Assistant Director Deposit Insurance and Bank Surveillance 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:

Coordinate the development, implementation, and review of policies, strategies, guidelines, and procedures for the Deposit Insurance System covering all commercial and microfinance banks licensed by the Central Bank of Kenya (CBK).

Manage the policies, strategies, guidelines, and procedures for the application and management of the Deposit Insurance Fund to enhance public confidence in the financial sector.

Oversee the development and implementation of strategies, guidelines, and procedures for surveillance of banks to assess their exposure to the deposit insurance scheme.

Coordinate the development, implementation, and review of policies, strategies, procedures, and guidelines for Resolution Planning of banks to mitigate exposure to the deposit insurance fund.

Lead initiatives to leverage innovation, technology, and business process re-engineering for enhanced service delivery and addressing emerging trends in Deposit Insurance Systems.

Develop, implement, and review policies and methodologies for stress testing the Deposit Insurance Fund's viability and resilience against banking system risks.

Supervise the establishment of a bank risk management and surveillance framework to ensure financial soundness and proactive risk management.

Coordinate data and information sharing frameworks and collaboration agreements among financial safety-net players and partners to foster financial stability.

Provide supervision, coaching, mentoring, training, and development for departmental staff to ensure efficiency and motivation.
Coordinate the conservation, dissemination, and application of knowledge and information on Deposit Insurance and prompt resolution.
Implement policies and strategies to ensure timely payment of protected deposits and incentivize sound risk management in banks.
Oversee premium assessment policies and procedures to align with the Corporation's mandate.
Develop policies and procedures to define deposit insurance coverage levels and scope in line with international best practices.
Establish policies and methodologies for determining the optimal Target Fund size to meet the Corporation's mandate.
Implement financial crisis preparedness and management policies for banks and financial sector regulators.
Conduct training programs on crisis preparedness and management for relevant stakeholders.
Implement Resolution Planning strategies for problem banks to maintain financial stability.
Leverage innovation and technology for improved service delivery and addressing global trends in Deposit Insurance Systems.
Coordinate the development, implementation, and review of departmental strategic objectives.
Develop policies and procedures for dispute resolution to protect the Corporation's interests.
Establish collaborations and partnerships with stakeholders and relevant entities to adopt best practices in deposit insurance.
Implement policies and procedures for identifying emerging global trends and risks in deposit insurance.
Oversee performance management systems to monitor and evaluate departmental performance.
Coordinate the development, monitoring, and review of departmental budgets, work plans, and reports.
Develop and implement citizen service delivery charters to enhance accountability and transparency.
Implement corruption prevention and mitigation strategies within the Department.
Draft policy proposals on deposit insurance and troubled bank resolution for Government consideration.
Implement Board resolutions and decisions relevant to the Department.
Address internal and external audit recommendations for continuous improvement.
Provide regular reports and updates to senior management on departmental matters.
Appraise the performance of departmental staff and provide feedback.
Draft position papers on the Corporation's mandate for relevant forums.
Coordinate change management initiatives within the Department.
Develop and enforce internal monitoring and control systems.
Implement public awareness initiatives to enhance the Corporation's mandate.
Coordinate enterprise risk management policies and frameworks for accountability and risk mitigation.
Manage resolution of public complaints and requests for information to enhance public confidence.
Develop, implement, monitor, and review Quality Management Systems and Information Security Management Systems.
Implement Corporate Governance principles and relevant policies within the Department.

Requirements for Appointment:
At least eight (8) years of relevant work experience, with five (5) years in a managerial role.
Bachelor's Degree in Commerce, Finance, Economics, Actuarial Science, Business Information Technology, Business Management, Business Administration, or equivalent.
A master's degree in related fields is advantageous.
Professional qualification in accounting, risk management, actuarial science, financial analysis, or fraud examination is desirable.
Completion of a management course from a recognized institution is beneficial.
Proficiency in computer applications.

Membership in a professional body such as ICPAK, GARP, ICIFA, IRM, CFA, ACFE, PRMIA, IIA, ISACA, CRM, or Actuarial Society.

Professional qualification in accountancy, risk management, financial analysis, fraud examination, internal audit, information technology, or actuarial science is an asset.



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