Financial Analyst at Nairobi International Financial Centre

Job Purpose

• This is an entry-level grade for degree holders. A financial analyst at this level works under the supervision and guidance of a senior analyst and may be deployed in any of the following seven (7) departments: Capital Markets, Green Finance & Carbon Markets, Fintech, Insurance & Banking, Private Equity & Venture Capital, Stakeholder Engagement and Services, Certification; or Monitoring & Quality Assurance.

 Job Description

• The following are the respective duties and responsibilities for a financial analyst across the various departments:

Capital Markets Department

• Support the development and implementation of policies that attract potential NIFC firms to invest in capital markets;
• Create and maintain a database of investors, issuers, and market participants to list, trade, and invest in the local capital markets;
• Create and maintain a database of targeted foreign regulators to engage with in order to promote the listing of foreign securities on the Nairobi Securities Exchange;
• Support the potential NIFC firms looking to list in Kenya on regulatory requirements, market entry, and raising of capital;
• Participate in the forums of regulators and policymakers aimed at the development of frameworks that promote growth and innovation in the capital markets; and
• Conduct market research to increase the amount of data available to the public, informing them about trends, growth, and opportunities.

Green Finance & Carbon Markets Department

• Support the development and implementation of a framework that will attract green finance firms within the NIFC;
• Support the alignment of the NIFC framework to globally accepted sustainability standards;
• Support the designing of mechanisms for green financing and building of a carbon credit exchange within the NIFC;
• Create and maintain a database of relevant stakeholders to engage with in order to build a central marketplace for carbon credits to securitize carbon credits into digital tokens;
• Create and maintain a database of sustainable projects in Kenya, with a clear view of sustainability ambitions and funding gaps;
• Research and draft incentives to support specific climate-related or environmental projects;
• Maintain a database of contacts of relevant regulators;
• Draft documentation for collaboration with other regulators to establish a framework that will encourage local and international investors and financiers to finance green and sustainable projects;
• Create and maintain a database that matches green investors with potential local projects;
• Support the development of a green taxonomy in Kenya, setting out projects that qualify as green to prevent greenwashing in the NIFC; and
• Write and compile reports that set out policy recommendations, market development, and industry standards.

Fintech, Insurance & Banking Department

• Research and draft incentives to attract fintech, insurance, and banking firms to the NIFC;
• Support the implementation of frameworks that encourage innovation within the fintech, insurance, and banking sectors;
• Provide operational assistance to the Innovation Hub by gathering and organizing resources for start-ups seeking regulatory guidance;
• Support collaboration with local partners to gather insights and data that promote innovation in the fintech, insurance, and banking sectors;
• Conduct research to identify potential funding opportunities for fintech, insurance, and banking innovators;
• Support monitoring of NIFC’s regulatory frameworks to ensure alignment with international trends;
• Contribute to initiatives that enhance cooperation within the fintech, insurance, and banking sectors;
• Support the development of tools and resources that facilitate collaboration and partnerships for scaling firms;
• Research and document best practices for cross-border banking operations to support seamless implementation;
• Support initiatives that promote sustainable banking and insurance solutions aligned with ESG standards; and
• Support evaluation and implementation of risk management strategies to mitigate financial risks.

Private Equity & Venture Capital Department

• Support in the formulation and implementation of the framework for defending existing and growing new investment into the NIFC;
• Support the development of the controlled environment for private equities and venture capitals to test products and reduce time-to-market while potentially lowering costs;
• Research and draft proposals of tax incentives that may be designed to encourage investments into the NIFC;
• Contribute to the development of frameworks for the identification of NIFC-qualified activities;
• Support the development of a framework for NIFC firms to offer cross-border investment services in regional markets; and
• Create and maintain a database of regional and global Private Equity and Venture Capital funds to facilitate access to capital for NIFC start-ups.

Stakeholder Engagement & Services

• Support the development of attractive programs for existing and emerging expat talent with knowledge in these areas;
• Create and maintain a database for all the service providers;
• Support the development of strategies that facilitate skills matching between service providers and local start-ups;
• Support the development of a framework for the engagement of service providers;
• Research and propose incentives that attract specialized professional services providers for financial services;
• Support the development of strategies and initiatives for capacity building of skills to improve the quality of human capital; and
• Provide support to professional service firms through legal and regulatory guidance to investors, financial service firms, and start-ups.

Certification Department

• Development and regular review of the guidelines for certification;
• Review the application based on the guidelines and the prescribed criteria for certification;
• Participate in the strategic fit examination of firms seeking certification;
• Participate in the due diligence and screening of firms seeking certification;
• Contribute by making recommendations for the certification of an applicant;
• Create and maintain a database of applications for certification and certified firms;
• Prepare NIFC certificates for issuance;
• Invoice application fees, certification fees, and renewal fees; and
• Review and recommend renewal of certification for NIFC firms.

Monitoring & Quality Assurance Department

• Collect data on the compliance of NIFC-certified firms;
• Ensure that data is accurate and up-to-date, and report findings;
• Support enforcement activities and ensure that all enforcement actions are properly documented and monitored;
• Support collaboration with financial sector regulators to track compliance. Gather and compile data for internal and external reporting;
• Provide administrative support in preparing recommendations for the suspension or withdrawal of certifications and ensure all required documentation is in place;
• Implementation and monitoring of the quality management system. Ensure that quality initiatives are properly tracked and reported;
• Support the enterprise risk management process by helping to identify risks and document mitigation strategies;
• Maintain accurate records of the performance of management systems. Support senior team members in analyzing system performance and identifying areas for improvement;
• Provide administrative support for process re-engineering initiatives. Ensure that project timelines are met and that progress is documented; and
• Support administrative tasks related to tax incentives for certified firms. Help in coordinating meetings with stakeholders and compiling data for reports.

Person Specifications

For appointment to this grade, an officer must have:

• Bachelor's degree in finance, economics, accounting, banking, business, law, actuarial science, mathematics, political science, statistics, or a related field, or any other relevant qualification from a recognized institution;
• Professional qualifications in finance, economics, banking, accounting, business, law, actuarial science, statistics, mathematics, political science where applicable;
• Proficiency certificate in computer applications; and
• Fulfilled the requirements of Chapter Six (6) of the Constitution of Kenya.

Key Competencies and Skills

• Technical financial analysis;
•  Attention to detail;
• Financial reporting and compliance understanding;
• Interpersonal and communication skills;
• Report writing skills;
• Presentation skills; and
• Team player.