Head of Deposit Growth & Product Innovation at Bosak Microfinance Bank Limited

Bosak Microfinance Bank Limited was incorporated in December 2009 with the business objective of providing financial service to micro clients who were excluded from the mainstream financial system. It commenced operations in June 2010 upon obtaining a Unit Microfinance Banking License from the Central Bank of Nigeria. It later obtained a State Microfinance Banking License in 2016.

We are recruiting to fill the position below:

Job Title: Head of Deposit Growth & Product Innovation

Location: Ikeja, Lagos
Employment Type: Full-time

Job Summary

• The Head of Deposit Growth & Product Innovation would be responsible for driving deposit mobilization, account opening, and retention. The ideal candidate will meet monthly sales targets, introduce the bank’s products, develop and manage High Net-worth Individuals and corporates.

Responsibilities 

• Mobilize funds from private sector entities, individuals, and corporate agencies.
• Develop and maintain relationships with corporate clients and individual depositors.
• Deposit Mobilization of Monthly N15 - N30milion to offset target.
• Advise clients on funds status and generate new clientele on an ongoing basis.
• Work with the team to develop and implement a business development plan to improve the deposit mobilization and retention of deposit and manage withdrawal attrition.
• Provide leadership in implementing business development plans to improve mobilization and retention of deposits, achieve set targets and manage withdrawal attrition.
• Develop and implement a business plan for identified target markets with the prospect to drive high volumes of new deposits to the bank.
• Build and manage strategic relationships for fixed deposit customers, serving as the single point of contact for new business.
• Develop and maintain beneficial relationships with corporate clients and individual depositors and meet sales targets.
• Ensure fixed deposit account opening forms are duly completed and registered and advise clients of deposit status as necessary.
• Develop and execute best-in-class go-to-market strategies and campaigns to support new product launches and drive growth for the business
• Create and manage marketing budgets, plans and strategies.
• Follow and analyze market trends to position products.
• Work with various teams (design, content, acquisition, product, sales) to implement strategies across all marketing channels.
• Researching the market to learn the competitive environment.
• Working with the marketing team to create materials that highlight product features and benefits.

Requirements

• Investment, Private, Microfinance & Retail Banking experience.
• Proven working experience as a Deposit mobilization officer in a Microfinance institution is an added advantage.
• Established track record of developing and maintaining Clients on investment deals.
• Proven track record to meet individual and organizational loan production goals while maintaining a large client base.
• 5-10 years of relevant work experience in the Microfinance Bank, Finance House, and Investment Banking Industry.
• Ability to make sound business decisions, and manage a team.

Why Work With us

• If you desire to work in an organization where employee motivation is key and passion is rewarded, then Bosak MFB might be the place for you.
• We are committed to building an open and rewarding work environment where all employees have equal opportunities for growth to realize their full potential.
• Our remuneration and employee welfare packages are among the best in the industry.

We offer the following Benefits:

• HMO
• Constant Training and Development
• Leave & Passage Allowance
• Performance Induced Pay
• 13th Month

Application Closing Date
11th December, 2024.

How to Apply
Interested and qualified candidates should send their CV to: [email protected] using the job title as subject of the mail.