The role holder reports to the Head of Section, Payment Services Authorization and Approvals, and assists the team in the review and analysis of applications by Virtual Asset Service Providers (VASPs) to ensure compliance with the VASPs Act and Regulations.

Technical and Operational Responsibilities
1. Review VASP applications in line with the VASP Act and Regulations and make recommendations to the Section Head.
2. Make recommendations for policy interventions to encourage financial innovations.
3. Analysis of applications and the requisite licensing documents for new VASPs.
4. Processing of application for approval of New products/ Company names for new VASPs.
5. Review and recommend for approval any new VASP products/service for licensed VASPs.
6. Correspond with applicants for new VASPs vider on licensing requirements and other related queries.
7. Organize and document meetings with prospective new VASPs for regulatory guidance.
8. Assist in updating new products applicants’ log.

Other Responsibilities
1. Coordinate knowledge exchange programmes.
2. Participate in stakeholder forums on payment systems and innovations.
3. Any other roles and responsibilities that may be assigned from time to time.

1. Bachelor’s Degree in a relevant field e.g. Economics, Law, Statistics, Computer Science or Business.
2. Professional qualifications and memberships are an added advantage.

At least three (3) years’ work experience in Payments & Banking Operations, Financial Services, Economics, Accounting or similar operations.

Technical Competencies
1. Good understanding of VASPs and VASP related activities.
2. Good understanding of Digital Finance and Financial Innovations.
3. Good understanding of payment risks and security.
4. Good understanding of the Principles for Financials Market Infrastructures (PFMI).
5. Good Understanding of the VASP Act and VASP Regulations.
6. Accounting and financial management skills.
7. Sound knowledge and experience in the operating frameworks for CBK including Monetary policy framework and implementation methods.
8. Risk Management-experience in identifying departmental risks, implementing mitigating measures and monitoring mechanisms.
9. Analytical –highly analytical and ability to challenge status quo based on quantitative facts and impacts.
10. Good understanding of internationally accepted best practices for payment system operations.
11. Knowledge of the payment or banking industry on issues related to:
a. Card payments
b. Retail payment innovation and security
c. P2P Switch providers
d. Mobile payments
12. Good understanding of internationally accepted best practices for effective oversight of payment systems.
13. Knowledge of Banking laws & regulations.
14. Strong IT and computer skills.
15. System performance monitoring.
16. AML, KYC and other laws.
Behavioral / General Competencies
1. Ability to work collaboratively in a team.
2. Decision making.
3. Professionalism.
4. Communication.
5. Customer orientation.
6. Integrity and honesty and ethics.
7. Resilience.
8. Mentoring and coaching.
9. Ability to drive change.
10. Building consensus and influencing.
11. Emotional Intelligence.
12. Independence and objectivity.

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