Director of International Expansion
Description
FairMoney is a pioneering mobile banking institution specializing in extending credit to emerging markets. Established in 2017, the company currently operates primarily within Nigeria, and it has secured nearly €50 million in funding from renowned global investors, including Tiger Global, DST, and Flourish Ventures. FairMoney maintains a strong international presence, with offices in several countries, including France, Nigeria, Germany, Latvia, the UK, Türkiye, and India.
In alignment with its vision, FairMoney is actively constructing the foremost mobile banking platform and point-of-sale (POS) solution tailored for emerging markets. The journey began with the introduction of a digital microcredit application exclusively available on Android and iOS devices. Today, FairMoney has significantly expanded its range of services, encompassing a comprehensive suite of financial products, such as current accounts, savings accounts, debit cards, and state-of-the-art POS solutions designed to meet the needs of both merchants and agents.
Position Summary
The Director of International expansion at FairMoney will drive the company’s strategic growth across the African market. This pivotal role involves overseeing market selection, license acquisition, regulatory compliance, partnership development, and team establishment to ensure successful international expansion. As a key leader, you would help us to acquire multiple MFB licenses across Africa in the upcoming months. You are the right person for this role if you have several years of MFB or Banking experience in Africa, worked on multi-country expansion, acquired or applied for licensing in many countries across the continent, and are hungry to make a meaningful impact in the way Africans access and use financial services.
The Director of International expansion is solely responsible for the high-level success of the international expansion. High-level responsibilities include hiring, PnL ownership, budgeting, structuration of all processes on the ground, and regular travel to the target markets.
Roles and Responsibilities
Strategic and Operational Leadership: Take full ownership of the end-to-end strategic and operational facets of FairMoney's international expansion. Lead the charge in identifying new markets and executing entry strategies.
Conduct on-ground due diligence on the countries we are targeting and conduct further research on the feasibility of the expansion in the market.
Market Entry Playbooks: Develop comprehensive market entry playbooks that encompass a strategic roadmap for successful penetration into new markets, ensuring adaptability to diverse business landscapes.
License Acquisition: Acquire the right licenses required to launch FairMoney products in new markets, and maintain strong relationships with regulators
Business Development:
- Lead negotiations and business development activities to establish a strong presence in new markets.
- Identify and evaluate potential business opportunities, mergers, acquisitions, and partnerships to drive growth.
Team Leadership:
- Play a pivotal role in setting up and leading local teams, fostering a collaborative and high-performance culture.
- Ensure that the teams are equipped to execute the expansion plans effectively.
Regulatory Compliance Oversight: Develop and implement strategies to ensure full compliance with local regulations and laws in each target market.
Performance Measurement:
- Define and track key performance indicators (KPIs) to assess the success of expansion initiatives.
- Regularly report on progress, challenges, and opportunities to executive leadership.
Cross-functional Collaboration:
- Collaborate with cross-functional teams, including product development, marketing, and operations, to ensure seamless execution of expansion plans.
- Provide insights and recommendations to improve products and services based on regional market needs.
Requirements
- Experience in banking and credit/lending domain (Credit led neo bank preferred)
- 10+ years of proven experience in a leadership role overseeing international expansion efforts.
- You have studied business administration, economics, or engineering at a top-tier university.
- Entrepreneurial mindset and commitment to get hands dirty at all times.
- Experience in applying/acquiring MFB licenses and navigating complex regulatory landscapes across multiple African countries
- Strong strategic thinking and analytical skills
- Demonstrated success in developing and executing market entry strategies
- Exceptional relationship-building abilities, with a track record of forming successful partnerships
- Experience in building strong relationships with financial services regulators across multiple countries
- Effective team management and leadership skills
- Additional working experience in an expansion manager/head role in a startup is a very strong plus
- In love with FairMoney's mission to enhance access to finance for the underbanked
- Willing to relocate for a longer period to Western Africa or similar markets if necessary to uplift operations on the ground.
Benefits
- Paid Time Off
- Training & Development budget
- Paid company business trips
- Fully Remote, Work from Anywhere (timezone must have partial overlap with CET).
Recruitment process
- A screening interview with one of the members of the Talent Acquisition team for 30 minutes
- Interview with the Head of Investors Relations for 45-60 minutes
- Interview with the CEO - Laurin Hainy for 45-60 minutes
- Interview with the management team - Panel Interview/Presentation Round for 60-90 minutes
- Additional Interview with the Board (case to case basis).