Head of Business, Research and Product Development – Parwaaz Financial Services

Organizational Overview:

Parwaaz Financial Services (PFS) will a wholly owned subsidiary of Karandaaz Pakistan – A not-for-profit company funded by FCDO (Foreign, Commonwealth and Development Office) and BMGF (The Bill and Melinda Gates Foundation) with the vision of having a Financially Included, Empowered Pakistan. Karandaaz works for Financial Inclusion of the MSME through a commercially directed platform. As part of the commitment to increasing access of capital for SME sector, Parwaaz Financial Services will be incorporated as a Non-Bank Financial Company (NBFC) registered with SECP which will be solely focused on providing Credit and Financial Services to the SME Sector which is underserved when compared to other countries in the region.

Karandaaz’s vision is to create a best in class NBFC that can innovate, use cutting edge technology and think of out of the box solution for providing customized solutions for financing needs of the SMEs. The entity will be headquartered in Lahore but is expected to gradually expand its operations across Pakistan.

Position Overview:

The incumbent for this position will lead the business and product development for PFS, creation of SME product plans, and devise an overall business strategy by establishing strong sales network to target the SME market. The incumbent will evaluate the potential and practicality of products in development and relies on extensive experience and judgment to plan and accomplish goals. This position requires exercising independent judgment to perform the responsibilities described herein. The incumbent will need to demonstrate his/ her ability as an astute planner, strategist & implementer with demonstrated abilities in devising new products for the acceleration of business growth.

Job Tasks:

• Create SME product plans for the NBFC and an overall business strategy by identifying, analyzing and recommending newer markets, products and business streams for SME lending business.
• Identify target Industry segments, collect and analyze feedback from primary and secondary data sources to shape features of the end products for lending business.
• To plan in the development, marketing and distribution of the product, to monitor and measure the performance of the products after it is launched.
• Establish effective goals, sales targets, and policies that will benefit the organization and increase revenue, closely work with departmental heads to outline procedures that will meet growth objectives.
• Oversees key projects, processes and performance reports, data and analysis
• Develops and implements methods and procedures for monitoring projects such as preparation of records of expenditures and research findings, progress reports, and staff conferences, in order to inform management of current status of each project
• Negotiates contracts with consulting firms to perform research or other applicable studies or support
• Develop robust process from loan origination to disbursement while taking along key stake holders and develop partnerships with external organisations such law firms, credit bureau etc.
• Develop partnerships with like-minded organisations like SMEDA, Chambers, and business associations and maintain strong liaison with internal stake holders such as Risk, CAD, and Operation for smooth business operation.
• Put in place robust systems to gather and organise data and design and deliver internal and external learning dissemination.
• Mentor project staff and relevant stakeholders to enhance their understanding of the NBFC products, specifically focusing on data tools as well as the flow and frequency of data collection, capturing relevant information, analysis, etc.
• Ensure performance management and professional development of staff.
• Nurture the teams mind set and skills for development of digital lending solutions with improved and seamless customer experience.
• Conducting competitor benchmarking and assessment of product landscape and prepare updates for management on competitor offering s/ activity.
• Be an active part of scoping of business requirements and guide and lead in product construct, design and solution architecture & UATs from a product, process and customer journey perspective.
• Ensure product programs are in sync with Compliance & Audit Regulations

Functional Skills / Knowledge Areas:

• Knowledge of SME, microfinance banking products and international lending practices from a product, risk, compliance an operational perspective.
• Hands on understanding in Product development, Product Life Cycle, Credit Analysis, Strategy Planning, Market Penetration, Marketing & Business numbers
• Excellent leadership, communication, project management and analytical skills
• Be able to manage cross functional teams and deliver results in timely manner with quality and in accordance with desired scope
• Excellent stakeholder and people management. Strong coordination and collaboration skills to manage variety of stakeholders
• Problem solving skills and able to manage conflict(s).
• Creative and innovative mind-set

Eligibility Criteria:

Education:

• Masters in Economics, Finance, Business, Accounting or related field required from a reputable international or Pakistani Institution

Work experience:

• Minimum 12 years of relevant work experience, especially experience in SME area, lending experience with banks or NBFCs.
• Must have the capability to identify sector-based product programs, its launching, training and implementation to finally convert in revenue streams of the company.
• Must know about SME clusters, assist research team to come up with value chain analysis of different sectors and identify product programs based on those analysis
• Must have the capability to identify different Risks in product programs and suggest mitigation
• Must be able to handle regulatory issues and different quires raised by the regulator

Candidates can email their resume and cover letter to careers.parwaaz@karandaaz.com.pk clearly mentioning the position title in the subject line. The deadline for applications is 22^nd November 2020.

Parwaaz Financial Services will be an equal opportunity employer. Women and people with disabilities are encouraged to apply. Market competitive remuneration and benefits will be offered.

Please note that the recruitment for PFS is managed by Career Pakistan.