Job Title: Head of External Payments & Reserves Management
Location: Nairobi, Kenya
Employment Type: Full time
Department: Financial Markets
Responsible for: External Payments & Reserves Management team
Reports to: Director, Financial Markets
Our client, The Central Bank of Kenya (CBK), is responsible for formulating monetary policy to achieve and maintain price stability.
The Central Bank also promotes financial stability; an effective and efficient payment, clearing and settlement system; formulates and implements foreign exchange policies; holds and manages foreign exchange reserves; issuing of currency; and is the banker for, adviser to and fiscal agent of the Government.
We are looking for an experienced leader who will play a pivotal role at the Institution’s Financial Markets function.
The ideal candidate is expected to be an exceptional leader with deep global and local knowledge of the financial services sector, have a demonstrable level of success and possess excellent interpersonal skills.
This is a great opportunity to make your contribution to the financial services landscape in Kenya.
Job Purpose: The role of the Financial Markets function 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 role also facilitates payment of external obligations on behalf of the Government of Kenya.
This position supports the Head of Financial Markets function to implement monetary policy decisions, manage the country’s foreign exchange reserves and act as a fiscal agent in Domestic debt management.
The Head of External Payments & Reserves Management will be required to provide leadership and expertise to a team in the execution of the mandates and he/she will be required to work closely with Heads of other business functions and the Executive to define forward looking best practice strategic initiatives for the function.
1. Provide effective leadership to the team and ensure timely and effective implementation of monetary policy decisions.
2. Ensure that there is adequate liquidity in the banking system.
3. Ensure stable, market determined exchange rates.
4. Close market monitoring and analysis at both local and regional levels.
5. Manage foreign reserves for the country by employing effective investment strategies.
6. Develop foreign reserves management strategies and operational plans and associated budgets.
7. Ensure compliance with statutory requirements in foreign exchange reserves management.
8. Analyse and mitigate against potential market risks and volatilities.
9. Facilitate payment of external obligations on behalf of the government ministries, departments and ministries (MDAs).
10. Assist the Head of Financial Markets with on-going and long-term management and development of the Financial Markets operations.
11. Develop, coach and motivate the External Payments & Reserves Management team to achieve the highest levels of performance.
1. Bachelor’s Degree in Accounting, Business, Finance, Economics or Banking or a similar field;
2. Professional qualification in a relevant field of study. Chartered Financial Analyst (CFA) is an added advantage;
3. 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
– Risk Management
– Treasury management
1. Not less than seven (7) years’ experience in financial analysis, investment, portfolio management, banking and any other relevant area; two (2) of which MUST be at senior leadership (Head, Deputy or Manager) role of a key function in a large organization.
2. No less than two (2) years leading and driving treasury management (in a reputable bank), investment and fund management or any other related field
3. International working experience in financial markets institutions or multi-layered thinktanks;
4. High level networking at national, regional and global levels;
5. Experience in managing a professional team of senior financial and market analysts;
6. 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. Treasury management
5. Interest rates and pricing
6. Market analysis
7. Pricing and evaluation
8. Accounting and taxation implications
9. Portfolio management
10. Structural and financial engineering
11. Investment policies
12. Banking laws and regulations
13. Strategic Planning
Behavioural / General Competencies
i) Leadership and people management including performance management, talent 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) 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 and consider 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) Confidence to speak at international fora on financial issues;
viii) Strategic thinking and ability to design long-term plans and programs to develop staff competences in line with strategic priorities;
ix) Ability to consider emerging trends, developments and long-term opportunities and align organisational requirements with desired outcomes;
x) Communicate clearly, simply and in a structured manner; and use of communication tools appropriately and effectively;
xi) Identification of departmental risks, market risks, and develop mitigating actions.
Citizenship: Must be a Kenyan Citizen
- Base Salary: Competitive & Attractive
- Benefits: As per the institution’s policy.
If you are the candidate that we are looking for please send your application through firstname.lastname@example.org with the position applied for (Director, Research) as the email subject no later than 22nd January 2021.
We will require your complete professional profile with your current remuneration and contact details therein.
Only shortlisted candidates will be contacted.