Job Summary

The Head of Business – Deposits is responsible for driving the savings and deposit mobilization strategy of the institution. This role focuses on growing the deposit base, optimizing savings products, and ensuring liquidity management while maintaining regulatory compliance. The ideal candidate will have strong leadership skills, deep knowledge of retail savings products, and experience in microfinance or retail banking deposit strategies.  

The Head of Business will also ensure the implementation of best business practices, maintain market competitiveness, and align with the organization's goals.

Key Responsibilities:

Deposit Mobilization Strategy  

• Develop and execute strategies to increase retail deposits (savings accounts, fixed deposits, recurring deposits).  
• Identify new customer segments (individuals, SMEs, groups) and tailor deposit products to their needs.  
• Analyze market trends, competitor offerings, and customer behavior to refine deposit products.  
• Drive digital savings adoption (Mobile App, USSD,) to enhance accessibility.  

Product Development & Innovation  

• Design and launch competitive savings products  
• Enhance digital deposit channels (app-based savings, auto-save features, sweep-in/sweep-out FD accounts).  

Sales & Business Development  

• Lead the deposit mobilization team  
• Set and monitor monthly/quarterly deposit targets for the company.
• Develop partnerships with corporates, cooperatives, and community groups for bulk deposits.  
• Implement marketing campaigns (referral programs, promotional interest rates, financial literacy drives).  
• Identify new business opportunities and partnerships to enhance the company’s market position.

Liquidity & Financial Management  

• Ensure optimal liquidity management by balancing deposit growth with assets needs.  
• Monitor cost of funds (CoF) and ensure deposit pricing remains competitive yet sustainable.  

Compliance & Risk Management  

• Ensure compliance with Bank of Ghana regulations on deposit-taking.  
• Implement KYC, AML, and fraud prevention measures for deposit accounts.  
• Monitor early withdrawal risks and design retention strategies for fixed deposits.  

 Customer Experience & Retention  

• Improve onboarding, account management, and customer service for depositors.  
• Develop loyalty programs (bonus interest, cashback) to retain customers.  
• Address customer complaints and feedback to enhance trust in the organization.  

Reporting & Performance Tracking  

• Track key deposit metrics (total deposits, growth rate, average deposit size).  
• Prepare monthly/quarterly reports for senior management and regulators.  
• Use data analytics to identify trends and adjust strategies accordingly.