Job Description
Job Purpose
The Head of Operational Risk will report to the Director, Financial Markets and their role will be to
support the Director, Financial Markets in the effective and proactive management of operational
risks at an integrated level within the Department. The role holder will be responsible for
Operational Risk Management within the department including design and implementation of
appropriate processes and procedures. It is important that the ideal candidate demonstrates the
ability to engage and influence various groups of stakeholders through well-honed communication
skills.
In addition, the role entails;
• Leading and directing the Operational Risk function to achieve the Department strategic
goals.
• Designing, Implementing, and monitoring of operational risk management frameworks and
processes within the Department
• Monitor and validate the quality and consistency of operational risk processes across the
Department
• Continuously improve the operational risk processes with the intention of adding value to the
Department whilst introducing practices that are fit for purpose in line with business strategy
whilst at the same time mitigating risk.
• Apprise the Director FMD fully on the operational risk status.
• Ensure that training and development on Risk Management is offered to staff on a regular
basis.
• Working effectively as part of the senior management team to deliver on the key result areas.
• Evaluating the Business Continuity Plan within the department and update.
Key Responsibilities
Operational Risk
• Identifying and managing risk for each business process in the Financial Markets Department
• Development of key risk indicators in reserves and debt management
• Responsible for analysis of key risk drivers; people, process, systems, and external events
• Maintenance and updating of department operations manual
• Communicate the operational risk framework, standards, and other risk principles effectively to
the Department i.e., Risk and Control Self Assessments (RCSA’s), Key Risk Indicators (KRI’s),
Business Continuity Management (BCM), Information Risk, and Risk Assurance.
• Promote compliance to operational risk policies.
• Encourage a high level of awareness of operational risk in the business.
• Provide a central point of reference and expertise in operational risk matters to the
Department.
• Assist in the analysis of information and reports to establish trends and consider initiatives to
reduce risk.
• Identify major operational risks affecting the Department and take necessary steps to measure,
monitor and control accordingly.
• Review and evaluate internal controls and propose appropriate recommendations for any
changes and/or enhancements.
• Ensure that agreed remedial actions adequately address internal control deficiencies and
thereafter ensure regular follow up to ascertain execution and effectiveness.
• Participate in the Department’s business processes, initiatives, forums, committee, etc. to
ensure that operational risk requirements are appropriately considered, executed and
reported
Information Risk
• Ensure pro-active management of information risks
• Manage and track information risk control efforts and escalation to Head of FMD where
inadequate mitigation is evident
• Promote compliance to information risk governance standards and policies.
• Create risk metrics and reports for Head of FMD at required frequencies.
Business Resilience
• BCM Governance – Policy Enforcement and Programme Administration
• Business Impact Assessment and Risk Assessment
• Business Continuity Strategy
• Business Continuity Planning
• Exercising and Testing
• Maintenance and Review
• Training and Awareness
• Monitors, Promote and maintains an understanding of current/future business continuity trends
and threats.
Risk Governance
• Ensure full implementation of Risk governance framework, including the administration of Risk
governance documents (i.e., policies, procedures, mandates) across all risk types – Credit,
Market and Operational Risk.
• Implement assurance function cutting across all risk types in conjunction with Operational Risk
and Operations Control.
• Champion consolidated risk reporting with a view to standardizing risk reports for the different
governance forums and establishment of a single point of information and data
Key performance measures
• The quality and improvement in Internal Audit and Risk Assurance reports.
• Improved quality of Operational Risk tools – Incident Reports, RCSAs and KRIs - in risk
identification.
• BCM documentation maintained and Integrated BCM/ testing – delivering against BCM
Programme of Work.
• Loss control – effective root cause analysis, escalation process effective, data quality in place
and control environment improved through analysis on incidents.
• Quality of risk assurance support on change initiatives being rolled out
• Effective root – cause analysis for losses (also, deal with behavioral causes).
• Completion of high-quality assurance reports in a timely manner
• Demonstration of existence of framework, tools, and metrics for consolidation of risk exposure
• Reports to stakeholders on risk status on a regular basis.
• Evidence of risk awareness campaigns, policies, and procedures in place across the
Department & escalation of risk issues by front line staff.
• Timely escalation of Operational Risk Matters/concerns
Other Key Responsibilities
Problem solving
i. The ability to identify and understand the Department needs and strategies and then to
interpret and convert these into operational risk strategies.
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 customer service
requirements in an environment laced with a wide variety of problems and unexpected
challenges.
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) Professional qualification in a relevant field of study e.g. CPA, ACCA, CFA, CAIA are an
added advantage.
3) In depth technical knowledge and experience of Financial and Capital Markets, Banking
and relevant emerging issues such as:
• National, regional and international regulatory and statutory requirements;
• Foreign exchange management and operations;
• Risk Management;
• Treasury management.
4) Must be a Kenyan citizen.
5) Should be a member of relevant professional bodies with good standing.
Experience
A minimum of Eight (8) years’ experience in a Risk and Operations role; Five (5) Years’ experience
in a Managerial position leading and driving Operational Risk management within a large player in
the Financial Services sector.
Technical Competencies
• Risk management
• Pricing and evaluation
• Accounting and taxation implications
• Financial markets payments
• Financial Markets emerging issues
• National, regional and international statutory trading requirements
• Foreign exchange management and operations
• Treasury management
• Debt management
• Money markets
• Market analysis
• Banking laws and regulations
• Central Banking Operations
• Analytical –highly analytical and ability to challenge status quo based on quantitative facts
and impacts
• Stakeholder Management
• Report writing
• High level of networking
Behavioural/ General Competencies
i) Leadership and management-ability to lead teams, mentor and coach staff to goal
definition and achievement
ii) People management skills, including teambuilding, motivation, team goal planning and the
ability to use team expertise to full advantage;
iii) Decision making; ability to make strategic decisions in a timely and effective manner
iv) Professionalism; maintains a professional approach based on ethics and CBK values
v) Integrity and honesty and ethics; ensures ethical practices and integrity and ensures CBK is
not put at reputational risk
vi) Building consensus and influencing; ability to influence various players across all CBK
departments
vii) Good verbal and written communication skills;
viii) Customer service orientated-striking a solid balance between external and internal customer
orientation
ix) Resilience; ability to withstand strategic and operational challenges and maintain
momentum
x) Emotional Intelligence; manages emotions in a mature and composed manner as expected
of a leader.
Citizenship
• Must be a Kenyan
• Should be a member of relevant professional bodies with good standing