POSITION SUMMARY
The Financial Services Advisor will lead the Financial Market Systems Analysis and Information component of the program, ensuring harmonization between this work and that of 1) MC’s broader leadership in this program; 2) other partners within the overall approach and direction of the LI-WAY program; and 3) strategy of Mercy Corps Ethiopia.
LI-WAY is a SIDA-funded program that aims to contribute to sustainable poverty reduction and stability for 200,000 women and youth in Addis Ababa. The consortium, led by SNV, additionally comprises Technoserve and Save the Children. The program aims to improve market functions, improve support-service effectiveness and improve the business environment. MC will lead all activities related to financial services and market information systems, and will manage the Challenge Fund. LI-WAY lasts for five years of which the first eight months will be an inception phase.
The Financial Services Advisor will also be a member of the MC Economic and Markets Development (EMD) Team, which uses market systems development to stimulate economic growth to create wealth and jobs for the poorest while maximizing investment from the private and public sectors. As a member of the EMD team, the Financial Services Advisor will contribute analytical thinking and innovative approaches and will support integration and harmony of approaches across all Mercy Corps Ethiopia market-driven programming. The EMD team is also expected to contribute up to 20% of its collective time towards new program development.
ESSENTIAL JOB FUNCTIONS:
The Financial Services Advisor is responsible for management and implementation of MC’s thematic areas of financial systems development. Key job functions include the following:
· Provide overall management, coordination and leadership to the Financial Services team within the broader MC LI-WAY team
· Develop, implement, monitor progress of work plans within the Financial Services area that can be adaptively managed
· Support learning initiative of the program within the Financial Services area for policy change
· Related to Financial Services area, propose key monitoring and measuring indicators, milestones and plans; monitor and reporting all output, outcome and impact indicators for respective market system(s)
· Ensure the Financial Services area captures and responds to up-to-date information about market developments within respective market systems and global best practices for Economic & Markets Development.
Functions Specific to Inception Phase
· Build up the Financial Services team: recruit, induct and set the tone for a strong and collaborative team; provide professional and technical mentorship
· Conduct analysis of market system functions in Addis Ababa in manufacturing and service sectors; assess key challenges to inclusiveness, productivity and efficiency
· Conduct assessment of financial services sector in Addis Ababa, including understanding constraints related to financial identity, access to financial service, technology to enhance financial inclusion, asset finance and credit innovations and Sharia-Compliant finance
· Work with the Labor Market Information Systems Advisor to identify areas in which the two areas are integrated and have the most potential for growth
· Propose strategies for improving market system performance, including making business strategies more inclusive and beneficial to enterprise productivity
· Support development of learning platform related to Financial Services, to be utilized throughout life of program
Functions Specific to Implementation Phase
· Manage implementation of strategies to facilitate access to finance amongst youth and women in Addis Ababa; boost financial service offerings, ranging from local Accumulated Savings and Credit associations, Savings and Credit Organizations, microfinance services and mobile phone based banking services. Conduct activities to connect young entrepreneurs to financial service providers through methods including, but not limited to, development of inclusive financial services products, market system development through linkage with the IB accelerator platform and engagement with savings and loan associations and microfinance institutions (MFIs).
· Manage implementation of strategies to strengthen and create linkage between technology providers with MFIs to adopt new technologies and system that can expand outreach of their inclusive financial service to create access to financial service to target beneficiaries.
· Continuously ensure integration of activities with those of other areas within and outside of Mercy Corps’ leadership.
KNOWLEDGE AND EXPERIENCE:
· Deep understanding and mastery of Markets4Poor approach and Economic & Markets Development facilitation including coaching, relationship building, communicating, entrepreneurialism/business understanding and innovating.
· Familiar with all aspects of the relevant market systems including key actors, micro-financial institutions (MFIs), banks, Insurances, information service providers, inputs suppliers, producers, traders, intermediary and terminal markets governance frameworks (formal and informal); and all support markets and functions;
· Bachelor’s degree in economics, business administration, agribusiness, or other related field, or commensurate private sector or field experience is required
· Minimum of 3 years’ experience in private sector or working with other agencies in market systems facilitation, agribusiness or financial services
SUCCESS FACTORS:
· Fluent in English and Amharic
· Business minded, entrepreneurial, adaptive, curious, great problem solving skills, unafraid to ask questions, and results motivated.
· Excellent communication, facilitation and networking skills with a wide range of private, partner and NGO-sector actors
· Computer literate especially in Microsoft Office (Word, Excel, PowerPoint, Outlook)