Resource Associates Limited Head, Operational Risk Jobs in Kenya

Resource Associates Limited Head, Operational Risk Jobs in 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.

    Job Purpose

  • The Head of Operational Risk will report to the Director, Financial Markets and their role will be to support the Director, Financial Markets in the effective and proactive management of operational risks at an integrated level within the Department. The role holder will be responsible for Operational Risk Management within the department including design and implementation of appropriate processes and procedures.

    In addition, the role entails;

    • Leading and directing the Operational Risk function to achieve the Department strategic
    goals.

    • Designing, Implementing, and monitoring of operational risk management frameworks and
    processes within the Department

    • Monitor and validate the quality and consistency of operational risk processes across the
    Department

    • Continuously improve the operational risk processes with the intention of adding value to the Department whilst introducing practices that are fit for purpose in line with business strategy
    whilst at the same time mitigating risk.

    • Apprise the Director FMD fully on the operational risk status.

    • Ensure that training and development on Risk Management is offered to staff on a regular
    basis.

    Key Responsibilities

    Operational Risk

    • Identifying and managing risk for each business process in the Financial Markets Department

    • Development of key risk indicators in reserves and debt management

    • Responsible for analysis of key risk drivers; people, process, systems, and external events

    • Maintenance and updating of department operations manual

    • Promote compliance to operational risk policies.

    • Encourage a high level of awareness of operational risk in the business.

    • Provide a central point of reference and expertise in operational risk matters to the
    Department.

    • Assist in the analysis of information and reports to establish trends and consider initiatives to reduce risk.

    • Identify major operational risks affecting the Department and take necessary steps to measure,
    monitor and control accordingly.

    • Participate in the Department’s business processes, initiatives, forums, committee, etc. to
    ensure that operational risk requirements are appropriately considered, executed and reported Information Risk.

    • Ensure pro-active management of information risks.

    • Manage and track information risk control efforts and escalation to Head of FMD where inadequate mitigation is evident.

    • Promote compliance to information risk governance standards and policies.

    • Create risk metrics and reports for Head of FMD at required frequencies.

    Business Resilience

    • BCM Governance – Policy Enforcement and Programme Administration

    • Business Impact Assessment & Risk Assessment

    • Business Continuity Strategy

    • Business Continuity Planning

    • Exercising and Testing

    • Maintenance and Review

    • Training and Awareness

    • Monitors, Promote and maintains an understanding of current/future business continuity trends and threats.

    Risk Governance

    • Ensure full implementation of Risk governance framework, including the administration of Risk
    governance documents (i.e., policies, procedures, mandates) across all risk types – Credit,
    Market and Operational Risk.

    • Implement assurance function cutting across all risk types in conjunction with Operational Risk
    and Operations Control.

    Key performance measures

    • The quality and improvement in Internal Audit and Risk Assurance reports.

    • Improved quality of Operational Risk tools – Incident Reports, RCSAs and KRIs - in risk
    identification.

    • BCM documentation maintained and Integrated BCM/ testing – delivering against BCM Programme of Work.

    • Loss control – effective root cause analysis, escalation process effective, data quality in place and control environment improved through analysis on incidents.

    • Quality of risk assurance support on change initiatives being rolled out

    • Effective root – cause analysis for losses (also, deal with behavioral causes).

    • Completion of high-quality assurance reports in a timely manner

    • Demonstration of existence of framework, tools, and metrics for consolidation of
    risk exposure

    • Reports to stakeholders on risk status on a regular basis.

    • Evidence of risk awareness campaigns, policies, and procedures in place across the Department & escalation of risk issues by front line staff.

    • Timely escalation of Operational Risk Matters /concerns.

    Other Key Responsibilities

    Problem solving

  • The ability to identify and understand the Department needs and strategies and then to
    interpret and convert these into operational risk strategies.

  • The need to identify the long term operational needs to support the Department effort.

  • Handle authority expediently, be orientated towards immediate accomplishments and to be a
    firm decision-maker.

    Planning

  • The ability to meet tight deadlines and to satisfy the Department’s customer service requirements in an environment laced with a wide variety of problems and unexpected challenges.

    Results orientation

  • Delivering Results - Effectively manage your time and resources to ensure that objectives are
    achieved, and projects are delivered on time.

    Enabling Change

  • Encourage others to seek novel and innovative approaches to addressing problems and
    opportunities. Facilitate the implementation and acceptance of change within the workplace.

    Decision making

  • Consider all the facts, options, and possible outcomes prior to making decisions.

  • Quick to act upon potential opportunities and take the initiative within limits of authority

    Minimum Requirements

    Basic Education

  • Bachelor’s Degree in Accounting, Business, Finance, Economics, Banking or a similar field.

  • Professional qualification in a relevant field of study e.g. CPA, ACCA, CFA, CAIA are an
    added advantage.

  • In depth technical knowledge and experience of Financial and Capital Markets, Banking and relevant emerging issues such as:

    • National, regional and international regulatory and statutory requirements;

    • Foreign exchange management and operations;

    • Risk Management;


    • Treasury management.

  • Must be a Kenyan citizen.

  • Should be a member of relevant professional bodies with good standing.

    Experience

  • A minimum of Eight (8) years’ experience in a Risk and Operations role; Five (5) Years’ experience in a Managerial position leading and driving Operational Risk management within a large player in the Financial Services sector.

    Technical Competencies

    • Risk management

    • Pricing and evaluation

    • Accounting and taxation implications

    • Financial markets payments

    • Financial Markets emerging issues

    • National, regional and international statutory trading requirements

    • Foreign exchange management and operations

    • Treasury management

    • Debt management

    • Money markets

    • Market analysis

    • Banking laws and regulations

    • Central Banking Operations

    • Analytical –highly analytical and ability to challenge status quo based on quantitative facts
    and impacts

    • Stakeholder Management

    • Report writing

    • High level of networking

    Behavioural/ General Competencies

  • Leadership and management-ability to lead teams, mentor and coach staff to goal definition and achievement

  • People management skills, including teambuilding, motivation, team goal planning and the ability to use team expertise to full advantage;

  • Decision making; ability to make strategic decisions in a timely and effective manner

  • 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

  • Good verbal and written communication skills;

  • Customer service orientated-striking a solid balance between external and internal customer
    orientation

  • Resilience; ability to withstand strategic and operational challenges and maintain momentum

  • Emotional Intelligence; manages emotions in a mature and composed manner as expected of a leader.

    Citizenship

    • Must be a Kenyan.

    • Should be a member of relevant professional bodies with good standing.

    How to Apply

  • For more information and job application details, see; Resource Associates Limited Head, Operational Risk Jobs in Kenya


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