World Vision (WV) operates a number of different ministries to empower the poor in nearly 100 countries worldwide, and VisionFund International (VFI) is a subsidiary of WV responsible for running the network of microfinance institutions (MFIs). Microfinance is one of the ministries supporting economic development. It gives the ability to families who would otherwise not have access to financial services, loans to start businesses which in turn generate income to provide for their children’s education and family well being. Micro finance lending to the entrepreneurial poor is performed through 36 Microfinance Institutions (MFI’s) globally and the VF network has outstanding loans of nearly $400m to over 700,000 clients impacting around 2 Million children. At the heart of VFI’s work is ensuring that children are impacted positively and sustainably through microfinance. Past success in this ministry, and a goal of further impacting 3.5 million children by the year 2014 leads to the need for individuals to execute VisionFund’s strategies regionally in an integrated fashion with the World Vision ministries.
VisionFund is seeking a Regional Director (RD) to lead and manage the execution of VisionFund’s strategy in the region. The CEOs of each MFI in the region will report jointly to the RD and their local Boards, and the RD will represent VFI on all the MFI Boards in the region. The RD is therefore responsible for ensuring the delivery of the ‘double bottom line’ of financial and social performance in the region. The role also involves managing the regional MFI technical staff who support the RD in capacity building and oversight of the MFIs, ensuring proper governance, controls, policies, procedures, and performance targets are achieved.
PURPOSE OF POSITION:
The position ensures that regional direction and country level strategies and budgets are aligned to the global VFI strategy and tied into the regional and country level WV strategies. This position will support the consolidation of all WV MFI’s into VisionFund ownership, including the satisfactory legal and regulatory alignment for each jurisdiction. He/she will ensure that all growth initiatives are well-managed both at the local and regional. Measures and targets will be established and agreed for each MFI and quarterly reviews held to establish progress and decide upon adjustments and redirection of resources, particularly funding, in consultation with VFI regional finance director. All efforts will be made to provide regional solutions to improve MFI services, impact more children, maintain quality and sustainability. As many MFI’s are either willingly or being forced to move into regulated structures, this position will consider the best structure and ensure it can comply with all regulatory requirements
As part of the role, the RD will need to work with WV teams responsible for the overall delivery of strategies and programs to ensure that the microfinance work is fully integrated into transformational development initiatives, providing sustained economic development in the Area Development Programs (ADP’s) where the poor have been identified as needing assistance. This role will therefore have a dotted line to the WV Regional Senior Director for Policy and Programmes reflecting the importance of aligned WV/VFI initiatives.
Will carry out additional responsibilities and projects as assigned, including administrative and planning functions both within and outside the region.
Develop and maintain a strong control environment:
- Supervise MFI CEOs and manage performance expectations in support to local MFI and global VFI priorities, ensuring balanced achievement of MFI double bottomlines of social and financial performance,
- Responsible for ensuring all MFI’s (WV/VFI) have well-operating boards and are in compliance with local laws, regulatory requirements and WV/VFI policies, procedures and directives,
- Work with regional finance director to ensure that MFIs have strong financial controls, risk management system and compliance reporting.
- Sit on and attend all board meetings to represent WV/VFI’s ownership position.
- Assist the board chairs and the VFI corporate governance director with the development of effective boards including identification of potential members, securing approval from VFI, clarifying roles & responsibilities, composition, and self assessment, training and development
- Work with the CEO of each MFI to ensure controls are operating well and support external and internal audit in their duties,
- Report to the VFI COO any concerns with legal, regulatory, or compliance to VFI policies,
- Provide regional quarterly report to COO.
Strategy Development and Execution:
- Provide inputs and work with VF strategy director and the rest of VFI Senior Executive Team on refinements to, or revision of VFI global strategy, especially as it relates to Asia as a proirity region.
- Work with the WV regional teams to ensure integration and alignment of VFI, MFI and WVNO strategies at the regional and national levels,
support regional roll out of global centre initiatives including how central services and regional banking software can be deployed to improve service to the MFI’s and their clients and to reduce costs and improve sustainability,
- Coordinate with Director of Global Systems, and help ensure effective roll out of loan tracking systems in MFIs,
- Provide timely, and responsive but prioritized consulting services for MFI issues and concerns,
- Maintain state-of-the-art awareness microfinance industry activity in the region, sharing changes with both local MFI’s, the region and PO,
- Support fund raising efforts for Asian MFIs and coordinate with VFI director for marketing and fundraising and director for global funding and corporate finance Funding Manager.
Conversion and Transformation:
- Support consolidation of MFIs into VF ownership whenever legally feasible,
- Where sensible or necessary, develop business case and seek approval for transformation of MFI’s into regulated deposit-taking institutions,
- Support MFI CEOs in developing solid relationships with all central banks or other regulators ensuring that VFI can contribute to proposed regulation changes and laws when approporiate
- Ensure that all MFI’s are compliant with the regulators’ requirements.
MFI Plans and Budgets:
- Lead and coordination the development of long range plan and annual budget for each of the MFI’s in coordiation with the VFI regional finance director.
- Recommend regional targets and programs to meet local WV and VFI goals,
- Ensure that plan/budget variances are well understood by the MFI’s and VFI management and any corrective action are planned and undertaken,
- Establish “work out” plans when targets are not achieved including analysis of staff capabilities and support institutional building measures to keep the MFI performance back on track.
Regional –GC Coordination:
- Attend WV APRO regional leadership team meetings, ensure VisionFund strategy and intent are well understood, and WV strategy and tactics are clear and are relayed to all staff, MFI boards and MFI staff,
- Provide regional input and support to GC initiatives and projects
- Provide regular reports to VFI COO on status of key issues and identified risks,
- Provide MFI reports and updates to RVP’s through regional the WV Regional Senior Director for Policy and Programmes.
Personal and Staff Development:
- As a Christian VisionFund leader, facilitate development of MFI CEOs and direct reports spritually and professionally,
- Develop clear individual staff goals with manageable and measurable targets and ongoing feedback and support to achieve them
- Provide quarterly staff performance evaluations as well as an annual review of performance and career,
- Ensure staff and self- training programs are in place and implemented, making use of existing resources such as VFI GC staff and consultants, Bankers with Vision volunteers, and others
- Attendance at chapel and devotions.
KNOWLEDGE, SKILLS & ABILITIES:
The key ability VisionFund is seeking is leadership. In addition to experience with microfinance and banking operations (lending, deposit taking), the successful candidate will have experience developing and nurturing a talented team, and spotting improvement opportunities and making those happen in a complex and dynamic environment. In addition, the following specific knowledge, skills and abilities are required, and may have been acquired through a combination of formal schooling, self-education, prior experience or on-the-job training.
- Given the need to control financial risk within the MFI’s, it is imperative that this individual will have good financial analysis, risk management and accounting skills
- Thorough knowledge and extensive experience in governance and compliance, microfinance and banking operations. 10 years of leadership experience largely in banking or microfinance environment,
- Although central treasury expertise will be provided by GC, this person will have understanding of balance sheet risk management including interest rate risk, liquidity risk and foreign exchange risk as well as bank funding processes and contracting,
- Solid understanding of financial reporting and performance measurements and planning/forecasting,
- Able to balance Christian values with sound commercial practices,
- Good project management and organizational skills,
- Highly developed Consulting skills, with ability to analyze, recommend solutions, mentor and direct people,
- Balanced and respectful approach to groups’ differing responsibilities. Sensitive to complexity of WV direction, MFI board independence and shareholder requirements,
- Good communication and influence skills in both oral and written forms,
- Strong staff leader desirous of developing and encouraging staff,
- Effective coach and able to train people in VisionFund policies and procedures,
- Must be experienced in managing effective support of accounting and loan tracking systems.
- Must be able to simultaneously manage multiple priorities and projects,
- Must be cross culturally sensitive as will work with associates from different cultural contexts and timezones,
- Flexibility on hours to contact people within wide time zone differences is required.
- Ability and willingness to travel extensively.
- MBA preferred but will consider a B of Commerce