership with the MNO the sales strategy in order to raise necessary funds for disbursement
- Savings mobilization through the mobile savings product and Mobile savings portfolio management
- Improving the customer experience
- Raise borrower retention;
- Improve operational efficiency;
Project Managers, Heads of Departments (IT, Marketing, Risk, HR, etc),
Qualifications, EXPERIENCE AND SKILLS
Education and Experience:
- University graduate: economics, business, engineering or IT
- Good understanding of traditional as well as new financial services and mobile banking
- Innovative product or channel development experience
- Project Management experience/knowledge
- Have a big-picture vision and think out of the box
- Creativity to combine untapped market opportunities with new technologies to create new financial services for FINCA
- Strong partnership development skills
- Pragmatism in balancing new businesses growth and profitably versus build-up of back office and control structures
- Excellent oral and written communication skills, with a focus on ability to “pitch” ideas and getting buy-in from the management team as well as the larger organisation
- Oral and written English and French
- Microsoft Suite: Word, Excel, PowerPoint and Visio
Availability to travel (20% of the time)