The Kenya Power & Lighting Company Limited, Staff Retirement Benefits Scheme 2006 (“the Scheme”) was established on 1 July 2006, following the closure of the Defined Benefits (DB) Scheme on 30th June 2006. As a Defined Contributions Scheme, the Scheme is managed by a Board of Trustees whose membership is divided equally between Sponsor nominated Trustees and Member nominated Trustees. The administrative functions of the Scheme are undertaken by the Secretariat of the Defined Benefits Scheme in an arrangement whereby the DC Scheme pays an administrative fee to the DB Scheme. The Scheme was established by the Sponsor with the main objective being to provide benefits to employees (members) upon retirement or to their dependents in the event of death in service.
The Board of Trustees of Kenya Power Pension Fund intends to recruit a qualified professional to the position of Chief Executive Officer/Trust Secretary.
The Pension Fund mandate is to provide benefits and pension for all permanent and pensionable employees of Kenya Power and Lighting Company plc, Kenya Electricity Transmission Company Limited and Nuclear Power and Energy Agency while focusing on the investment of the Fund’s assets that will ensure the preservation of capital and diversification of investment portfolio to minimize associated risks across asset classes, sectors and stocks.
The job holder will report to the Board of Trustees and be responsible for managing the Pension Fund on behalf of the Trustees, supporting the Board in driving strategy and policy changes, and leading the executive team on a day-to-day basis to deliver services in accordance with set targets.
Key Responsibilities:
- Providing leadership in the conceptualization, development and implementation of strategic plans covering pension administration, investments and change management;
- Establishing, directing and managing the Fund’s managerial, financial and operational systems and procedures to ensure that they are professional, workable and sustainable so as to enhance value;
- Keeping abreast of local and global trends and advising the Trustees on the impact and way forward;
- Ensuring attainment of the relevant key performance indicators (KPIs) in the strategic plan, including adherence to budgets (income and costs where appropriate);
- Establishing and assuring proper internal controls;
- Leading and fostering a conducive corporate culture that promotes strong ethical practices, and good corporate governance;
- Overseeing provision of effective and accurate communication to the members in a timely manner;
- Serving as the Secretary to the Board;
- Accountable for performance of all service providers;
- Managing relationships and networking with local and global business partners and stakeholders;
- Serving as an accounting officer in overseeing all procurement of goods & services and works as per the Public Procurement and Asset Disposal Act.
- Nurturing the organization’s human resource and ensure appropriate management structures and policies are developed and implemented within the fund for sustainable growth;
- Any other responsibilities as the Board may determine from time to time.
PROFILE
Academic Qualifications
- Master’s Degree in Strategic Management, Business Administration, Finance, Economics or any other relevant field from a recognized institution.
- Bachelor’s degree in Business, Economics, Law, Social Science, Human Resource, Actuarial Science, Insurance, Finance, Accounting or any other relevant field from a recognized institution.
Professional Qualifications
- Professional qualification(s) shall be an added advantage.
Experience
- A minimum of twelve (12) years’ work experience in a relevant field with at least six (6) years in management position
- Knowledge and understanding in the following areas:
- Legal & regulatory framework governing the Kenyan pension industry
- Liability matching investment strategies
- Actuarial methods and assumptions
- Real Estate Investments
- Finance
- Risk Management
- Experience in managing a pension fund or organization in a related industry.
- Understanding of the interplay between funding and investment.
- Prior experience in managing a functional level in a large organization /busy environment.
- Proven track record in managing projects;
- Significant experience in oil and gas sector or commodity markets;
- Well-grounded understanding of corporate governance;
- Proven track record on development and implementation of turnaround strategies; and
- Knowledge of Public Procurement Laws and Regulations.
- Excellent organizational, analytical and coordination skills;
- Effective stewardship to serve and safeguard members’ assets;
- Professionalism and integrity;
- Efficiency and drive for results.
Key Competencies
- Ability to manage people, operations and financial resources;
- Strategic thinker with good commercial acumen;
- Ability to lead, influence and drive change initiatives in support of business strategies;
- Ability to communicate complex information effectively;
- Risk awareness and focus;
- Project management skills;
- Excellent interpersonal, management and communication skills;
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