1. Deposit & Liability Growth
Annual deposit growth (to be defined)
Monthly and quarterly liability growth targets achieved at ≥100%
Net deposit growth (new deposits less withdrawals) tracked monthly
2. Funding Mix & Quality
Growth in low-cost deposits (Savings & Current Accounts – CASA) to meet or exceed target ratios
Reduction in over-reliance on high-cost or volatile funding sources
Average cost of funds maintained within approved thresholds
3. Customer Acquisition & Retention
Number of new customers onboarded periodically (monthly, quarterly and annually)
Number of new funded accounts acquired monthly and quarterly
Growth in active deposit accounts (funded and transacting)
Retention rate of key institutions, corporates, SME, and high-value individual depositors
4. Strategic Partnerships & Institutional Deposits
Number of new institutional, corporate, association, or cooperative partnerships secured
Value of deposits generated from partnerships and structured funding relationships
Pipeline development and conversion rate of prospective depositors
5. Team Leadership & Execution
Performance of the deposit mobilisation team against assigned targets
Coaching, mentoring, and productivity improvement of direct reports
Staff attrition within the team kept within acceptable limits
6. Market Expansion & Visibility
Penetration into new markets, communities, or customer segments (to be defined)
Execution of approved campaigns and community activation initiatives
Brand visibility outcomes linked to deposit growth
7. Reporting, Compliance & Governance
Timely and accurate submission of weekly, monthly, and quarterly performance reports
Zero material regulatory breaches relating to deposit mobilisation
Full compliance with CBN guidelines, AML/CFT, and internal risk controls
Requirements
Bachelor’s degree in Business Administration, Marketing, Finance, Economics, or a related field
Minimum of 7–10 years’ experience in business development, deposit mobilisation and relationship management within a digital Microfinance Bank or Financial Institution
Proven track record of growing deposits and managing liability portfolios
Strong understanding of retail, SME, and institutional banking products
Excellent relationship management, negotiation, and closing skills
Strong analytical and reporting capabilities
Good knowledge of CBN regulations relating to deposits and microfinance operations
Excellent communication, leadership, and people-management skills
Ability to work independently and thrive in a target-driven environment
Customer-centric mindset with strong commercial awareness
MCIB qualification is essential, commitment to attain the certification within 12 months if not yet qualified.
Skills Required
- Bachelor's degree in Business Administration, Marketing, Finance, Economics, or related field
- 7-10 years' experience in business development, deposit mobilisation and relationship management within a digital Microfinance Bank or Financial Institution
- Proven track record of growing deposits and managing liability portfolios
- Strong understanding of retail, SME, and institutional banking products
- Excellent relationship management, negotiation, and closing skills
- Strong analytical and reporting capabilities
- Good knowledge of CBN regulations relating to deposits and microfinance operations
- Excellent communication, leadership, and people-management skills
- Ability to work independently and thrive in a target-driven environment
- Customer-centric mindset with strong commercial awareness
- MCIB qualification is essential; commitment to attain within 12 months if not yet qualified
What We Do
Source Microfinance Bank is a Lagos-based Nigerian microfinance institution focused on reinventing banking through innovation and technology. It provides customer-centric financial services to individuals, low- and medium-income earners, micro businesses, and other businesses, including accounts, loans, and digital banking channels. Its mission is to improve access to credit and personalized financial products while empowering customers and communities through accessible, technology-enabled banking.
