Prudential Officer (DO NOT APPLY)

Applications are invited from suitable and qualifying candidates to fill the two (2) Prudential Officer positions that exists within the Bank Supervision Division under the Financial Regulation Department.

To ensure the safety and soundness of the financial sector, by regulating and supervising the operations of banks and other financial institutions, promotion of sound risk management, corporate governance practices, adoption of International best practices on financial sector regulations and supervision in line with the Central Bank’s mandate and vision.

• Develop, maintain and analyze institutional profiles, risk assessments and scope memoranda for the allocated banks, building society and other financial institutions in order to understand the risk profiles of the institutions necessary for planning and deploying supervisory resources in line with the Risk Based supervisory approach Recommend and conduct on-site supervision on a regular basis.
• Analyse financial and non-financial information from banks received through the Bank Supervision Application system (BSA).
• Perform assigned specific tasks during examination related to Capital Adequacy Asset Quality Management Earnings Liquidity Sensitivity (CAMELS) methodology and Risk Assessment System (RAS) components.
• Review and analyse banks’ Expected Credit Loss models/methodologies (IFRS9) and loan-loss provisioning.
• Conduct quarterly stress tests for banks to assess potential vulnerability in the banking sector due to the changing market conditions and communicate any results for banks management action.
• Conduct the Supervisory Review & Evaluation Process (SREP) and Internal Capital Adequacy Assessment Process (ICAAP) on annual basis.
• Investigate and sensitise the public on the operations of pyramid schemes, illegal deposit taking and the closing of such to work in the best interest of the public.
• Prepare appropriate draft responses to operational correspondence with banks to ensure consistent communication of the Central Bank’s decisions and/or approval.
• Review applications for renewal of banking licenses.
• Provide support and guidance to institutions not meeting the licensing requirements.

• Bachelor’s degree with majors in Accounting, Economics, Statistics, Data Science and Actuarial Science or equivalent.
• Two (2) years’ experience working in the financial industry, or financial risk management.

• Good analytical, presentation and Report writing skills.
• Basic understanding of the FIA, 2005 and other financial industry applicable legislation.
• Basic understanding of the IFRS/ IAS.
• Basic appreciation of Basel Core Principles for Effective Banking Supervision.
• Strong foundational knowledge of Python and/or R.
• Proficiency in SQL for data extraction and manipulation.
• Familiarity with data visualization tools like Power BI or Tableau.

The bank offers a competitive remuneration package, commentative with value add and qualifications.

Please note that shortlisted candidates will be contacted. Should an incumbent not hear from the Bank within two weeks of the closing date of this communication, please consider the application unsuccessful.