Deputy Manager, Virtual Asset Service Provider Oversight and Compliance

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

Qualifications1. Bachelor’s Degree in a relevant field e.g. Economics, Law, Computer Science or Business Administration.2. Professional qualifications and membership are an added advantage.Work ExperienceAt least six (6) years’ experience working in payment systems oversight or compliance specialist or other similar functional area roles, with at least two (2) years in a supervisory capacity. Experience in supervision of market conduct or handling consumer protection responsibilities is an added advantage .

RESPONSIBILITIES

Technical and Operational Responsibilities1. Conduct ongoing, risk-based supervision of licensed VASPs.2. Perform comprehensive compliance reviews and on-site/offsite examinations of VASPs’ operations, focusing on AML/CFT/CPF, consumer protection, cyber security, and operational resilience.3. Monitor adherence to licensing conditions, including capital adequacy, governance, and general compliance with the VASP law, including other relevant laws.4. Investigate potential instances of non-compliance, market abuse or unlicensed VASP activities.5. Recommend and oversee corrective actions, sanctions, or enforcement actions in line with the provisions of VASP laws.6. Serve as the main supervisory contact for assigned VASPs including guidance on regulatory expectations.7. Maintain a current understanding of emerging risks, trends, and typologies in the virtual asset space.8. Prepare detailed reports and briefings on management on the status, risks, and overall health of the regulated VASP sector.9. Contributes to the development and revision of polices, laws, regulations, circulars, and supervisory frameworks related to market conduct and consumer protection in the payments sector.10. Engage with VASPs to communicate regulatory expectations and provide guidance on market conduct-related matters.11. Collaborating with other departments within the CBK and regulators on VASP activities and information sharing.Other ResponsibilitiesPerforming any other duties assigned by Section Head

REQUIRED SKILLS

Budgeting, financial planning, Reporting, Compliance, Fraud risk assessment and management

REQUIRED EDUCATION

Bachelor's degree