Summary
Date Posted: Friday, October 18 2024, Base Salary: Not Disclosed

JOB DETAILS:
1.1. Job Purpose
Reporting to the Manager - Licensing and Approvals, the Licensing and Approvals Officer is
responsible for the analysis and interpretation of periodic financial statements for issuers of
securities, market intermediaries and approved institutions to ensure compliance with IFRS,
and regulatory requirements and standards to protect investor interests. They are also
responsible for the analysis of corporate governance structures and practices by issuers of
securities and institutional investors in line with the Corporate Governance best practices,
the Capital Markets legal and regulatory framework, the Law governing Companies and
other regulatory requirements and standards.
The Licensing and Approvals Officer is also responsible for reviewing license applications,
conducting analysis and interpreting financial and other information on license applications
for market intermediaries, exchanges and other regulated persons to be licensed by the
Authority, to ensure compliance with the legal and regulatory framework governing the
capital markets, collective investment schemes, commodity exchange and related contracts,
warehouse receipts system, and any other market segments, as may be assigned by the Law,
and applicable standards.
In collaboration with the Department of Technology and Digital Innovation, they are further
responsible for reviewing and providing quality control of the license, approvals,
recognitions and registration applications for markets and platforms such as securities
exchanges, commodities exchanges, over-the-counter (OTC) platforms, central securities
depositories, central counterparties (CCPs), self-regulatory organizations (SROs) and other
market infrastructures.

1.2. Job Functions
1) Designing, developing and implementing strategies, policies and programs to
facilitate analysis and interpretation of issuers, market intermediaries and other
regulated persons financial statements;
2) Reviewing of audited and periodic financial statements of market intermediaries,
approved institutions and issuers of securities to secure continued compliance;
3) Continuous engagements and communication with issuers of securities, market
intermediaries, other regulated persons and other key stakeholders to facilitate
compliance;
4) Reviewing and monitoring of principal, interest and other obligatory payments by
issuers of securities and engaging with issuers to facilitate resolutions in cases of
default;
5) Designing, developing and implementing strategies, policies and programs to
facilitate financial analysis and promote the application of corporate governance
standards structures and practices by issuers of securities and institutional investors;
6) Continuous analysis of corporate governance structures of issuers of securities to
determine compliance with applicable regulatory requirements and standards;
7) Driving the adoption of environmental social and governance (ESG) standards,
integrated reporting and emerging best practices in governance;
8) Development and timely publication of issuers' governance reports and other
relevant reports in line with the above functions.
9) Reviewing applications for licensing – Fund/Investment Managers, Investment
Advisers, Stock Brokers, Authorised Depositories, Investment Banks, REIT Managers,
Derivative Brokers, Clearing Members, etc.;
10)Reviewing applications for licensing of securities exchanges, commodities exchanges,
over-the-counter (OTC) platforms, central securities depositories, central counter
parties (CCPs), and other market infrastructures in collaboration with the
Department of Technology and Digital Innovation
11)Conducting analysis of financial statements submitted in support of applications by
Fund/Investment Managers, Investment Advisers, Stock Brokers, Authorised
Depositories, Investment Banks, REIT Managers, Derivative brokers, Clearing
Members, etc.;
12)Reviewing financial information on notices, announcements and advertisements by
market intermediaries and make recommendations of the suitability for publication.

1.3. Officer – Licensing and Approvals
1.3.1. Job Specifications
The duties and responsibilities entail:
Issuers/Products – Equity, Debt, Collective Investment Schemes and other products
1) Reviewing prospectuses, memorandum, financial statements, and other disclosure
information by potential issuers to ensure investors are provided with adequate and
complete information;
2) Reviewing and conducting analysis of financial statements submitted in support of
various corporate actions by issuers of securities such as bonus issues, rights issues,
share splits, mergers and acquisitions, private transfers, capital markets instruments,
corporate bonds, commercial papers, asset-backed securities, etc. to ensure
compliance;
3) Conducting analysis of financial data and valuation methodologies used by issuers of
securities to determine their objectiveness and ensure adequate disclosures;
4) Analysing financial statements to ensure that financial reporting by potential issuers
of securities is in line with the requirements of International Financial Reporting
Standards (IFRS) and other applicable regulatory requirements and standards;
5) Maintaining and updating databases relating to financial data, in relation to the
issuers of securities and corporate actions as approved by the Authority and
undertaking trend analysis to inform policy decisions;
6) Through liaison with various stakeholders, undertaking research on existing and
emerging capital markets products and services to enhance review of applications;
7) Organizing and participating in engagements with applicants and other stakeholders
to facilitate approvals for issuers of securities and other corporate actions;

Licensing
1) Reviewing of applications for licensing market intermediaries including
Fund/Investment Managers, Investment Advisers, Stock Brokers, Investment Banks,
REIT Managers, Derivative Brokers, Clearing Members, etc.;
2) Conducting the review and analysis of financial statements and other information
submitted in support of applications by market intermediaries including
Fund/Investment Managers, Investment Advisers, Stock Brokers, Authorized
Depositories, Investment Banks, REIT Managers, Derivative brokers, clearing
members etc. to ensure compliance with the relevant legal and regulatory framework
requirements;
3) Engaging and communicating with applicants on areas of non-compliance relating to
the applications for licensing;
4) Proactively engaging applicants, potential candidates for licensing and other
stakeholders with a view of facilitating the licensing process;
5) Reviewing notices, announcements, advertisements and other required publications
by market intermediaries and make recommendations of the suitability for
publication;
6) Reviewing financial information on notices, announcements, advertisements and
other required publications by market intermediaries and make recommendations of
the suitability for publication;
7) Undertaking fit and proper assessments of directors, key personnel and no objection
requests;
8) Reviewing and undertaking research on new developments and lead licensing
practices to enhance the review of applications through ensure the application of best
licensing policies and business processes and procedures;
9) Maintaining databases relating to licensing applications and undertaking trend
analysis to inform improvements in licensing business processes and procedures as
well as informing policy decision-making;
10) Maintaining databases relating to financial data and analysis reports for applicants to
inform policy improvements;
11) Organizing meetings and forums with license applicants and other stakeholders to
engage and respond to queries and correspondences from various internal and
external parties on the licensing, IFRS and other requirements regarding their
applications;
12) Undertaking research on new developments in accounting, International Financial
Reporting Standards (IFRS) and licensing practices to ensure application of lead
practices in review of applications;
13) Preparing turnaround times schedules;
14) Undertaking any other duties as may be assigned from time to time.

Governance oversight
1) Conducting analysis of corporate governance structures and practices by issuers of
securities to ensure compliance with the Corporate Governance Code for issuers of
securities and other relevant regulatory requirements and standards;
2) Organizing and continuously engaging with issuers of securities, the institutional
investors and other key stakeholders to facilitate compliance with the Corporate
Governance Code for issuers of securities and other relevant regulatory requirements
and standards;
3) Developing and coordinating the implementation of governance scorecards and
assessment tools for use in review of compliance by institutional investors and
issuers of securities;
4) Supporting the implementation of environmental social and governance (ESG),
integrated reporting and emerging best practices in governance;
5) Coordinating the development and reviewing of governance scorecards based on
analysis of the reporting templates;
6) Reviewing and preparing aggregated reports for all the issuers of securities on their
compliance levels with regulatory requirements and standards relating to
governance to aid in decision-making;
7) Reviewing and developing summary issuer governance reports for publication;
8) Developing and implementing Corporate Governance capacity building programmes
through organized workshops and seminars for issuers and institutional investors;
9) Ensuring maintenance of updated databases relating to compliance by issuers and
institutional investors and conducting trend analysis to inform policy and regulatory
reforms;
10)Continuously identifying and managing risks; and
11)Undertaking any other duties as may be assigned from time to time.
1.3.2. Recognized Qualifications

For appointment to this position, a candidate must have:
1) Bachelor or master’s degree in any of the following fields: Finance, Economics,
Business Administration or any other field related to the position;
2) At least four (4) years of related work experience for senior officer and two (2) years
for officer, please attach evidence;
3) Professional qualifications in Accounting or Finance such as ACCA, CPA or CFA will be
an added advantage;
4) Membership of a professional accounting or finance body in good standing such as
the Institute of Certified Public Accountants of Rwanda (iCPAR) or its equivalent;
5) Meet the requirements of the Statute governing the management of CMA staff.

1.3.3. Skills and Abilities
1) Strong written and verbal communication skills, including the ability to prepare and
present reports or recommendations to the Management and Staff;
2) Excellent computer literacy skills including knowledge of Microsoft Office, E-mail,
Internet, website navigation, and report writing tools;
3) Ability to work independently and as part of a team.

Work Hours: 8

Experience in Months: 96

Level of Education: Bachelor Degree

Job application procedure
Interested in applying for this job? Click here to submit your application now.
Interested and qualified candidates should submit their applications online to the following. Applicants must submit the following documents in PDF format:
1) An application letter addressed to the Chief Executive Officer
2) A detailed Curriculum Vitae
3) Copy of academic degree(s) and Certificates
4) Proof of previous relevant working experience
5) Copy of National Identity and/or passport
The deadline for submission of applications is 1st November 2024.
Only shortlisted candidates will be contacted.
Capital Market Authority

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