Job Description

A hiring opportunity exists at the iMasFinance Cooperative Head Office in Centurion to fill the above senior management position. Preference is given to qualifying candidates from the designated groups, in support of the iMas transformation strategy.

JOB OVERVIEW

The Head: Business Operations - is a senior-level position within iMasFinance responsible for leading and overseeing Business Operations, Commercial Credit Finance, Debt Collections, and Member Support operations. This plays a critical role in driving business growth, maintaining loan quality, and managing risk exposure. The role involves managing a team of professionals who specialize in:

• assessing and evaluating credit risks associated with commercial loans and ensuring the portfolio's profitability and compliance with relevant regulations
• implementing and executing of all strategic priorities and operational tactics associated with credit verifications, debt collections, asset recovery, accounts management and member administrative support.

KEY RESPONSIBILITIES AND OUTPUTS

• Develop and execute a comprehensive operational strategy aligned with IMasFinance's overall business objectives, ensuring operational efficiency and effectiveness.
• Identify and implement initiatives to enhance operational processes, streamline workflows, and improve productivity across various Sales and Collections functions.
• Oversee implementation and compliance with risk management policies and procedures to mitigate operational risks and maintain regulatory compliance.
• Collaborate with finance and accounting teams to monitor operational costs, budget allocation, financial performance and identifying areas for improvement or cost-saving opportunities.
• Identify and leverage technology solutions to automate processes, improve operational efficiency, and enhance customer service delivery.
• Establish key performance indicators (KPIs) and metrics to monitor operational performance, develop reports, and present findings, making data-driven recommendations for improvement.
• Strategic oversight and adherence to NCR and FICA compliance and implementation of iMas's Verification Standard Operating Procedure for granting of credit.
• Provide insight to the iMas Management and Credit Committee on trends in collections and possible amendments to iMas's credit appetite.
• Develop and implement strategies and tactical plans for the collection of debts, amounts in arrears, bad debts, advances in arrears and asset recoveries in accordance with iMas's policies.
• Appoint and manage panel of external debt collectors (EDCs), attorneys, and other external vendors to render services to iMas.
• Ensure collection channels (salary deductions, debit orders and DebiCheck) are available and operating optimally.
• Engage with employer group management in resolving any collections related matters - act as link between external employer partners and the iMas Group Brand Ambassadors.
• Strategic engagement with external stakeholders, industry and agreed partners.
• Build and maintain strong relationships with identified bodies and stakeholders and engage with employer group management in resolving any collections related matters.
• Inspirational and visionary leadership, providing positive influence on the organizational culture and climate and oversee talent attraction, retention, development, and performance within the department.

MINIMUM REQUIREMENTS

• Bachelor's Degree in Business Management / Administration / Finance or relevant and equivalent fields.
• Honours or Master's Degree in the afore-mentioned fields. MBA will be an advantage.
• Valid Driver's License (manual operated vehicle) - Essential / Minimum.

EXPERIENCE

• 6 to 8 years in a senior leadership role within the banking or financial services industry, overseeing business operations.
• 3 to 5 years banking operations, risk management, compliance, and regulatory frameworks experience in the financial services industry at senior management level

KNOWLEDGE AND SKILLS

• Specialized skills in financial modelling, structured finance, project management, treasury management
• Compliance, Governance & Business Strategy,
• Ability to interact and engage at Executive and Board level.
• Demonstrate excellent understanding of the Commercial Business requirements, and involvement in structuring commercial deals.
• Excellent knowledge of revenue management including managing costs in the collection's portfolio,

• Demonstrated experience in process improvement methodologies, such as Lean or Six Sigma, is preferred.
• Risk, technological financial acumen, analytical skills and keeping abreast of best practices,

• Corporate credit, collection agencies, legal and compliance procedures, credit risk and account management skills and knowledge.
• In-depth knowledge and understanding of the full credit lifecycle.
• Thorough understanding of the financial services industry from a business perspective
• Ability to deal with uncertainty and make decisions with limited information, thus action oriented.
• Balance commercial debt recovery, compliance and risks and act in the best interests of members to achieve positive outcomes.
• Knowledge of Customer Relationship Management Applications/ Software
• Microsoft Office Suite proficiency, with advanced Excel skills.
• Proven leadership, people management and change management skills

iMasFinance