The role holder is responsible for implementing and overseeing the supervisory framework for licensed Virtual Asset Service Providers (VASPs). This includes conducting risk-based supervision, monitoring compliance, investigating potential breaches including contributing to policy development. The position holder is responsible for assessment of the implementation of prudential and market conduct activities of VASPs to promote safety and stability of the national payment system.

Technical and Operational Responsibilities
1. Conduct ongoing, risk-based supervision of licensed VASPs.
2. Perform comprehensive compliance reviews and on-site/offsite examinations of VASPs’ operations, focusing on AML/CFT/CPF, consumer protection, cyber security, and operational resilience.
3. Monitor adherence to licensing conditions, including capital adequacy, governance, and general compliance with the VASP law, including other relevant laws.
4. Investigate potential instances of non-compliance, market abuse or unlicensed VASP activities.
5. Recommend and oversee corrective actions, sanctions, or enforcement actions in line with the provisions of VASP laws.
6. Serve as the main supervisory contact for assigned VASPs including guidance on regulatory expectations.
7. Maintain a current understanding of emerging risks, trends, and typologies in the virtual asset space.
8. Prepare detailed reports and briefings on management on the status, risks, and overall health of the regulated VASP sector.
9. Contributes to the development and revision of polices, laws, regulations, circulars, and supervisory frameworks related to market conduct and consumer protection in the payments sector.
10. Engage with VASPs to communicate regulatory expectations and provide guidance on market conduct-related matters.
11. Collaborating with other departments within the CBK and regulators on VASP activities and information sharing.

Other Responsibilities
Performing any other duties assigned by Section Head

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

At least six (6) years’ experience working in payment systems oversight or compliance specialist or other similar functional area roles, with at least two (2) years in a supervisory capacity. Experience in supervision of market conduct or handling consumer protection responsibilities is an added advantage .

Technical Competencies
1. In-depth knowledge of the VASPs industry on issues related to:
i. VASP wallet providers
ii. VASP innovation and security
iii. Stablecoins issuance, permissible activities
2. Practical knowledge of AML/CFT regulations, the FATF recommendations and their application to VASPs
3. Proven experience in conducting compliance reviews, risk assessments, or audits.
4. Strong understanding of emerging technologies, virtual asset types, and the broader virtual asset eco system
5. Knowledge of VASP and Payment laws & regulations such as the National Payment System and other relevant laws.
6. Knowledge of financial reporting requirements and standards.
7. Analytical skills and creative thinking skills.
8. Communication skills both written and verbal.
9. Security and cyber risks.
10. System performance monitoring.

Behavioural/ General Competencies
1. Ability to work collaboratively in a team.
2. Decision making.
3. Professionalism.
4. Communication.
5. Customer orientation.
6. Integrity, 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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