Business Analyst 2, Compliance and Market Conduct (Business Analyst 2)

ABOUT THE COMPANY

The Central Bank of Kenya was established in 1966 through an Act of Parliament - the Central Bank of Kenya Act of 1966. The establishment of the Bank was a direct result of the desire among the three East African states to have independent monetary and financial policies. This led to the collapse of the East Africa Currency Board (EACB) in mid 1960s.
Following the promulgation of the new constitution on August 27th, 2010, the Central Bank of Kenya (CBK) is now established under Article 231 of the Constitution, 2010. Under this Article the Central Bank has the responsibility of formulating monetary policy, promoting price stability, issuing currency and performing any other functions conferred on it by an Act of Parliament.
The Constitution guides that “the Central Bank shall not be under the direction or control of any person or authority in the exercise of its powers or performance of its functions”.

JOB SUMMARY

Assist in the drafting of policies and guidelines for market conduct, Anti-Money Laundering (AML), Combating Financing of Terrorism (CFT) and Combating Proliferation Financing (CPF) for institutions licensed by CBK and conducting AML/CFT/CFP onsite examinations and offsite surveillance.Qualifications1. Bachelor’s Degree in Management, Economics, Insurance, Law, Finance or related discipline from a reputable university.2. Professional qualification(s) in Accounting, Law, Finance, Banking or related discipline is an added advantage.Work ExperienceAt least two (2) years post-qualification experience in Prudential/Bank Supervision, Financial Analysis, Auditing, Accounting, and Commercial Banking Operations.

RESPONSIBILITIES

1. Implement and enforce AML/CFT/CPF laws in the banking sector.2. Contribute as appropriate to the performance of other functions and to the overall achievement of the Bank’s strategic objectives.Technical and Operational Responsibilities1. Review of AML/CFT/CPF existing laws, regulations and prudential guidelines; and contribute to the development of new laws, regulations and guidelines for institutions licensed by CBK.2. Research on international best practices for effective AML/CFT/CPF supervision for the banking sector.3. Respond to queries on AML/CFT matters from both internal/external stakeholders.4. Assess AML/CFT/CPF compliance by all institutions with banking sector laws, regulations and guidelines.5. Undertake AML/CFT/CPF onsite examination/inspection and offsite surveillance of institutions licensed by CBK.6. Analyse periodic AML/CFT/CPF returns submitted to CBK by financial institutions.7. Prepare AML/CFT/CPF inspection manuals and operational plans.8. Conduct periodic reviews of ML/TF/PF risk assessments of financial institutions. and undertake sectoral ML/TF/PF risk assessments and periodic ML/TF/PF risk assessments of institutions.9. Implement the risk-based AML/CFT/CPF supervision framework unique to each institution; monitor its effectiveness by developing and updating institution profiles; plan and schedule supervisory activities.10. Process, analyse and make appropriate AML/CFT/CPF recommendations on applications for new products and vetting of senior managers and directors of banks.11. Initiate and draft Memorandum of Understanding for supervisory cooperation and information exchange with other national, regional and international regulators.12. Prepare AML/CFT/CPF status reports for ESAAMLG and FATF and participate in their activities.13. Liaise with the Financial Reporting Centre on AML/CFT/CPF matters14. Implement AML/CFT/CPF and Market Conduct related recommendations fromcollaborations with domestic and international financial regulators regional and international financial inclusion initiatives/organisations and development partners.15. Research on emerging challenges and market dynamism.16. Adherence to Bank policies, procedures, guidelines and relevant legislation.17. Undertake knowledge development to achieve high levels of performance.18. Any other assigned duties and responsibilities.

REQUIRED SKILLS

IT architecture, Tax management, Commercial law, Risk management

REQUIRED EDUCATION

Bachelor's degree