Senior Manager, Head of Risk, Compliance, and Policy (Senior Manager) at Central Bank of Kenya

Job Purpose

• The role holder is required to lead the Risk, Compliance & Reserves Policy Management Section within Reserves Management, responsible for providing strategic direction, oversight, and leadership in managing portfolio risks, portfolio performance analysis, ensuring compliance, and formulation of investment policy and guidelines for foreign reserves. The role also supports broader departmental goals through cross-functional collaboration and senior-level input into the development and execution of strategic initiatives.

Key Duties and Responsibilities

• Provide strategic leadership and direction for risk, portfolio performance, compliance, and policy management of foreign reserves aligned with departmental and Bank objectives.
• Develop, oversee, and update comprehensive policies and frameworks for risk management, performance evaluation, and regulatory compliance related to forex reserves.
• Lead the design and implementation of risk appetite standards, and performance benchmarks to optimize portfolio management.
• Ensure robust monitoring and reporting of portfolio exposures, including credit ratings, interest rate and currency risks, and counterparty assessments.
• Supervise the analysis and reporting of foreign reserves performance to senior executives, policy committees, and investment committees.
• Coordinate compliance to audits, internal reviews, and adherence to central bank regulations, international standards, and operational guidelines.
• Advise senior management on reserves management strategies, recommending policy enhancements and operational improvements.
• Oversee research, development, and implementation of advanced analytical tools and frameworks to enhance risk and performance analysis.
• Represent the institution in policy dialogues, international forums, and engagements with external auditors, rating agencies, and regulatory bodies.
• Manage and mentor a high-performing team, fostering professional development, capacity building, and succession planning.
• Ensure effective operational management, resource allocation, business continuity, and comprehensive KYC compliance within the section.
• Perform other duties as assigned by the Deputy Director, Reserves Management.
• Any other assigned duties and responsibilities.

Qualifications

• Bachelor’s degree in Finance, Economics, Risk Management, or related field.
• Master’s degree in Finance, Economics, Risk Management, or related field will be an added advantage.
• Professional certifications such as CFA, CIFA, FRM, or PRM will be an advantage.

Work Experience

• Ten (10) years’ experience in central banking, asset management, or treasury, with at least 5 years in a leadership role focusing on risk, performance, or compliance.

Competencies

Technical Competencies

Clear understanding of financial markets and knowledge in:

• National, regional, and international regulatory and statutory requirements.
• Foreign Exchange Market operations.
• Money markets and products including bills and bonds and other instruments.
• Capital markets.
• Investments benchmarks performance measurement and attribution.
• Interest rates and financial instruments pricing.
• Market analysis.
• Fundamental analysis and technical analysis.
• Investment policies and guidelines.
• Risk management ability to identify departmental risks and develop mitigating measures
• Scenario analyses and testing.
• Portfolio management.

Behavioural/ General Competencies

• Leadership and people management skills, with experience in performance management, coaching & mentoring.
• High-level of emotional intelligence, interpersonal and cross-cultural interaction skills, including ability to build consensus, alliances, and collaborative relationships with sensitivity to diversity.
• 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.
• Excellent communication skills – written and oral for all levels of engagement.
• Project management skills - Ability to identify the combination of expertise, knowledge, resources, and capabilities required to deliver projects/assignments in the division.
• Organisational and administrative skills.
• Planning – The ability to meet tight deadlines and to satisfy the Department’s customer service requirements in an environment laced with a wide variety and unexpected challenges.
• Ability to be proactive and use technology and other modern tools to drive decision-making and implementation.
• Ability to consider emerging trends, developments and long-term opportunities and align organisational requirements with desired outcomes.
• Strategic thinking. Ability to focus on finding and developing unique opportunities to create value for the bank.
• High level of networking and engagement at senior levels.
• Independence of thought and objectivity – ability to work with an unbiased mental attitude.
• Professionalism, integrity, and honesty in line with the CBK values.
• Ability to withstand strategic and operational challenges and maintain momentum.
• Ability to manage multiple stakeholders and drive change.
• Governance – knowledge and ability to ensure good governance practices.
• Excellent Problem solving and creativity skills.
• Result oriented – effectively manage your time and resources to ensure that objectives are achieved, and projects are delivered on time.
• Enabling change – Encourage others to seek novel and innovative approaches to addressing problems and opportunities. Facilitate the implementation and acceptance of change within the workplace.
• Decision Making Skills – Consider all the facts, options, and possible outcomes prior to making decisions and Quick to act upon potential opportunities and take the initiative within limits of authority.