The Kenya Mortgage Refinance Company (KMRC) was established as a key institution to support the Affordable Housing Pillar of the Government’s Big 4 Agenda.
In establishing KMRC, the Government adopted a public private partnership (PPP) arrangement with majority private sector ownership.
KMRC is a newly established non-deposit taking mortgage liquidity company under the supervision of the Central Bank of Kenya with the core mandate of mobilizing and providing long-term funds to primary mortgage lenders (Banks, Microfinance Banks and Saccos) in order to increase the availability and affordability of mortgage loans to Kenyans.
In order to drive our strategy, we seek to recruit suitable candidates in various positions who will support KMRC in attaining its commitment to affordable housing for Kenyans.
We require a suitable candidate to fill the following position:
Job Title: Chief Operations Officer (COO)
Job Ref: HR 1/1/2020
Purpose of the Job: The position will provide leadership in planning, implementation and monitoring of the Company’s business, market and product development; projects and portfolio management; portfolio quality and ensure that all aspects of the business functional areas are fully integrated and effectively managed in order to deliver on the institution’s mandate.
Duties and Responsibilities
The duties and responsibilities are as follows:
I. Managerial Roles and Responsibilities:
a) Formulate and ensure implementation and review of operational policies, systems, processes and procedures;
b) Coordinate credit assessment and scoring of the participating financial institutions borrowing from KMRC and ensuring that the credit assessment and scoring reports are approved by the Board and used to ensure optimal credit management decisions are made;
c) Coordinate preparation of credit proposals for submission to the approving authorities; ensuring that accurate and comprehensive data is contained therein;
d) Ensuring that all funding proposals meet the credit policy requirements, and specified funding criteria;
e) Review project appraisal reports and investment proposals and present for consideration by management and the board of Directors;
f) Ensure effective management of credit management activities;
g) Coordinate development of information sources that allow KMRC to monitor the performance of and trends in and comparisons across KMRC’s borrowers;
h) Undertaking pre-refinancing analysis of potential borrowers to put together the information required to support credible decision-making and notifying the leadership team of negative trends to allow KMRC to make timely credit risk minimisation decisions;
i) Manage portfolio management responsibilities, including conducting field inspections of borrowers to validate information provided, check on and confirm the adequacy of documentation, quality of underwriting processes and collateral management;
j) Coordinate capacity building of the primary mortgage lenders to strengthen mortgage underwriting processes across the industry.
k) Coordinate development and standardization of mortgage practices across the market in order to achieve greater efficiency in the market;
l) Support capacity building of the operations team and oversee the work of direct reports.
m) Lead in the detailed appraisal of equity investments in KMRC by potential investors including by development finance institutions;
n) Liaise with the Risk Management and Compliance team to continuously review facilities granted, to highlight changes in risk profile and undertake remedial or risk mitigation action if required;
o) Oversee detailed project appraisal, in accordance with existing company policies and procedures;
p) Manage all back-office activities including credit, operations and ICT functions;
q) Ensure that Company office activities are carried out in line with KMRC’s mandate and in compliance with all regulatory requirements;
r) Ensure achievement of operating targets, including refinancing value, portfolio quality and investment returns;
s) Ensure compliance with the policy and regulatory framework of the company;
t) Develop and implement robust work processes and procedures to govern key operational activities such as funds transfer, safekeeping, collateral administration, reconciliation and loan processing; and
u) Coordinate the recruitment and selection of consultants including the selection of right partners, overseeing and evaluating the agreed scope and work performed.
II. Operational Roles and Responsibilities
a) Collaborate with direct reports and the executive team to develop a comprehensive strategy and provide the effective and inspiring operating leadership necessary to grow the company’s business;
b) Attain the financial objectives of the business through effective management of people, product, service and facility processes, including a focus on the revenue and profit components;
c) Improve sustainable operational and service systems and infrastructure designed to meet the high standards of excellence and continued growth of the KMRC business;
d) Ensure compliance with all laws, rules, regulations, policies and procedures in the mortgage sector;
e) Continually assess and improve operating systems, day-to-day execution, cost controls, and building regional strength and ensure Portfolio Management and Recovery;
f) Develop an internal system to track all portfolios to determine current position and interventions required;
g) Supervise the classification of portfolios in the respective categories for effective monitoring and management; and
h) Liaise with legal department and identified external agencies, to institute the necessary recovery activities.
III. Perform any other duties as may be assigned from time to time
Key Result Areas:
The jobholder’s accountability areas are outlined as follows:
- Business growth results in terms of new project approvals and disbursements
- Portfolio quality and meet non-performing loan targets
- Quality asset management
- Project delivery timelines
- Customer satisfaction
- New product development and uptake
- Market development and growth
- Team management and performance
- Effective resource utilisation
- Policy development and implementation
- Successful implementation of the Department’s strategic goals and key strategic areas.
Department : Operations Department
Position Reports to : Chief Executive Officer
Position Supervises :
- Credit Manager
- ICT Manager
- Operations Manager
*Required Master: Business Administration/Finance/Commerce/Accounting/Strategic Planning/Project Management/Other
* Required Degree: Business Administration/Finance/Commerce/Accounting/Strategic Planning/Other
The jobholder must possess:
- A Master’s degree in Business Administration, Finance, Commerce, Accounting, Strategic Planning, Project Management or a related field;
- A Bachelor’s degree in Business Administration, Finance, Commerce, Accounting, Strategic Planning or a related field;
- Minimum twelve (12) years’ senior management experience in leading credit operations, large scale real estate, and/or development finance;
- Professional Qualification in banking, finance, investment banking;
- Professional Membership with ICPAK Membership/ACCA or Project Management Professional (PMP)® from Project Management Institute (PMI)®
- Must have demonstrated ability to handle budgets, resources, processes, projects and relationships;
- Should have thorough knowledge of the financial sector as well as knowledge of regulatory requirements affecting the financial sector;
- Must be capable of functioning effectively both as a team player and a team leader;
- Must demonstrate high levels of integrity;
- Must have strategic leadership skills with ability to build strategic relationships;
- Should have experience in change management and the ability to drive change in a team;
- Should have high level problem solving and decision-making abilities;
- Should be an effective communicator with the ability to handle high level communication;
- Should be result oriented with ability to deliver desired outcome;
- Should demonstrate ability to identify and respond to risk areas within the department;
- Should have effective people management and conflict resolution skills;
- Must have knowledge in use of MS office packages.
How to Apply:
CLICK HERE to apply online
Applications should be received on or before close of business on 28th February, 2020.
KMRC is an equal opportunity employer and qualified applicants from all backgrounds are encouraged to apply.
KMRC Website: https://kmrc.co.ke/careers