World Council of Credit Unions (WOCCU)
Job Title: SME Finance Specialist
Reports to: Kenya Country Coordinator, WOCCU Cooperative Development Program
Background: The World Council of Credit Unions (WOCCU) is currently in Year 2 of a 5-year, multi-country project funded by USAID under the Cooperative Development Program (CDP). The CDP Technology and Innovation for Financial Inclusion (TIFI) project aims to increase finance for SMEs in Kenya, Burkina Faso, Senegal, and Guatemala. In Kenya, the TIFI team carries out the project in partnership with the Kenya Union of Savings and Credit Cooperatives (KUSCCO), and particularly the Central Finance Facility (CFF).
TIFI also works directly with SACCOs that are pioneering development and pilot testing of a new SME Finance Toolkit.
The TIFI project has three objectives;
1. To improve cooperative business performance through introduction of an effective SME finance product;
2. To improve the enabling environment for SMEs and for cooperatives by developing partnerships and resources for business development services and by developing linkages with other cooperatives; and
3. To help build the cooperative movement by sharing knowledge and enhancing the development community’s support to cooperatives.
SME Finance Specialist
- Identify unserved SME market segments in coordination with KUSCCO and participating SACCOs, determining the needs of specific industries for finance and business development services.
- Carry out a competitor analysis to determine which market segments are most appropriate for SACCOs to serve, including a review of which SME market segments are currently served by SACCOs and the characteristics of the product offerings.
- Analyze industry trends.
- Determine specific opportunities to target women, youth, and other underserved demographics.
- Collaborate with KUSCCO and SACCOs to develop, test and refine a comprehensive SME Finance Toolkit, including modules such as a loan procedure manual, guiding principles on SME Lending, tools for loan screening and loan analysis, and Key Performance Indictors (KPIs) to monitor loan performance.
- Support SACCOs and KUSCCO in the marketing strategy for SME loans.
- In addition to the loan product, determine needs for the full range of financial services, including other credit products as well as insurance, payments and savings.
- Develop a strategy for cross-selling of products.
- Develop diagnostic and performance monitoring tools and training so that SACCOs are equipped to evaluate the optimal mix of products for their own contexts.
- Determine how technology solutions can increase efficiencies and bring down operational costs for SACCOs, facilitate the loan application and loan appraisal process, and market services to SMEs.
- Support KUSCCO in the development of its digital strategy.
- Review policies, procedures and organizational structure to recommend changes that facilitate the integration of the SME methodology in the technical, organizational and operational procedures of the SACCO.
- Carry out detailed credit analysis on SME loans and transfer knowledge so that SACCOs can make high quality loans.
- Recommend risk rating changes based on analysis.
- Prepare spreadsheets, reports, summaries and opinions for lenders on new, renewal and existing loans.
- Maintain a good working knowledge of SACCOs’ lending policies and procedures and identify exceptions to policy.
- Review loan files to advise on quality, consistency and compliance with lending guidelines.
- Work with SACCOs to analyze credit requests, credit change requests, renewals and annual relationship reviews.
Training and Technical Assistance:
- Support SACCO loan officers and credit managers in identifying their capacity needs for SME finance.
- Provide technical assistance and training to participating SACCOs in marketing and financial product development, credit management, general finance and reporting using the SASRA monitoring system.
- Develop and adapt training tools so SACCOs are equipped to carry out the product independently.
- Identify any technology solutions to assist with building SACCO capacity.
- Follow good practices in training techniques and monitoring for results
Enabling Environment for SMEs:
- Determine what business development services are needed by SMEs.
- Develop a Business Advisory Services Handbook.
- Contribute to positive partnerships with County governments.
- Represent and advocate for WOCCU/TIFI at forums related to the industry, conferences and client discussions.
- Identify technology solutions that could strengthen SMEs.
- Determine strategies to include women, youth and other underserved demographics.
Reporting / Administration:
- Submit required reports as necessary.
- Monitor the results of the project, identify lessons learned and implement project adaptations after consultation with HQ and key partners.
- Assist with collection of SACCOs’ financial and operational data monthly.
- Other duties as assigned by supervisor.
Educational Qualifications, Skills and Experience:
- Bachelor’s degree in relevant field such as finance or accounting
- 5 years’ experience in banking, finance, SME development, or related field
- Direct experience with SME product development
- Strong credit analysis skills
- Excellent interpersonal and relational skills
- Experience in delivering trainings
- Capacity to develop documentation and toolkits
- Strong initiative
- Ability to travel up to 50% throughout Kenya
- No age limits
How to Apply:
If interested and meet the requirements, please send your CV and Cover Letter to TIFIrecruit@woccu.org by COB 12th February 2020.
WOCCU is an equal opportunity employer.