Central Bank Payment Systems 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, Payment Systems

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, Payment Systems

Ref: PKF/HR/004 

Division: Policy and Regulation

Department: Payment Systems

Department Purpose Statement: The Payment Systems department ensures an efficient, reliable and secure payment system that supports the smooth functioning of the economy. 

The department is also responsible for ensuring that the National Payment Systems meet market requirements and respond effectively and on time, to technological changes.

Role of the Department Head

• Formulate and implement payment strategies and policies that promote the establishment, regulation and supervision of efficient and effective payment, clearing and settlements systems as provided for in the CBK Act.
• Develop payment strategies and policies for Board approval in line with the CBK’s strategy and national priorities
• 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 Jobs (Key Result Areas)

• The job holder is responsible for the supervision of the following:

1. Payment Systems Oversight Unit
2. Payment Systems Operations Unit
3. Payment Systems Policy Development
4. Payments Systems Adviser

• Provide effective leadership and ensuring national payment systems are efficient, reliable and secure.
• Ensure that the national payment systems and instruments comply with the relevant legislation such as CBK Act and National Payment Systems Act
• Develop on-going payment strategies and policies for Board approval in line with CBK`s strategy and national priorities for wholesale and large value payments
• Develop payment strategies and policies for Board approval in line with CBK`s strategy and national priorities for retail payment systems
• Ensure effective management and oversight of systematically important payment systems.
• Ensure continued availability of efficient, reliable and secure payment systems that support the smooth functioning of the economy: Ensure Payment systems’ infrastructure operates under oversight and meets international standards.
• Develop and implement policies to ensure national Payments Systems meet market requirements and respond to technological change:
• Participate in and support the “National Payment Council”.
• Ensure the operation of efficient payments services for banks and the broader financial system.
• Ensure the operation of and manage the National Single Window project.
• Operate and manage the National Switch project
• Keep abreast with payment trends including mobile banking processes and platforms and link this to improved payment policy and banking requirements
• Keep abreast with payment risks including cyber risks and other risks and ensure an adequate payment risk management framework is in place
• Participate in formulation of cross border initiatives aimed at regulatory coordination and cooperation
• Participate in stakeholder committees and meetings

Qualifications, Knowledge and Skills

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

• Master’s degree in Economics, Finance , Management, Business Administration, Law or in any relevant field
• Training and certification from reputable international organisation on payment systems policy and oversight
• Extensive experience in banking operations including policy papers for decision making bodies
• Experience in monitoring banking systems
• Not less than ten years’ experience related to the Kenyan financial systems and payments environment; three of which should be in a managerial capacity
• In depth knowledge of payment systems compliance requirements including the BIS Core principles
• In depth knowledge of the work and the industry on issues related to payment systems and instruments such as:

1. Large value payment systems
2. Payment Systems
3. Payment innovation
4. Payment security

Working Relationships

Internal working relationships:

The Department Head will be:

• Accountable to the Deputy Governor (Policy and Regulation)
• Directly responsible for Payments System Oversight Head, Payments System Operations Head, Payment Systems Policy Development Head and Payments Systems Adviser.
• Directly responsible for the Administrative 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 stakeholders:

• Commercial banks, 
• Other central banks,
• Government regulatory agencies, 
• Kenya Bankers Association amongst others 

Competencies

Technical Skills

• Knowledge of payment systems policy formulation
• Wholesale payments operations
• Payments landscape
• Payment security standards
• Payment instrument (card, cheque, EFT) clearing process
• Commercial bank operations
• Government operations in relation to payment systems
• ACH
• Cross border payments
• Mobile banking processes
• Currency management
• Macro-surveillance
• Security and cyber risks exposure to payment systems
• Risk Assessment frameworks
• Financial analysis
• System performance monitoring and oversight
• AML, KYC and other laws affecting financial infrastructure
• Regional economic and payment systems trends

Functional skills

• Sound knowledge and experience in the operating frameworks for CBK including:

1. Monetary policy framework implementation methods
2. Central banking operations
3. Financial institution operations
4. Regional banking and economic trends

• Budgeting and planning –experience and ability to define the departmental wide budgets and to advise on budgeting implications for strategy realisation
• Risk Management-experience in identifying departmental risks, developing mitigating measures and monitoring mechanisms
• Governance – knowledge and ability to ensure good governance practices in assigned Department and ensure strategy for payments incorporates good governance processes.
• Analytical –highly analytical and ability to challenge status quo based on quantitative facts and impacts
• Ability to coordinate Business Continuity
• Project Management of various payment projects
• Regional trends
• Financial inclusion
• Ability to induce and drive change
• Report writing-ability to develop strategic reports
• In depth knowledge of payment systems compliance requirements including the BIS Core principles

Behavioural

• 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 external stakeholders on major payments strategic 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 reputational risk
• Building consensus and influencing-ability to influence various players in the financial sector and across all CBK departments
• Communication skills
• 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.