Senior Securities Auctions Officer (Senior Business Analyst 2) at Central Bank of Kenya

Job Purpose

The role holder is responsible for the issuance of government securities to finance respective domestic debt borrowing targets consistent with the Medium-Term Debt Strategy (MTDS) and domestic debt issuance program.

Key Duties and Responsibilities

Strategic Responsibilities

• Contributes as appropriate to the performance of other functions and to the overall achievement of the Bank’s strategic objectives.
• Works effectively as part of the team to deliver on the Key Result Areas and demonstrates competencies of his/her role.

Technical and Operational Responsibilities

• Undertake operations for implementation of Kenya’s budgetary gap earmarked for financing from the domestic market.
• Participate in Government securities issuance through weekly Treasury bills auctions and monthly Treasury bond auctions.
• Contribute to recommendations on auctions to the Departmental management on the rates and volumes to be accepted considering the stability of the markets yield-curve, stability of government cash flow liquidity, debt structure/diversity, amongst others.
• Respond to investor enquiries.
• Conduct disbursement to the National Treasury, KRA, CMA and the other designated recipients.
• Undertake Liability Management Operations (LMO).
• Implement approved securities’ market initiatives.
• Contribute to Departmental recommendation to CBK Management aligned to the government fiscal framework and the borrowing program.
• Participate in management of risks associated with securities auctions and LMO including operational risks, reputation/image risks, information risks, market risks, legal risks, among others.
• Participate in evaluation and recommendations on risks and costs associated with the issuance of government securities debt portfolio including market risk such as pricing or interest rate/yield curve risk, liquidity risk (auction undersubscriptions); maturity/refinancing risk; fiscal funding risk; default risk, financial risk; reputation/image risk, information risk, among others.
• Draft departmental advisory on domestic debt management and market development as the fiscal agent of and advisor to Government.
• Any other assigned duties and responsibilities.

Qualifications

• Bachelor’s Degree in accounting, business, finance, economics or banking or similar field.
• Clear understanding of financial markets and relevant emerging issues in:
• Government borrowing.
• Issuance of government securities.
• Liability Management Operations.
• Risk Management.

Work Experience

• At least three (3) years of securities auction work experience

Competencies

Technical Competencies

Knowledge and experience in:

• Public Financial Management Act.
• Financial Markets current issues.
• Technical analytics.
• Report generation/preparation.
• Interest rates and pricing.
• Market environment.
• Domestic debt and debt strategies.
• Investor awareness.
• Investor relations (wholesale and retail).

Behavioral/ General Competencies

• Analytical – highly analytical and ability to challenge status quo based on quantitative facts and impacts.
• Strong professional approach, integrity and ethical orientation based on CBK value system.
• Strong interpersonal communication skills.
• Work ethic & integrity - Ability to convey a high level of excellence and competence on delivery of duty.
• Collaboration and teamwork - Ability to work collaboratively within a group of people to achieve a common goal.
• Accountability and professional development – Ability to take and accept responsibility and outcome thereof in an open and transparent manner.
• Planning and organization - Ability to organize work, set priorities, and determine resource requirements; determine short or long-term goals and strategies to achieve them; coordinate with other stakeholders or part of the organization to accomplish goals.
• Quality orientation - Ability to check work to ensure accuracy. Adopt a disciplined approach to work and drive for closure, results, and success.
• Customer focus with balance between external and internal customers.
• Resilience to withstand operational challenges and maintain momentum.
• Strong emotional intelligence - manages emotions in a mature and composed manner as expected of a leader.