The Banking Services Back Office Division at the Central Bank of Kenya provides effective and efficient banking services to commercial banks, the National & County Governments, and other public entities. This role ensures effective fiscal operations and supports monetary policy implementation by managing accounts for National & County Governments and financial institutions, specifically focusing on opening and operationalizing these accounts.
Key Duties and Responsibilities
Strategic Responsibilities
Contribute as appropriate to the performance of the function and the overall achievement of the Bank’s strategic objectives.
Technical and Operational Responsibilities
Account Management: Input or provide first-level approval for the creation of customers in the banking system; handle opening, amending, and closing accounts managed by the Banking Division.
Customer Service: Respond to all account queries and resolve complaints from customers, making decisions in marginal risk situations.
Government Operations: Manage Exchequer releases from National Treasury for funding National and County Governments; process County Revenue Fund (CRF) funds transfer instructions.
Tax and Revenue Processing: Execute Kenya Revenue Authority (KRA) agency notices and process funds transfer instructions from KRA, County Governments, and Government entities.
Reporting and Monitoring: Prepare or review daily Standing Orders reports; monitor daily KRA & Government accounts; check Management Reports (M2 & Desk Memo) for correctness.
Interest and Overdraft Management: Amend interest rates on Government Overdraft based on CBR changes; update Government Overdraft limits and prepare utilization reports.
Audit and Compliance: Prepare Certificate of Balances for external auditors; audit cashiers’ tills; implement audit recommendations and comply with all operational, security, and control policies to prevent fraud.
Systems and Planning: Provide input for system requirements; participate in system testing; assist in preparing the Banking Strategic Plan and yearly budgets for the Accounts Management Section.
Qualifications and Experience
Education: Bachelor’s degree in Economics, Banking, Accounting, Finance, Business Administration, Mathematics, Computer Science, or a related field of study.
Professional Qualifications: Qualification in Banking, Accounting, Finance, Risk Management, or a related field is an added advantage.
Experience: At least two (2) years’ work experience in Banking Operations, Financial Services, Economics, Accounting, or similar operations.
