Head of Digital Payment Services (Deputy Director) - Banking and Payments Services at Central Bank of Kenya

Job Purpose

The Head of Digital Payments Division is responsible for the supervision of the activities of the three Sections to ensure that the Division meets its functional objectives and contributes to the achievement of NPS mandate.

Key Duties and Responsibilities

Strategic Responsibilities

• Implement the National Payments Services (NPS) oversight framework by rolling out off-site as well as on-site oversight programs.
• Implement a new integrated information management system to facilitate the electronic submission and processing of National Payments Services (NPS) returns.
• Contribute as appropriate to the performance of National Payments Services (NPS) function and to the overall achievement of CBK’s strategic objectives by actively participating in the development, implementation, and execution of the Bank’s strategic plan.
• Implement projects aimed at improving the implementation of CBK mandate for payments to ensure smooth, efficient, secure and effective national payment system.
• Review and approve the development of oversight policy framework and oversight implementation tools, assessment of sector performance and induce change where necessary.
• Provide leadership in the formulation of payment systems policy and spearhead innovation in line with the strategy of the bank, national and regional priorities.
• Oversee the preparation of analytical information of the payment sector to determine the health of payment systems in Kenya.
• Oversee and approve the authorization of payment service providers and approval of new innovative payments products to promote an all-inclusive, technologically driven national payment system.

Technical and Operational Responsibilities

• Supervise review of new payment service providers’ applications and recommend for approval to Management in line with the National Payments Services (NPS) Act and Regulations.
• Review and recommend for approval all applications for the launch of any new payment product/service by existing payment service providers.
• Ensure that research and analysis on emerging issues is carried out e.g. FinTechs, Trust income distribution etc.
• Review NPS policy framework continuously with the aim of aligning the National Payments Services (NPS) Act and Regulations to the modern practices in payments in line with the best practice.
• Review consumer awareness programs and sensitization on new payment policy initiatives.
• Identify new areas for inclusive financing and recommend actions for policy formulation.
• Ensure the optimal performance of the information management system for National Payments Services (NPS).
• Ensure payment systems infrastructure meets international standards through assessment of Payment Systems against international standards.
• Oversee the development of a risk management framework for payment systems/instruments.
• Review oversight reports prepared for management including e.g. annual oversight reports, Financial Stability (FS) report and incident reports.
• Coordinate and chair meetings with prospective new payment service provider for regulatory guidance.
• Oversee divisional budget development and monitoring.
• Mentor and coach the team to ensure that they deliver on the tasks in a timely manner.
• Supervise the teams and monitor performance using the available appraisal tools.
• Ensure that the annual training plan carters for all staff in National Payments Services (NPS) to ensure effective service delivery.
• Participate in various stakeholders’ forums and interdepartmental meetings.
• Any other roles and responsibilities that may be assigned from time to time

Qualifications

• Bachelor’s Degree in Economics, Banking, Accounting, Finance, Business Administration, Insurance, Law, Mathematics, Computer Science, or related field of study.
• Master’s Degree in Economics, Banking, Accounting, Finance, Business Administration, Insurance, Law, Mathematics, Computer Science, or related field of study is an added advantage.
• Professional qualifications in Banking, Accounting, Finance, Risk Management, or related field of study is an added advantage.

Work Experience

• At least ten (10) years’ work experience in Payments & Banking operations, Financial Services, Economics, Accounting or similar operations; five (5) of which should be in a senior leadership role.

Competencies

Technical Competencies

• Good understanding of national payment systems issues
• Good understanding of financial reporting requirements and standards
• Accounting/finance knowledge
• Good understanding of Banking Laws and regulations
• Good understanding of Central Banking Operations
• Good IT skills

Behavioral/ General Competencies

• Leadership and people management including performance management, coaching & mentoring - Ability to motivate, influence staff to act towards achieving a common goal. Create and articulate a vision, inspiring others to work towards achieving the vision and providing developmental and stretching opportunities to staff - in line with skills, abilities, and experience.
• 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.
• Communication and information sharing -Ability to express information clearly and succinctly, orally and in writing, considering the audience and the nature of the information.
• Professionalism, work ethic and integrity - Ability to convey a high level of excellence and competence on delivery of duty.
• Critical and analytical thinking and problem-solving skills- ability to understand issues from multiple perspectives/layers and take account of the wider business context when crafting solutions.
• Risk management- ability to identify departmental risks and develop mitigating measures.
• Collaboration and teamwork - Ability to work collaboratively within a group of people to achieve a common goal. Support team members to take decisions independently and take the lead in their area of expertise.
• Accountability and professional development – Ability to take and accept responsibility and outcome thereof in an open and transparent manner.
• Customer focus - Ability to demonstrate concern for the expectations of customers and prioritize them as well as convey realistic expectations to both internal and external customers.
• Resilience - Ability to withstand operational challenges and maintain momentum.
• Decision making - the ability to make better decisions, as defined by decision-making principles posited by models of rational choice.
• Emotional Intelligence -manages emotions in a mature and composed manner as expected of staff.
• Analytical –highly analytical and ability to challenge status quo based on quantitative facts and impacts.
• Digital mind-set - Ability to recognize the importance and impact of technology on the ways of working and integrate technology in the day-to-day job to achieve efficiency, quality, and productivity in the function.
• Creativity and innovation - Promote an environment that encourages creative thinking, and innovation within the ambits of existing rules/guidelines.