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KDIC is a statutory institution established under the Kenya Deposit Insurance Act, 2012 (KDI Act, 2012). The Corporation is mandated to provide a deposit insurance scheme for customers of member institutions, to provide incentives for sound risk management and generally promote the stability of the financial system and prompt resolution.
Department: Liquidation
Directorate: Resolution
KDIC Grade: KDIC 7
You will carry out of daily operations of loan collections, realization of securities, updating of records and processing of payments for banks/ financial institutions in liquidation in compliance with the established operations guidelines; ensure timely and prompt payments to depositors and creditors and support successful completion of winding up process of non- viable banks/ financial institutions.
Key Responsibilities
Operational Responsibilities
- Regular following of the assigned borrowers’/ debtors’ files to ensure loans outstanding in banks/ financial institutions in liquidation are paid as negotiated;
- Providing historical information required on long outstanding contentious debts to facilitate negotiations for amicable settlement;
- Capturing all payments by the debtors/ borrowers in a timely and accurate manner in the Corporation Enterprise Resource Planning System;
- Reviewing the existing loan portfolio to identify cases that can be resolved through Alternative Dispute Resolution Mechanisms and making recommendations to the management for review;
- Compiling information relating debtors’/ borrowers for submission to Credit Reference Bureaus (CRB) in accordance with the law;
- Preparing a maturity analysis report for the existing investment portfolio of Surplus funds held by institutions in liquidation for cash flow management planning;
- Providing supporting documents for ongoing court cases to aid in legal recovery of litigated debts;
- Initiating requests to procure services of valuers and auctioneers to facilitate realization of assets through public auctions for approval by immediate supervisor;
- Issuing of instructions to valuers, auctioneers, Advocates and debt collectors to carry out Asset recovery services as per the engaged terms;
- Following up with the engaged service providers (Valuers, auctioneers debt collectors and private investigators) to ensure the process of asset realization is conducted in a seamless manner;
- Preparation of the documents required to assist in releasing of securities for fully paid-up loans/ debts;
- Compiling a report of all contingent liabilities of the banks/ financial institutions in liquidation and monitoring crystallization;
- Maintaining records of all preserved assets for the assigned institutions in liquidation for the benefit of depositors and creditors;
- Identifying and advising the investigations department on assets to be preserved and providing the supporting documents to aid the preservation process;
- Preparing proposals on negotiations by debtors to resolve long outstanding debts for management consideration and approval;
- Receiving and acknowledging depositors’ claims submitted for payments and checking for completeness to ensure timely payments in compliance with customer service Charter;
- Preparation of draft public notices for approval inviting depositors and creditors to lodge claims for payments in compliance with statutory guidelines;
- Preparing of statutory returns for filing with the Registrar of Companies in compliance with KDI ACT 2012; and
- Providing the secretariat services in the process of documenting resolution experiences of fully wound institutions as part of knowledge management and sharing for the corporation.
Job Competencies
Academic qualifications
Bachelor’s degree in any of the following disciplines: Commerce, Finance, Economics, Business Administration from a recognized institution
Work experience
2 years relevant working experience in preferably in Banking, Financial Management Credit Administration, Conveyancing, Litigation, Asset Management & Tracing.
Functional Attributes
- Communication skills
- Analytical skills
- Proficiency in computer application skills
- Interpersonal skills
- Report writing skills
- Budgeting skills
- Time management skills
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Department: Investigations
Directorate: Resolution
KDIC Grade: KDIC 7
You will carry out daily operations as per the established policies and procedures geared towards tracing and preserving of fraudulently acquired assets from the funds of a troubled institutions either in receivership or liquidation to ensure maximum recovery for the benefit of depositors and creditors.
Key Responsibilities
Operational Responsibilities
- Visiting the relevant government ministries and other agencies to place caveats and restrictions on assets whose ownership is in dispute between a troubled financial institution and a borrower/ debtor of the Institution;
- Liaising with motor vehicle registration agency to aid in tracing motor vehicles offered as securities to the bank/ financial institution in receivership/ liquidation;
- Site visits to confirm actual existence and status of the preserved/ restricted assets in the interest of depositors and creditors;
- Undertaking investigations to lift the corporate veil and identify individual parties responsible for bank failures for effective prosecution;
- Undertaking periodic investigations from relevant government agencies to confirm the status of preserved assets and take remedial action where the preservation mainly caveats and restrictions has been illegally interfered with;
- In liaison with the government security agencies and other private security providers ensure the value of the assets traced and preserved is maintained;
- Conducting searches in lands registry offices to confirm ownership of title documents held as securities by banks/financial Institutions in receivership and liquidation;
- Preparing a status report at regular intervals on all assets successfully traced and preserved and the recovery progress made;
- Skip tracing of debtors / borrowers belonging to banks/ financial institutions whose identity and whereabout is unknown and making recommendations on the best recovery method based on the findings;
- Compiling information required by Bank Fraud Investigation department to support non- conviction-based recovery; and
- Attending assigned court cases to give testimony on behalf of the troubled financial institutions for matters investigated by the department.
Job Competencies
Academic qualifications
- Bachelor’s degree in any of the following disciplines: Commerce, Finance, Economics
- Business Administration or its relevant qualification from a recognized institution
- Certification in fraud examination would be an added advantage.
Work experience
Two years’ (2) relevant experience preferably in Banking Fraud investigations, Forensic examination and Audit.
Functional Attributes
- Investigation skills
- Communication skills
- Analytical skills
- Problem solving skills
- Proficiency in computer application skills
- Interpersonal skills
- Presentation skills
- Report writing skills
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Department: Internal Audit
KDIC Grade: KDIC 6
You will undertaking Risk Based Audits, making recommendations and follow up to determine extent of implementation of the recommendations in order to provide independent assurance that the organization’s risk management, governance and internal controls processes are operating effectively.
Key Responsibilities
- Operational Responsibilities
- Participating in the development and implementation of internal audit strategies, budget, policies, and procedures in compliance with Internal Auditing Standards to achieve KDIC’s strategic objectives;
- Preparation of risk based annual audit plans aligned to KDIC’s objectives for the continuous audit of the corporation’s risk management, internal controls, governance processes;
- Implementation of audit plans as approved by the Board Audit Committee;
- Undertaking risk-based audits as per approved audit plan;
- Preparing draft audit programs on the areas being audited;
- Carrying out audit tests and procedures as per audit programs;
- Carrying out compliance audits for management procedures and ensures departmental compliance to the established control frameworks and statutory obligations;
- Performing operational reviews and appraise the effectiveness and efficiency in which the Corporation’s resources are employed;
- Carrying out adhoc audits, special audit assignments and investigations as necessary;
- Participate in opening meetings with the auditee at the beginning of fieldwork to explain on the purpose, nature and scope of the audit;
- Participate in closing meetings with auditee at the end of fieldwork, providing clear explanations for identified issues;
- Preparing timely and accurate draft reports for review by the supervisor;
- Undertaking follow-up audits to determine whether agreed recommendations on the past reviews are being undertaken by the process owner;
- Verifying the existence and safety of Assets;
- Implementation of the departmental budget;
- Updating of ISO Standards and other Quality Standards (ISMS) implemented by the department
- Responsible for TeamMate user support and maintenance.
Job Competencies
Academic qualifications
- Bachelor’s degree in Commerce, Finance or any other related field
- Professional Qualifications and Membership
- Minimum of ACCA Level II or CPA II
- Work experience
- Min. 4 years relevant working experience preferably in Risk-Based Auditing & investigations.
Functional Attributes
- Effective organizational skills
- Proficiency in computer applications
- Proficiency in Microsoft office suite application (e.g. MS excel, MS word, MS PowerPoint, Outlook, Visio);
- Proficiency in use of CAATS e.g. Teammate;
- Analytical and problem-solving skills
- Excellent analytical and multitasking skills;
- Excellent communication skills
- Excellent team and client relationship management skills.
- Excellent presentation and report writing skills
- Judgemental skills
- High integrity and dependability;
- Creativity and innovation
- Attention to details;
- Results oriented;
- Ability to work with deadlines and without close supervision.
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