Principal Legal Counsel- Financial Services at Safaricom Kenya

Brief Description

Reporting to the Senior Legal Counsel-Financial Services, the position holder will act as Business Partner to the Financial Services Division; To provide the Financial Service Division skilled and specialized professional legal services, with an emphasis on contractual drafting, negotiation and review, legal research, legislative watch and regulatory support on an on-going basis. To provide specified departments/units within the Finance Division skilled and specialized professional legal services. Provide such legal support as may be necessary or exigent to other Business Units and team members within the Legal and Secretarial Services Department.

Responsibilities

• Negotiating & gaining buy-in of NEW customer contract including but not limited to agent, merchant, utility, Business-to-Business, Business-to-Customer and International money transfer (IMT) contracts and any new functionality as may be added from time to time.
• Ensuring suitability & updating existing customer contract templates e.g., consumer T&Cs, Agent agreements, B2C and C2B contracts, etc. in line with changing or evolving features and functionalities of the M-PESA Service.
• Design and implement in conjunction with Risk Management, clear pre-contractual vetting processes for potential M-PESA agents and law enforcement procedures.
• Implementation of changing Risk Control measures recommended for the M-PESA Business, through enforcement of dealer, agent and customer contracts. This is to be done in conjunction with the Risk Management Division.
• Where required liaise with Vodafone/Vodacom/M-PESA Africa dedicated legal resource on delivery of joint targets in relation to the legal relationship between Safaricom and Vodafone/Vodacom/M-PESA Africa on M-PESA related matters e.g Trademark matters, M-PESA managed service agreements, IMT (international money transfer) agreements.
• Participate and actively contribute to stakeholder review sessions on legislative issues materially affecting Financial Services, such Anti- Money Laundering, Electronic Financial Services, and Communications etc.
• Regulatory engagement: liaise with relevant regulators to ensure Safaricom remains responsive to regulatory concerns; ensure Safaricom earns/maintains the trust of financial service regulators; participate in the policy formulation and regulatory drafting process;
• Ensure timely submission of monthly and ad hoc reports as may be requested.
• Dispute management for litigation matters that arise from M-PESA contracts.
• All reporting
• To undertake detailed legal opinions on matters that requires statutory interpretations.
• Assist in negotiating renewal terms for facilities obtained from our lenders;
• Liaise with Finance to resolve issues as they arise;
• Provide general legal advice to the company

QUALIFICATIONS

• Degree in Law from a reputable commonwealth university with minimum 2nd class honors (or equivalent) and completion of Diploma of the Kenya School of Law;
• Advocate of the high court of Kenya of at least 5 years standing;
• Other post graduate diplomas or certificate courses suitable for the role in legal matters such as arbitration/mediation & negotiation skills, AML, IP, Legislative Processes/Drafting, etc.
• 3 years practical/demonstrable experience in commercial law, company law, and financial services law.
• Excellent working knowledge of telecommunications and IT legal and regulatory environment, e-commerce/m-commerce.
• Good knowledge of civil and criminal procedure codes
• Experience in engaging regulatory bodies preferred.

Closing date: 31 May 2022