Management Service Contract for Microfinance Organization Credo/ now Credo Bank

2014-10-31 - 2017-11-30

AccessHolding acquired Credo in late 2014, with the intent of providing technical assistance to the organization to prepare it for, and guide it during, a transformation to a commercial bank. This includes reviewing the institution and proposing and implement changes where needed, to strengthen its policies, controls, and procedures, transform it into a bank and strengthen its position as the leading rural and agricultural finance provider in Georgia.
LFS is the Technical Partner in charge of managing Credo. Specifically with a view on transformation, LFS is responsible for Product and solutions development for rural and agricultural small businesses and smallholders/ famers. Review of and recommendations on the organization’s HR function in terms of recruitment and promotion, HR software, and performance appraisals, salaries, Review of and recommendations on the organization’s credit function, in terms of career paths for Loan Officers, loan approval levels, product simplification, product reporting, targets and bonuses for credit staff, Review of the organization’s Audit function, in terms of processes, authority levels, and current efficiency and quality of internal controls and risk management in the institution,  Review of the organization’s IT function in terms of disaster recovery, business continuity, operating risk and scalability The accounting function and treasury of the organization, in terms of structure, processes, and procedures