Investment Analyst Board Member

JOSEPH MACHARIA KIHURO, MBA, CPA, PhD (Finance)(completed)

Tel: +254-***-***-***

Email: *******@*****.***

Development Finance & Investments Specialist

CAREER

PROFILE SUMMARY

• A top-ranking and passionate specialist in development finance and investments, self-driven with over 15 years’ experience from various top-tier commercial banks in Kenya and at Shelter Afrique - A Pan-African Housing Finance institution operating in 44 African countries and head quartered in Nairobi, Kenya.

• Sold and tested experience in debt, mezzanine, and equity finance, enhanced due diligence, business development, Portfolio, and client relationship management in different financial institutions.

• Vast experience in carrying out country and credit/investments risk due diligence appraisal missions in Anglophone, Francophone and Lusophone parts of Africa including countries like South Africa, Democratic Republic of Congo, Uganda, Ghana, Nigeria, Tunisia, Zimbabwe, Zambia, Mozambique, South Africa, Rwanda, Eswatini, Tanzania, Togo, Ivory Coast among others.

• With excellent knowledge and networks in most sub-Saharan African countries, I have been instrumental in carrying out country and credit/investments risk due diligence appraisal missions. Given my excellence in the roles I have undertaken, I have continuously improved procedures and outcomes by constantly evaluating the work undertaken and looking for ways to make things more efficient.

• A lot of experience in negotiations and discussions with key stakeholders such as Government Ministries, Central Banks, and senior government officials on key multilateral engagements on cooperation.

• In possession of a deep understanding of Transformational Risk Assessment, Portfolio, and credit management, I have successfully driven the conceptualization and implementation of Basel II, AML/CFT policies, and COSO-Based Enterprise Risk Management (ERM). I have also utilized keen analysis and effective team motivation and leadership to drive organizational improvements that have contributed to performance turnaround and the realization of record-setting revenues.

• Over the years, I have been involved in implementing and managing enterprise risk management strategies and governance, developing, and implementing the corporate governance structure which ensures board and senior management oversight in the enterprise-wide risk management that aligns with global best practices and local regulatory requirements. Additionally, I have reviewed the risk management frameworks in the Sub- Saharan region to ensure robustness and standardization across the group banks.

• Attended diverse local and international investments and credit risk Management Trainings by Fitch Learning in London, UK; African development Bank (AfDB), Tunis and Development Bank of Southern Africa (DBSA) in Johannesburg in South Africa.

• Accomplished published contributor/writer on investments, credit, and risk management topical issues - Regularly published in the local and international News publications such as The Daily Nation (Kenya); The East African (East African region's paper); the Business Daily

(Kenya); The Management Magazine.

• Excellent communication skills and with working knowledge of the French language

• I possess exceptional leadership expertise and excellent interpersonal and communication skills. I can listen attentively, communicate persuasively, and follow through diligently to build brands and achieve targets. This has been possible through participation as a Board Member in several companies.

EDUCATIONAL

BACKGROUND

PROFESSIONAL

COURSES

TRAINING ATTENDED

• PhD in Finance (Oral Defence approved in March 2023); January 2017 – March 2023 Thesis: Interest Rate Spread, Credit Risk, Bank Size, Ownership and Financial Performance of Commercial Banks in Kenya.

• M.B.A. in Business Administration (Finance Option) – The University of Nairobi; 2010 to 2012

• Bachelor of Commerce (Accounting Option) - The University of Nairobi – 2000 to 2004

• Certified Public Accountant of Kenya (C.P.A. (K) - Qualified in 2004

• Kenya Certificate of Secondary Education – Kianyaga High School; 1994 to 1998

• French Language Certification : DELF A2 (Diplôme d’Etudes en Langue Française) Alliance Française au Nairobi - Pass in November 2022

• Sitting for DELF B1(Diplôme d’Etudes en Langue Française); Bonjour Institute, Nairobi Examination in May 2023

• Training on the management of non-performing projects and how to restructure them; Fitch Learning, London, UK (June 2019)

• Hands-on training on Credit Risk Management and the role of the Business Support & Recoveries unit (BSRU) under the auspices of the Association of African Development Finance Institutions (AADFIs); Development Bank of Southern Africa (DBSA), Johannesburg, S.A.: September 2015

• Workshop on Enterprise Risk Management for Development Banks & Finance Institutions training on Enterprise Risk Management (ERM) which also included practical experience in preparing a bank's risk appetite policy, among other ways of managing credit, market, and operational risks; Development Bank of Southern Africa (DBSA), Johannesburg, S.A.: April 2015

• "Management of the key risks in Trade Finance facilities," TDB Bank, Nairobi: June 2014

• Euro-Money Training: "Structured & Financing Real Estate Transactions"; May 2014:

• "Anti-Money Laundering & Combat against Terrorism Training"; KPMG: March 2014

• Kenya School of Monetary Studies/Central Bank of Kenya, Mombasa: "Risk Management and Strengthening Internal Controls in Banks"; April 2014

• Investments management - School of Business, University of Cape Town, South Africa: October 2013: "Housing Finance Program for Sub-Saharan Africa 2013."

• "Project /Credit analysis workshop in Nairobi" facilitated by a Lead Investment Analyst at the African Development; African Development Bank: Jan 2013

• "Advanced Ms-Excel & Financial Modeling"; Talk I.T. limited Training May 2013

• African Development Bank's Risk Department, TUNISIA: July 2010: Practical exposure and training on Enterprise Risk Management, evaluating projects' risks, Project finance Private Equity and Lines of credit as well as how to meet the compliance needs

• "Training on Implementation of Basel II Risk Management Framework"; KPMG: May 2009 KEY SKILLS AND

COMPETENCIES

• Very experienced Risk and investment Manager: extensive experience in developing and implementing successful risk management frameworks, policies & procedures, risk appetite formulation, and proficiency at evaluating, monitoring & reporting risk bank wide.

• Business Development: Effective in supporting, maintaining, and growing business contacts through identifying new growth opportunities and developing networks to grow business.

• Portfolio/Credit Management: Capable of performing constant and effective client vetting, ensuring effective and timely debt collection hence healthy cash, maintaining accurate records of all debt collection activity, and achieving money.

• Relationship Management: Competent in working with clients to help them make the right decisions with their accounts and explain the financial services offered to them.

• Supervisory/ Leadership skills: A skilled leader with the ability to conduct analytical performance reviews of distributors and sales teams and ensure sales training & development for sales representatives and auxiliary sales team to increase performance.

• Relationship Management: Excelled in networking in different forums and events to establish and grow strong relationships/partnerships with industry stakeholders and business leaders.

• Communication and Interpersonal Skills: Ability to communicate verbally and non- verbally effectively and concisely when giving presentations to audiences.

• Analytical and Problem-Solving Skills: Able to visualize and solve complicated problems in the best way possible and make accurate and informed decisions. WORK EXPERIENCE

Manager – Special Operations Unit (Special Assets/Investments portfolio) Shelter Afrique – Head Quarters; August 2017 - To Date Duties and Responsibilities

• Assuming leadership during the start-up of the department, including hiring and managing staff, setting work assignments, and supervising consultants and developing policies.

• Executing reappraisal of distressed investment transactions, including debt, mezzanine, and equity investments that need financial restructuring to ensure satisfactory performance and guarantee development impact.

• Leading in negotiating the new loan terms, including loan interest, fees, and commissions.

• Preparing in-depth appraisal reports on investment proposals using qualitative and quantitative analysis and presenting the same to the Executive Committee and the Board of Directors for approval.

• Exploiting strong negotiation and transaction execution skills to lead meetings with project sponsors, developers, investors, co-lenders, and other relevant parties to craft bankable investment propositions.

• Providing an Alternative Dispute Resolution (A.D.R.) mechanism is critical for managing the distressed project loans portfolio.

• Ensuring the team can build effective client relationships and liaise with the risk management function to manage a portfolio of distressed credits/investments and implement strategies to minimize the bank's potential loss on assigned credits.

• Compiling forbearance requests, facilitating

• Recommending loans for collection litigation; initiates contact and works with legal counsel to recover assets owed to the company.

• Generating the lessons from the Portfolio and cascading them to the new business team and other teams involved in loans or investments management. Key achievements and results

• Served as the Chairman of the Loans Monitoring Committee (L.M.C.) at Shelter Afrique, where I oversaw the monitoring of the entire credit portfolio constituted of performing loans, non-performing loans, equities, and Joint venture investments.

• Chaired the monthly committee meetings and guided the management and the Board of Directors on the overall credit portfolio assurance and cascade lessons learned to the new business to ensure improved asset quality.

• Appointed a Board Member representing Shelter Afrique in several Joint venture and Equity projects such as Eden Beach Apartments in Mombasa, Itoga Holdings Limited in Nairobi, etc.

• Successfully set up the function from scratch, including preparing the Non-Performing Loans Management Policies and Procedures and staffing the department.

• Designed an early warning system that helps to monitor any red flags on the entire investment portfolio closely.

• Successfully managed a portfolio of USD 120 million and recorded recovery/collections of more than USD 45 million from the restructured investments/facilities.

• Directly contributed more than USD 15 million to the income statement since the commencement of the SOU function in the form of interest, fees, and write-backs from the NPL book.

Team Leader – Risk Management

Risk & Compliance – Risk Department; June 2014 to January 2015 Duties and Responsibilities

• Supported in deal sourcing and the initial due diligence, including Anti-Money laundering and terrorism financing tests for all potential clients.

• Led the credit risk team in reviewing all the credit requests, including Lines of credit to banks and other financial institutions, project loans, Equity participations, and Mezzanine loans, through the use of prudent credit risk assessment skills decisions and recommend to the Credit Committee and the Board Investments committee, relating to all new facilities and reviews.

• Led initiatives to develop methodologies for the measurement of Credit Portfolio Management.

• Developed and enhanced the Credit Reporting & Monitoring framework, which meets the requirements of various external & internal stakeholders.

• Supported the Director of Risk Management in planning, designing, and implementing the company's overall risk management process and presenting the Periodical Risk Reports for the Director of Risk Management, Senior management & the Audit & Risk Board Committee.

• In conjunction with the Director of Risk Management in Defining organizational risk appetite, design and implement risk policies and procedures.

• Provided support, education, and training to staff to build risk awareness within the company.

Credit Risk Officer; March 2009 to June 2014

Duties and Responsibilities

• Analyzed all the Lines of credit to banks and other financial institutions, project loans, Equity participations, and Mezzanine loans through prudent risk assessment skills AWARDS GIVEN

decisions and recommended to the Loan committee or the Board Investments committee relating to all new facilities and reviews.

• Participated in many project risk assessment missions at the appraisal level with the business and legal team.

• Reviewed sectorial/ country lending ceilings, discretionary authorities, and portfolio measures, including industry limits, tenor limits, risk rating, NPLs, risk acceptance criteria, security acceptance, and credit risk matrice.

• Carried out quarterly project risk assessment of the existing projects and scored them on a scale of 1-10 and ultimately highlighted the "red flags" for the follow-up to ensure NPL ratios remain low

• Monitored credit risks in the loan portfolio, analyzing the evolution of its risk profile and country, sector, and obligor concentration, the adequacy of provisions and risk capital required to support non-sovereign credit exposure

• Prepared credit risk and project risk reports for the senior management and the Board's Audit & Risk committee.

• Identified, monitored, and reported market and counterparty risk exposures from treasury investment and funding operations. Vet all the banks where the company is investing and issue an opinion.

• Actively participated in designing and implementing the COSO-based Enterprise Risk Management framework, culminating in developing the company's key risks, key risk owners, and critical risk mitigants.

Key achievements

• Directly participated in setting up the Shelter Afrique Risk Management function from scratch and was involved in all the shelter Afrique's risk management projects such as the Basel II, COSO-based Enterprise Risk Management, and Anti Money Laundering frameworks.

Corporate Risk Manager – Cooperate Risk Department G.T. Bank Limited; July 2008 to March 2009

Duties and Responsibilities

• Led a team of risk analysts in analyzing all the credit requests and making recommendations to the Head of Credit Risk management, Loan committee, or the Board Investments committee relating to all new facilities and reviews from the relationship managers.

• Ensured critical risk monitoring for compliance with all statutory requirements and monitored the entire corporate credit Portfolio, highlighting specific action points for accounts in excess/over approved limits and loans in arrears.

• Supervised and ensure the relevant input information & co-ordinate the updating of the Equinox Database System for purposes of compiling periodic Corporate Credit Risk Management Reports as per C.B.K. & the Bank's Credit Risk Policies/Requirements for the entire Corporate Portfolio

• Mentored and supervised 4 Risk Analysts, guiding credit decisions under the assigned jurisdiction.

• Training branch relationship managers on credit risk-related issues

• Awarded the employee of the year for successfully setting up and staffing a new special operations Unit at Shelter Afrique in 2017.

• Awarded the highest-level employees' evaluation rating of "Outstanding Performance" in the annual company performance Evaluation review for many years.

• Honored as a key speaker in the fight against Money Laundering in financial institutions in an international conference titled "Internal Fraud Risks Detection & Prevention" on 18th June 2012 by the highly reputed South African-based Firm Marcus Evans.

• Severally invited as an Investment Risk Management panelist on several T.V. channels, including CNBC AFRICA TV and BBC TV

OTHER PAST

ENGAGEMENTS

• Credit Manager; Family Bank Ltd; August 2006 to July 2008

• Relationship Manager, Credit; Equity Bank Ltd; December to August 2006 OTHER KEY

RESPONSIBILITIES

REFEREES

a) Current Chairman, Loans Monitoring Committee, Shelter Afrique b) Board Member, Eden Beach Management company Limited c) Board Member, Kew Gardens Management company Limited Dr. Charles Mwirigi, PhD.

Chief Executive Officer (C.E.O.),

Women Enterprises Fund, Nairobi

Tel. No. 072*******

Simon Waruingi

Head of S.M.E., U.B.A. Bank, Nairobi

Tel. No. 072*******

George Kihuria

Head of Circulation & Distribution,

Nation Media Group

P.O. Box 49010, Nairobi

Tel. No. 072*******

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