Assistant Director Bank Resolution - Nairobi, Kenya - Kenya Deposit Insurance Corporation

Description

ABOUT THE COMPANY

The Kenya Deposit Insurance Corporation (formerly Deposit Protection Fund Board) is a significant player in the financial sector as it provides a safety-net for the savings, banking and payments systems in the Republic of Kenya.

JOB SUMMARY

Requirements for Appointment:Minimum eight (8) years of relevant work experience, including five (5) years in a managerial role.Bachelor's degree in Commerce, Banking, Finance, Economics, Business Administration, or equivalent.Master's degree in relevant fields is advantageous.Completion of a management course is beneficial.Membership in a relevant professional body.Compliance with Chapter Six of the Constitution of Kenya 2010.

RESPONSIBILITIES

Articulate the strategic objectives of efficient and effective receivership, liquidation, and winding up of troubled banks and financial institutions in line with directorate's goals.Execute strategies for take-over and management of all assets, liabilities, and businesses of banks and financial institutions as the sole and exclusive receiver/appointed liquidator.Review proposals for payments and ensure timely processing of protected deposits.Implement and recommend strategies for timely collection of debts and disposal of the assets for the benefit of depositors and creditors of banks in receivership and financial institutions under liquidation.Execute approved resolution strategies to preserve the assets of banks placed in receivership and minimize financial loss.Make recommendations for the review of strategies, guidelines, and frameworks for financial crisis preparedness in the country and the region.Execute recommendations arising from financial crisis simulation exercises and make recommendations for improvement of the developed frameworks.Implement policies, strategies, guidelines, and procedures for an optimal resolution option which minimizes financial loss to the Deposit Insurance Fund.Execute developed policies, guidelines, procedures, and frameworks to wind up financial institutions under liquidation.Coordinate the implementation of strategies, policies, procedures, and frameworks to guide the management and disposal of subsidiaries and other assets of banks and financial institutions under resolution and wound-up institutions.Coordinate the development, implementation, and review of policies, guidelines, procedures, and frameworks for the management of residual assets of wound-up institutions.Implement developed policies, guidelines, procedures, and frameworks to ensure the safety of ownership documents of all assets and records of banks in receivership, financial institutions under liquidation, and wound-up financial institutions to facilitate timely realization for the benefit of the depositors, creditors, and the Corporation.Review investment proposals to ensure timely investment of funds for banks and financial institutions in receivership and institutions under liquidation in compliance with developed policies, guidelines, and procedures to preserve the value of the banks and increase the pay-out to depositors and creditors.Implement developed strategies leveraging on technology and support business process reengineering to enhance service delivery to depositors and creditors of banks in receivership and financial institutions under liquidation.Coordinate the maintenance of core banking and other operating systems of banks in receivership and institutions under liquidation for data confidentiality, integrity, and availability.Implement approved Alternative Dispute Resolution strategies to enhance loan collections, minimize running costs, and ensure an 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.Implement recommendations arising from engagements with financial safety-net players, strategic partners, Government agencies, private sector, and any other relevant stakeholders aimed at attaining the Corporations' Strategic objectives of efficient and effective receivership and liquidation.Implement and review developed financial and accounting policies and procedures to ensure compliance with relevant laws and regulations to ensure prudent and optimal utilization of financial resources for banks in receivership and financial Institutions under liquidation.Execute developed performance management systems to monitor, evaluate, report, and reward performance in line with agreed performance targets and service standards of the Corporation.Supervise, coach, mentor, and facilitate training and development of direct reports to ensure an efficient and motivated team.Implement and facilitate the review of risk management policy and framework that ensures the unit has a robust system and processes of accountability, enterprise risk management, and business continuity.Coordinate stakeholder management/engagement and financial literacy on receivership process and liquidation process through regular communication to enhance KDIC brand positioning.Coordinate management and utilization of all financial and non-financial resources for banks in receivership and wound-up financial institutions.Oversee all activities and manage the day-to-day operations for a smooth functioning and efficiency of the unit.Arrange for execution, discharge, and release of securities for fully settled debts for banks in receivership and institutions under liquidation.Facilitate disposal of assets of fully wound-up institutions.Organize for transfer and sign off of assets of fully wound-up institutions to the Corporation for the assigned unit.Implement developed policies and procedures to guide 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 and creditors.Manage assets of fully wound-up institutions for the benefit of the Corporation.Coordinate implementation and review of frameworks for engagement and evaluation of service providers in furtherance of the directorate's objective of an increase in debt recovery rate for banks in receivership and institutions under liquidation.Provide updates on the implementation of Board resolutions and audit recommendations for the unit.Provide regular, thorough, and prompt communication to the unit on key technical, financial, and administrative matters.Appraise the direct reports and staff of banks in receivership.Review information and data required for presentation to relevant financial sector committees articulating the Corporation's mandates of receivership, liquidation, and winding.Oversee the management of revenue, expenditure, assets, and liabilities of banks in receivership to enhance their liquidity and value preservation and institutions under liquidation to enhance their liquidity and ensure sustainability.Ensure adoption and implementation of relevant research findings and best practices relating to banks receivership, liquidation, and winding up processes.Oversee the implementation and review of the unit's commitments in the citizen service delivery charter to enhance accountability and transparency in service delivery to stakeholders.Implement approved strategies to prevent and mitigate against the risk of corruption in the unit.Resolve public complaints and oversee the processing of requests for access to information to enhance public confidence in relation to the receivership, liquidation, and winding up processes.Undertake implementation, monitoring, and review of the annual work plan and annual performance contract for banks in receivership in line with the directorate's objectives.Undertake implementation, monitoring, and review of the unit's annual work plan and annual performance contract in line with the directorate's objectives.Implement and review Quality Management Systems and other ISO Standards for process improvement and enhanced service delivery in the directorate.Oversee investment of the funds held by banks in receivership and institutions under liquidation in the assigned unit.Responsible for ensuring the safety of customer deposits for the assigned bank(s) in receivership.Responsible for ensuring that the depositors recover funds held in collapsed banks for the assigned unit.Responsible for the collection of loans and other debts for the assigned bank(s) in receivership and Institutions under liquidation.Coordinate implementation of departmental budgets and annual work plans, operation plans for banks in receivership, Institutions under liquidation, and budgets of the subsidiaries.Transfer surplus funds for wound-up institutions to the Deposit Insurance Fund.

REQUIRED SKILLS

Risk management, Decision making, Risk analysis, Leadership skills

REQUIRED EDUCATION

Post-graduate education