Kopo Kopo (derived from kobboh kobboh, the Krio word for money), owe their name to a pilot project done in Sierra Leone by their founders. From their learning, they were inspired to create a world-class platform to enable small and medium businesses to accept mobile payments and build relationships with their customers.
Kopo Kopo launched its software platform in 2012, where they partnered with Safaricom to bring the ‘’Lipa na M-PESA Buy Goods” service to small and medium businesses throughout Kenya. Today, they have over 32,000 merchants registered on the platform, from salons to restaurants to office supply stores to schools, amongst others. They have since partnered with other aggregator and mobile money partners with the ultimate goal of helping businesses leverage mobile payments. Dedicated to re-focusing the market on SMEs, Kopo Kopo offer market-appropriate solutions to enable and incentivize businesses to go digital. They partner with financial institutions, mobile operators and major retailers who are interested in marketing new payment services to small and medium enterprises.
The company, though young, is profitable and there is an ongoing fundraising project to scale up operations. Current investors include Bamboo Finance, Khosla Impact, Accion Venture Lab and Javelin Venture Partners.
Kopo Kopo’s management team is now complete, except for one critical role – a Risk Manager. The purpose of this role will be to assist in the development and deployment of Risk Management Tools & Reporting across the organization. In addition, the incumbent will assist in Kopo Kopo’s wide enhancement and review of all Risk Policies in order to ensure that these reflect the best practice to protect, secure and regulate the extent of risk over the assets of the company.
The nature of Kopo Kopo’ business/activities exposes it to a myriad of risks, specifically Cash Control, EDP, System development and ICT processes, Credit and Credit processing, Interest Rate (fee) and Pricing Sensitivity, Liquidity and Funding mismatch, Operational processes and processing, Cross Border exposure, amongst others. This underscores the critical importance of the overall Risk Management function. The function’s independence in overview and definition/deployment of control mechanisms cannot be over- emphasized. The policy prescriptions and procedures as prescribed by this function govern the booking and management of risk in the various areas of the business.
The jobholder needs to have good understanding and experience in the development and management of risk management policies and practices in a trading and operating environment, and be capable of professional discussions with external stakeholders as well as internal contacts. Some experience in a professional or regulatory capacity in financial services may be an advantage.
The Risk Manager will report to the CEO and the Board, and should be able to write cogent reports for senior management consumption and provide assistance to the board in its oversight role.
1. Assist in the development, refinement and implementation of the Risk Management framework for the business, aligning it to the strategy and future needs, and in line with the market best practices.
2. Develop a clear understanding of Kopo Kopo Inc.’s risk management systems architecture and market trends in this space in order to suggest and assist in implementing enhancements with a view to maximizing benefits in portfolio analytics/ monitoring and reporting.
3. Assist in the development and review of the organization’s Risk Policy, including;
• Creation of procedures and guidelines,
• Revision and on-going enhancement,
• Refinement in risk measurement methodologies,
• Delegation of lending authorities in a digitized lending environment,
• Risk Strategy Formulation.
Education: University degree and/or professional certificate in Statistics or Commerce are essential. Post-graduate qualification in Accounting/Auditing would be an advantage.
1) Minimum 5 years of experience in a Risk Management role, 2 of which should be at a relatively senior appointment. It would be preferable if the individual has served in a busy and operational financial services outfit, with exposure to credit and credit management processes.
2) A fairly good understanding of EDP/ICT systems is also preferable. Any Systems audit training would be an advantage.
1) Good understanding of Risk Management principles.
2) Strong written & oral communication/presentational skills.
3) Good time-management skills.