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CO-OPERATIVE BANK OF TANZANIA (CBT)
VACANCIES – BOARD OF DIRECTORS
The Cooperative Bank of Tanzania (CBT) was registered on 26th May 2024 after the amalgamation of Kilimanjaro Co-operative Bank Limited (KCBL) and Tandahimba Co-operative Bank Limited (TCBL), alongside new share investments from Cooperative Societies, Private institutions, and Individuals. The Bank has been licensed by the Bank of Tanzania (BOT) and will commence its operations in October 2024.
Recommended:
The CBT Board of Directors invites applications from suitably qualified candidates to fill four (4) vacant positions representing Minority Shareholders and Independent Board Directors. The names of the shortlisted candidates will be presented at the 1st General Meeting for election on Thursday, 17th October 2024.
Knowledge and Education Background
In line with Section 5(2) of the Banking and Financial Institutions Act (Corporate Governance) Regulations 2021, candidates for the Board of Directors positions should have expertise and knowledge in the following fields:
- Academia: Banking, Finance, Accounting, Auditing, Law, or Economics.
Skills and Expertise
Considering the ongoing developments in technology and the growth of digital banking, the following skills are required:
- Data Science
- Cyber Security
- Credit Law
- Accounting
- Information Technology
- Insurance
- Microfinance Banking
- Cooperative Management
- Strategic Communication
- Investment and Capital Ventures
Role of the Board of Directors
- Determine the Bank’s vision, mission, and values to ensure continuity and legal existence of the Bank.
- Continuously monitor and evaluate the Bank’s strategy to achieve the vision and mission and ensure the Bank’s survival and growth.
- Govern the Bank through broad policies and objectives agreed upon with the Managing Director, ensuring:
- Protection of the Bank’s assets and reputation.
- Compliance with all relevant laws, regulations, and codes of best practices.
- Adequate technology and systems to efficiently run the Bank and compete effectively.
- Monitor risk identification and its management to enhance long-term shareholder value.
- Appoint the Managing Director and Senior Management, delegating the responsibility of managing the Bank to them and reviewing their performance regularly.
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Mode of Application
- The applicant should be a member of the Cooperative Bank of Tanzania (CBT).
- The application must include an application letter, curriculum vitae, certified copies of academic and professional certificates, two passport-size photos, certified copies of the last page of their passports, letters of recommendation from three (3) references, and a declaration of indebtedness to banks.
- Applications should be sent via email to: cbt-boardapplications@kcblbank.co.tz.
- Notification of application receipt and other details will be sent to all applicants upon receipt. Successful candidates will serve for three (3) renewable terms.
Deadline for submission of applications: Wednesday, 2nd October 2024, at 4:00 p.m.
Contact:
The Secretary
Cooperative Bank of Tanzania Headquarters
P.O. Box 201, Dodoma
Tel: +255-27-2754470
