Head, Monetary Operations at Resource Associates Limited

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.
In line with its vision to be a World-Class Modern Central Bank reflected in its People, Systems and Processes, the Bank is looking to identify visionary, strategic thinking, experienced and highly qualified leaders with excellent credentials, proven experience, demonstrated capacity and know-how who will play a pivotal role in influencing monetary policy frameworks and strategies as well as implement sound monetary policies that ensure financial markets stability and growth. The ideal candidates are expected to be exceptional leaders with deep global and local knowledge of the financial services sector, have a demonstrable level of success and possess excellent interpersonal skills. This is a great opportunity for prospective candidates to make their contribution and positively impact the financial services landscape in Kenya.

The Head of Monetary Operations will report to Director, Financial Markets and is principally responsible for setting the overall Monetary Operations strategy for implementation of Monetary Policy Committee’s recommendations (MPC). The role holder is expected to engage at the highest level of the Bank and Bank organs and will provide leadership to the Monetary Operations team in implementing monetary policy decisions. The role holder will be part of the Financial Markets Departmental Management team and they will work on: developing financial markets, managing foreign exchange reserves and performing the agency role of domestic debt management on behalf of the National Treasury.

Key Responsibilities:

1. Set overall Monetary Operations strategy for implementation of MPC recommendations;
2. Ensure that the interbank settlement systems support financial liquidity as well as adequate liquidity in the banking system;
3. Responsible for Market analysis and performance reporting;
4. Provide leadership for timely periodic reporting of monetary policy analysis with emphasis on monetary policy formulation and implementation;
5. Review forecast analysis, present and make recommendations to the Monetary Policy Management Committee;
6. Engage with IMF, World Bank and other multilateral partners as required;
7. Represent the Central Bank on Monetary policy reviews;
8. Ensure effective collaboration with relevant departments on the effectiveness of monetary policy implementation and market dynamics that inform policy change.

Required Qualifications & Experience:

1. Bachelor’s Degree in Accounting, Business, Finance, Economics, Banking or a similar field.
2. Master’s Degree & Professional qualification in a relevant field is an added advantage.
3. Thorough and in depth understanding of Financial Markets, Banking and relevant emerging issues in:

National, regional and international regulatory and statutory requirements;

Treasury Management.

1. Clear understanding of Financial and Monetary policy trends, Banking and relevant emerging issues such as:
2. Government bonds, bills and other instruments;
   1. Interest rates and pricing;
   2. Financial Markets emerging issues;
   3. Treasury management;
   4. Money & Capital markets;
   5. Derivatives.
3. Must be a Kenya citizen.
4. Should be a member of relevant professional bodies with good standing.

The ideal role holder must possess not less than seven (7) years’ experience in Financial Analysis, Investments, Portfolio Management, Banking and any other relevant area; two of which should be in a managerial capacity; not less than two (2) years’ experience leading and driving Treasury Management (in a reputable bank), Investments and Fund Management or any other related field.

The ideal role holder should have experience in managing a specialised technical team. Work experience in Monetary Policy Development and Analysis institutions or multi-layered think-tanks as well as high level networking at national, regional and global levels provides a competitive advantage. Kenyan citizens working and living in the diaspora are encouraged to apply.