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Job Title:  Head – Vehicle Asset Finance (VAF)  

Organisation: DFCU Bank

Duty Station: Kampala, Uganda

Reports to: Chief Business Solutions & Marketing Officer

About the Company:

DFCU Bank is a fast growing commercial bank offering a variety of innovative products and services. DFCU Limited was started by the Commonwealth Development Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC) under the name of Development Finance Company of Uganda Limited. Later restructuring brought in DEG (of Germany) and International Finance Corporation (IFC) as equal partners with CDC and UDC, each having a 25% stake in the company. Its objective was to support long-term development projects whose financing needs and risk did not appeal to the then existing financial commercial lending institutions.

Job Summary:   Reporting to the Chief Business Solutions & Marketing Officer, the role holder will be responsible the role holder will be responsible for aggressively and sustainably growing the market share of vehicle and asset financing across Uganda whilst obtaining optimal profitability.

Key Duties and Responsibilities:

Financial

• Ensure that VAF business is developed on a profitable basis with the view of providing competitive and comprehensive packages which will enable the bank to increase its market share in asset financing to key sectors and segments within the framework of the bank’s strategic objectives.
• Set short–, medium– and long-term targets for VAF and monitor the results continuously to ensure that targets are met to overall business objectives.
• Establish and coordinate, in conjunction with marketing, retail and the corporate network the marketing strategies, of the VAF business in the local environment.
• Review VAF-related pricing periodically to ensure that products and services are profitable yet competitive.
• Draw up, implement and manage VAF’s new business, product and service plans, business plans and budgets.
• Understand the impact of all financial drivers affecting the financial performance of the unit as well as the management thereof to maximise the unit’s financial return.

Customer

• Exploit VAF’s, and the bank’s retail and corporate customer base, as well as non-bank customer potential.
• Analyse and remain abreast of industry information and competitor activity and communicate such information to VAF’s team and senior management.
• Develop meaningful relationships with dealer/supplier/importer network, major customers, and industry bodies and associations countrywide through personal contact.
• Develop meaningful relationships with key internal support areas.
• Ensure effective exploitation of VAF opportunities in ecosystem and workplace banking initiatives

Internal Business Processes.

• Develop meaningful financial and product-specific management information and procedures in line with the bank’s strategies on an ongoing basis.
• Develop appropriate product solutions and related training programmes and targets for the sales teams.
• In cooperation with legal and credit develop effective VAF contracts.
• Keep up to date with tax legislation, regulatory and other applicable acts as well as related aspects of legislation such as stamp duties, and any related developments in the country.
• Evaluate the effects of any changes in legislation on VAF’s business and arrange for the update of contracts, etc., via the bank’s legal advisors.
• Oversee the deployment of appropriate technology (IT) software to be available in the Bank and at dealership co-locations.

Product Development

• Continuous development of VAF solutions to fully exploit market opportunities. These would include but are not limited to Hire Purchases, Personal Contract Purchases, Lease Purchases, Personal Contract Hires, Finance Leases, Operating Leases, Hire purchases, Equipment Loans, Asset Refinance, Credit Lines, Inventory Finance, Payment Structures, Revolving Credit/floor plans.

Credit Origination and Portfolio Management

• Interpret business and financial information e.g. consolidated balance sheets, complex financial statements, management accounts with inter-company loans and borrowings and/or offshore holdings, debtors’ lists, and cashflow projections to prepare and motivate non-scored credit applications in line with Credit requirements and agreed covenants.
• With a focus on VAF completed in collaboration with relationship managers and account executives, annual credit reviews and authority-sought requests for the portfolio.
• Completes all requests of a VAF Credit or Collateral nature on behalf of the client, in consultation with Relationship Managers.
• In collaboration with retail banking, corporate banking and credit, develop and mandate a credit risk appetite for Vehicle and Asset Finance.
• Monitoring of daily excesses to ensure that client facilities are managed within the parameters set by May exercise discretion (with management approval) regarding account conduct based on a close knowledge and understanding of client activities.
• Daily monitoring of the portfolio to ensure that delinquency levels are managed with the risk appetite.
• Accurately and efficiently collating and checking securities documentation and mandates for VAF contracts.
• Timely execution of facility letters.
• Strong preventive action to contain operational losses.
• Act as an escalation point for any identified risks to senior management.

Strategic Alliances

• Develop strategic alliances with VAF dealerships, suppliers, leasing companies, fleet management firms, and others.
• Sales (Through Manager – New Business Development, VAF)
• Data mining i.e. investigating and understanding customer’s sector, portfolio data to identify opportunities for additional facilities.
• Explain, promote and cross-sell additional value-adding solutions to existing customers
• Identify sales leads, in consultation with the RM.
• Research clients, their business, operations and performance, as well as trends in their specific industries at the request of the RMs/AEs.
• Compile and analyse information regarding sales activity and business pipeline on a weekly, monthly and quarterly basis.

Compliance

• Provide complete disclosure to customers in terms of accreditation and pricing.
• Required to obtain/acquire documentation for record-keeping purposes
• Compliance with general banking and credit policies and procedures

Qualifications, Skills and Experience:

• University Degree from a recognized institution.
• Skills in in Sales, Credit & Relationship Management will be an added advantage.
• 3 -5 Years Experience in managing people.
• Above-average understanding of the asset finance industry and its economic drivers.
• Ability to distinguish between asset financing and “traditional” lending.
• Sound financial statement analysis.
• Accurate risk assessment.
• Keen sales focus and ability.
• Sound administration skills.
• Track record in sales management, credit and vehicle and asset finance.
• Over 5 Years experience in banking in relevant fields.
• Relevant business experience and acumen.
• Adequate exposure to the motoring industry.
• Exposure to strategic management.
• Good verbal, written and telephonic communication skills.
• Numerate/ Data rational: Is good with numerical data, operates on facts, and enjoys assessing and measuring.
• Socially Competent: Converses clearly and easily with others, puts people at ease, is good with words and knows what to say (even when communicating disagreeable information).
• Displays Empathy: Is interested in understanding others’ points of view, is considerate towards others, tolerant and helps those in need.
• Conceptual: Enjoys the complex and the abstract, intellectually curious.
• Detail Conscious: Likes to get every detail right, methodical and organized, precise, accurate, neat with paperwork, systematic.
• Conscientious: Sticks to deadlines, completes jobs and perseveres with routines.
• Analytical: Identifies and analyses patterns and trends, sees the relationship between cause and effect, and has an inquiring mind.
• Critical: Good analytical skills at probing the facts, challenging assumptions, and seeing disadvantages.
• Planning: Prepares well in advance, enjoys setting targets, and plans activities.
• Resourceful: Displays practical ingenuity and is skilled at devising expedient and practical solutions without help.
• Resilient: Thick-skinned, recovers quickly from setbacks, is rarely upset by criticism, and is emotionally restrained.
• Persuasive: Is convincing with arguments, negotiates, and changes the opinions of others.
• Group orientated: Enjoys working in a team, is supportive of and patient with others.
• Results orientated: Thorough and diligent, energetic and productive, enjoy hard work, may get bored if the pace is too slow.
• Integrity and honesty.
• Strong team player

Other:

• The ideal person for this position needs to display a passion for the asset finance industry, with a thorough understanding of the underlying principles unique to this business.

How to Apply:
If you believe you meet the requirements as noted above, please forward your application with a detailed CV including your present position and copies of relevant professional/academic certificates, to the email address indicated below:

Vacanciesbank@dfcugroup.com

Deadline: 3rd September 2024.

NB: Only shortlisted candidates will be contacted. Please note that all recruitment terms and conditions as stated in the HR Policies and Procedures Manual shall apply.

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