TERMS OF REFERENCE (ToR)
Deputy Chief Executive Officer (Deputy CEO)
Midnimo Microfinance Institution Company (MMIC)
- Preamble/Introduction
Midnimo MFI is a dedicated microfinance institution committed to providing sustainable financial services to underserved populations, particularly low-income individuals, SMEs, and women entrepreneurs. Established in 2020, our mission is to foster economic empowerment, improve livelihoods, and contribute to the socio-economic development of the communities we serve. For further information, please visit our website at https://mmic.so.
This Terms of Reference outlines the responsibilities, qualifications, and reporting relationships of the Deputy Chief Executive Officer (Deputy CEO), who will support the CEO and the Board of Directors in providing strategic leadership, operational management, and international representation of the institution.
- Position Title
Deputy Chief Executive Officer (Deputy CEO)
- Reporting Relationship
The Deputy CEO reports directly to the Chief Executive Officer (CEO) and collaborates with the Board of Directors.
- Duty Station
Nairobi, Kenya (with the possibility of transfer to Somalia in the future).
- Start Date
ASAP
- Duration of Appointment
1 year, renewable based on performance.
- Purpose of the Position
The Deputy CEO will play a critical role in the leadership, management, and growth of MMIC. He/she will be responsible for ensuring institutional performance, building strong relationships with donors and international partners, securing funding, and supporting the CEO in driving MMIC’s mission and vision. The Deputy CEO will also act as a key representative of MMIC in global and regional forums and will oversee major operational functions of the institution.
- Key Responsibilities and Duties
- Strategic Leadership & Vision
Develop and articulate MMIC’s strategic vision, mission, and long-term goals in collaboration with the CEO and Board of Directors.
Formulate and implement comprehensive strategic and operational plans to achieve institutional objectives, ensuring alignment with MMIC’s social mission and financial sustainability.
Monitor and analyze industry trends, market conditions, and regulatory changes to identify opportunities and threats, and adapt strategies accordingly.
Drive innovation and digital transformation within the institution to enhance efficiency and client outreach.
- Operational Management & Performance
Oversee core operational areas including lending, savings, treasury, risk management, human resources, finance, and administration.
Establish and monitor key performance indicators (KPIs) to track financial, social, and operational performance.
Ensure efficient and effective allocation of resources to achieve targets.
Strengthen institutional systems, internal controls, policies, and procedures to improve compliance, transparency, and risk mitigation.
Ensure compliance with all relevant laws, regulations, and industry best practices.
- Financial Management & Sustainability
Support the development and management of the institution’s annual budget, ensuring prudent financial management.
Oversee financial planning, forecasting, and reporting to ensure financial sustainability.
Lead and coordinate fundraising efforts, donor engagement, and resource mobilization strategies.
Build and maintain strong relationships with investors, donors, and international partners.
Ensure strong portfolio quality and loan recovery processes.
- Human Resources & Organizational Development
Build and mentor a high-performing executive team and foster a positive organizational culture.
Oversee recruitment, training, performance management, and staff retention strategies.
Promote staff engagement, professional development, and succession planning.
Ensure a fair, equitable, and safe working environment for all employees.
- Risk Management & Compliance
Establish and champion a strong risk management framework across all operations.
Ensure adherence to all regulatory requirements, internal policies, and ethical standards.
Oversee anti-money laundering (AML) and combating financing of terrorism (CFT) compliance.
Report significant risks and mitigation strategies to the CEO and the Board.
- Stakeholder Relations, Donor Engagement & Representation
Act as a key spokesperson and ambassador for MMIC with external stakeholders, donors, and international partners.
Build strong partnerships with governments, regulators, financial institutions, and development partners.
Strengthen relationships with donors and international agencies to secure funding and support.
Represent MMIC in global, regional, and local forums, conferences, and meetings.
Lead advocacy efforts to promote a supportive regulatory and investment environment for microfinance.
- Governance & Board Relations
Serve as a key advisor to the CEO and Board of Directors, providing timely and accurate information for decision-making.
Collaborate with the Board in setting strategic priorities and ensuring effective governance.
Support the implementation of Board decisions, directives, and institutional policies.
Provide regular reports to the CEO and Board on institutional performance, risks, and opportunities.
- Required Qualifications and Experience
Education:
PhD in Business Administration, Finance, Economics, Development Studies, or a related field from a reputable institution.
Master’s degree in the same fields is acceptable with extensive experience.
Professional Experience:
Minimum of 10–15 years of progressive leadership and management experience, with at least 5–7 years in a senior management role within a microfinance institution, commercial bank, or financial institution serving low-income populations.
Proven track record of successfully leading and growing financial institutions in challenging or emerging markets.
Demonstrated experience in strategic planning, financial management, risk management, and human resource management.
Experience in product development, market expansion, and digital transformation in financial services.
Familiarity with the socio-economic context of Somalia and East Africa is an added advantage.
Technical Skills:
Strong financial acumen and analytical skills.
Excellent understanding of microfinance principles, methodologies, and best practices.
Proficiency in financial modeling, budgeting, and forecasting.
Solid understanding of regulatory frameworks governing financial institutions.
Strong knowledge of risk management principles and practices.
Proficiency in relevant software and financial management systems.
Leadership & Managerial Competencies:
Exceptional leadership and people management skills.
Strong strategic thinking and problem-solving abilities.
Excellent communication, presentation, and interpersonal skills.
High level of integrity, ethical conduct, and professionalism.
Ability to manage multiple priorities under pressure.
Culturally sensitive and adaptable.
- Desired Attributes
Passionate about poverty alleviation and financial inclusion.
Entrepreneurial mindset with a drive for innovation and growth.
Resilience and adaptability in dynamic environments.
Strong networking and partnership-building abilities.
Commitment to good governance and transparency.
- Performance Evaluation
The Deputy CEO’s performance will be evaluated annually by the CEO and the Board of Directors based on agreed-upon objectives aligned with the MFI’s strategic plan and annual operating targets.
- Application Process
Interested and qualified candidates are invited to submit their application, including a detailed CV and a cover letter outlining their suitability for the position, to: info@mmic.so
Application Deadline: 18 September 2025
Only shortlisted candidates will be contacted.
- Equal Opportunity Employer
MMIC is an equal opportunity employer and values diversity. We encourage applications from all qualified individuals regardless of race, color, religion, gender, sexual orientation, age, disability, or marital status.
