Research Director Job in Nairobi – Central Bank of Kenya (CBK)

Job Title: Director, Research

Location: Nairobi, Kenya

Employment Type: Full time

Department: Research Department

Responsible for: Research Team

Reports to: Governor of the Central Bank of Kenya

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 Research function.

The ideal candidate are expected to be 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 holder will provide leadership to the Research team in developing monetary policy frameworks and strategies, facilitate domestic and global macroeconomic analysis and
research to inform monetary policy formulation and implementation.

S/he shall provide economic advice to the Institution Management and Government.

The Director Research will work closely with the Monetary Policy Committee (MPC).

Key Responsibilities

1. Frame and implement appropriate economic research agenda for the Bank at country, regional and global levels. In this regard provide leadership to undertake and disseminate research and related analysis on micro and macro-economics;

2. Ensure formulation of a prudent monetary policy, frameworks and strategies that set feasible and appropriate targets to achieve and maintain price stability including exchange rates, interest rates and inflation and support monetary policy implementation. This includes designing the monetary programs;

3. Provide leadership for the promotion of robust economic analysis (both fiscal and external), including development of the statistical capacities and systems for the provision of timely and reliable data for policy dialogue and formulation;

4. Provide effective and efficient technical and secretariat support to the Monetary Policy Committee and Monetary Policy Management Committee;

5. Ensure effective coordination, strengthening of the existing analytical tools and development of appropriate economic policy analysis frameworks, instruments / tools and models;

6. Ensure timely preparation, publication, submission and dissemination of economic and financial reports to the relevant bodies such as Parliament, the National Treasury and the general public;

7. Provide leadership for timely periodic reporting of financial, and economic analysis with emphasis on monetary policy formulation and implementation;

8. Ensure effective collaboration with relevant departments on the effectiveness of monetary policy implementation and market dynamics that inform policy change;

9. Prepare and process major statements, speeches and briefs for the Governor for high level meetings, conferences and missions;

10. Liaise with IMF, World Bank and other development partners as required on matters of monetary policy;

11. As assigned, represent the bank in international and regional fora and provide the leadership required to safeguard and strengthen stakeholder’s confidence in the Bank’s operations;

12. Development and maintenance of economic and financial data base;

13. Participate in the development of policies and innovative approaches to position the organization as a learning/knowledge sharing organization;

14. Liaise with Communications division on appropriate communication, branding and dissemination strategies for publications;

15. Keep abreast and support in leading regional monetary union integration discussions and feasibility assessments;

16. Champion and monitor the departmental risk management framework and policies in liaison with the Risk Management Division;

17. Develop, coach, mentor, motivate and evaluate staff in the department to achieve highest levels of performance.

Minimum Requirements

Basic Education

1. Must have a Master’s Degree in Economics or related fields,

2. Bachelor’s degree in Economics, Finance, Banking, Statistics or other related field;

3. PhD in Economics or other related field is an added advantage.

4. Clear understanding of economics, banking and relevant emerging issues in:

– Monetary and financial statistics and trends
– Inflation and currency rates
– Financial markets
– Economic policy
– Reporting of financial data
– Financial and economics research


1. Not less than ten (10) years’ experience in economics, financial analysis, banking or closely related field, five (5) of which must be in a senior leadership role in a busy research-based organization with a bias in economic research and analysis;

2. Experience in managing a professional team of senior researchers;

3. International working experience in Economic Policy Development and Analysis institutions or multi-layered think-tanks;

4. A strong record of research in the area of economics and statistical systems development with well-defined policy implications;

5. High level networking at national, regional and global levels;

6. Demonstrated understanding of the challenges facing African Economies.

Technical Competencies

1. Monetary policy formulation and implementation

2. Macro-economic analysis

3. Micro-economics analysis

4. Fiscal and external analysis

5. Economic data analysis

6. Advanced research

7. Quantitative analysis

8. Statistical analysis

9. Econometrics

10. Foreign exchange reserves risk management

11. Market place risks

12. Trade finance and trade policy issues

13. Financial markets instruments

14. Regional economic integration

15. Stakeholder Management

16. Report writing -ability to develop economic reports

17. Communications and Presentation skills

Behavioural / 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 a visionary, with in-depth knowledge of the state of economic, financial and social 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 economic issues.

viii) Excellent public relations skills with all potential users of Bank 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 economic 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 risks and develop mitigating measures.

Citizenship: Must be a Kenyan Citizen

Compensation Package

  • Base Salary: Competitive & Attractive
  • Benefits: As per the institution’s policy.

Application Process

If you are the candidate that we are looking for please send your application through 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.

Economics and Statistics
Updated: January 5, 2021 — 8:56 pm