Job Description
Job Purpose
The Head of Monetary Operations will report to Director, Financial Markets and is principally
responsible for setting the overall Monetary Operations strategy for implementation of Monetary
Policy Committee’s (MPC) recommendations. The role holder is expected to engage at the
highest level of the Bank and Bank organs and will provide leadership to the Monetary Operations
team in implementing monetary policy decisions. The role holder will be an integral part of the
Financial Markets Departmental Management team and they will work on: developing financial
markets, managing foreign exchange reserves and performing the agency role of domestic debt
management on behalf of the National Treasury.
In addition, the role entails;
• Implementing monetary policy decisions, developing financial markets, managing foreign
exchange reserves, and performing the agency role of domestic debt management on
behalf of the National Treasury. In addition, the role also facilitates payment of external
obligations on behalf of the Government of Kenya.
• Providing support to the Head of the Department in implementing the Monetary Policy
Committee (MPC) recommendations that seek to promote price stability, appropriate level of
interest rates and optimal liquidity in the economy.
• Assisting the Head of Financial Markets with on-going and long-term management and
development of the Financial Markets operations.
• Ensuring the Monetary Operations Division meets its functional responsibilities and makes these
contributions effectively and efficiently.
• Contributing appropriately to the performance of other functions and to the overall
achievement of the Bank’s strategic objectives
• Working effectively as part of the departmental management team to deliver on the Key
Result Areas and demonstrating competencies of his/her role.
Key Responsibilities
Strategic Responsibilities
• Set overall Monetary Operations strategy for implementation of MPC recommendations
Technical and Operational Responsibilities
• Implement MPC policy stance and advise MPC on implementations
• Ensure short term interest rates are consistent with the monetary policy stance:
• Ensure that the interbank settlement systems support financial liquidity as well as adequate
liquidity in the banking system.
• Ensure the division, its operations and staff have the capability to effectively discharge their
responsibilities.
• Responsible for Market analysis and performance reporting
• Make presentations in relevant policy forums
• Provide leadership, appraise and manage performance of staff within the Section
• Review forecast analysis, present and make recommendations the Monetary Policy
Management Committee
• Analyse and mitigate against potential market risks and volatilities.
Other Responsibilities
• Mentor, coach and mobilize the Business Development teams to achieve planned financial
results.
• Oversee training of new staff in the division on work procedures and company policies to
ensure effective client service
Problem solving
i. The ability to identify and understand the Department objectives in a fast paced and
complex operational environment.
ii. The need to identify the long term operational needs to support the Department effort.
iii. Handle authority expediently, be orientated towards immediate accomplishments and to be
a firm decision-maker
Planning
i. The ability to meet tight deadlines and to satisfy the Department’s objectives in a fast paced
and complex operational environment.
Results orientation
i. Delivering Results; Effectively manage your time and resources to ensure that objectives are
achieved, and projects are delivered on time.
Enabling Change
i. 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
i. Consider all the facts, options and possible outcomes prior to making decisions.
ii. Quick to act upon potential opportunities and take the initiative within limits of authority
Minimum Requirements
Basic Education
1) Bachelor’s Degree in Accounting, Business, Finance, Economics, Banking or a similar field.
2) Master’s Degree and Professional qualification in a relevant field is an added advantage.
3) Thorough and in depth understanding of Financial Markets, Banking and relevant emerging
issues in:
• National, regional and international regulatory and statutory requirements;
• Treasury Management.
4) Clear understanding of Financial and Monetary policy trends, Banking and relevant emerging
issues such as:
• Government bonds, bills and other instruments;
• Interest rates and pricing;
• Financial Markets emerging issues;
• Treasury management;
• Money & Capital markets;
• Derivatives.
5) Should be a member of relevant professional bodies with good standing
Experience
Not less than seven (7) years’ experience in Financial Analysis, Investments, Portfolio
Management, Banking and any other relevant area; two of which should be in a managerial
capacity; not less than two (2) years’ experience leading and driving Treasury Management (in a
reputable bank), Investments and Fund Management or any other related field.
The ideal role holder should have experience in managing a specialised technical team. Work
experience in Monetary Policy Development and Analysis institutions or multi-layered think-tanks
as well as high level networking at national, regional and global levels provides a competitive
advantage.
Technical Competencies
• Government bonds, bills and other instruments
• Interest rates and pricing
• Financial Markets emerging issues
• Treasury management
• Money and Capital markets
• Derivatives
• Interest rates and pricing
• Market analysis
• Accounting and taxation implications
Behavioural/ General Competencies
i) Leadership and management; ability to lead teams, mentor and coach staff towards
shared goals.
ii) Performance Management and team building
iii) Decision making; ability to make strategic decisions in a timely and effective manner and
to be accountable for decision making within departmental and role allocation and
advise departments on major and critical decisions required
iv) Professionalism; maintains a professional approach based on ethics and CBK values
v) Integrity and honesty and ethics; ensures ethical practices and integrity
vi) Stakeholder orientation; is stakeholder focused striking a solid balance between external
and internal stakeholder management.
vii) Resilience; is able to withstand strategic and operational challenges and maintain
momentum
viii) Emotional Intelligence; manages emotions in a mature and composed manner.
ix) Governance; knowledge and ability to ensure good governance practices in assigned
Department
x) Analytical; highly analytical and ability to challenge status quo based on quantitative
facts and impacts.
xi) Report writing; ability to develop relevant reports.
Citizenship:
• Must be a Kenyan
• Should be a member of relevant professional bodies with good standing