Digital Financial Services can be defined as financial services provided over non-traditional channels like mobile phone, internet, or banking agents. It has the potential to foster access to formal financial services for many individuals in emerging and developing countries. Current estimates indicate that 1.5 billion individuals, especially women, could benefit from financial inclusion efforts driven by digital solutions until the year 2025.
Rural households suffer particularly from lack of financial infrastructure and high transaction costs. These costs are not only direct costs such as transportation expenses to reach the nearest bank branch, but also include opportunity costs such as the time spent on the journey or on waiting in queues before being served.
Tasks within the sector could be
- Provide technical assistance to the Central Bank to harmonize existing mobile money/ e-money regulations into one unified regulatory framework;
- Provide technical advice to banks in offering agency banking services, ranging from product development and agent selection to agent management;
- Design customer centric financial products aiming rural population living in very remote areas of the country;
- Design and perform a digital financial services market assessment or feasibility study;
- Post graduate or Master degree in Economics, Finance, Banking, Development, Information Technology, Social Sciences or related fields or equivalent experience is mandatory;
- A minimum of seven years of progressively responsible experience in banking, financial service sector, international remittances, payments or related experience in private sector or an international organization is mandatory;
- A minimum of five-year experience designing, conceiving, and prototyping digital finance solutions, payments or remittance related use-case drivers is mandatory;
- Adequate understanding of legal and regulatory aspects related to digital financial services, such as know your customer, AML/CFT rules, etc.;
- Experience in development of digitally-enabled products and services for mass market, including rural or low-income communities, e.g. extensive development of products, pricing, marketing strategies, delivery channels, SWOT analysis, financial projections and building value propositions. Experience of human centred design methods would be a plus;
- Project management experience, including multi-tasking to lead, work independently and execute multiple time-sensitive projects in parallel;
- Experience managing or conducting research, particularly related to product development or client demand would be a plus;
- Experience working with Central Banks, public and private sector stakeholders, government departments, industry associations would be a plus;
- Strong written, oral communication and presentation skills
- Prior working experience in Africa is preferred;
- Written and spoken fluency in English is required;
- Written and spoken fluency in French, Portuguese, Spanish or German is required;
- Additional languages skills would be a plus.