The Central Bank of Kenya is a public institution established under Article 231 of the Constitution of Kenya, 2010. The Bank is responsible for formulating monetary policy to achieve and maintain price stability and issuing currency. Pursuant to the CBK Act, the Central Bank promotes financial stability through regulation, supervision and licensing of financial institutions under its mandate. The Bank also provides oversight of payment, clearing and settlement systems. All these efforts are geared towards fostering liquidity, solvency and proper functioning of the financial system. The Bank also formulates and implements foreign exchange policy and manages foreign exchange reserves. CBK is the banker for, adviser to, and fiscal agent of the Government. In discharging its mandate, the Central Bank contributes to the country’s economic development and growth, and promotes the interest of the public. The Bank strives to carry out its statutory mandate effectively and efficiently guided by the principles of integrity and transparency.Job Purpose The Legal Counsel, Digital Payment Services role is responsible for the development and review of regulatory frameworks for institutions licensed by CBK and advising on regulatory compliance issues. This generally includes assisting in policy formulation and review, undertaking legislative development processes, contract review and offering day to day legal /regulatory advisory opinions on matters Banking and Payment Services. The role holder will provide advisory support to the Bank on new and emerging areas in the Banking & Payment Systems realm and hence will require close collaboration with various divisions and departments. He/She will also be responsible for working effectively as part of the team to deliver on the Key Result Areas and demonstrate competencies of his/her role. As head of legal function in the department, the role holder will work/consult periodically with the General Counsel on legislative, legal advisory matters as well as litigation related matters. Key Duties and Responsibilities Strategic Responsibilities Provide legal advice on emerging risks and innovations particularly in relation to Banking and Payment Services to enable the Bank to make strategic legal and compliance decisions. Advice on review and development of legal and regulatory frameworks for institutions licensed by CBK. Contribute as appropriate to the performance of other functions and to the overall achievement of the department’s and Bank’s strategic objectives. Technical and Operational Responsibilities Oversee the provision of legal and regulatory advice on various issues pertaining to functions of the department as may arise from time to time. Oversee the review of the legal and regulatory frameworks for payment service providers, payment system operators and payment systems generally. Oversee the review of the legal and regulatory frameworks that touch on banking generally. Provide timely and accurate legal opinions and advisory services to the various sections within the department on matters Banking and Payments. Monitor legislative activity and legal jurisprudence for regulatory and compliance changes that affect the bank in the short term and long term and advise on appropriate actions to be taken. Advise on market conduct and anti-money laundering issues and combating of financing of terrorism (AML/CFT) and oversee the development of the requisite legal and regulatory frameworks. Develop contract negotiation strategies and build capacity for contract negotiation Actively participate and consult with management in the initiation and development of internal policies of the Bank for effective realization of the Bank’s strategic plan. Review and provide input for advice to management on legal implications of internal policies and procedures. Initiate policy proposals, amendments to legislative frameworks on banking and payments, corporate and financial sector laws. Manage review and drafting of required legislation or legislative amendments and regulations (both local and regional). Participate and engage under the guidance of management with key external stakeholders in policy and legislative development initiatives that have a direct bearing on the functions and mandate of the Bank. Examine, analyse, interpret and respond to routine written requests for advice/ legal opinions or assistance on legislation that affects the operations of the Bank/Departments within the Bank and the implications. Conduct research that will aid in providing advice to the various sections on the interpretation and application of legislation within the established regulatory policy frameworks. Participate in domestic and international legislative initiatives. Assist in legal interpretation of Primary Statutes, Bills, judicial/tribunal decisions. Manage and coordinate implementation of the department’s strategic goals and initiatives through development of section work plan and overseeing the development, setting, implementation and evaluation of individual performance targets for staff under supervision. Supervise and manage tasks administered to subordinate staff within individual section. Other Responsibilities Participate in the formulation of key CBK strategic documents e.g CBK Strategic Plan, Banking Strategy as well as the National Payments Strategy Plan amongst others. Participate in ad hoc internal, external committees/working groups as may be assigned from time to time. Mentor, coach and mobilize the business teams to achieve division’s strategic goals and initiatives. Oversee training of new staff in the division on work procedures and internal policies to ensure effective client service. Supports the Director, Banking and Payment Services on day-to-day operational duties as and when required. Perform any other task as may be assigned from time to time. Qualifications Bachelor’s Degree in Law from a reputable university Diploma in Law from the Kenya School of Law Certificate of admission to the Roll of Advocates of the High Court of Kenya and a current practicing certificate. Membership to a professional body. Additional certification in law, banking, finance, economics, public policy, governance, management or similar fields is an added advantage. Master’s in Law is an added advantage. Work Experience Minimum eight (8) years’ post qualification experience with at least five (5) years in a Financial Sector Regulator with active/progressive experience on Banking and Payments.