Family Bank (formely Family Finance Building Society) was registered as a Building Society in October 1984 in Kenya, under the Building Societies Act and commenced operations in the early 1985. Family Bank converted into a fully fledged bank in May 2007 and the main driver for our conversion was the need to offer a wider range of products and services to our customers.
Reporting to: Chief Executive Officer and Managing Director.
Job Purpose:
The Chief Commercial Officer has overall responsibility for the development and implementation of commercial strategies of the Bank. This also extends to overseeing the commercial Lending portfolio, taking the lead in defining policies governing commercial aspects of the business and its operations and ensuring that the business fulfills overall budget. In addition, the incumbent is responsible for staying abreast on industry and regulator changes, trends and news in order to ensure competitiveness, product, pricing, compliance and policy alignment.
Key Responsibilities:
- Analyses the bank, its history and activity within the industry and use the information to set viable commercial KPIs/targets.
- Asset quality management.
- Develop and implement sales processes that support the achievement of designed KPI’s.
- Develop and implement strategies to drive market adoption of new products launched.
- Develop and initiate customer acquisition and retention strategies.
- Understands customers’ needs and provide crucial inputs for product development while contributing to sales & marketing.
- Manage the business on a P&L perspective, rather than pure revenue focus.
- Participate, monitor and report on lending activity to ensure a high quality loan portfolio.
- Participate in the monitoring of interest rate activity and take action to adjust interest rate structures appropriately to ensure a balanced competitive market position while helping to minimize the Bank’s exposure to interest rate risk.
- Responsible for the translation of new or revised lending policy and procedure to staff. Takes the lead on ensuring that training, information and relevant materials is available.
- Provide leadership to the commercial teams and drive growth of the developing/promising talent.
- Responsible for driving the overall productivity and performance of the Commercial banking department.
- Responsible for identifying and reporting potential and actual Money Laundering Risk, including suspicious transactions in accordance with the laid down AML/CFT policies & procedures.
- Develops, Coaches, motivates and manages the performance of individuals and teams within Commercial Banking units.
- Actively provides leadership by contributing to the collective Leadership Agenda and sharing business insights/ feedback to maximise the overall performance and wellbeing of the bank.
- Any other official duty that may be allocated by the line manager from time to time.
Key Competencies and Attributes
- Must be a Strategic thinker.
- Commercial awareness of the industry.
- Possess high analytical ability.
- Entrepreneurial/business acumen skills.
- Project management.
- Proven experience in team management, supervision or leadership, including performance management, people development, coaching or mentoring experience.
- Able to manage and influence others to achieve results.
- Have thorough understanding of financial management, regulatory compliance, board reporting, as well as demonstrable commercial and business acumen.
- Solid business understanding of the entire suite of banking products in commercial banking.
- Demonstrate leadership, commercial and financial analysis and reporting skills.
- Possess strong organizational and stakeholder management skills and ability to grasp business risks and make sound decisions.
- Strong team player and ability to work within diverse teams in diverse cultural environments.
Qualifications:
- Be a holder of a business related Bachelor’s degree gained from a recognized institution.
- A Post Graduate Qualification in a business related field will be an added advantage.
- Demonstrated skills, knowledge and experience in the design and execution of business plans and strategies.
- Experience in data-driven approach to marketing planning and execution.
- Experience in all facets of selling lifecycle including business development, sales, marketing, product management, and channel development.
- Sound knowledge of the Banking Act and the regulatory framework in the Financial Services Industry.
- Have knowledge and relevant work experience of not less than ten (10-15) years, with at least seven (7) years served in senior leadership position in a related role.
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