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Job Description

Somali Bankers Association (SBA)



LOCATION: SBA Office Mogadishu


Deadline Date: October 30, 2020

Ref No. SBA/CEOjob02I/2020

Duration: 6 months’ probation period from the start date

Selection Criteria: The selection shall be based on academic qualification, professional experience and skills of the candidate. The qualifications, experience and competencies include:

Master’s Degree in Economics or law with minimum 7 years’ experience. Alternatively, Minimum bachelors level degree in Banking, Finance or business Management and 10-year experience in related work is required as well as experience in Somalia/fragile country context with strong technical leadership in Somali private sector or financial sector environment; Furthermore, analytical skills, ability to write crisp and concise technical and management reports, excellent office and people management experience are must-have skills for this position.

Background: The Somali Bankers Association (SBA) is a non-profit association of the Somali banking institutions. It was registered as a financial industry association on 1st July 2016 with the aim of providing a platform for cooperation and collaboration to serve the Somalia banking Industry. The main goal of the association is to lobby for the interest of the member banks in negotiating terms and

conditions of service and standardizing management practices to ensure harmony in the Industry’s

strives to support the national recovery and state-building efforts by contributing to the development and adoption of sound regulations for the sector. It is among the core functions of the association to advocate and promote industry development and economic growth in general by engaging the government and sector regulator, Central Bank of Somalia (CBS).

As the umbrella body of the commercial banks licensed under the Banking Act, with a current membership of 9 banks, SBA has endeavored to reinforce a reputable and professional banking sector in a bid to improve the financial and banking services offered to the consumers, who entrust their ambitions and hard-earned resources with its member banks. SBA works with its member banks to ensure that they become a part of the global leaders in financial services. This is done by putting the needs of customers first and making Somalia the safest and most transparent place to do business. SBA works at all levels with policy makers, regulators, other industry bodies, customers, and the media, as well as a range of sectors such as retail, telecoms and law enforcement. All this on behalf of the

common citizen to promote, communicate and collaborate on industry developments and enhance the industry’s reputation

The Chief Executive Officer (CEO), reports to the Board of Directors and will be responsible for the overall strategic and operational performance of the SBA and the achievements of the Associations agenda. The CEO’s responsibility also extends to the effective management of the SBA in fulfillment of the declared aims and the objectives within the policy laid down by the SBA Board.

Key Responsibilities: The Chief Executive Officer is invested with broad responsibilities and authority as per SBA Governance policy and Operational manuals.

Major responsibilities include: Strategic leadership of SBA as per the Board’s approval of the Association Policies and Governance, Financial Management, Strategic Planning, Strategic Thinking, Leadership and Direction, Executive Leadership and People Management. Strategic leadership of SBA as per Boards Approval of Association and Policies and provides strategic advice to the Board of Directors. Develops, for the Board’s approval, strategic direction and positioning to ensure SBA success. Actively lead and influence the implementation and achievement of the current and future strategic and operational plans as per the approved Association Plan. In addition to the above, the CEO is expected to:

Work in partnership with the Board to ensure ongoing strategic forward-thinking that forms the strategic and operational goals and leveraging wherever possible, technological solutions Represent SBA in the appropriate national and international forums as required

Manage SBA office, staff, assets and budget

Report periodically (e.g. quarterly) to the SBA BOD. In addition to the narrative report, a financial report is also a requirement

In close collaboration with the Chairman of SBA, prepare periodic meetings (e.g. on monthly basis) of the SBA BOD

Ensure smooth information sharing within the SBA members and BOD (e.g. meeting minutes, conference reports, studies, etc.)

Ensure integrity and courage in the provision of consistently robust advice to the Board and other stakeholders as necessary  support and promote policies and initiatives that balance both the interest of banks, and the wider Somalia public for local, national and international and setting up banking culture and capacity building to create professional staff and bankers  Support  developing of industry (banking) codes and standards

including standardized KYC and verifiable client on boarding process, while protecting their personal data Setting up prudential and financial banking system framework in collaboration with central bank of Somalia, financial intelligence unit, government departments (i.e finance ministry), private sectors and world Bank Advocating SBA member banks’ participation in development and rebuilding critical infrastructure, government projects and external institutions. Work with member banks on implementing reforms to address conduct and cultural issues. These include enhanced protections for whistle-blowers and potential changes to how banks pay their staff, to ensure that customer interests are put first in the selling of products and services, and that remuneration practices align with customer outcomes. Develop of the Code of Banking Practice and a number of other industry standards and guidelines which ensure best practice across the Somali banking industry. This includes issues such as access to electronic banking, security and authentication practices, access to financial hardship assistance, protection for customers from financial abuse, and promoting financial literacy for local customers respond the Federal Government’s Financial System Inquiry, international developments on bank capital, liquidity and other regulations, and working with Government and other stakeholders to ensure a safe and sound, efficient and competitive banking and financial system. Engage with political and regulatory stakeholders to improve their knowledge and understanding of the international nature of the banking/financial sector and support the Somalia to become a member of global financial system. And promote effective financial crime risk management by focusing on improving customer due diligence, strengthening financial crime compliance capabilities and enhancing financial intelligence capabilities in the light of heightened national and international regulatory focus to deter, detect and protect financial crime. work with Government to improve the external dispute resolution system so that if customers are not satisfied with their bank’s response to a complaint, they can get a fair independent hearing and there is no confusion who to contact. work with the Government and other stakeholders to ensure that changes to banking industry conduct and disclosure laws enhance the accessibility of banking and financial products and services, as well as promote consumer protection for banks’ retail and business customers. Specific policy areas include streamlining disclosures, professionalizing financial advice, creating retail banking, simplifying customer identification and protecting customers’ personal and financial information. Organize training and development for financial literacy by setting up a learning platform for financial understanding aimed at helping all Somalia’s gain confident to make decisions regarding their money today and into the future.

Deadline for submission: Interested candidates should send their CV, and cover letter plus at least three professional referees to the email address below Chairman@sba.so by no later than October 30, 2020 at 3.00 p.m. East Africa Time.

Subject: Application for the position of the SBA CEO

Attention to: Chairman of the Somali bankers Association

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