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: Investigations
Directorate: Resolution
KDIC Grade: KDIC 7
You will carry out daily operations as per the established policies and procedures geared towards tracing and preserving of fraudulently acquired assets from the funds of a troubled institutions either in receivership or liquidation to ensure maximum recovery for the benefit of depositors and creditors.
Key Responsibilities
Operational Responsibilities
- Visiting the relevant government ministries and other agencies to place caveats and restrictions on assets whose ownership is in dispute between a troubled financial institution and a borrower/ debtor of the Institution;
- Liaising with motor vehicle registration agency to aid in tracing motor vehicles offered as securities to the bank/ financial institution in receivership/ liquidation;
- Site visits to confirm actual existence and status of the preserved/ restricted assets in the interest of depositors and creditors;
- Undertaking investigations to lift the corporate veil and identify individual parties responsible for bank failures for effective prosecution;
- Undertaking periodic investigations from relevant government agencies to confirm the status of preserved assets and take remedial action where the preservation mainly caveats and restrictions has been illegally interfered with;
- In liaison with the government security agencies and other private security providers ensure the value of the assets traced and preserved is maintained;
- Conducting searches in lands registry offices to confirm ownership of title documents held as securities by banks/financial Institutions in receivership and liquidation;
- Preparing a status report at regular intervals on all assets successfully traced and preserved and the recovery progress made;
- Skip tracing of debtors / borrowers belonging to banks/ financial institutions whose identity and whereabout is unknown and making recommendations on the best recovery method based on the findings;
- Compiling information required by Bank Fraud Investigation department to support non- conviction-based recovery; and
- Attending assigned court cases to give testimony on behalf of the troubled financial institutions for matters investigated by the department.
Job Competencies
Academic qualifications
- Bachelor’s degree in any of the following disciplines: Commerce, Finance, Economics
- Business Administration or its relevant qualification from a recognized institution
- Certification in fraud examination would be an added advantage.
Work experience
Two years’ (2) relevant experience preferably in Banking Fraud investigations, Forensic examination and Audit.
Functional Attributes
- Investigation skills
- Communication skills
- Analytical skills
- Problem solving skills
- Proficiency in computer application skills
- Interpersonal skills
- Presentation skills
- Report writing skills
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