Background of TIB Corporate Finance Limited
The restructuring of Tanzania Investment Bank Limited has evolved into the separation of activities related to traditional deposit taking activities and development financing functions. The separation was further amplified by the Banking and Financial Institutions (Development Finance)Regulations, 2012 which has put limitations on certain banking activities by development , finance institutions (DFI).
In line with these changes, in October ~012,the shareholders of TIB Development Bank Limited approved a proposal to establish a commercial bank, TIB Corporate Finance Limited, whose functions and objectives are as follows:-
Following the promulgation of the regulations, Tanzania Investment Bank Limited changed its name toTIB Development Bank Limited, to signify its intention to operate as a development finance institution.
To carry on corporate banking business in all its branches, agencies and departments, including receiving funds from the general public, especially from corporate entities, by way of deposits
To offer corporate, commercial and financial banking services through traditional and modern channels such as internet banking, , points of sale and automatic teller machines;
To buy and sell currencies in both local and foreign currency and deal in bullion and specie;
To make collections, payments and transmissions or remittances of money for the account of others and perform such other services for their customers as are compatible with the business of banks;
To invest in or to advance and lend money or real property, personal and mixed securities, or cash credit or other accounts, bonds, bills of exchange, promissory notes, letters of credit, or other obligations, as assessed and acceptable by the bank;
To act as an agent for revenues collection for taxes, dues, customs and duties, dividends, debts, for Central Government or any department thereof municipality or person.
TIB Corporate Finance Limited is hereby inviting applications from suitable qualified candidates to fill the following' existing vacancies;
Purpose and mandate
To lead the bank by overseeing the overall operations (implementation of its projects and strategic plans).
Duties and Responsibilities
Successful applicants will be responsible for but not limited to the following duties:
Make policies and regulations as it will be deemed fit for the proper management of the bank;
Ensure that the bank is managed in line with the Bank of Tanzania Act, the Banking and Financial Institutions Act, its regulations and Memorandum and Articles of Association;
Determine the manner in which cheques, promissory notes, drafts, bills of exchange and other negotiable instruments, and all receipts for money paid to the bank shall be signed, drawn, endorsed, or otherwise executed;
Monitor and evaluate the Bank's Strategic Plans to achieve the vision and mission and ensure the bank endures and thrives;
Oversee the bank's agreements and contracts with other institutions in furtherance of the bank's objectives;
Ensure that the accounting system-is maintained in accordance with acceptable standards-and the' books of the bank are kept properly, and that the accounts meet the standards set by the Controller and Auditor General (CAG);
Exercise all the powers of the bank to, borrow money, and to mortgage or charge its undertaking, property and uncalled capital, or any part thereof, and to issue debentures, debenture stock, and other securities whether outright or as security for any debt, liability or obligation of the bank or of any third party;
To perform other related duties as stipulated under the law.
Functional and Technical Competencies
Successful candidates must possess among others, the following competencies:
High degree of skills, expertise, integrity and stature;
Proven leadership, business and people management skills;
Able to integrate macro and micro economic policies into the bank's strategies, policies and procedures;
Able to devise and supervise implementation, monitoring and evaluation of Strategic Plans, other such plans, Vision and Mission;
Thorough understanding of macroeconomic policies, strategies and national development agenda; and
Knowledge of the complexities of socioeconomic development, risk analysis related to operations of commercial banks,
Qualifications, Knowledge and Experience
Holder of a degree or related qualification from a recognized University (institution) in one of the following fields: law, economics, finance, accounting, business administration and any other related discipline;
At least ten (10) years working experience; five of which in managerial position;
A person of sound integrity and who is unlikely to have conflict of interest pursuant to Section 11 of Companies Act, Chapter 212;
Shall have knowledge and familiarity in any of the following: Commercial Banking, Development Finance Institutions,
Microfinance operations, economic or financial matters, and with a proven success record in the implementation of standard commercial banking operations; and
Previous board experience in similar organisation will be an added advantage,
Applications from suitable candidates enclosed with certified copies of relevant certificates and Curriculum Vitae (CV) should L reach the undersigned by 26th July, 2013.The application should include CV with proper names, contact telephone numbers and e-mail addresses of the candidate.
To apply to a position of the Board of Directors of TIB Corporate Bank applicants are requested to submit a cover letter to:
TIB Development Bank Limited
Mlimani City Office Park Building No.3
Sam Nujoma Road
P.O. Box 9373
Dar es Salaam