Chairperson at Central Bank of Kenya

Job Description

The Central Bank of Kenya is a public institution established under Article of the Constitution of Kenya, . The Bank is responsible for formulating monetary policy to achieve and maintain price stability and issuing currency. Pursuant to the CBK Act, the Central Bank promotes financial stability through regulation, supervision and licensing of financial institutions under its mandate. The Bank also provides oversight of payment, clearing and settlement systems. All these efforts are geared towards fostering liquidity, solvency and proper functioning of the financial system. The Bank also formulates and implements foreign exchange policy and manages foreign exchange reserves. CBK is the banker for, adviser to, and fiscal agent of the Government. In discharging its mandate, the Central Bank contributes to the country’s economic development and growth, and promotes the interest of the public. The Bank strives to carry out its statutory mandate effectively and efficiently guided by the principles of integrity and transparency.

ABOUT JOB

For appointment to the position of Chairperson Central Bank of Kenya, a person should:

be a citizen of Kenya; be a fit and proper person of recognized professional standing; have a Bachelors degree in any of the following fields: Economics, Banking, Finance or Law; have over ten years’ experience at senior management level in the field of economics, banking, finance, law, or other fields relevant to the functions ofthe Central Bank; have knowledge or experience in monetary, financial, banking, and economic matters or other disciplines relevant to the functions of the Central Bank; have undergone corporate governance training; and be a person of integrity and meet the requirements of Chapter Six of the Constitution of Kenya

BEHAVIORAL/GENERAL COMPETENCIES

leadership and people management including performance management; high level interpersonal and cross-cultural skills, including ability to build consensus, alliances, and collaborative relationships with sensitivity to diversity; organisational and administrative skills; oral and written communication skills- ability to communicate clearly, simply and in a structured manner; and to use communication tools appropriately and effectively; knowledge and ability to ensure good governance practices; strategic, result oriented and creative thinker able to make precise decisions; ability to make sound judgment; and excellent liaison and negotiation skills

DUTIES AND RESPONSIBILITIES

The Chairperson shall convene and chair the meetings of the Board which shall be responsible for:

determining the policy of the Bank, other than the formulation of monetary policy; determining the objectives of the Bank, including oversight for its financial management and strategy; keeping under constant review the performance of the Bank in carrying out its functions; keeping under constant review the performance of the Governor in discharging the responsibility of that office; keeping under constant review the performance of the Governor in ensuring that the Bank achieves its objectives; determining whether the policy statements made pursuant to section 4B are consistent with the Bank’s primary function and policy objectives under section 4; and keeping under constant review the use of the Bank’s resources

DISQUALIFICATION CRITERIA

No person shall be appointed as Chairperson of the Central Bank of Kenya if he/she is:

a Member of the Parliament or a Member of a County Assembly. a salaried employee of any public entity (except on a secondment basis). a director, officer, employee, partner in or shareholder of any specified bank or specified financial institution.

TERMS OF SERVICE

The Chairperson shall hold office for a term of four years, but shall be eligible for reappointment for one further term of four years. The Chairperson shall be paid by the Bank such allowances as may be determined from time to time.

INTERESTED APPLICANTS ARE REQUIRE TO NOTE THAT:

Serving public officers will be required to resign or be granted leave of absence if successful; The names of all applicants and those shortlisted shall be published in the print media and on the Commission’s website; Applicants should attach current and valid clearances from the following bodies: Kenya Revenue Authority;Higher Education Loans Board;A Registered Credit Reference Bureau;Directorate of Criminal Investigations ( Police Clearance Certificate);Printed Online Self-declaration Application Acknowledgement Receipt or a Selfdeclaration Form duly stamped for this Job Application by the Ethics and AntiCorruption Commission; andRecommendation from relevant professional bodies and associations (where applicable).