Principal Bank Resolution Officer at Kenya Deposit Insurance Corporation

Duties and responsibilities will entail:

• Facilitating the take-over of all assets, liabilities, and businesses of distressed banks and financial institutions as the sole and exclusive receiver/appointed liquidator.
• Implementing agreed action plans for timely collection of debts and disposal of assets for the benefit of depositors and creditors of banks in receivership and financial institutions under liquidation.
• Implementing agreed activities to preserve the assets of banks placed in receivership and minimize financial loss.
• Coordinating and conducting financial crisis simulation exercises and preparing progress reports on the adequacy of the financial crisis framework.
• Maintaining custody of ownership documents of all assets and records of banks in receivership, financial institutions under liquidation, and wound-up financial institutions to ensure safety and facilitate timely realization for the benefit of depositors and creditors.
• Compiling and consolidating investment proposals to ensure timely investment of funds for banks in receivership and institutions under liquidation in compliance with developed policies, guidelines, and procedures to preserve the value of the banks and increase the payout to depositors and creditors.
• Undertaking approved activities in support of the selected optimal resolution option that minimizes financial loss to the Deposit Insurance Fund.
• Implementing approved policies, guidelines, procedures, and frameworks for disposal of subsidiaries and other assets of banks and financial institutions under resolution and wound-up institutions.
• Implementing approved policies, guidelines, procedures, and frameworks to manage residual assets of wound-up institutions for the benefit of the Deposit Insurance Fund.
• Coordinating business process re-engineering activities leveraging on technology to enhance service delivery to depositors and creditors.
• Maintaining the core banking and other operating systems for assigned banks in receivership for data confidentiality, integrity, and availability.
• Developing winding up checklists and coordinating the winding-up process of identified financial institutions in line with approved policies, guidelines, procedures, and frameworks.
• Carrying out identified Alternative Dispute Resolution activities to enhance loan collections, minimize running costs, and ensure effective and efficient receivership process and fast-track liquidation process for the benefit of depositors and creditors of banks in receivership and institutions under liquidation.
• Ensuring compliance with developed performance management systems to monitor, evaluate, report, and reward performance in line with agreed performance targets and service standards of the Corporation.
• Implementing and undertaking the review of the approved risk management policy to ensure the unit has a robust system and processes of accountability, enterprise risk management, and business continuity.
• Reviewing submitted documents to facilitate the execution, discharge, and release of securities for fully settled debts for banks in receivership, institutions under liquidation, and wound-up institutions.
• Generating proposals for payments of protected deposits and additional payments to depositors/creditors and ensuring timely processing.
• Ensuring compliance with developed financial, accounting policies, relevant laws, and regulations for timely reporting for assigned banks in receivership and institutions under liquidation.
• Reviewing proposals for disposal of assets of fully wound-up institutions.
• Facilitating the process of collection of witness statements for key court matters for banks in receivership and institutions under liquidation to facilitate recoveries for the benefit of depositors, creditors, and the Corporation.
• Ensuring compliance with developed financial, accounting policies, relevant laws, and regulations for timely reporting for assigned banks in receivership, institutions in liquidation, and wound-up institutions.
• Implementing and ensuring compliance with the approved framework of engagement and evaluation of service providers in furtherance of the directorate’s objective of increasing debt recovery rate for banks in receivership and institutions under liquidation.
• Providing information required to evaluate progress in implementation of Board resolutions and audit recommendations for the unit.
• Supervising and facilitating training and development of direct reports staff to ensure an efficient and motivated team.
• Appraising the direct reports.
• Generating and compiling information and data required for presentation to relevant financial sector committees articulating the Corporation’s mandates of receivership, liquidation, and winding up.
• Reviewing revenue, expenditure, assets, and liabilities reports of the assigned banks in receivership and institutions in liquidation to enhance their liquidity, value preservation, and ensure their sustainability.
• Coordinating activities to support in the management of assets of fully wound-up institutions for the benefit of the Corporation.
• Coordinating provision of information for identified research areas relating to relating to banks receivership, liquidation, and winding up processes.
• Implementing and facilitating review of identified commitments in the citizen service delivery charter to enhance accountability and transparency in service delivery to stakeholders.
• Resolving public complaints and coordinating processing of requests for access to information to enhance public confidence in relation to the receivership, liquidation, and winding up processes.
• Providing information to facilitate preparation and review of the unit’s annual work plan and annual performance contract in line with the directorate’s objectives.
• Ensuring compliance with Quality Management Systems and other ISO Standards for process improvement and enhanced service delivery in the directorate.
• Responsible for the collection of loans and other debts for assigned banks in receivership, institutions in liquidation, and wound-up institutions.
• Transferring surplus funds for wound-up institutions to the Deposit Insurance Fund.

Requirements for Appointment:

• At least eight (8) years’ work experience in financial reporting or analysis, risk management, forensic or fraud investigation, actuarial analysis, financial reporting.
• Bachelor’s Degree in Commerce, Banking, Finance, Economics, Business Administration, or an equivalent qualification.
• Master’s degree in Commerce, Banking, Finance, Economics, Business Administration, or an equivalent qualification (added advantage).
• Professional qualification in Commerce, Banking, Finance, Economics, Business Administration, or an equivalent from a recognized Professional body.
• Membership to a relevant professional body.
• Supervisory course from a recognized institution (added advantage).
• Fulfilling the requirements of Chapter Six of the Constitution of Kenya 2010.