KDIC is a statutory institution established under the Kenya Deposit Insurance Act, 2012 (KDI Act, 2012). The Corporation is mandated to provide a deposit insurance scheme for customers of member institutions, to provide incentives for sound risk management and generally promote the stability of the financial system and prompt resolution.
Department: Resolution
KDIC Grade: KDIC 4
You will oversee day to day management of Banks / financial institutions in liquidation through loan recoveries, realization of assets held and making payments to depositors and creditors in a timely and efficient manner; ensuring orderly winding up of non-viable Banks / financial institutions to enhance depositors’ confidence in the financial sector.
Key Responsibilities Managerial and Supervisory Responsibilities
- Participating in formulation and implementing strategies for Institutions in Liquidation
- Supervising development and implementation policies, procedures and other operational guidelines for efficient and effective liquidation and winding up of banks/financial institutions in liquidation
- Supervising the tracing, preservation and realization of the assets of the financial institutions in liquidation
- Supervising preparation of periodic reports to apprise all stakeholders on the progress made in resolving the banks/ financial institutions in liquidation for eventual winding up
- Negotiating with debtors, preparing proposals for approval by the management and the board of directors of the negotiated settlement amounts and following up with the debtors for payments of the negotiated amounts in order increase depositors and creditors recovery rate
- Ensuring loan write off proposals are accurately and timely prepared for presentation to the Board of Directors for approval in preparation for winding up of non-viable financial institutions
- Supervising the implementation of alternative dispute resolution mechanisms to increase recovery from debtors of the institutions in liquidation and save on collection costs
- Ensuring safety and custody of records, data and related ICT assets for assigned banks/financial institutions in liquidation
- Supervising verification, acceptance and payments of depositors’ and creditors’ claims in accordance with KDI ACT 2012
- Supervising validation, update and reconciliation of accounts for depositors, debtors and creditors of institutions in liquidation
- Ensuring recovery of assets of the financial institutions in liquidation from indicted parties
- Supervising the successful implementation of Performance Management System
- Providing coaching and mentorship for direct and indirect reports.
Operational Responsibilities
- Custodian of title documents for all securities held by institutions in liquidation
- Following up with Borrowers/ debtors for timely loan repayments and ensuring the payments details are properly captured in the operating system
- Facilitating release of securities of fully paid-up loans
- Supervising reconciliation of all internal accounts, physical assets and securities held
- Ensuring completeness of proposals submitted debtors for negotiated settlement, following up on the approval and timely provision of feedback to the debtors/ borrowers
- Supervising management of requests for information, compliments and complaints for institutions in liquidation to ensure compliance with customer service charter
- Maintaining records of the disposed physical assets owned by Institutions in liquidation
- Reviewing investment proposals on surplus cash available for investment by institutions in liquidation to ensure that both liquidity and return objectives are realized in line with the investment policy guidelines
- Supervising development and implementation of Enterprise Risk Management and Business Continuity Plan for the department
- Supervising implementation of Board action points for the assigned banks/ financial institutions in liquidation
- Responding and supervising implementation of internal and external audit recommendations for institutions in liquidation
- Supervising the engagements of different service providers as per the existing contracts to ensure operational efficiency and cost minimization
- Ensuring filing of statutory returns and compliance with the set deadlines
- Coordinating validation of data relating to depositors, debtors and creditors of the Institutions in liquidation
- Providing the information required by the board approve to wind up of identified non-viable institutions and reviewing the prepared winding up check list for completeness
- Following up with engaged service providers to ensure the winding up process of the identified institutions is undertaken in compliance with the relevant statutory guidelines
- Ensuring the approved leave plan is adhered to; Implementing change management and business process re- engineering initiatives within the department.
Job Competencies
Academic Qualifications
- Bachelor’s degree in any of the following disciplines: Commerce, Finance, Economics, Business Administration its relevant qualification from a recognized institution.
- A Master’s degree in any of the following disciplines: Commerce, Finance, Economics, Business Administration from a recognized institution would be an added advantage.
Professional Qualifications and Memberships
- Membership of a recognized professional body.
- A Certificate in Leadership from a recognized Institution would be an added advantage.
Previous Work Experience
Six (6) years’ relevant work experience with at least three (3) years in Management preferably in Banking, Financial Management Credit Administration, Conveyancing, Litigation, Asset Management & Tracing or Insolvency.
Functional Competencies
- Leadership skills
- Communication skills
- Analytical skills
- Negotiation skills
- Problem solving skills
- Proficiency in computer application skills
- Interpersonal skills
- People Management skills
- Presentation skills
- Decision making skills
- Report writing skills
- Budgeting skills
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