Head of Payment Services Authorization and Approval
Job TypeFull Time
Experience10 years
Job FieldFinance / Accounting / Audit

Our client, The Central Bank of Kenya (CBK), is responsible for formulating monetary policy to achieve and maintain price stability. CBK also promotes financial stability; an effective and efficient payment, clearing and settlement system; formulates and implements foreign exchange policies; holds and manages foreign exchange reserves; issuing of currency; and is the banker for, adviser to and fiscal agent of the Government.

In line with its vision to be a World-Class Modern Central Bank reflected in its People, Systems and Processes, the Bank is looking to identify results driven, visionary, strategic thinking, experienced and a highly qualified leader with excellent credentials, proven experience, demonstrated capacity and know-how to fill the position of Head of Payment Services Authorization and Approval.

Reporting to the Deputy Director, Digital Payment Services, the Head of Payment Services Authorization will be responsible for the authorization process of new payment service providers and digital payments products as per National Payment System regulations and guidelines. The role holder will also be responsible for informing policy that guides the licensing framework of payment services/products and providers.

Key Responsibilities

Develop and coordinate implementation of the strategic objectives for the Payment Services Authorization function in line with the Departmental strategy and the Bank’s overall strategic objectives.
Review new payment service providers’ applications in line with the NPS Act and Regulations and recommend for approval.
Review and recommend for approval applications for renewal of authorization license, tariffs and the launch of any new product/service in line with the NPS Act and Regulations.
Review and recommend for approval the requisite documentation on all applications for the launch of any new payment product/service by existing payment service providers.
Develop and improve on the toolkits that support the authorization process and the standard operation procedures that guide various assessment factors including governance structure, risk assessment matrix, AML CFT, cyber risk and others.
Manage engagements with all applicants for new payment service provider authorization.
Continuously review and align the NPS Act and Regulations to modern practices in payments in line with world best practices and make recommendations for policy interventions to encourage financial innovation.
Work effectively as part of the team to deliver on the Key Result Areas.

Bachelor’s Degree in Economics, Banking, Accounting, Finance, Business Administration, Insurance, Law, Mathematics, Computer Science or a related field of study from a recognized institution.
A professional qualification in Banking, Accounting, Finance, Risk Management, or related field of study is an added advantage.
At least ten (10) years’ working experience in the Payments landscape in Banking, FinTech’s or Payment Service Providers with at least (5) years in a Senior Management level in an organization with similar scale and/or complexity.

If you believe you meet the role specifications and can clearly demonstrate your abilities for this role, please submit your application, including authentic certified copies of relevant academic and professional certificates and testimonials, your curriculum vitae, details of your current position, current remuneration, as well as email and telephone contacts of three (3) referees who can speak of your competence, character and integrity.

About Deloitte Consulting

Deloitte Consulting is a leading provider of innovative development solutions to U.S. and international donors, foundations, governments, and Fortune 500 companies. With member firm presence in more than 150 countries, we bring the power of a global firm and leverage our immense technical expertise and firm capabilities to bring integrated approaches to US Agency for International Development.