Central Bank Currency Services Director Job in Kenya

Rewarding Career opportunities in the Central Bank of Kenya … Are you a transformative leader willing to lead change, stretch your capabilities and make a distinctive contribution?

Then come and be part of a team to lead and transform your Central Bank!

Vacancy: Director, Currency Services

The Central Bank of Kenya (“CBK” or “the Bank”) is constitutionally mandated to formulate and implement monetary policy and foster the proper functioning of a stable market-based financial system to support the economic policy of the Government of Kenya. 

To enable the Bank position itself to fulfil its mandate, it is undergoing a transformation to streamline its operations. 

To support the Bank on this transformative journey, the Bank is seeking to recruit open-minded, self-driven, result oriented individuals of high integrity who will play a critical role in supporting the Bank in the achievement of its mandate. 

In pursuit of these objectives, the Bank invites dynamic and innovative candidates to submit their applications for the following position:

Director, Currency Services

Ref: PKF/HR/001
 

Division: Operations and Management

Department: Currency Services

Department Purpose Statement: The Currency Service Department ensures that there is an adequate supply of clean currency in accordance with the public needs and overall national payment systems’ 

Role of the Job

• Develop and implement strategies and policies to ensure effective currency management and circulation in Kenya
• Manage the branch and currency centre network to deliver against the banks strategy
• Ensures the department meets its functional responsibilities and makes these contributions effectively and efficiently.
• Assists the Governor with on-going and long-term management and development of the Bank’s resources and organisational capability;
• Contributes as appropriate to the performance of other functions and to the overall achievement of CBK’s strategic objectives
• Works effectively as part of the senior management team to deliver on the Key Result Areas and demonstrates competencies of his/her role.

Main Responsibilities of the Job (Key Result Areas)

• The job holder is responsible for the following units:

1. Currency Operations and Logistics;
2. Currency Processing;
3. Research and Development
4. Branches and agency arrangements

• Develop the currency management strategies and associated budgets
• Develop the currency management processes and operational plans and policies for approval
• Provide effective leadership and ensuring there is adequate circulation of genuine currency across the country.
• Ensure the quality and range of currency is developed and maintained in circulation including:

1. Research and design on appropriate currency

• Ensure currency in circulation meets public needs and is actively used including:
• Procurement of currency
• Inventory management and distribution
• Processing and quality assurance
• Destruction and disposal of currency
• Currency demonetisation
• Operation of currency centres and other distribution channels

Qualifications, Knowledge and Skills

Minimum level of academic qualification, skills and knowledge required to perform effectively in the role

• Master’s Degree and/or a professional qualification in relevant field study in banking or finance
• Bachelor’s Degree in Accounting, Finance, Economics or Banking or similar field
• Clear understanding of currency and banking and emerging issues in:
• Currency security features
• Substrate development
• Production technology
• Anti-counterfeiting deterrence measures
• Processing technology
• Financial and accounting skills
• Currency planning

Minimum level of personal and professional experience required to perform effectively in the role
Not less than ten (10) years’ experience in Finance, Banking, Currency or any other relevant field; three (3) of which should be in a managerial capacity

Working Relationships
 

The Department Head will be:

• Accountable to the Deputy Governor (Operations and Management)
• Directly responsible for the Currency Management Advisor; Branch Managers; Head, Currency Operations and Logistics; Head, Currency Processing; Branch Managers and Currency Centre Managers
• Directly responsible for the Secretarial Support and indirectly for other staff within own department
• Required to liaise and work closely with the Governor, Deputy Governor, other Department Heads and Unit Managers as may be necessary

External working relationships:

• Required to develop and maintain working relationships with appropriate external parties including Ministry of Finance, other central banks, currency printers and minters, commercial banks, the Kenya Bankers Association, government regulatory agencies, Judiciary, State Law Office, Law Enforcement agencies etc.

Key Performance Indicators

• Will be determined by CBK

Competencies
 

Technical skills

• Currency and banking emerging issues
• Currency security features
• Substrate development
• Currency Production Technology
• Anti-counterfeiting deterrence measures
• Financial and accounting skills

Processing technology

• Currency planning
• Currency security measures
• Currency centre operations
• Currency planning
• Regional currency trends
• Reserves management
• Forecasting cash demand
• Commercial banking operations
• Currency risk management

Functional Skills

• Banking laws and regulations
• Central Banking Operations
• Strategic Planning
• Budgeting and Planning
• Ability to drive change
• Project Management
• Governance – knowledge and ability to ensure good governance practices in assigned Department
• Analytical –highly analytical and ability to challenge status quo based on quantitative facts and impacts
• Stakeholder Management
• Report writing-ability to develop reports

Behavioural Skills

• Leadership and management-ability to lead teams, mentor and coach staff to goal definition and achievement
• Performance Management and team building
• Decision making –ability to make strategic decisions in a timely and effective manner and to be accountable for decision making within departmental and role allocation and advise departments on major and critical decisions required
• Professionalism –maintains a professional approach based on ethics and CBK values
• Integrity and honesty and ethics- ensures ethical practices and integrity and ensures CBK is not put at reputational risk
• Building consensus and influencing-ability to influence various players across all CBK departments
• Communication
• Customer orientation-is customer focused striking a solid balance between external and internal customer orientation
• Resilience –is able to withstand strategic and operational challenges and maintain momentum
• Emotional Intelligence-manages emotions in a mature and composed manner as expected of a leader

How to Apply

If you fit the profiles of these roles and are flexible enough to enjoy the challenge of adapting to the changing needs of an evolving Central Bank as you grow your career, then please submit your application with a detailed CV, stating your current position, remuneration level, e-mail and telephone contacts quoting the job title/reference in the field of interest directly toexecutiverecruitment@ke.pkfea.com by 23rd December, 2014.

PKF will only process applications submitted through the online address given and only shortlisted candidates will be contacted.

Central Bank of Kenya is an Equal Opportunity Employer.