1. Role Details
Job Title: Director, Financial Markets
Location: Nairobi, Kenya
Employment Type: Full time
Department: Financial Markets
Responsible for: Financial Markets Team
Reports to: Chief Executive Officer
Our client, a large leading financial institution in Kenya wishes to recruit a highly experienced, competent, motivated and self-driven individual with excellent credentials and strategic mind to competitively fill the above position.
Our client is looking to identify an experienced leader who will play a pivotal role at the Institution’s Financial Markets function. He/She is expected to be an exceptional leader with superior knowledge of the financial services sector in Kenya, have a demonstrable level of success and possess excellent interpersonal skills.
2. Job Purpose
Financial Markets Department (FMD) implements monetary policy decisions, manages the country’s foreign exchange reserves and acts as a fiscal agent in Domestic debt management.
Specifically, FMD’s mandate, is to implement monetary policy decisions as directed by the relevant authority, develop financial markets, manage foreign exchange reserves and perform the agency role of domestic debt management on behalf of the National Treasury. The department also facilitates payment of external obligations on behalf of Government.
The job holder provides leadership and expertise to a team in the execution of these mandates and being a member of the senior management team, is expected to work closely with Heads of other business functions and the Executive to define forward looking best practice strategic initiatives for the department.
3. Key Responsibilities
- Provide effective leadership in the implementation of monetary policy decisions; government domestic debt management as well as foreign exchange and foreign reserves management;
- Develop financial markets strategies and operational plans
- Ensure close markets monitoring and analysis both at local regional and global levels
- Analyze and mitigate against potential market risks and volatilities;
- Ensure domestic debt management processes and policies are in place;
- Ensure short term interest rates are consistent with the monetary policy stance;
- Ensure that the interbank settlement systems supports financial liquidity;
- Ensure adequate liquidity in the banking system;
- Effectively manage monetary operations so that monetary policy targets are achieved;
- Ensures stable market determined exchange rates;
- Manage foreign exchange reserves in a disciplined and effective manner;
- Ensure compliance to statutory requirements on foreign exchange reserves;
- Facilitate effective forex interventions and crisis management;
- Lead and facilitate in the development of deepened financial markets that enhance confidence in the financial system including diversification of financial market instruments;
- Champion and monitor the departmental risk management framework and policies in liaison with the risk management team;
- Provide oversight over the development of annual budgets;
- Develop, train, coach, motivate and evaluate staff in the department to achieve highest levels of performance.
4. Minimum Requirements
1. Must have a Master’s Degree in Economics, Finance, Banking or relevant field;
2. Bachelor’s Degree in Accounting, Business, Finance, Economics or Banking or similar field;
3. Professional qualification in relevant a field of study e.g. CFA, ACCA, CPA is an added advantage;
4. In depth technical knowledge and experience of financial and capital markets, banking and relevant emerging issues in:
– National, regional and international regulatory and statutory requirements
– Foreign exchange management and operations
– Foreign reserves management and operations
– Government borrowing and debt management strategies
– Treasury management
1. Not less than ten (10) years’ experience in financial analysis, investment, portfolio management, banking and any other relevant area; five (5) of which MUST be at senior leadership (head or deputy level) role of a key function in a large organization.
2. International working experience in financial markets institutions or multi-layered think-tanks;
3. High level networking at national, regional and global levels;
4. Experience in managing a professional team of senior financial and market analysts;
5. Demonstrated capacity in strategic and analytical thinking and sound policy judgement in areas of financial and capital markets and debt issues.
1. Financial Markets emerging issues;
2. National, regional and international statutory trading requirements;
3. Foreign exchange management and operations;
4. Foreign reserves management and operations;
5. Treasury management;
6. Market intelligence & analysis;
7. Domestic debt and debt strategies;
8. Investor awareness;
9. Pricing and evaluation;
10. Portfolio management;
11. Investment policies;
12. Strategic Planning;
13. Budgeting and budgetary controls;
14. Ability to drive change;
15. Project Management;
Behavioral / General Competencies
i) Leadership and people management including performance management, coaching & mentoring;
ii) High level interpersonal and cross-cultural skills, including ability to build consensus, alliances and collaborative relationships with sensitivity to diversity;
iii) Must be visionary, with in-depth knowledge of the state of financial development in Kenya, within the wider global economy, and the linkages within different economic sectors as well as across regions;
iv) Critical & analytical thinking and problem solving skills- ability to understand issues from multiple perspectives/layers and take account of the wider business context when crafting solutions;
v) Commitment to consistent delivery of the highest quality outputs, with deep technical understanding and attention to detail;
vi) Organisational and administrative skills;
vii) Strong outreach competencies with ability to confidently speak at international fora on financial issues.
viii) Excellent public relations skills with all potential users of the institution’s knowledge work and statistics – analysts, academics, professional bodies and other international organizations, and government agencies;
ix) Familiarity with the work of other multilateral and bilateral development institutions and the private sector, especially their roles in supporting financial reform agenda;
x) Ability to think strategically and design long-term plans and programs to develop staff competences in line with strategic priorities;
xi) Ability to consider emerging trends, developments and long-term opportunities and align organisational requirements with desired outcomes;
xii) Oral and written communication skills- ability to communicate clearly, simply and in a structured manner; and to use communication tools appropriately and effectively;
xiii) Ability to listen and communicate effectively with oversight bodies, senior management and government officials;
xiv) Risk management- ability to identify departmental and market risks and develop mitigating measures.
5. Compensation Package
Base Salary: Competitive & Attractive
Benefits: As per the institution’s policy
1. Should be a member of relevant professional bodies with good standing.
2. Must be compliant with the requirements of Chapter Six of the Constitution on Leadership and Integrity.
In addition, all successful candidates will be required to obtain clearance from the following Institutions:
- Higher Education Loans Board
- Kenya Revenue Authority
- Ethics and Anti Corruption Commission
- Credit Reference Bureau
- The Directorate of Criminal Investigations
How to Apply
If you are the candidate that we are looking for please send your application through email@example.com with the position applied for (Director, Research or Director, Financial Markets) as the email subject no later than 15th April 2019.
We will require your complete professional profile with your current remuneration and contact details therein.
Only shortlisted candidates will be contacted.
These positions are open only to Kenyan Citizens.