Remote Access Finance Specialists

Organization: Financial Sector Deeping Trust, Tanzania

Job Title: Remote Access Finance Specialists

Areas of expertise: Mobile money, payments, agency banking, and regulations

Location: Dar es Salaam, Tanzania

Duration: Three year contract

 

Financial Sector Deeping Trust (FSD), Tanzania

Financial Sector Deepening Trust, Tanzania (http://www.fsdt.or.tz/index.php?id=2 ) was incorporated in Tanzania in July 2004 with an overall aim to develop a deeper financial system that can provide greater access to finance for more Tanzanians. FSD Tanzania’s mission is to generate sustainable improvements in the livelihoods of poor households through reduced vulnerability to shocks, increased incomes and employment. These outcomes are achieved through providing greater access to financial services for more men, women and enterprises. FSD Tanzania’s vision is to achieve improved capacity and sustainability of the financial sector in Tanzania by meeting the needs of small-to-medium enterprises (SMEs) and individuals. 

 

To achieve this, FSD Tanzania has four main strategic objectives:

 

1. Improved policies and legal/regulatory frameworks
2. Enhanced market infrastructure and support services for financial service providers
3. Improved financial services that meet the needs of urban and rural enterprises and individuals
4. Data gathering and dissemination for delivery of financial services 

FSD Tanzania welcomes ideas and proposals from potential beneficiaries and others. 

FSD Tanzania is very keen on increasing remote access banking. Using alternative channels to deliver financial services appear to have the greatest potential in changing the landscape of access to and usage of financial services in Tanzania.

 

Primary Responsibilities

The Remote Access Finance Specialist (RAFS) will focus on using mobile money, electronic payments and agency banking to provide remote access to financial services in Tanzania. The role will support FSD Tanzania’s executive management in developing, implementing, and managing the organization’s strategic and business plan objectives related to remote access. 

 

The RAFS will be responsible for overseeing FSD Tanzanis’s Remote Access Finance initiatives at macro, meso and micro levels. These initiatives will support policy and regulatory work, address market asymmetry, drive usage of mobile money, electronic payments and agency banking in rural areas, and ensure capacity building for different stakeholders exploring these services. 

 

Key activities are related to regulations, portfolio development/management, technical assistance, strategy and operational support. Core activities are further defined as:

 

•         Drive regulatory policy analysis and advice on mobile money and digital financial services. The RAFS will work closely with the regulators to facilitate the necessary policy and regulatory framework to allow innovations for the rural and poor population. 

 

•         Contribute to the development and management of FSDT’s rural access portfolio of projects and investments. The RAFS will engage in all stages of project cycle management, from the gestation of an idea to monitoring and evaluation of investments. Key steps will cover market analysis, strategic and business planning, strategic linkages, investment opportunity development, project appraisals, and monitoring and evaluation.

 

The RAFS is expected to evaluate potential investments in mobile money, electronic payments and agency banking; gain approval from the investment committee; oversee and contribute to the drafting of necessary funding agreements; and be closely involved in the monitoring and, eventually, evaluation of the investments.

 

•        Provide specialist advice on mobile money, electronic payments and agency banking to mobile network operator (MNOs), financial service providers, third party support service providers, and other relevant entities

 

•         Support Technical Director and other management in development and implementing strategies and business plan. Provide administrative assistance, as required. 

 

Although primarily focused on mobile money, electronic payments and agency banking addressing financial inclusion in Tanzania, this role will also cover other projects and investments made by FSD Tanzania, as required by management. 

 

The RAFS will report to FSD Tanzania’s Technical Director and will have one staff reporting directly to him or her. Travel within Tanzania and other East African countries will be required, together with occasional international travel.

 

This role will be a three year contract, subject to performance. The contract may be renewed by mutual agreement.

 

Detailed Activities

In addition to the above general responsibilities, the RAFS will be expected to:

 

Regulatory Policy Analysis• Engage with the Bank of Tanzania to provide strategic inputs and policy level assistance related to mobile financial services development
• Liaise with the Bank of Tanzania through relevant working groups, TCRA and other relevant agencies of Government of Tanzania to ensure FSD Tanzania responds effectively to policy
• Maintain global links with sources of emerging best practice, so global knowledge can be contributed to key debates
• Responsible for providing experience from field level work into higher level policy debates

Rural Access Portfolio• Assess potential new investments and undertake necessary due diligence
• Develop presentations to FSD Tanzania’s investment and steering committees, ensuring participants have access to key information in a timely manner 
• Draft funding agreements, and negotiate same with potential investees
• Work with Finance Manager to prepare funding agreement and disbursements to implement approved projects
• Monitor project progress to ensure achievement of targets set out in the funding agreement
• Manage appropriate exits from investments, including identifying and co-ordinating with new institutional investors 
• Draft project completion reports

Technical Assistance • Organize and manage technical assistance to MNOs, financial institutions, and other stakeholders.  Include support for developing proposals to FSD Tanzania
• Support market analysis, strategy and business planning - including identifying information gaps in market and institutional knowledge, customer proposition and related processes
• Identify, select and contract with consultants to provide technical assistance
• Ensure research and knowledge dissemination – including preparation of focus notes, running of industry forums, presentations of case studies, and annual benchmarking reports

Strategic and Business Planning• Develop and periodically update FSDT’s strategy for Remote Access Finance
• Integrate donor’s financial sector support activities into plans, when consistent with the FSD Tanzania’s objectives
• Liaise with international institutions, other donor programs and investors to improve capacity, promote greater harmonization of approach, and maximize goals of FSD Tanzania 
 

Operations and Administrative Duties

The RAFS will support the FM and the TD who are responsible for ensuring the FSDT’s operations and administration runs effectively and efficiently. Most administrative tasks will be handled either by the FM or the Programme Administrator. However, given the small size of the FSDT team, all members will be expected to contribute to administration from time to time. 

 

Fiduciary Responsibility

The RAFS will take all reasonable steps to avoid financial losses to FSD Tanzania, control fraud both internally and externally, comply with operating policies and procedures, ensure full transparency and accountability to Trustees, maintain and protect key financial records and data, safeguard confidential information, and avoid damage to the public reputation of the Trust.

 

Knowledge, Experience and Skills

Respondents should have at least 5, and preferably 10, years’ experience working in mobile money, electronic payments, and/or agency banking within MNOs, private financial institutions, consulting firms, or a combination of these.   In addition, candidates should have knowledge of related regulations, as well as the ability and confidence to engage at the highest levels of Tanzania’s Central Bank and financial ministries. Experience working in East Africa, particularly at the rural level, is beneficial, but not essential.   

 

Interested parties should have a strong commitment to FSD Tanzania’s goals and objectives. Prior experience preparing and managing grant agreements, subcontracts, and investments is desirable. Since FSD Tanzania is a small organization, flexibility and willingness to work with tight deadlines is a requirement of this role. Candidates should be persistent, patient, and unflappable under pressure.   

 

Successful candidates will have strong educational credentials in a relevant subject (e.g. economics, business law, telecommunication, finance, accounting, business, but others will be considered). Please also have strong financial analysis and risk management skills, excellent written and spoken English, and the ability to be an excellent team player. Other requirements of this role include being a good planner, clear and logical thinker, and good negotiator. Have experience effectively managing budgets, and be able to transfer skills effectively to colleagues and counterparts

 

Send resumes and cover letters to: advisory.recruit@tz.pwc.com