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Job Opportunities in the Act Portfolio

Act Venture Capital Ltd

Deposits Acquisition Manager

Umba

Umba

Nairobi, Kenya
Posted on Monday, February 26, 2024
Our mission entails providing accessible and cost-effective financial services across Kenya, enabling our customers to take charge of their financial well-being. We are committed to seizing a unique opportunity to transform the financial landscape in Kenya by harnessing the power of machine learning to develop intelligent, affordable financial products tailored for emerging markets. Our machine learning models are continuously improving, and we leverage AI and automation to deliver banking solutions at the lowest possible cost to our expanding customer base.
We have acquired a deposit taking Microfinance bank to allow us to offer full digital banking services in Kenya. Our primary focus is to offer a comprehensive range of digital banking products through Android and iOS Apps, and we take pride in our culture of consistently surpassing customer expectations, which has fueled our rapid expansion.
We are actively seeking outstanding individuals who not only possess exceptional talent but also share our vision, determination, and sense of purpose. Join us in our endeavor to establish the largest neo-bank in Africa.
Job Summary
Umba is currently in search of a Deposits Acquisition Manager to join our team based in our Kilimani Office. The Deposits Acquisition Manager is responsible for developing and executing strategies to attract and retain deposits from various sources, including corporate clients, individuals, and other financial institutions. This role involves creating and implementing effective business plans, managing client relationships, and ensuring compliance with regulatory requirements. The Deposits Acquisition Manager works closely with internal teams, to achieve deposit mobilization targets and contribute to the overall growth and profitability of the organization.
Responsibilities
  • Develop and execute a thorough business strategy aimed at deposit mobilization, including the identification of target markets, growth prospects, and key performance metrics.
  • Establish and nurture relationships with corporate clients, high net-worth individuals, and institutional investors to attract deposits and expand market share.
  • Analyze market trends, competitor activities, and customer preferences to identify potential deposit opportunities and tailor solutions accordingly.
  • Collaborate with product development and marketing teams to devise and introduce innovative deposit products and promotional campaigns to attract new customers.
  • Monitor deposit accounts and transactions to ensure adherence to regulatory requirements and policies.
  • Provide training and guidance to the other teams to enhance their proficiency in deposit mobilization techniques.
  • Prepare and deliver regular reports and updates on deposit mobilization activities, performance metrics, and market insights to senior management.
  • Keep abreast of industry developments, regulatory changes, and best practices in deposit mobilization to continuously refine strategies and processes.
  • Manage deposit-related risks and challenges, such as liquidity management, interest rate fluctuations, and customer attrition, to minimize potential impacts on business operations.
  • Foster a culture of teamwork, collaboration, and customer-centricity within the deposit mobilization team to ensure alignment with organizational objectives.

Qualifications and Experience
  • Bachelor's degree in Finance, Business Administration, Economics, or related field;
  • Minimum of 5 years’ experience in deposit mobilization, banking, or financial services, with a proven track record of achieving targets and driving business growth.
  • Strong understanding of financial products and services, deposit regulations, and market dynamics.
  • Excellent communication, negotiation, and interpersonal skills, with the ability to build rapport with diverse stakeholders.
  • Analytical mindset with the ability to interpret data, identify trends, and make informed decisions.
  • Proficiency in G-Suite and banking software applications.
  • Demonstrated leadership abilities, including strategic thinking, problem-solving, and decision-making skills.
  • Ability to work independently and collaboratively in a fast-paced, dynamic environment.