Principal Financial Analyst at Nairobi International Financial Centre

 Job Specifications

• This is a promotional grade, with the holder working under the supervision of the Deputy Director. A principal analyst 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 duties and responsibilities for a principal analyst across the various departments:

Capital Markets Department

• Develop and implement policies that attract potential NIFC firms to invest in capital markets;
• Collaborate with foreign regulators to promote the listing of foreign securities on the Nairobi Securities Exchange to enhance cross-border markets;
• Support potential NIFC firms looking to list in Kenya on regulatory requirements, market entry, and raising of capital;
• Collaborate with regulators and policymakers to promote growth and innovation in the capital markets; and
• Review market trend analysis to recommend policies and decisions that enhance growth and opportunities within the NIFC.

Green Finance & Banking Department

• Develop and implement a framework that will attract green finance firms within the NIFC;
• Align the NIFC framework to globally accepted sustainability standards;
• Design the mechanism for green financing and building of a carbon credit exchange within the NIFC;
• Coordinate collaboration with relevant stakeholders in building a central marketplace for carbon credits to securitize carbon credits into digital tokens;
• Coordinate the development of a central marketplace for carbon credits to securitize carbon credits into digital tokens;
• Review incentives to support specific climate-related or environmental projects;
• Participate in regulators’ forums aimed at establishing mandatory sustainability reporting practices;
• Review 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;
• Spearhead the development of platforms to connect green investors with potential local projects;
• Collaborate with public and private sector institutions to develop a green taxonomy in Kenya, setting out projects that qualify as green to prevent greenwashing in the NIFC; and
• Review reports that set out policy recommendations, market development, and industry standards.

Fintech, Insurance & Banking Department

• Coordinate the development of infrastructure and incentives to attract fintech, insurance, and banking firms to the NIFC;
• Implement frameworks that support innovation within the fintech, insurance, and banking sectors, ensuring alignment with NIFC’s strategic objectives;
• Manage the operational setup of the Innovation Hub, including the regulatory sandbox, providing specialized support to startups seeking regulatory guidance;
• Collaborate with strategic partners locally and internationally, executing strategies to promote sector-wide innovation in fintech, insurance, and banking;
• Develop actionable plans for funding support to fintech, insurance, and banking innovators, working with stakeholders to secure financial resources;
• Ensure NIFC’s regulatory frameworks are regularly updated to reflect international trends, maintaining global competitiveness;
• Support initiatives that enhance cooperation across fintech, insurance, and banking sectors via non-mandatory regulation frameworks;
• Coordinate the development of platforms for collaboration and partnerships, facilitating the scaling of firms through infrastructure use;
• Coordinate with international regulators to facilitate seamless cross-border banking operations and lead initiatives promoting the expansion of these services;
• Guide efforts to support the digital transformation of traditional banking by integrating mobile banking, blockchain, and AI technologies;
• Coordinate projects that drive innovation in insurance services, including promoting digital platforms and Insurtech solutions;
• Work with global insurance firms to create incentives for them to establish operations at the NIFC;
• Promote sustainable banking and insurance solutions that align with international ESG standards; and
• Implement risk management strategies to mitigate financial risks such as currency fluctuations and cybersecurity threats.

Private Equity and Venture Capital

• Formulate and implement the framework for defending existing and growing new investment into the NIFC;
• Develop the controlled environment for private equities and venture capitals to test products and reduce time-to-market while potentially lowering costs;
• Review proposals of tax incentives that are designed to encourage investments into the NIFC;
• Develop frameworks for the identification of NIFC-qualified activities;
• Develop a framework for NIFC firms to offer cross-border investment services in regional markets; and
• Build a network with regional and global Private Equity and Venture Capital funds to facilitate access to capital for NIFC start-ups.

Stakeholder Engagement and Services Department

• Develop attractive programs for existing and emerging expat talent with knowledge in these areas;
• Develop and regularly update a database for all the service providers;
• Develop strategies that facilitate skills matching between service providers and local start-ups;
• Develop a framework for the engagement of service providers;
• Review recommended incentives that attract specialized professional services providers for financial services;
• Develop 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

• Develop and regularly review the guidelines for certification;
• Review reports on applications based on the guidelines and the prescribed criteria for certification;
• Review the strategic fit examination of firms seeking certification;
• Coordinate due diligence and screening of firms seeking certification;
• Coordinate the development of a database of applications for certification and certified firms;
• Levy application fees, certification fees, and renewal fees; and
• Review and recommend renewal of certification for NIFC firms.

 Monitoring & Quality Assurance Department

• Monitor compliance of firms to the conditions set in their certificates;
• Enforce laws, regulations, and rules that NIFC firms are required to comply with;
• Work with financial sector regulators to ensure that NIFC firms continue to meet their obligations, to ascertain their continued eligibility for the NIFC certificate;
• Recommend the withdrawal or suspension of an NIFC certificate and the imposition of other administrative penalties for breach of any rules, regulations, or directives;
• Coordinate the preparation, implementation, and monitoring of the Authority’s quality management system;
• Coordinate enterprise risk management in the Authority;
• Coordinate the development, implementation, and monitoring of management systems and ensure retention of certification of the same;
• Coordinate the implementation of business process re-engineering initiatives; and
• Collaborate with stakeholders on matters relating to tax incentives for firms certified at the Centre.

 Person Specifications
For appointment to this grade, an officer must have:

• Bachelor’s degree in finance, economics, banking, accounting, business, law, actuarial science, statistics, mathematics, political science, or a related field, or any other relevant qualification from a recognized institution;
• Master’s degree in finance, economics, banking, accounting, business, law, actuarial science, statistics, mathematics, political science, 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;
• Member of a recognized professional body (e.g., ICIFA, CBI, ICPAK, LSK, ICS) or any other relevant professional body recognized in Kenya where applicable;
• At least eight (8) years of relevant work experience;
• At least three (3) years of experience in a supervisory role;
• Management course lasting not less than four (4) weeks from a recognized institution;
• Proficiency certificate in computer applications; and
• Fulfilled the requirements of Chapter Six (6) of the Constitution of Kenya.

Key Competencies and Skills

• Strategic financial insight;
• Leadership and mentorship;
• Complex problem-solving and innovation;
• Advanced stakeholder management;
• Risk analysis and mitigation;
• Interpersonal and communication skills;
• Report writing skills;
• Presentation skills; and
• Team player.