Senior Deposit Insurance and Bank Surveillance Officer at

1 month ago


Nairobi, Nairobi Area, Kenya Kenya Deposit Insurance Corporation Full time
KDIC is a statutory institution established under the Kenya Deposit Insurance Act, 2012 (KDI Act, 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.

Duties and responsibilities will entail:

Developing procedures and tools for bank risk management, including on-site and off-site examination, and surveillance framework to enhance financial soundness, proactive risk management, and early detection of distressed banks to protect the interest of depositors.

Developing and implementing strategies, guidelines, and procedures for the provision of a Deposit Insurance System and management of the Deposit Insurance Fund to protect depositors and promote public confidence in the financial sector.

Formulating the risk-based premium assessment model, parameters, and procedures applicable for charging premiums payable by all commercial banks and microfinance banks licensed and regulated by the Central Bank of Kenya into the Deposit Insurance Fund.

Developing curriculum for Crisis Preparedness and management and spearheading crisis simulation exercises for the Corporation.

Drafting and implementing tools and work plans for the on-site and off-site examination of all commercial and microfinance banks licensed by the Central Bank of Kenya.

Preparing bank examination reports, and monthly, quarterly, and annual Data Analysis reports, proposing recommendations to address identified gaps of the financial performance of member banks.

Drafting and implementing strategies and procedures to ensure timely payment of protected deposits, increase the value of deposits covered in the deposit insurance system, and provide incentives for sound risk management and effective fund management.

Drafting and implementing procedures for Viability Assessment, Systemic Impact Assessment, and Resolvability Assessment for commercial and microfinance banks licensed and regulated by the Central Bank of Kenya, their subsidiaries, and related parties.

Implementing strategies and procedures for effective premium assessment, management, and application of the deposit insurance fund to promote public confidence.

Implementing innovation, technology, and business process re-engineering strategies to enhance service delivery to stakeholders and address emerging global trends in bank Deposit Insurance Systems.

Drafting and implementing strategies and procedures to define the level and scope of deposit insurance coverage and determine optimal Target Fund Size and timeframe to achieve the Fund size to meet the Corporation's mandate.

Carrying out stress testing of all commercial and microfinance banks.

Implementing procedures for dispute and complaint resolution to protect the interests and reputation of the Corporation in the execution of risk minimization and prompt resolution mandate.

Implementing methodologies and guidelines for providing incentives for sound risk management to commercial and microfinance banks licensed and regulated by the Central Bank of Kenya.

Drafting and implementing procedures for data and information sharing by commercial and microfinance banks for analysis, risk assessment, and profiling.

Carrying out risk-based rating and reporting of all commercial and microfinance banks licensed by the Central Bank of Kenya.

Organizing stakeholder forums to discuss thematic areas including risk minimization, deposit insurance, and prompt resolution.

Implementing performance management systems to monitor, evaluate, report, and reward performance in line with agreed performance targets and service standards of the Department.

Identifying emerging global trends and risks and outlining risk response activities for financial stability.
Implementing change management and business process re-engineering programs in the Department.
Implementing policies on enterprise risk management, business continuity planning, and disaster recovery plans.

Resolving public complaints and processing requests for access to information from the Department to enhance public confidence in relation to the Corporation's mandate.

Implementing and maintaining Quality Management Systems, Information Security Management Systems, risk management, and other ISO Standards for process improvement and enhanced service delivery in the Department.

Implementing procedures for harnessing, conservation, and dissemination of knowledge and information on Bank Risk minimization, deposit insurance, and prompt resolution.

Drafting and implementing the Department's citizen service delivery charter to enhance accountability and transparency in service delivery to stakeholders.

Implementing corruption prevention and mitigation strategies in the Department.

Implementing guidelines for supervision, coaching, mentoring, training, and development of all staff to ensure an efficient and motivated team in the Department.

Drafting the Department's annual budgets, annual work plan, annual procurement and disposal plan, annual performance contract, and the Department's periodic reports.


Requirements for Appointment:

At least four (4) years' experience in financial analysis, risk management, forensic or fraud investigation, actuarial analysis, financial reporting.

Bachelor's Degree in Commerce, Finance, Economics, Actuarial Science, Business Information Technology, Business Management, Business Administration, or relevant qualification from a recognized institution.

Professional qualification in accounting, risk management, actuarial science, financial analysis, or Information Technology, or fraud examination.
Proficiency in computer applications.
Fulfilling the requirements of Chapter Six of the Constitution of Kenya 2010.

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