Technical Advisor, Currency Management and Development, Nairobi

Closing Date: Thursday, 10 June 2010

Location :	Nairobi, KENYA
Application Deadline :	10-Jun-10
Additional Category	Management
Type of Contract :	SSA
Languages Required :	English
Starting Date : (date when the selected canditate is expected to start)	01-Jul-2010
Expected Duration of Assignment :	8 Months
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Background
The Central Bank of Kenya (CBK) is a pivotal institution in the actualization of the Vision 2030, a concept that will take Kenya to the next level of being a developing country. In pursuit of this vision, CBK is embracing strategies that will strengthen key functions of the Bank in order to actualize its mandate. Nevertheless, the Bank has limited technical capacity in core areas like Research, Financial Market Development and Currency Operations.The Bank therefore aims at developing its own in-house capacity in these strategic and core areas. It is in this regard that the Bank requested technical assistance from the European Commission (EC) and UNDP to strengthen its currency Operations and Branch Administration Department.The technical assistance will be in form of an Adviser on matters related to currency operations development and management.The Technical Advisor is expected to liaise with Director of the Department in building capacity and also provide input in all areas of currency operations development and management including regular updates on international best practice. Duties and Responsibilities Strengthening and developing the analytical capacity of the Currency Operations and Branch Administration Department. Harmonize and strengthen operational structures for currency operations including review of existing currency distribution networks. Designing a training program consisting of theoretical and applied seminars. The role of the Advisor would be to identify and organize appropriate training including on the job training, seminars, study tours and internship outside the Bank geared towards harnessing the latest techniques in currency management and development. Scope of work: Formulate sound currency policies consistent with best international practice. Guide implementation of currency reforms including an effective “clean money policy”, currency distribution networks, linkage with commercial banks and process automation. Design development and long term co-ordination strategies for public education mechanisms of banknotes and coins. Review of the legal operational framework for the currency management function in Kenya. Strengthen capacity for accurate currency management forecasts Review currency distribution channels and generate options for suitable models. Recommend options for modernizing currency operations, choice of appropriate technologies in currency sorting, packaging, accounting and destruction. Create awareness of a bank-wide operational risk culture on identification, measurement and management of operational risks in currency management and continuously assess the legal risks associated with possible policy initiatives. Advise on standards for currency development. Promote capacity building and frontier initiatives on issues of currency design, development and sustenance including currency management systems and techniques. Review the security levels of Kenyan currency including development of a sustainable currency counterfeit tracking mechanism. The outputs of this assignment shall include: - Preparation of various documents e.g. Work Plans, Training Needs Assessment Reports, Legal reviews, medium to long term implementation programs, Inception and Visibility Plans. Concepts for modernization of currency operations including but not limited to choice of appropriate technologies in currency sorting, packaging, accounting and destruction. An agreed timetable for a three-year training program, including seminars, internships and study tours within two months after signature of the contract.for the purpose of longer-term capacity building Competencies The Consultant contracted for this assignment should be knowledgeable in currency forecasting and market interaction and be current to innovations and technological advances in currency development and banking operations. Required Skills and Experience An advanced degree in Economics, Banking or Finance or related fields. A PhD degree will be an added advantage. A minimum of eight (8) years’ relevant experience in financial markets operations, banking and currency management and development backed by professional qualifications. UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence. Refer a Friend Apply Now