World Vision (WV) is a Christian relief, development, and advocacy organization dedicated to working with children, families and communities to overcome poverty and injustice. One important component of World Vision's work is microfinance, providing financial services such as credit, savings and insurance to the poor, enabling them to earn increased income, build assets and provide for their families. Numerous studies confirm the strong impact of microfinance on the well-being of children. Studies also show, however, that the integration of microfinance with other development activities can have an even greater impact when compared to either microfinance alone or development activities alone. WV's microfinance operations are managed through VFI and its 6,000 staff, a WV subsidiary. VisionFund International (VFI) manages a network of 36 microfinance institutions (MFIs) globally and has outstanding loans of approximately $500 million to some 900,000 clients and annual network revenues of over $138 million. The MFIs were created to provide financial services in the areas where WV works.
Insurance against a range of perils, such as natural disasters or illness, particularly for agricultural clients is seen as an increasingly important component of preventing families from slipping back into poverty. This role is initially to implement a 24 month grant funded review of the microinsurance needs in Tanzania. It is hoped that this initiative will lead to the case for and development of effective insurance products for those who need them most. The role reports to the CEO of VisionFund Tanzania and has a functional line to the Global Insurance Director. As such it has the potential grow in to a full regional role leading on microinsurance for VisionFund in the region. This is a role that could take a recent post graduate student with the right aptitude and desire to grow into the role or an experienced microfinance professional looking to move into microinsurance.
This will be a 2 year contract starting 1st July 2014. Pilot scheme to develop insurance for farmers which if successful has the potential to be rolled out across the region.
KEY RESPONSIBILITIES:
- Project/Program Management - Delivery of Grant Funded Outputs/Grant Compliance/Grant Reporting:
- Undertaking research and analysis of current insurance market in Tanzania.
- Undertaking research and analysis of historical weather data in Tanzania.
- Client mapping of the local MFI from which should stem a set of recommendations on the type of insurance that would best serve client's needs.
Microinsurance Product Development - Effective Product Design & Delivery: - Designing and developing insurance products.
- Working in conjunction with existing local partners.
- Developing new local connections.
- Identifying and assessing pros and cons of possible products.
- Planning of implementation of insurance products.
Integration of Microinsurance with VFI Operations - Effective Operational Integration: - Working with key VFI operational and regional employees.
- Partnering with MFI staff at branches and on client visits.
- Integration with day to day MFI activities.
- Required:
- Post graduate level education in Microfinance with some emphasis on microinsurance or equivalent experience/knowledge gained in a work situation.
- Trained in project/program management or experienced manager with a proven track record.
- Highly numerate, proficient in the use of spreadsheet models and with strong report writing skills.
- Good inter-personal and cross cultural skills.
- Effective in written and verbal communication in English.
- Membership of an insurance based professional body would be an advantage.
- Experience of microinsurance products in both development and operation.
- Experience of the implementation of new microfinance products.
- Experience of dealing with microfinance clients.
- Track record of successful project implementations.
- Track record of donor-funded project implementation.
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