Summary
Overview
Work History
Education
Skills
References
Hobbies and Interests
Certification
Accomplishments
Languages
Websites
Timeline
Generic
Michael Ngugi Nderitu

Michael Ngugi Nderitu

Nairobi

Summary

Resourceful professional in management operations known for high productivity and efficient task completion. Possess specialized skills in strategic planning, team leadership, and operational improvement. Experienced in fast-paced environments and adaptable to last-minute changes. Thrives under pressure and consistently earns high marks for work quality and speed.

Overview

19
19
years of professional experience
1
1
Certification

Work History

Chief Risk Officer(CRO)

AZAFinance
Nairobi, Kenya
06.2019 - Current
  • Involved in the daily management of Treasury, Payments, Channel management, and Treasury Middle Office teams towards attaining the set objectives and goals.
  • Uniquely positioned to not only manage and mitigate the risks, but also to help the business take advantage of the upside opportunities for innovation and growth.
  • Oversee and develop a comprehensive process for assessing, identifying, monitoring, effectively managing and reporting pertinent business risks that could interfere with the organization’s core purpose and ability to grow and develop its business.
  • Monitor and report on adherence to and consistency of strategic initiatives with Board approved risk appetite framework, risk tolerances and risk profile.
  • Integrate risk management priorities into the company's overall strategic planning and determine the company's risk appetite and quantify the amount of risk the company should take on.
  • Evaluate potential operational risk stemming from employee errors or system failures that could disrupt business processes, then develop strategies to both reduce exposure to these risks and adequately respond when these issues occur.
  • Identify known and emerging risks, measuring, monitoring, and reporting on the entity’s risk profile to the Executive Management Team and the Board of Directors.
  • Facilitate the maintenance of risk corporate policies including credit and counterparty risk, market risk, operational risk, compliance, security, acceptable use, business continuity planning, and limit breaches and escalation.
  • Advocate for and support the culture of informed risk-taking, heighten awareness, and use advanced risk management practices through training programs and coaching.
  • Establish a high level of trust and credibility by building and maintaining relationships with business partners, key stakeholders and collaterals.
  • Developed and implemented risk management frameworks for AZAFinance operations.

Head of Treasury

BITPESA LTD
Nairobi, Kenya
05.2016 - 06.2019
  • Manage a team of five key technical members who are experienced in both treasury front office and payments.
  • Member of the Bitpesa Senior Leadership team to enhance and move the organization toward achieving its goals and objectives.
  • A leader in implementing the company’s OKR in the department and seeking collaboration with other functions to achieve the revenue target.
  • Manage liquidity across dozens of accounts in over 10 currencies while projecting cash flows and providing analysis of daily cash movements.
  • Carefully monitor capital controls, intercompany flows, and any other factors that may inhibit the ability to move funds freely.
  • Market making in several currency pairs, monitoring competitor pricing, and working with sales team to maximize price effectiveness to capture both volume and profitability.
  • Analyze the volume and timing of currency being traded each country, monitor the bank rates and parallel market rates (Nigerian Market) while managing relationships with key trading partners (e.g. Partners for Nigeria to Asia, the USA, Europe, Africa, and Dubai corridors.
  • Forecasting daily, weekly, monthly review of profitability across all countries, Submit weekly and monthly volume and profit reports and projections and to generate volume and profit projections for strategic plans per request from Executive Team.
  • Management and training of junior staff, sales team, and other staff to support trading efforts in order to improve technical FX knowledge across the team.

Head of Treasury

Rafiki Micro Finance Bank Ltd
Nairobi, Kenya
01.2016 - 05.2016
  • Ensure compliance with the FX risk limit frameworks is maintained and the dealers are within their approved independent FX risk frameworks at all times.
  • Inform the ALCO, MD, and Head of Risk & Compliance of any changes in strategy or product mix that may necessitate a change in the FX risk limit framework.
  • Establish FX risk limit frameworks in conjunction with the businesses, and ensure they take into account all the specific risk factors that each different business/risk-taking unit is exposed to, to ensure the ongoing applicability of the FX risk limit framework.
  • Formally review the FX limit risk framework at least annually and as and when required by the business and maintain documentation of the limit excesses, including corrective action and resolution date or authorization details.
  • Manage and maintain the limit database, and reconcile notifications of all unauthorized breaches of limits by the dealers.
  • Maintaining sufficient liquidity in both local and major foreign currencies to meet current and future financial obligations, by developing a diversified maturity profile to match investment maturities with the expected timing of financial obligations, as well as meeting regulatory and internal limits.
  • Maximising returns by obtaining the best market rate of return subject to acceptable risk parameters that ensures capital protection.
  • Diversifying investments among asset classes to ensure safety of capital and growth in shareholder value thereby preserving the real value of its assets over the long term

Forex Exchange Trader

Spire Commercial Bank Limited
Nairobi, Kenya
09.2010 - 01.2016
  • Promoting, controlling, and coordinating the Bank’s Treasury business to maximize profitability and to improve or maintain Equatorial’s image as a proficient operator in the market.
  • Product development to hedge against exposure created by customer transactions e.g. Spot, forward, and swaps.
  • To maintain close interaction with market players and gather market intelligence on financial markets, which aids in tracking exchange and interest rate movements in local and international markets while managing the bank’s position in accordance with the market.
  • To maintain foreign exchange positions for the bank within the given parameters and ensure profitable covering of open merchant positions in the interbank markets.
  • Liaise with Reuters and other service providers to ensure smooth operation of dealing resources.
  • Preparation and circulation of daily and weekly treasury bulletins and dissemination of any other market information or research material that is beneficial to relevant parties.
  • Manage the retail and corporate sales desk by ensuring that adequate spreads are applied, and good relationships are maintained with customers.
  • To increase the Bank’s share of forex business by retaining existing clientele and growing the portfolio through new clients, in order to attain the financial targets set for the treasury department.
  • Co-ordinating branch network visits to build staff product awareness on forex business.

Dealer Treasury

NIC Bank Limited
Nairobi, Kenya
01.2008 - 09.2010
  • To increase the Bank’s share of forex business by retaining existing clientele and growing the portfolio through new clients, in order to attain the financial targets set for the treasury department.
  • Identify, target, and market to new customers with the aim of growing the bank’s portfolio.
  • Market the various treasury products and provide innovative solutions to existing and potential customers to increase the wallet share.
  • Manage the retail sales desk by ensuring that adequate spreads are applied and good relationships are maintained with customers.
  • Ensuring the forex transactions are appropriately processed and completed.
  • Money Market Dealing, liquidity and Cash flow Management.
  • Deposit mobilization and pricing of wholesale deposits.

Equities Dealer

Dyer & Blair Investment Bank Limited
Nairobi, Kenya
01.2007 - 01.2008
  • Equities trading activities: Uploading client orders from the Brokerage account to the Automated Trading System for execution.
  • Analyzing the market during trading hours and giving out advice to corporate clients which aids them to make informed decisions.
  • Service delivery by establishing and managing client portfolio consisting of High-Net-Worth, Corporate and Institutional clients and ensure maximum returns from the portfolio.
  • Source for incremental business, and convert institutional, corporate, and high-net-worth clients from the pipeline to increase the wallet size of the existing portfolio by understanding their needs and requirements, and recommending appropriate measures.
  • Business development involves sourcing incremental business and converting institutional, corporate, and high-net-worth clients from the pipeline to increase the wallet size of the existing portfolio by understanding their needs and requirements, and recommending appropriate measures.

Customer Service Assistant

Dyer & Blair Investment Bank Limited
Nairobi, Kenya
03.2006 - 01.2007
  • Assisting the Customer Service Manager in the day-to-day running of the department.
  • Following up on and solving any escalated customer service issues, and allocating duties to the customer service representatives.
  • Giving personalized investment advice to existing and prospective clients and maintaining fair dealing and management of client’s portfolios.
  • Handling and executing all CDS-related issues, including opening new accounts.
  • Assisted clients with inquiries regarding investment products and services.
  • Resolved client complaints by identifying issues and proposing solutions.

Education

Master of Science Degree - Entrepreneurship

Jomo Kenyatta University of Africa(JKUAT)
01.2020

Upper Second Class Bachelor of Science Degree - International Business Administration majoring in finance

United States International University – Africa(USIU-A)
01.2001

K.C.S.E -

Muhoho High School
01.1997

Skills

  • Managing a vast technical and experienced team
  • Forex Revenue Generation, whilst managing the Business Risk
  • Actively manage forex gain/loss and the cost of sales
  • New Market entry and Setting up Policies, SLA, SOPs
  • Foreign Exchange trading; spot, forward and swap transactions
  • Corporate, SME and retail FOREX sales
  • Money market and cash flow management
  • Asset and Liability management (ALM)
  • Chairing and Preparation of ALCO reports
  • Fixed income trading; in both primary and secondary markets
  • Vast knowledge in technical and fundamental analysis of market trends

References

  • Thomas, Birgen, Country Manager, tombirgen@gmail.com, +254 714-748-036, One Africa Markets
  • Andrew, Kulankash, Co-Founder & CEO, kulankash@remitcore.money, +254722-713-615, Remitcore Money Transfer Limited
  • Elizabeth, Rossiello, Chief Executive Officer, elizabeth@azafinance.com, +44 7762-855-308, AZA-Finance

Hobbies and Interests

Playing and watching Rugby, soccer, athletics, reading educative journals

Certification

  • February 2012: Africa Management Communications –International Certificate in Forex & Money Market
  • June 2009: Leaders in Action Certificate in Professional Customer Care and Service Delivery
  • March 2008: Nairobi Stock Exchange Automated Trading System (ATS) Certificate as Equity Dealer
  • July 2008: Dyer & Blair Investment Bank certificate in investment banking
  • January 2007: Excel Management and Training Consultants Ltd, effective customer care skills, and effective selling skills

Accomplishments

  • Successfully the first team to test and implement automated trading in the Nairobi Securities Exchange (NSE) through the ATS platform
  • Growing the forex business in Spire Bank from KES 30 million to KES 100 million in the first year
  • Formulating trading policies, processes, and risk monitoring tools to mitigate the bank against any forex exposure
  • Setting up a fully structured treasury department in Rafiki Micro Finance Bank, creating policies, process reporting tools, and staff realignment to meet treasury needs
  • Advising the ALCO committee on how to fully optimize the asset and liability on the balance sheet, and increased the forex income, and also increased the interest income by diversifying into various asset classes
  • Trading in different market corridors, with different time zones, and facilitating transactions all across the major currencies in the world
  • Increased volume in AZAFinance from a monthly turnover of less than $1 million to now over $15 million, with a Forex income of $250,000 per month from a loss-making situation due to matched trading activities
  • Spearheaded AZA to realize $2 billion in transactional volume, with over 1 million transactions processed

Languages

Languages: English, Kiswahili

Timeline

Chief Risk Officer(CRO)

AZAFinance
06.2019 - Current

Head of Treasury

BITPESA LTD
05.2016 - 06.2019

Head of Treasury

Rafiki Micro Finance Bank Ltd
01.2016 - 05.2016

Forex Exchange Trader

Spire Commercial Bank Limited
09.2010 - 01.2016

Dealer Treasury

NIC Bank Limited
01.2008 - 09.2010

Equities Dealer

Dyer & Blair Investment Bank Limited
01.2007 - 01.2008

Customer Service Assistant

Dyer & Blair Investment Bank Limited
03.2006 - 01.2007

Master of Science Degree - Entrepreneurship

Jomo Kenyatta University of Africa(JKUAT)

Upper Second Class Bachelor of Science Degree - International Business Administration majoring in finance

United States International University – Africa(USIU-A)

K.C.S.E -

Muhoho High School

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Michael Ngugi Nderitu