Head of Risk & Compliance Job in Nairobi – Kenya Mortgage Refinance Company (KMRC)

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:

Head of Risk & Compliance

Location: Nairobi

Position: 1

Job Ref: HR 3/1/2020

Purpose of the Job: The position is responsible for ensuring risk containment with respect to all aspects of KMRC’s operations.

Duties and Responsibilities

The duties and responsibilities are as follows:

I. Managerial Roles and Responsibilities:

a) In charge of implementing the Company’s Risk Management Policy Framework as periodically revised and approved by the Board of Directors while ensuring that the Company’s key risks of credit, market, operational are identified, assessed, measured, controlled and managed prudently;

b) Co-ordinate and oversee implementation of the Company’s Risk Management Policy Framework;

c) Ensure adherence to set thresholds in the grant of credit; lending programs and treasury operations with all excess approved/ratified by the Board;

d) Ensure all teams working within the company are embedding and actively enforcing risk management, monitoring and resolution tools and reporting as required;

e) Formulate new policy guidelines to manage credit, market and operational risks in line with emergent Best Practices

f) Convene and lead periodic meetings to discuss the Company’s risk profile with Management and Staff;

g) Monitor compliance to both internal policies external regulatory requirements, and highlight problem areas, together with required remedial actions;

h) Prepare and present the Company’s risk profile to the Credit & Risk Committee of the Board (as and when required) highlighting key risks facing the company and recommending appropriate mitigating measures;

i) Ensure that the regulatory regime is not only complied with but is also reported on in a timely and accurate manner;

j) Develop work plan and budgets for the department for approval;

k) Oversee the execution of departmental work plan and budgets;

l) Oversee performance management of staff in the department;

m) Identify training needs for the departmental staff;

n) Mentor and coach staff within the department;

o) Identify procurement needs of the department; and

p) Prepare and submit all monthly, quarterly and annual reports.

II. Operational Roles and Responsibilities

a) Ensure correct identification and mitigation of risks through the correct application of risk identification, assessment and evaluation and mitigation tools;

b) Monitor and report the Company’s Compliance Program and ensure adherence to the Company’s policies and overall governance requirements across the entire spectrum of KMRC’s activities;

c) Prepare and monitor the management of annual budgets for the department;

d) Develop and ensure implementation of a risk and compliance framework on the Company’s overall risk management strategies and annual work plans;

e) Report to the Board and Management in a timely manner on any risk related threats and advice on risk mitigation plans of identified risks;

f) Create risk awareness to management and staff on risks relevant to their departments and at individual level to enhance understanding of their accountability for their departments’ risks;

g) Provide support, education and training to staff to build risk awareness within the Company;

h) Assist in preparation of risk reports for stakeholders;

i) Assist in developing policy, procedure and systems for the departments, including documentation where necessary, revise operations, accounting, procurement, HR and IT manuals in order to ensure they cover all possible risks at the KMRC; and

j) Ensure appropriate controls and procedures are established in the key departments of the organization;

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:

  • Successful planning budgeting, utilization and reporting on financial resources assigned to the department
  • Effective and optimal organization of assets and resources assigned to the department
  • Effective leadership, supervision and management of manpower resources assigned to the department
  • Maximisation of productivity in the department through process-oriented improvements
  • Continuous process improvement of services offered by the department
  • Continuous monitoring of SLAs, Governance policies, Risk and Compliance policies implemented in the department
  • Successful implementation of the department’s strategic goals and key strategic areas
  • Documented risk management processes and updated policy and standards
  • Risk and compliance reports
  • Collection and compilation of risk evidence
  • Verification and testing for accuracy of transactions
  • Risk control and management initiatives
  • Defined risk management strategies
  • Risk and Compliance Plan
  • Defined Risks Parameters
  • Established Risk Mitigation plans

Department: Risk & Compliance

Position Reports to: CEO

Position Supervises

  • Compliance Officer

*Required Master: Business Administration/Finance//Economics/Other

* Required Degree: Business Administration/Finance//Economics/Commerce/Other

Required Skills

Knowledge and Skills Required:

The jobholder must possess:

  • Master’s Degree Qualification in Economics, Finance, Business Administration, or related fields
  • Bachelor’s degree qualifications in Economics, Commerce, Finance, or related field
  • A minimum of ten (10) years of related work experience, five of which should include extensive executive management experience preferably on risk management
  • Professional qualifications such as CPA K/ACCA
  • Professional Membership with ICPAK/ACCA or any other relevant professional membership
  • Ability to understand and document workflows and business processes
  • Must have demonstrated ability to handle departmental budgets, resources, processes, projects and relationships
  • Should have thorough knowledge of the banking and financial sector as well as knowledge of regulatory requirements affecting the sector
  • Must be capable of functioning effectively both as a team player and a team leader;
  • Must demonstrate high level 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

Accounting and Finance, Audit and Quality Assurance, Business Administration, Economics and Statistics
Updated: February 17, 2020 — 7:20 am