Central Bank Enterprise Risk Management 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, Enterprise Risk Management

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:

Job Title: Director, Enterprise Risk Management

Ref:  PKF/HR/003

Division: Operations and Management

Department: Enterprise Risk Management

Department Purpose Statement: The Enterprise Risk Management department determines the strategic, operation risk appetite across the bank in conjunction with the various department heads. It establishes frameworks and policies for managing risks and is responsible for monitoring and implementing risk mitigation strategies.

Role of the Department Manager

• Establishes frameworks and policies for managing risks and is responsible for monitoring and implementing risk mitigation strategies.
• Ensures the department meets its functional responsibilities and makes these contributions effectively and efficiently.
• Assists the Governor and Deputy Governors 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:

• Enterprise Risk Management Head
• Business Continuity, Ethics and Compliance Head
• Professional Support Staff

Is accountable for delivering the following activities:

• Periodically determine and quantify the strategic and operational risk appetite across the Bank in conjunction with the various department heads;
• Establish the integrated risk management strategy for the Bank;
• Establish the risk management frameworks and policies for the Bank;
• Plan and design an overall risk management process and policies for the organisation;
• Lead risk assessment activities which involves analysing risks as well as identifying, describing and estimating the risks affecting the business;
• Oversee the classification of various risk categories (strategic, operational, financial and reputational);
• Leads risk evaluation, which involves comparing estimated risks with criteria established by the Bank such as operational costs, legal compliance requirements and environmental factors;
• Reviews risk reports compiled for a variety of audiences such as Board of Directors, Management executives as well as shareholders;
• Develop and oversee implementation of common processes, practises, tools and metrics to improve risk exposure and mitigate risks;
• Serve as the custodian of the organisation wide risk register and ensure regular reporting, tracking and mitigation is in place;
• Liaises with the AML Task force under Financial Systems Supervision and ensures resolution of major AML issues
• Develop and oversee implementation of consistent integrated metrics and Management Information System reports for key risk indicators;
• Co-ordinate Business continuity programs and compliance, alongside the Business Continuity Ethics and Compliance Head and Enterprise Risk Management Head, to limit risks and be prepared in the event of crises;
• Keep abreast with regional integration initiatives and advises on risk management impacts and mitigations required as appropriate
• Supervise the process of performing risk audits in the Bank;
• Ensure the development of staff training programs that build risk awareness;
• Recommend and implement initiatives that build a culture of risk orientation within the Central Bank 

Qualifications, Knowledge and Skills
 

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

• Master’s degree in Business , Enterprise Risk Management, Finance, Business Administration, or Economics, or Strategic Management or related field
• Membership to a professional body for Risk Management
• Professional certification in Risk Management, such as Financial Risk Management (FRM) by the Global Association of Risk Professionals (GARP).
• Minimum level of personal and professional experience required to perform effectively in the role
• Not less than ten (10) years’ experience in risk management practices and process implementation, three (3) of which should be in Management position 

Working Relationships

Internal Relationships:
 

The Department Head, Enterprise Risk Management will be:

• Accountable to the Deputy Governor (Operations and Management)
• Directly responsible for the Business Continuity, Ethics and Compliance Head, Enterprise Risk Management Head and Professional Support Staff.
• Directly responsible for the Secretarial Support and indirectly for other staff within own department
• Required to liaise and work closely with the Governor and other Department Managers and Unit Managers as may be necessary

External Relationships:

• Bankers Associations
• Regional Central Banks networks

Competencies
 

Technical Skills

• Foreign exchanges reserves risk management
• Governance Risks
• Market place risks (economic environment, technological developments, regulatory requirements etc.) Operational risks
• Financial risks (and credit and fraud risks)
• Anti-Money laundering reviews
• Financial analysis
• Asset securitization
• Compliance reviews
• Business continuity
• Business process analysis
• Basel II Standards & core principles IA Standards (IIA, ISACA)
• ITIL
• Risk assessment techniques
• Risk response strategies
• Risk management policies
• Scenario planning and sensitivity analysis
• Trend analysis on risk variables
• Risk mitigation strategies and indicators
• Impact assessments
• Financial accounting

Functional Skills

• Banking laws and regulations
• Central Banking Operations
• Commercial Banking Operations
• Financial sector Operations
• Regional Integration Initiatives
• Strategic Planning
• Ability to drive change
• 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
• Cost benefit analysis
• 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 mannerand to be accountable for decision making within departmental and role allocation and advise departments on major financial implications 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 a 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 withstanding 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.