Career Opportunities in Microfinance

Career Opportunities In Microfinance
Microfinance Jobs
Advice Feb 4, 2022 0

Do jobs in microfinance have a future? What do these professions offer?

Although the Microfinance Industry has a lot to offer, you might wonder, “.. but what opportunities does it bring me? Do I fit in?”

MicrofinanceJobs.net is here to answer your questions.

To start things with, yes you do fit in. The Microfinance Industry is an adaptable one. Its growth is impressive. We certainly wouldn’t want you to miss out on the amazing opportunities that await you in this sector.

So, what exactly could the fields of work be?

Business Development

Developing the business of a microfinance company or institution plays a major role in this industry. From marketing, strategizing, to business decisions, there is a huge requirement of key players in business development that can help the microfinance companies grow, and sustain their operations in the long run.

If this is your area of interest, you can choose to work in the nonprofit world or even in finance development/ insurance companies associated with microfinance. Interested? Let us know.

Retail Banking

Banks are one of the two pillars that constitute microfinance. The microfinance business of the bank can be broadly classified under two heads: Wholesale & Retail. As Axis Bank tells us, “In Wholesale Microfinance, the Bank offers credit facilities to MFIs for further on-lending to their customers. Under Retail Microfinance, the bank offers a suite of products to individuals/Self Help Groups catering to their various entrepreneurial needs.

The MFIs have already proven in the past that the poor households are bankable and small ticket loans to such clients can be extended in a profitable manner.”

As the aforementioned reflects, specific divisions devised for running microfinance automatically create a lot of career opportunities in banking. If you feel inclined to move forward, we urge you to go ahead!

Sales

What is the biggest indicator of success in an organisation? Revenue. Who are the primary people to achieve that? Sales professionals.

The pattern is clear. And so is the need for competent people working in sales. As you bring in more loan borrowers with increasing loan portfolios, the overall size of a MFI also increases. Therefore the companies are looking for capable people interested in sales and revenue generation who can take their operations to the next level.

Are you up for the challenge? We know you are. Begin your journey with MicrofinanceJobs.net today!

Product Design

Another opportunity in Microfinance is in the field of product design and launch. The Microfinance Industry is known to be inclusive; reaching the poor sections of the society. But, “to be successful in reaching the poor, microfinance institutions should offer products that meet the poor’s needs,” as per research. To create and design financial products that are tailored to meet the needs of each individual, microfinance institutions need competent professionals. This demands a great deal of people to work in product design; thereby inviting you to participate and cultivate your career path.

Are you interested yet? Let us know!

Accounting and Finance

Just like any other business, microfinance institutions (MFIs) need accounting and finance divisions to survive. Not only that, they need knowledgeable and insightful professionals who can help the leaders run their institutions and create a profitable business model. Remember, Accounting and Finance help MFIs stand on their feet. The businesses need sound accounting principles to make sound decisions. If you know the basics of accounting, and feel inclined to work with microfinance institutions, do not hesitate to take the first step.

To simplify your job search, you can always visit our website and submit your resume here: https://www.microfinancejobs.net/candidate-dashboard/?profile_tab=resume

Risk Management Analysis and Consultation

No business industry is born without risk. Same is the case with microfinance. With a simple google search, Heflo would tell you, “Risk management analysis comprises a series of measures that should be employed to prevent the occurrence or to allow an elimination of risks. Risk management analysis is nothing more than a set of specific and defined processes to do everything so that the highlighted risks do not occur.”

Understandable enough right? Well, the basics don’t change as much as the knowledge of Microfinance. There are a lot of requirements for job seekers who are capable of identifying and assessing the risks that come with microfinance, especially with the specific MFI they’re working with. If you think you’re capable of evaluating and eliminating risk, while managing the portfolio of several microfinance borrowers, this field is appropriately suited for you.

Do not think twice, join the microfinance industry and learn more about its jobs on our website!

Fundraising for Microfinance

In Microfinance Institutions, there are additional jobs in fundraising as well. As per Wikipedia, “Fundraising or fund-raising is the process of seeking and gathering voluntary financial contributions by engaging individuals, businesses, charitable foundations, or governmental agencies.”

For MFIs, fundraising is a significant way to obtain money for their operations. To quote an extract from the Journal of Developmental Entrepreneurship, “To date, funding of MFI activities has come primarily from outright donor grants, government subsidies, and often debt capital, including debt with non-market terms favorable to the MFI. These traditional sources of MFI financing may not be sufficient to allow MFIs to provide maximum services.”

Accordingly, MFIs are looking for more fundraising opportunities (and fundraisers) to reach their maximum potential.

The time to join the microfinance industry in this field could not be better! Browse for more information on microfinance jobs on our website!

Information Technology (IT)

Technology Development is a big challenge for many organizations. And MFIs are no different. As technology advances, the overall functioning of an institution gets easier. With MFIs, better technology makes it possible for borrowers to better access their loan process; including loan application, documentation, and transfer of funds.

As is the case, there is an increase in jobs for Tech Developers. As an IT graduate, you will handle similar responsibilities to that of a software engineer, app developer, systems programmer etc. Fulfilling one of the greatest needs of the microfinance industry shall lie in your hands.

Want to embark on this exciting journey? Stay connected with MicrofinanceJobs.net!

Customer Service/Quality

Next, we have the world of customer care waiting for you. Remember, for MFIs, customer services retain the power to lead them to unwavering success. They are extremely important. Especially for market-led MFIs, the department of customer care is sincerely established in order to move forward. From retaining customers, to working efficiently with them — are indications of excellent customer services.

This so clearly creates huge opportunities for people looking for jobs in customer service. Good customer knowledge and expertise in relationship management will take you far in this industry.

If you think you have what it takes to become a part of this thriving field of work, we invite you to shoot your chance and find yourself in a sea of opportunities! MicrofinanceJobs.net is here to assist you in every way possible. Any questions? Reach out to us!

Data Analytics

Last on our list, but certainly not the least— we have the potential of Data Science and Data Analysis waiting for you. With better insights into their customers through Analytics, microfinance institutions are able to customize and personalize services as per their customers’ specific requirements. This helps the companies maintain a longer and stronger relationship with their customers. While any company would benefit from this, a detailed analysis of data can help MFIs learn more about future opportunities in credit and help decipher possible scenarios.

This allows them to minimize cost and increase growth; creating additional jobs for professionals in the field of Data Analytics.

If you feel worried about your chances of meeting an employer in the area of your interest, do not fret. MicrofinanceJobs.net offers full-time jobs, part-time jobs, consulting opportunities, internships and volunteering opportunities through its premier job portal.

Meet the organization that feels right for you, and start your journey in Microfinance, right now! We’re excited to have you.

Join us to browse jobs right here!

Did we miss anything? Let us know in the comments below!

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