Summary
Date Posted: Friday, February 07 2025, Base Salary: Not Disclosed

JOB DETAILS:

Job Specifications
• This is a promotional grade, with the holder working under the supervision of the Deputy Director. A principal analyst may be deployed in any of the following seven (7) departments: Capital Markets, Green Finance & Carbon Markets, Fintech, Insurance & Banking, Private Equity & Venture Capital, Stakeholder Engagement and Services; Certification; or Monitoring & Quality Assurance.

Job Description
• The following are the duties and responsibilities for a principal analyst across the various departments:
Capital Markets Department
• Develop and implement policies that attract potential NIFC firms to invest in capital markets;
• Collaborate with foreign regulators to promote the listing of foreign securities on the Nairobi Securities Exchange to enhance cross-border markets;
• Support potential NIFC firms looking to list in Kenya on regulatory requirements, market entry, and raising of capital;
• Collaborate with regulators and policymakers to promote growth and innovation in the capital markets; and
• Review market trend analysis to recommend policies and decisions that enhance growth and opportunities within the NIFC.
Green Finance & Banking Department
• Develop and implement a framework that will attract green finance firms within the NIFC;
• Align the NIFC framework to globally accepted sustainability standards;
• Design the mechanism for green financing and building of a carbon credit exchange within the NIFC;
• Coordinate collaboration with relevant stakeholders in building a central marketplace for carbon credits to securitize carbon credits into digital tokens;
• Coordinate the development of a central marketplace for carbon credits to securitize carbon credits into digital tokens;
• Review incentives to support specific climate-related or environmental projects;
• Participate in regulators’ forums aimed at establishing mandatory sustainability reporting practices;
• Review documentation for collaboration with other regulators to establish a framework that will encourage local and international investors and financiers to finance green and sustainable projects;
• Spearhead the development of platforms to connect green investors with potential local projects;
• Collaborate with public and private sector institutions to develop a green taxonomy in Kenya, setting out projects that qualify as green to prevent greenwashing in the NIFC; and
• Review reports that set out policy recommendations, market development, and industry standards.
Fintech, Insurance & Banking Department
• Coordinate the development of infrastructure and incentives to attract fintech, insurance, and banking firms to the NIFC;
• Implement frameworks that support innovation within the fintech, insurance, and banking sectors, ensuring alignment with NIFC’s strategic objectives;
• Manage the operational setup of the Innovation Hub, including the regulatory sandbox, providing specialized support to startups seeking regulatory guidance;
• Collaborate with strategic partners locally and internationally, executing strategies to promote sector-wide innovation in fintech, insurance, and banking;
• Develop actionable plans for funding support to fintech, insurance, and banking innovators, working with stakeholders to secure financial resources;
• Ensure NIFC’s regulatory frameworks are regularly updated to reflect international trends, maintaining global competitiveness;
• Support initiatives that enhance cooperation across fintech, insurance, and banking sectors via non-mandatory regulation frameworks;
• Coordinate the development of platforms for collaboration and partnerships, facilitating the scaling of firms through infrastructure use;
• Coordinate with international regulators to facilitate seamless cross-border banking operations and lead initiatives promoting the expansion of these services;
• Guide efforts to support the digital transformation of traditional banking by integrating mobile banking, blockchain, and AI technologies;
• Coordinate projects that drive innovation in insurance services, including promoting digital platforms and Insurtech solutions;
• Work with global insurance firms to create incentives for them to establish operations at the NIFC;
• Promote sustainable banking and insurance solutions that align with international ESG standards; and
• Implement risk management strategies to mitigate financial risks such as currency fluctuations and cybersecurity threats.
Private Equity and Venture Capital
• Formulate and implement the framework for defending existing and growing new investment into the NIFC;
• Develop the controlled environment for private equities and venture capitals to test products and reduce time-to-market while potentially lowering costs;
• Review proposals of tax incentives that are designed to encourage investments into the NIFC;
• Develop frameworks for the identification of NIFC-qualified activities;
• Develop a framework for NIFC firms to offer cross-border investment services in regional markets; and
• Build a network with regional and global Private Equity and Venture Capital funds to facilitate access to capital for NIFC start-ups.
Stakeholder Engagement and Services Department
• Develop attractive programs for existing and emerging expat talent with knowledge in these areas;
• Develop and regularly update a database for all the service providers;
• Develop strategies that facilitate skills matching between service providers and local start-ups;
• Develop a framework for the engagement of service providers;
• Review recommended incentives that attract specialized professional services providers for financial services;
• Develop strategies and initiatives for capacity building of skills to improve the quality of human capital; and
• Provide support to professional service firms through legal and regulatory guidance to investors, financial service firms, and start-ups.
Certification Department
• Develop and regularly review the guidelines for certification;
• Review reports on applications based on the guidelines and the prescribed criteria for certification;
• Review the strategic fit examination of firms seeking certification;
• Coordinate due diligence and screening of firms seeking certification;
• Coordinate the development of a database of applications for certification and certified firms;
• Levy application fees, certification fees, and renewal fees; and
• Review and recommend renewal of certification for NIFC firms.
Monitoring & Quality Assurance Department
• Monitor compliance of firms to the conditions set in their certificates;
• Enforce laws, regulations, and rules that NIFC firms are required to comply with;
• Work with financial sector regulators to ensure that NIFC firms continue to meet their obligations, to ascertain their continued eligibility for the NIFC certificate;
• Recommend the withdrawal or suspension of an NIFC certificate and the imposition of other administrative penalties for breach of any rules, regulations, or directives;
• Coordinate the preparation, implementation, and monitoring of the Authority’s quality management system;
• Coordinate enterprise risk management in the Authority;
• Coordinate the development, implementation, and monitoring of management systems and ensure retention of certification of the same;
• Coordinate the implementation of business process re-engineering initiatives; and
• Collaborate with stakeholders on matters relating to tax incentives for firms certified at the Centre.

Person Specifications
For appointment to this grade, an officer must have:
• Bachelor’s degree in finance, economics, banking, accounting, business, law, actuarial science, statistics, mathematics, political science, or a related field, or any other relevant qualification from a recognized institution;
• Master’s degree in finance, economics, banking, accounting, business, law, actuarial science, statistics, mathematics, political science, or a related field, or any other relevant qualification from a recognized institution;
• Professional qualifications in finance, economics, banking, accounting, business, law, actuarial science, statistics, mathematics, political science where applicable;
• Member of a recognized professional body (e.g., ICIFA, CBI, ICPAK, LSK, ICS) or any other relevant professional body recognized in Kenya where applicable;
• At least eight (8) years of relevant work experience;
• At least three (3) years of experience in a supervisory role;
• Management course lasting not less than four (4) weeks from a recognized institution;
• Proficiency certificate in computer applications; and
• Fulfilled the requirements of Chapter Six (6) of the Constitution of Kenya.

Key Competencies and Skills
• Strategic financial insight;
• Leadership and mentorship;
• Complex problem-solving and innovation;
• Advanced stakeholder management;
• Risk analysis and mitigation;
• Interpersonal and communication skills;
• Report writing skills;
• Presentation skills; and
• Team player.
Work Hours: 8

Experience in Months: 36

Level of Education: Bachelor Degree

Job application procedure
Interested in applying for this job? Click here to submit your application now.

Applicants whose background and competencies match the above specifica8ons are invited to apply for the posi8ons by submiting a cover lerecruitment@nifca.go.ke addressed to:
Chief Executive Officer
Nairobi International Financial Centre Authority
The National Treasury Building
10th Floor, Room 1015
P. O Box 30007-00100

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