Job Title: Head of Operations

Location: Malé, Maldives
Reports To: Chief Executive Officer (CEO)
Position Type: Full-Time

About the Development Bank of Maldives (DBM)

The Development Bank of Maldives (DBM) is an institution dedicated to fostering economic resilience and sustainable development in the Maldives. We focus on providing long-term financing solutions to drive infrastructure projects and other key sectors that contribute to the national economic agenda. The Head of Operations will play a pivotal role in establishing and maintaining the operations of the Bank required to achieve the bank's strategic goals and meet its licensing requirements.

Position Overview

We are seeking a highly experienced and proactive Head of Operations to lead the development and implementation of DBM's operational infrastructure. This individual will be instrumental in setting up and managing the bank's core operational frameworks, systems, and processes, specifically for long-term lending to infrastructure projects. The ideal candidate will have a strong background in setting up and managing banking operations, with extensive experience in the processes, systems, and regulatory aspects involved in the long-term lending domain.

The candidate could come from either a consulting or operational corporate banking environment but must demonstrate a deep understanding of the entire lifecycle of long-term loans. The role requires familiarity with infrastructure finance, an understanding of the regulatory environment in banking, and the ability to independently create appropriate infrastructure through internal systems, service-level agreements (SLAs) with third-party providers, or a hybrid approach.

Payment processing or account opening, or account management processes in a corporate or commercial banking environment are not a focus

Key Responsibilities

1. Operational Infrastructure Development
• Design and establish DBM's operational processes and procedures for long-term lending, ensuring alignment with the bank's strategic objectives.
• Develop a robust operational framework to support infrastructure financing and large-scale projects, with a focus on efficiency, scalability, and regulatory compliance.
• Work independently to create operational infrastructure by establishing internal systems or through third-party service level agreements, or a combination of both.
2. Systems Implementation
• Lead the procurement, implementation, and integration of core banking systems suitable for processing and managing long-term loans, such as Finastra, Finacle, or Temenos T24 or find an outsourced partner who can provide this on a cost effective basis
• Ensure the banking systems are effectively aligned with operational needs, regulatory requirements, and the bank’s service offerings.
• Liaise with IT vendors, or banking partners and internal teams to develop a customized banking solution that supports seamless long-term loan management.
3. Regulatory Compliance and Risk Management
• Stay updated on the local regulatory requirements related to banking operations, ensuring compliance in all aspects of loan processing and operational functions.
• Develop and implement risk management protocols that address operational risks associated with long-term lending.
• Collaborate closely with the Risk Management department to ensure that operational processes align with the bank’s risk appetite and compliance frameworks.
4. Operational Efficiency
• Create and continuously improve processes related to the origination, disbursement, servicing, and monitoring of long-term loans.
• Develop standard operating procedures (SOPs) and workflows to streamline the operational lifecycle of infrastructure finance projects, including due diligence, loan disbursement, repayments, and portfolio monitoring.
• Monitor key performance indicators (KPIs) related to operational efficiency, turnaround times, and client satisfaction.
5. Team Leadership and Collaboration
• Lead and manage the operations team to ensure effective performance, development, and collaboration across functions.
• Work closely with other senior leaders, including the Chief Financial Officer (CFO), Chief Risk Officer (CRO), and other departmental heads, to align operational activities with the overall business strategy.
• Provide training and mentorship to build an agile and highly competent operations team capable of supporting DBM’s long-term objectives.
6. Stakeholder Management
• Build and maintain relationships with key external partners, including other financial institutions, technology vendors, regulatory bodies, and service providers.
• Negotiate and manage SLAs with third-party providers to ensure operational reliability, cost-effectiveness, and alignment with DBM's strategic goals.

Qualifications

• Bachelor’s degree in Business Administration, Finance, or a related field is required.
• A Master's degree or relevant professional certification (e.g., PMP, CAMS) is preferred.

Experience:

• Minimum of 15 years of experience in banking operations, with at least 5 years in a senior operational role exposed to long-term lending or project finance.
• Experience in a consulting role or corporate banking environment related to operational setup and management is highly desirable.
• Experience in setting up and managing banking systems for long-term loan processing, with a demonstrated understanding of core banking technologies such as Finastra, Finacle, Temenos, or similar platforms.

Technical Skills:

• Strong understanding of the processes and systems involved in long-term lending, including origination, disbursement, servicing, and monitoring of loans.
• Familiarity with the regulatory environment in the Maldives or other similar jurisdictions, particularly related to infrastructure financing and long-term lending.

Leadership Skills:

• Ability to work independently in setting up operational structures from the ground up, including the ability to make critical decisions about internal versus external service provision.
• Strong leadership and team management skills, with the ability to mentor and develop a high-performing operations team.
• Excellent problem-solving skills and a proactive approach to managing operational challenges.

Salary: An attractive executive remuneration package and benefits package negotiable based on experience and qualifications.

Contract Duration: 1 year starting from the commencement date. Renewable based on performance.

Working Hours: 8:30am - 5:00pm weekdays

Work Location: Development Bank of Maldives, 2^nd Floor Allied Building, Male’, Maldives

Documents Required:

• CV
• National ID Card Copy
• Educational Documents
• Reference Letters

Deadline to Submit: 8^th December 2024 before 17:00 hrs

The application should be submitted via email to: [email protected]

Note: Only shortlisted candidates will be contacted for interview.