The Central Bank of Kenya (Mortgage Refinance Companies) Regulations, 2019

20. Responsibilities of the chief executive officer

Edition: 2022-12-31 · In force

The chief executive officer shall undertake the following key responsibilities—

(a)implement the policies developed by the board;

(b)identify and recommend to the board competent officers to manage the operations of the institution;

(c)co-ordinate the operations of the various departments within the institution;

(d)establish and maintain efficient and adequate internal control systems;

(e)design and implement the necessary management information systems to facilitate efficient and effective communication within the institution; and

(f)frequently apprise the board on the operations of the institution including—

(i)the actual performance compared with the past performance and the budget together with explanations of all the variances;

(ii)the capital structure and adequacy;

(iii)the performance of advances including problem loans, losses, recoveries and provisions;

(iv)the income and expenses;

(v)the sources of funding and distribution profile;

(vi)all insider transactions that benefit directly or indirectly any officer or shareholder of the institution;

(vii)any violation of laws and remedial activities undertaken to ensure compliance with the banking laws and Bank guidelines;

(viii)large exposures;

(ix)non-performing insider loans;

(x)reports on the activities of the committees of the board;

(xi)reports from the Bank, external and internal audit reports;

(xii)any other area relevant to the institution's operations;

(g)ensure that the institution complies with all the relevant banking and other applicable laws in the execution of its operations; and

(h)any other duties as may be assigned by the board from time to time.