Job Purpose

The role holder supports the Debt Strategy and Portfolio Management Section in meeting its functional responsibilities effectively and efficiently. The role contributes to the performance of other functions and the overall achievement of the Bank’s strategic objectives while working collaboratively as part of a team to deliver on Key Result Areas and demonstrate the required competencies.

Key Duties and Responsibilities

Strategic Responsibilities

1. Support the CBK strategic plan by providing proposals and inputs to divisional policies and strategies that promote growth, stability, and access to financial markets.
2. Support public debt management and market development priorities, including Kenya Vision 2030 implementation under the Medium-Term Plans (MTPs), Public Debt Management Policies and Strategies, and the Capital Markets Master Plan (CMMP).
3. Coordinate Domestic Debt Strategy and Portfolio Management by making proposals and recommendations on domestic debt strategy development and implementation, borrowing programmes, and issuance programmes aligned with the PFMA, the Government’s fiscal framework, and the Medium-Term Debt Strategy (MTDS).

Managerial Responsibilities and Work Environment

• Plan, organize, integrate, supervise, and coordinate work, performance management, budgets, and resources related to the Debt Strategy Management function.
• Ensure accountability, authority, and effective supervision within the Debt Strategy Management function.
• Lead, appraise, and manage staff performance within the Division.
• Monitor, evaluate, and review work plans and performance management plans, including staff appraisals.
• Lead the development of staff training and capacity-building programmes.
• Guide the periodic update and review of operations manuals.
• Operate in a high-involvement work environment with demanding schedules, including extended working hours and strict timelines.

Technical and Operational Responsibilities

Debt Strategy

• Domestic Debt Programme and Market Development Strategy (DDPMDS): Assist in overseeing the design, development, review, and monitoring of the Domestic Debt Management Strategy during the financial year.
• Domestic Debt Programme (DDP): Assist in overseeing the design, development, review, and monitoring of the annual Government Borrowing Programme in line with National Treasury targets, cash requirements, maturities of Government securities, and appropriate instrument mix and issuance timing.
• Ensure regular updates of the Government Borrowing Programme (GBP) and preparation of related analysis and reports as guided by Management.
• Issuance Planning: Assist in overseeing the structuring of Government securities, including pricing considerations and preparation of monthly bond proposals for management approval and stakeholder discussions.
• Coordinate preparation of bond issuance proposals for monthly BMF meetings, incorporating stakeholder views and market development initiatives.
• Participate in Government securities auction meetings and provide justifications for auction proposals based on debt management objectives, prevailing market conditions, and market development goals.

Debt Portfolio Management

• Assist in managing the Government Treasury bills and bonds portfolio in line with debt management objectives, portfolio mix, risk considerations, costs, maturity profile, and portfolio valuation.
• Assist in coordinating preparation of technical reports, policy briefs, memos, speeches, and presentations on topical debt management and market issues for CBK Management.
• Support the Monetary Policy Committee (MPC) by contributing analytical debt market reports.

Complexity of the Role and Decision Making

• Contribute to complex judgements and recommendations affecting the department, the Bank, and the financial sector.
• Apply conceptual, analytical, evaluative, and interpretive thinking to develop constructive solutions.

Stakeholder Collaboration and Communication

• Maintain a high level of oral and written communication with CBK Management, stakeholders, and market participants, providing justified opinions, advice, and perspectives.
• Engage and negotiate with external stakeholders, including the National Treasury, government agencies, and international institutions such as the World Bank and IFC, in liaison with the National Treasury.
• Contribute inputs to the CBK Weekly Bulletin and other publications.
• Assist in coordinating responses to public and media enquiries on Government securities market issues.
• Participate in and report on meetings involving high-level delegations, including World Bank and IMF missions.
• Assist in overseeing participation in co-authoring publications such as the Annual Public Debt Management Report, Medium-Term Debt Strategy (MTDS), and Debt Sustainability Analysis (DSA).
• Assist in overseeing training of new staff within the Division on work procedures and Bank policies to ensure effective client service.
• Assist in approving staff requests for leave and other absences.
• Perform any other duties as assigned.

Qualifications

• Master’s degree in Business, Finance, Banking, Public Relations, or a relevant professional qualification is an added advantage.
• Bachelor’s Degree in Business, Finance, Banking, Public Relations, Communication, Marketing, Information Science, or a related field.
• Membership to a relevant professional body is an added advantage.
• Clear understanding of financial markets, banking, and emerging issues in national, regional, and international regulatory requirements, domestic debt strategies, domestic debt portfolio management, domestic debt markets, and risk management.

Work Experience

• At least eight (8) years’ relevant work experience, with a minimum of three (3) years in a managerial role.