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Reporting to the Chief Enterprise Business Unit Officer, the Head of Department/ Tribe Lead – BFSI (Banking, Financial Services & Insurance) Tribe will undertake the below.
- The BFSI Tribe Lead, will develop the Strategy and mission of BFSI tribe, aligning it with Safaricom’s overall objectives and goals in the financial services industry.
- The role holder will play a pivotal role in driving growth and increase Safaricom’s penetration in the financial services industry through innovative solutions, strategic partnerships, and market expansion initiatives.
- He/she will identify and capitalize on opportunities to leverage Safaricom’s existing infrastructure and network to create seamless and convenient financial services experiences for customers.
- He/she will foster collaboration and cooperation with key stakeholders, both internally and externally, to ensure the successful execution of the tribe’s strategy and mission.
- He/she will continuously monitor market trends, customer needs, and competitive landscape to inform decision-making and adapt the tribe’s approach accordingly.
- He/she will champion Safaricom’s position as a leading player in the financial services industry by delivering exceptional value to customers and driving positive customer experiences through technology and innovation.
- He/she will lead enterprise sales efforts for banks, Saccos, credit institutions, MFIs, fintech companies, wealth management, and insurance, resulting in revenue growth, channel profitability, and increased market share.
- He/she will ensure profitability by effectively controlling solution pricing, cross-subsidization levels, and discounts according to product management guidelines.
- Leadership and Strategy: Responsible for providing strategic direction and leadership to the BFSI Tribe. This involves defining the overall vision, goals, and objectives of the tribe, aligning it with the organization’s business strategy, and ensuring that the tribe’s activities contribute to the achievement of broader business goals.
- Tribe Management: Oversee the day-to-day operations of the tribe, including managing a team of professionals within the BFSI domain. This involves setting clear expectations, providing guidance and support, and ensuring that the team is working efficiently and effectively.
- Stakeholder Management: As a Tribe Lead, he/she will act as a key interface between the tribe and various stakeholders, both internal and external. This includes engaging with business leaders, product owners, customers, and other relevant parties to understand their needs, gather feedback, and communicate the tribe’s progress, achievements, and challenges.
- Resource Allocation: Responsible for allocating resources within the tribe, including budget, manpower, and infrastructure. This involves prioritizing initiatives, assessing resource requirements, and making decisions regarding resource allocation to ensure the successful delivery of projects and initiatives.
- Agile Delivery: Play a crucial role in facilitating and supporting agile practices within the tribe. This includes promoting collaboration, ensuring effective communication, removing obstacles, and fostering a culture of continuous improvement and learning.
- Solution Design and Development: Work closely with solution architects and development teams to design and deliver scalable, reliable, and secure enterprise solutions.
- Ensure adherence to architectural standards, best practices, and industry regulations.
- Oversee the development and integration of enterprise applications, platforms, and systems.
- Project and Delivery Management: Manage the end-to-end solution delivery process, including project planning, resource allocation, risk management, and quality assurance.
- Collaborate with cross-functional teams to ensure timely and successful project delivery.
- Monitor project progress, track key performance indicators, and provide regular status updates to stakeholders.
- Risk Management: In the BFSI domain, risk management is of utmost importance. One will be responsible for identifying and managing risks associated with the tribe’s initiatives, ensuring compliance with relevant regulations and industry standards, and implementing appropriate controls and measures to mitigate risks.
- Performance Monitoring and Reporting: Track and monitor the performance of the tribe, including key metrics, progress against goals, and delivery timelines. You are responsible for providing regular reports and updates to senior management, highlighting achievements, challenges, and opportunities for improvement.
- Collaboration and Cross-functional Coordination: As a Tribe Lead, one fosters collaboration and coordination with other tribes, teams, and functions within the organization. This involves working closely with other Tribe Leads, Product Owners, and stakeholders to ensure alignment, shared goals, and effective cross-functional execution.
- Talent Development: Responsible for the development and growth of your team members within the BFSI Tribe. This includes providing mentorship, coaching, and opportunities for learning and skill development. You also play a role in talent acquisition, retention, and succession planning within the tribe.
- Development of Integrated Solutions: Lead the development of integrated solutions for the sector. This involves defining what will be delivered to the industry and how it will be achieved to drive impactful and value-driven solutions that address the specific needs of the industry while aligning with the organization’s overall strategy.
- Revenue Growth: While revenue growth is typically a shared objective across the organization, as a Tribe Lead, one plays a crucial role in driving revenue generation within the sector to actively contribute to the financial success of the organization.
Core competencies, knowledge and experience
- Deepen team connection to our customers and communities.
- Foster authentic relationships with customers and partners that build trust.
- Explicitly take customer-centric decisions and take personal ownership to achieve results.
- Simplify processes through digitization and promote a digital mindset and digital first customer experience.
- Stay focused on the big priorities, know when to make meaningful trade-offs and demonstrate brilliant execution.
- Create an inspiring vision for your team to drive strategy and performance.
- Show ambition and courage, empowering others to go beyond the plan.
- Are bold and challenge teams to reimagine how things are done.
- Prompt new thinking and ideas by asking “what if” questions.
- Use knowledge of the external environment (customers, partners, competition, external bodies) to identify and act on opportunities for growth at pace.
- Create psychological safety so everyone can have an impact.
- Fuel innovative ideas from others and test them to enable growth.
- Explore successes and failures with curiosity and resilience; fearlessly recognizing lessons learned.
- Share your ongoing learning and personal purpose with others.
- Learn fast from digital adoption, using learnings to drive simplicity, scale and efficiency.
- Articulate your team’s role in making our strategy happen, prioritizing and aligning resources with current and future needs.
- Actively collaborate to break silos and hold your team accountable to do the same.
- Develop others to make the most of their talents and coach them to take ownership to get things done.
- Create an inclusive environment ensuring the safety and wellbeing of others.
- Live our Purpose and demonstrate the highest Standard of integrity.
Key performance indicators:
- Market Penetration: Expand Safaricom’s market share in the BFSI sector by increasing the number of customers, transactions, or active users of financial services products and solutions.
- Revenue Growth: Increase revenue generated from Safaricom’s financial services offerings within the BFSI sector by a specified percentage or amount over a defined period Annual revenue growth rate for the BFSI Tribe.
- Customer Retention: Customer retention rate (percentage of customers retained over a specific period), Percentage decrease in customer churn rate and Number of customer escalations and complaints resolved within a defined timeframe.
- Customer Obsession – NPS: Net Promoter Score (NPS) reflecting customer satisfaction and loyalty. Percentage increase in the number of promoters and % decrease in number of detractors.
- Develop Sector Expertise – Banking, Sacco, and Insurance: Percentage of team members with sector-specific certifications or training. Number of successful projects delivered within the banking, Sacco, and insurance sectors.
- Employee Net Promoter Score (eNPS) – 90%: Employee Net Promoter Score reflecting employee satisfaction and engagement. Percentage increase in the number of promoters and % decrease in number of detractors.
- End-to-End Order Fulfillment: Order fulfillment cycle time (from order placement to delivery). % increase in on-time delivery and decrease in order errors
- Tech Ops – Design, Scope, Deployment, and Support: Time taken for the design and scope phase of technology operations projects. Time taken for the deployment and implementation of technology solutions. Number of successful technology deployments and Customer satisfaction with technology support services.
- Strategic Partnerships: Establish strategic partnerships with key players in the BFSI industry, such as banks, insurance companies, and fintech providers, to enhance Safaricom’s competitive advantage and expand the range of financial services offered.
- Risk Mitigation: Implement robust risk management processes to identify, assess, and mitigate potential risks associated with financial services operations. Monitor key risk indicators and ensure compliance with relevant regulations and industry standards.
- Psychological Safety: Team feedback, Open communication: Track the frequency and quality of open and honest communication within the team.
- University Degree in Business/MBA along with technical qualifications, or equivalent qualification
- Bachelor’s degree in business administration, Finance, Economics, or a related field. A master’s degree would be an added advantage.
- Minimum of 10- 15 years of relevant experience in the financial services industry, with a strong focus on strategy development, business growth, and leadership roles.
- Deep understanding of the BFSI sector, including banking, insurance, and other financial services. Familiarity with mobile money, digital banking, and fintech trends would be highly beneficial.
- Proven track record of successfully driving strategic initiatives, leading teams, and achieving business results in a dynamic and competitive environment.
- Excellent analytical, problem-solving, and decision-making skills, with the ability to translate market insights into actionable strategies.
- Strong interpersonal and communication skills, with the ability to influence and engage stakeholders at all levels.
- Demonstrated ability to manage multiple priorities, meet deadlines, and adapt to changing business needs.
- Management of the partners and channels budget.
- Results-oriented mindset with a focus on revenue growth, channel profitability, and market share.