13 Job Positions at Capital Market Authority (CMA) : Deadline: 01-11-2024

13 Job Positions at Capital Market Authority (CMA) : Deadline: 01-11-2024

OB DESCRIPTION
POSITION 1. HEAD CORPORATE SERVICES
1.1. Job Purpose
Reporting to the Chief Executive Officer, the Head of Corporate Services is responsible for
the provision of oversight in Human Capital and Administration functions of the Authority,
the Finance and Accounting services by ensuring that the Authority’s mandates of ensuring
market development and undertaking market regulation are attained

. The job holder
undertakes this by ensuring to advise the Management on technical issues affecting this
function to ensure institutional efficiency and effectiveness of the Authority.
1.2. Job Functions
1) To provide technical and strategic leadership to the strategy and planning functions
of the Authority
2) Providing leadership and strategic direction on Human Capital and Administration
functions;
3) Developing and overseeing the required controls in Finance and Accounting;
1.3. Job Specification
The duties and responsibilities entail:
1) Implementing the strategic objectives of the Authority as directed by the
Management;
2) Providing technical advice to the Management, Heads and Department staff on
financial operations, and performance measurement;
3) Providing day-to-day leadership and management to a service organization that
mirrors the adopted vision and core values of the CMA;
4) Ensuring compliance with the legal and regulatory framework on Public Financial
Management (PFM), International Financial Reporting Standards (IFRS) and other
relevant standards and applicable directives received from the Government;
5) Measuring the effectiveness of all internal and external business processes and
procedures, and providing timely, accurate and complete reports on the operating
condition of the CMA;
6) Overseeing the administration and management of budgets, whilst forecasting
additional resources and recommending adjustments as necessary;
7) Coordinating the implementation of key organization transformational projects
designated to corporate services;
8) Assessing and managing the principal risks of the CMA business operations
(proposals, projects and staffing);
9) Reviewing, developing and executing the Corporate Services business plan in line
with the overall strategic objectives of the Authority;
10) Overseeing the finance function, ensuring proper management of financial affairs and
advising the Authority on financial planning strategies and policies; monitoring the
budget; and ensuring that monthly, quarterly and annual financial statements are
prepared on time;
11) Safeguarding the financial resources of the Authority and those of the Capital Market
Investor Compensation Fund (ICF) and ensuring optimum returns from investments;
12) Assisting in establishing and maintaining an appropriate organizational structure of
the Authority to enable the CMA to execute its mandates effectively and efficiently;
13) Coordinating internal and external communication (correspondences, emails, phone
calls, etc.) within the Department as well as responding to all relevant enquiries
addressed to the Department;
14) Developing, coaching, motivating and appraising staff performance in the
Department;
15) Undertaking any other duties as may be assigned from time to time.
1.4. Recognized Qualifications
For appointment to this position, a candidate must have:
1) Master’s or Bachelor’s Degree in any of the following fields: Finance, Accounting,
Business Administration or any other field related to the position;
2) At least six (8) years of related working experience; please attach evidence
3) At least six (6) years of experience in a managerial position, please attach evidence
4) Professional qualifications in Accounting or Finance such as ACCA, CPA or CFA is an
added advantage
5) If with professional qualifications, membership in professional accounting or finance
body in good standing such as the Institute of Certified Public Accountants of Rwanda
(iCPAR) or its equivalent;
6) Demonstrating leadership skills at senior management level;
7) Meet the requirements of the Statute governing the management of CMA staff.
1.5. Skills and Abilities
1) Strong written and verbal communication skills, including the ability to prepare and
present reports or recommendations to the Board, Management and Staff;
2) Ability to work independently and as part of a team; with strong collaboration,
negotiation, and teamwork skills.
3) Strong leadership and engagement capabilities including decision-making, team
building, training and development.
4) Ability to build and motivate high-performing teams and foster a culture of
collaboration and continuous learning and improvement.
5) Analytical and strategic thinking and problem-solving abilities
6) Highly organised, results-driven, self-starter, creative and innovative

POSITION 2. HEAD TECHNOLOGY AND DIGITAL INNOVATION
1.1. Job Purpose
Reporting to the Chief Executive Officer, the Head of Technology and Digital Innovation is
responsible for providing leadership, strategic direction and oversight in the development,
implementation, monitoring and review of CMA’s technology, digital innovation, market
infrastructure, fintech and data analytics policy and strategy to enhance CMA’s business
operations as well as facilitating the development and oversight of markets infrastructure.
1.2. Job Functions
1) Leading the development and execution of the Technology and Digital Innovation,
Market Infrastructure, Fintech and Data Analytics strategies that support the overall
CMA strategic plan.
2) Coordinating the Development, reviews, and implementation of appropriate policies,
strategies and governance frameworks that promote and support the adoption of
Financial Technologies (Fintech), market infrastructure platforms, advanced data
analytics and other digital innovation tools that have the potential to accelerate the
market development and oversight;
3) Advising CMA’s Management on digital transformation and emerging technologies,
strategic systems and integrations in support of the Authority’s strategic objectives;
and
4) Directing and harnessing the capabilities of the Department of Technology and Digital
Innovation in order to achieve the strategic aspirations of the Authority.
1.3. Job Specifications
The duties and responsibilities entail:
1) Leading the development and execution of Technology and Digital Innovation, Market
Infrastructure, Fintech and Data Analytics strategies that support the overall CMA
strategic plan.
2) Coordinating the development, reviews and implementation of appropriate policies,
strategies and governance frameworks that promote and support the adoption of
Financial Technologies (Fintech), market infrastructure platforms, advanced data
analytics and other digital innovation tools that have the potential to accelerate the
market development and oversight;
3) Promoting, empowering and providing guidance to regulated and unregulated
Fintech companies to develop innovative solutions that deepen the market, and assist
them to understand the regulatory framework and supervisory approaches in
collaboration with relevant departments.
4) Collaborating with the management team to understand data requirements to
support business goals, define KPIs and ensure reports and data visualization tools
are implemented to support CMA in data-driven decision-making.
5) Collaborate with systems vendors, partners, local, regional and international
stakeholders to drive innovative ideas and systems integration processes.
6) Participating in the preparation, review, validation and implementation of national
and regional projects, policies and strategies about technology and digital
innovations.
7) Continuously advising CMA’s management on digital transformation and emerging
technologies, strategic systems and integrations in support of the Authority’s
strategic objectives.
8) Coordinating the development and implementation of the Authority’s IT and
digitalization strategy to boost automation of appropriate functions, business
processes and services and to ensure IT systems are effectively supporting functional
operations and scalable in line with CMA’s statutory mandate and strategic
objectives;
9) Leading the development, implementation and maintenance of IT infrastructure, IT
service management, information security policies and data protection and privacy
policies and delivering effective support and training on the usage of IT systems.
10)Overseeing and coordinating execution of IT resources, operations and projects from
the planning to the implementation phase to ensure value for money and return on
investment;
11)Leading the technology and digital innovation team of staff and consultants in a
manner that empowers them to be creative and innovative to deliver high standards
of performance.
12)Developing, coaching, motivating and appraising staff performance in the Directorate.
13)Stay abreast of emerging technologies, industry trends and best practices, and
provide recommendations for adoption and improvement.
14)Undertake any other duties as may be assigned from time to time.
1.4. Recognized Qualifications
For appointment to this position, a candidate must have:
1) Master’s Degree in any of the following fields: Information Technology, Computer
Science, Computer Engineering or any other field related to the position;
2) At least eight (8) years of working experience in IT; please attach evidence
3) At least six (6) years of experience in a managerial position; please attach evidence
4) Good understanding and usage of best-in-class Software Development Methodologies
(Agile, Scrum, SDLC, DevOps, etc.) and various technology stacks.
5) Demonstrating experience in database and applications administration, business
process re-engineering, business continuity management and disaster recovery
plans.
6) Certification in any information technology services management (e.g., ITIL);
information technology systems, network and security administration (e.g., MCSE,
CCNA, CCNA Security); / and /or in information security management systems;
7) Good knowledge of Financial Technologies (Fintech) and their underlying
technologies including blockchain, artificial intelligence, machine learning and data
analytics.
8) Understanding of the usage of various blockchain concepts including but not limited
to public and private blockchain, tokenization, cryptocurrency, smart contract,
encryption, private and public key, crypto mining, crypto staking, etc will be an added
advantage.
9) Knowledge about financial markets and financial market infrastructure will be an
added advantage.
10)Meet the requirements of the Statute governing the management of CMA staff.
1.5. Skills and Abilities
1) Strong written and verbal communication skills, including the ability to prepare and
present reports or recommendations to the Board, Management and Staff;
2) Ability to work independently and as part of a team; with strong collaboration,
negotiation, and teamwork skills.
3) Strong leadership and engagement capabilities including decision-making, team
building, training and development.
4) Ability to build and motivate high-performing teams and foster a culture of
collaboration and continuous learning and improvement.
5) Analytical and strategic thinking and problem-solving abilities
6) Highly organized, results-driven, self-starter, creative and innovative
7) Passion for technology and innovation

POSITION 3. HEAD MARKET OPERATIONS
1.1. Job Purpose
Reporting to the Chief Executive Officer, the Head of Market Operations is responsible for
providing strategic direction as well as technical leadership in matters related to overall
market oversight ensuring orderly, fair and efficient market and investor protection while
remaining facilitative and proactive in supporting market development.
1.2. Job Functions
1) Advising on market supervision and oversight strategies;
2) Advising on the appropriateness of supervision and investigatory business processes
and procedures;
3) Providing technical leadership and strategic direction in the design, implementation
and evaluation of supervision for 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;
4) Ensuring there are proper regulatory mechanisms in place to boost robust levels of
investor protection through effective surveillance, supervision and investigations of
market development for 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;
1.3. Job Specifications
The duties and responsibilities entail:
1) Advising on market supervision and oversight strategies of the Authority that ensure
the market is orderly and fair tending towards market efficiency;
2) Advising on the appropriateness of investigatory and enforcement business
processes put in place at the Authority to provide investor protection when dealing
in capital markets and other relevant market segments products and services;
3) Designing and implementing systems to facilitate timely and effective review of
licensing applications and robust oversight of fit and proper assessment for all new
and existing market intermediaries/participants;
4) Providing technical leadership and strategic direction in the design, implementation,
and evaluation of market supervision, inspection, and surveillance programs to
secure compliance with regulatory requirements by all market participants (publicly
listed companies, exchanges, central depositories, licensed persons, and licensed
products) within 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;
5) Developing and overseeing the continuous enhancement of financial analysis
functions to grow the scope and quality of information for purposes of risk-based
supervision, market performance analysis, surveillance and identification of areas for
market development;
6) Providing guidance on monitoring of governance by issuers of securities to the public,
ensuring timely review of relevant information filed with the Authority and giving
feedback from reviews;
7) Ensuring there are proper regulatory mechanisms in place to boost robust levels of
investor protection through effective surveillance, investigations, and vigorous
prompt enforcement to support market growth, with a focus on proactive and preemptive surveillance to enhance the level of transparency and competition in the
market place and facilitate product innovation and creativity;
8) Designing and implementation of systems for the timely and effective review of
transactions/product approval applications to encourage market growth and
product innovation;
9) Developing improved investigations coordination with internal/external
investigators and other financial industry regulators to combat market abuse and
ensure fair and orderly markets and investor protection;
10) Assessing the skills and training needs of department staff and facilitating the
relevant training to ensure the requisite capacity.
11) Continuously assessing Department resources needs and being involved in
mobilizing the same from internal or external sources;
12) Coordinating internal and external communication (correspondences, emails, phone
calls, etc.) within the Department as well as responding to all relevant enquiries
addressed to the Department;
13) Developing, coaching, motivating and appraising staff performance in the
Department;
14) Undertaking any other duties as may be assigned from time to time.
1.4. Recognized Qualifications
For appointment to this position, a candidate must have:
1) Doctorate Degree or Master’s Degree in any of the following fields: Finance,
Economics, Business Administration or any other field related to the position;
2) If with a Master’s Degree, professional qualifications in Accounting or Finance such
as ACCA, CPA, CISI or CFA will be an added advantage
3) If with professional qualifications, membership in professional accounting or finance
body in good standing such as the Institute of Certified Public Accountants of Rwanda
(iCPAR) or its equivalent;
4) At least eight (8) years of relevant working experience; please attach evidence
5) At least seven (6) years of experience in a managerial position; please attach evidence
6) Demonstrating experience in policy and economic research, strategic transformation,
negotiation skills and dispute resolution;
7) Demonstrating knowledge in corporate finance, accounting and/or financial markets;
8) Knowledge about the Rwandan capital market industry will be an added advantage;
9) Demonstrating leadership skills at senior management level;
10) Meet the requirements of the Statute governing the management of CMA staff.
1.5. Skills and Abilities
1) Strong written and verbal communication skills, including the ability to prepare and
present reports or recommendations to the Board, Management and Staff;
2) Ability to work independently and as part of a team; with strong collaboration,
negotiation, and teamwork skills.
3) Strong leadership and engagement capabilities including decision-making, team
building, training and development.
4) Ability to build and motivate high-performing teams and foster a culture of
collaboration and continuous learning and improvement.
5) Analytical and strategic thinking and problem-solving abilities
6) Highly organized, results-driven, self-starter, creative and innovative

POSITION 4. HEAD MARKET DEVELOPMENT
1.1. Job Purpose
1.2.
Reporting to the Chief Executive Officer, the Head of Market Development is responsible for
providing technical and advisory leadership to the Management on all issues relating to
policy and market development within 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. This post is thereby responsible for
initiating the development of policies, strategies and procedures for removing impediments
to investments and providing incentives to attract investments in products and services
within 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. The Head of Market Development is further responsible for the development and implementation of an operational and institutional framework for the market certification program;

1.3. Job Functions
To provide technical and strategic leadership with respect to policies that support a
responsive legal and regulatory framework, product uptake and market deepening; the
investor education and corporate communications functions of the Authority.
1.4. Job Specifications
The duties and responsibilities entail:
1) Developing policies that support a responsive regulatory models and policies that
promote efficient market and intermediary infrastructure and operations;
2) Formulating policies, systems and strategies that will identify and remove
impediments and create incentives for developing innovative market products;
3) Directing the planning, design, conduct and coordination of policy backed by
comprehensive research studies and surveys aimed at assessing, evaluating,
establishing and developing policies, strategies and systems that will create
incentives and/or products for the development of a vibrant, liquid and efficient
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;
4) Advising on and advocating for policies to support a responsive legal and regulatory
framework for the operation of fair, efficient and orderly 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.;
5) Overseeing the development and implementation of an operational and institutional
framework for market certification program;
6) Coordinating CMA’s participation in domestic, regional and international forums
aimed at enhancing domestic, regional and international issuer, investor and market
intermediary experience in the capital markets;
7) Coordinating internal and external communication (correspondences, emails, phone
calls, etc.) within the Department as well as responding to all relevant enquiries
addressed to the Department;
8) Leading the development of and execution monitoring of the Department annual
work plan and budget;
9) Developing, coaching, motivate and appraising staff performance in the Department;
10) Undertaking any other duties as may be assigned from time to time.

1.5. Recognized Qualifications
For appointment to this position, a candidate must have the following or equivalent:
1) Master’s Degree in any of the following fields: Economics, Finance, Business
Administration or any other field related to the position;
2) Professional qualifications in Accounting or Finance such as ACCA, CPA, CFA or CISI
will be an added advantage;
3) At least seven (8) years of related work experience in the financial sector; please
attach evidence
4) At least six (6) years of experience in a managerial position; please attach evidence
5) Demonstrating experience in policy and economic research, knowledge of national
strategic transformation programmes (Vision 2050, NST1, etc.), negotiation skills and
dispute resolution;
6) Knowledge about the capital market industry;
7) Knowledge of the legal framework (laws) governing financial sector services in
Rwanda will be an added advantage;
8) Demonstrating leadership skills at senior management level;
9) Meet the requirements of the Statute governing the management of CMA staff.

1.6. Skills and Abilities
1) Strong written and verbal communication skills, including the ability to prepare and
present reports or recommendations to the Board, Management and Staff;
2) Ability to work independently and as part of a team; with strong collaboration,
negotiation, and teamwork skills.
3) Strong leadership and engagement capabilities including decision-making, team
building, training and development.
4) Ability to build and motivate high-performing teams and foster a culture of
collaboration and continuous learning and improvement.
5) Analytical and strategic thinking and problem-solving abilities
6) Highly organized, results-driven, self-starter, creative and innovative
7) Passion for research and development

POSITION 5. HEAD LEGAL AND CORPORATE AFFAIRS
1.1. Job Purpose
Reporting to the Chief Executive Officer, the Head of legal and Corporate Affairs is
responsible for providing strategic leadership in the effective and efficient delivery of the
Authority’s legal and regulatory framework, compliance and enforcement, legal advisory,
contracting, litigation, and corporate secretarial services.

1.2. Job Functions
1) Developing and implementing strategies and programs to support the Legal and
Corporate Affairs Department;
2) Overseeing the delivery of Corporate Secretarial services to the Authority’s Board of
Directors and coordinates the business operations of the Board;
3) Negotiating and overseeing the drafting of Contracts/Agreements/MoUs and other
legal documents between the Authority and other parties to ensure that the interests
of the Authority are well protected.
4) Leading and managing representation of the Authority in hearings in courts, tribunals
and other relevant forums.
5) Coordinating compliance and enforcement activities to preserve and sustain the
integrity, fairness and efficiency capital market and protect investors’ interests.
6) Leading legislative drafting and related regulatory frameworks, legal interpretations
and technical advisories relating to capital markets.
7) Overseeing the establishment and implementation of domestic, regional and global
corporations with other regulatory authorities for the development and regulation of
capital markets as well as related cross-border activities.

1.3. Job Specification
The duties and responsibilities entail:
1) Developing and implementing strategies and programs to support the Legal and
Corporate Affairs Department;
2) Providing corporate secretarial services to the Authority’s Board of Directors and
coordinates the business activities of the Board;
3) Negotiating and overseeing the drafting, review and clearing of Contracts/
Agreements/MoUs and other legal documents between the Authority and other
parties to ensure that the interests of the Authority are well protected;
4) Ensuring that the Authority complies with the relevant legislation, regulations and
Government directives and keeps abreast with the legal reforms as and when
required;
5) Coordinating and facilitating the induction and training of Board members;
6) Providing legal advisory and opinion to the Authority to support strategic decisionmaking;
7) Leading and managing representation of the Authority in hearings in courts, tribunals
and other relevant forums;
8) Overseeing litigation of Court and Tribunal cases and liaise with external advocates
on witness identification and preparation of witness statements;
9) Advising the Board and Management on requirements for compliance with relevant
legal and regulatory framework as well as relevant statutory obligations;
10)Monitoring and ensuring timely implementation of Board Resolutions;
11)Overseeing the procurement of legal services providers and their effective
management to ensure delivery of quality legal services;
12)Coordinating compliance and enforcement activities to preserve and sustain the
integrity, fairness and efficiency capital market and protect investors’ interests.
13)Leading legislative drafting and related regulatory frameworks, legal interpretations
and technical advisories relating to capital markets.
14)Overseeing the establishment and implementation of domestic, regional and global
corporations with other regulatory authorities for the development and regulation of
capital markets as well as related cross-border activities.
15)Coordinating internal and external communication (correspondences, emails, phone
calls, etc.) within the Directorate and responding to all enquiries addressed to it;
16)Developing, coaching, motivating and appraising staff performance in the
Directorate;
17)Undertaking any other duties as may be assigned from time to time.

1.4. Recognized Qualifications
For appointment to this position, a candidate must have:
1) Master’s Degree in any of the following fields: Law, Business Law, Commercial Law or
any other field related to the position;
2) Professional qualifications in legal practices such as a valid certification from the
Rwandan Institute of Legal Practice and Development (ILPD) or its equivalent;
3) At least six (8) years of related work experience, please attach evidence
4) At least six (6) years of related work experience in a managerial position, please
attach evidence
5) Demonstrating skills in legal research, legal analysis, writing reports and documents;
6) Demonstrating experience in negotiation skills and dispute resolution;
7) Knowledge of the legal framework (laws) governing financial sector services in
Rwanda will be an added advantage;
8) Demonstrating leadership skills at senior management level;
9) Meet the requirements of the Statute governing the management of CMA staff.
1.5. Skills and Abilities
1) Strong written and verbal communication skills, including the ability to prepare and
present reports or recommendations to the Board, Management and Staff;
2) Ability to work independently and as part of a team; with strong collaboration,
negotiation, and teamwork skills.
3) Strong leadership and engagement capabilities including decision-making, team
building, training, and development.
4) Ability to build and motivate high-performing teams and foster a culture of
collaboration and continuous learning and improvement.
5) Analytical and strategic thinking and problem-solving abilities
6) Highly organized, results-driven, self-starter, creative and innovative

POSITION 6. MANAGER- LEGAL AND REGULATORY FRAMEWORK
1.1. Job Purpose
Reporting to the Head of legal and Corporate Affairs, the Manager-Legal and Regulatory
Framework is responsible for levitative drafting and related regulatory framework, legal
interpretations, and technical advisories related to capital markets, collective investment
schemes, commodity exchange and related contracts, warehouse receipts system and any
other market segments as may be assigned by Law. The post holder is also responsible for
providing information on the Board of Directors’ best practices and tailoring the Board of
Directors’ governance framework to fit the needs of the Authority. He/she supports the
Board of Directors in carrying out its mandatory duties. They also ensure that the Authority
complies with relevant legislation and regulations and keeps Board members informed of
their legal responsibilities.

1.2. Job Functions
1) Advising Management on appropriate legal frameworks to support market
development and regulation of the capital markets, collective investment schemes,
commodity exchange and related contracts, warehouse receipts system; and any
other market segments as may be assigned by Law;
2) Drafting of legal and regulatory frameworks for various new products and services as
and when need arises;
3) Playing the key strategic liaison between the Authority with relevant domestic,
regional and international stakeholders from both the public and private sectors
concerning the legislative and regulatory development process;
4) Coordinating the Authority’s representation in domestic, regional and global
committees such as the International Organization for Securities Commission
(IOSCO) Committee on Growth and Emerging Markets (GEM), IOSCO Africa/MiddleEast Regional Committee (AMERC), etc. and providing secretariat support where
necessary;
5) establishment and implementation of domestic, regional and global cooperation with
other regulatory authorities for the development and regulation of cross-border
activities.
6) Advising Management on establishment and managing relationships with
regulatory bodies (local, regional and international) and other strategic
partners in areas of mutual interests;
7) Acting as a strategic link between the Authority and its key partners as well as
external stakeholders;
8) Providing leadership and policy direction on legal issues;
9) Formulating, implementing, and reviewing legal policies, strategies, business
processes, and procedures;
10)Negotiating contracts; provision of advice on appropriate legal action in case of
breach of obligations;
11)Providing secretariat services to the Board of Directors;
12)Preparing the annual budget for the Department, business activities of the Board of
Directors, calendar of Board of Directors meetings, events and work plans.

1.3. MANAGER – LEGAL AND REGULATORY FRAMEWORK
1.3.1. Job Specifications
The duties and responsibilities entail:
Legal and Regulatory Framework
1) Advising Management on appropriate legal frameworks to support market
development and regulation of the capital markets, collective investment schemes,
commodity exchange and related contracts, warehouse receipts system; and any
other market segments as may be assigned by Law;
2) Drafting of legal and regulatory frameworks for various new products and services as
and when the need arises;
3) Playing the key strategic liaison between the Authority with relevant domestic,
regional and international stakeholders from both the public and private sectors
concerning the legislative and regulatory development process;
4) Coordinating the Authority’s representation in domestic, regional and global
committees such as the International Organization for Securities Commission
(IOSCO) Committee on Growth and Emerging Markets (GEM), IOSCO Africa/MiddleEast Regional Committee (AMERC), etc. and providing secretariat support where
necessary;
5) establishment and implementation of domestic, regional and global cooperation with
other regulatory authorities for the development and regulation of cross-border
activities.
6) Advising Management on establishment and managing relationships with
regulatory bodies (local, regional and international) and other strategic
partners in areas of mutual interests;
7) Acting as a strategic link between the Authority and its key partners as well as
external stakeholders;
Legal Advisory, Contracts and Litigation
1) Preparing, reviewing and clearing contracts and cooperation agreements for the
Authority;
2) Drafting legal opinions on issues about the Authority’s mandates and/or issues
arising from its engagement with internal and external stakeholders;
3) Drafting, reviewing and clearing contracts for the procurement of external services
as required by the Authority;
4) Liaising and working closely with advocates of contracting parties to ensure effective
delivery of services;
5) Providing legal advice to Staff as may be required from time to time;
6) Maintaining and updating a secured database of all the Authority’s
contracts/agreements, tracking their validity and periodically advising user
departments on contract/agreement expiry dates for appropriate and timely actions
(renewal with existing stakeholders, engagement of new stakeholders, etc.);
7) Continuous and periodic review of executed contracts to ensure effective contract
management;
8) Researching best practices on contract management and execution;
9) Leading and managing representation of the Authority in hearings in courts, tribunals
and other relevant forums;
10)Participating in litigation matters through research, compiling of evidence and
related business activities;
11)Undertaking any other duties as may be assigned from time to time.
Board Coordination
1) Preparing the calendar and budget for Board meetings and/or Board business
activities;
2) Coordinating logistics for planned Board meetings, induction, training and events for
Board members;
3) Undertaking preparation of Board Committee and Full Board meetings and producing
meeting minutes/resolutions in the absence of the Director in charge of Corporate
Secretary;
4) Liaising and coordinating with Directors/Managers for timely implementation of
Board resolutions;
5) Preparing draft routine correspondences on behalf of the Directorate in charge of
Corporate Secretary and Legal Affairs;
6) Facilitating an effective and efficient communication for the Board;
7) Undertaking legal research as and when required;
8) Coordinating travel logistics for Board members; and
9) 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) Master’s Degree in any of the following fields: Law, Business Law, Commercial Law or
any other field related to the position;
2) Professional qualifications in legal practices such as a valid certification from the
Rwandan Institute of Legal Practice and Development (ILPD) or its equivalent;
3) At least five (6) years of related work experience for the Senior Manager and five (5)
for the Manager; please attach evidence
4) Demonstrating skills in legal research, legal analysis, writing reports and documents;
5) Meet the requirements of the Statute governing the management of CMA staff.
6) Knowledge of capital markets is an added advantage

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.

POSITION 7. MANAGER- COMPLIANCE AND ENFORCEMENT
1.1. Job Purpose
Reporting to the Head of legal and Corporate Affairs, the Manager of Compliance and
Enforcement is responsible for carrying out compliance and enforcement functions to
preserve and sustain the integrity, fairness and efficient capital market and protect
investors’ interests.

1.2. Job Functions
1) Advising Management on compliance and enforcement strategy, systems, procedures
and programs to achieve protection of investors’ interest, enhance market integrity
and increase deterrence
2) Advising on the legal and regulatory gaps, and trends in violations, to inform policy
and regulatory reforms to ensure efficient and effective investor protection;
3) Developing compliance and enforcement strategy, systems, procedures and
programs to achieve protection of investors’ interest, enhance market integrity and
increase deterrence;
4) Develop capital market intelligence gathering frameworks;
5) Spearheading prosecutions, defence and administrative actions against regulated
persons in cases where the capital markets legal and regulatory framework has been
contravened;
6) Representing the Authority in hearings in courts, tribunals and other forums
7) Handle litigation and legal opinion matters for the Authority.

1.3. Manager – Compliance and Enforcement
1.3.1. Job Specifications
The duties and responsibilities entail:
1) Advising Management on compliance and enforcement strategy, systems, procedures
and programs to achieve protection of investors’ interest, enhance market integrity
and increase deterrence;
2) Advising on the legal and regulatory gaps, and trends in violations, to inform policy
and regulatory reforms to ensure efficient and effective investor protection;
3) Developing compliance and enforcement strategy, systems, procedures and
programs to achieve protection of investors’ interest, enhance market integrity and
increase deterrence;
4) Develop capital market intelligence gathering frameworks;
5) Spearheading prosecutions, defence and administrative actions against regulated
persons in cases where the capital markets legal and regulatory framework has been
contravened;
6) Representing the Authority in hearing in courts, tribunals and other forums
7) Handle litigation and legal opinion matters for the Authority;

1.3.2. Recognized Qualifications
For appointment to this position, a candidate must have:
1) Master’s Degree in any of the following fields: Law, Business Law, Commercial Law or
any other field related to the position;
2) Professional qualifications in legal practices such as a valid certification from the
Rwandan Institute of Legal Practice and Development (ILPD) or its equivalent;
3) At least five (6) years of related work experience for the Senior Manager and five (5)
years for the Manager; please attach evidence
4) Demonstrating skills in legal research, legal analysis, writing reports and documents;
5) Meet the requirements of the Statute governing the management of CMA staff.
6) Knowledge of capital markets is an added advantage

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.

POSITION 8. MANAGER –POLICY AND RESEARCH
1.1. Job Purpose
Reporting to the Head-Market Development, the Manager – Policy and Research is
responsible for undertaking market research and providing relevant and appropriate
research findings on fundamental economic subjects on 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.

1.2. Job Specifications
The duties and responsibilities entail:
Research and Business Development
1) Leading and developing market research methodologies and tools that will promote
a standardized methodology for all market research projects;
2) Leading the review of the research process, identifying areas for change and
managing such change together with the implementation of an ongoing monitoring
process;
3) Developing and maintaining a coherent CMA market research agenda attuned both to
internal and external needs and challenges that can inform, shape and align strategies
across CMA;
4) Overseeing research works, summarizing and presenting high-level
recommendations on a wide range of the issues or products or services and/or
challenges that have an ultimate impact on the performance of capital markets,
collective investment schemes, commodity exchange and related contracts,
warehouse receipts system, and any other market segments in Rwanda, as may be
assigned by the Law;
5) Coordinating, with internal and external stakeholders, the development of proposals
on new policies, systems and strategies to support the introduction of new products,
services, market infrastructure and innovations into 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;
6) Participating in and coordinating stakeholder engagement sessions to increase
uptake and design of new products and services based on established needs and
supervising the oversight of responses to stakeholders’ inquiries on issues about
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;
7) Guiding conduct of feasibility studies for new market products and services, and
making recommendations regarding their introduction and positioning in 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;
8) Designing research and undertaking surveys on existing market products, and
services, performance, characteristics and trends, business practices and financial
risks to inform product/service reviews for 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;
9) Facilitating research during the product development stage to assess responsiveness
to consumer requirements and inform modifications before rolling out;
10) Collecting market players’ feedback to inform improvements in new directions on
product development and uptake strategies;
11) Overseeing the collection and editing of capital market and other relevant market
segment statistics in Rwanda, within the East African Community (EAC) and beyond;
12) Overseeing the preparation and publication of regular updates on 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 i.e., quarter, bi-annual and annual market performance reports;
13) Liaising closely with other staff across the Authority to share knowledge and develop
expertise;
14) Preparing, monitoring and implementing Division budget and work plans;
15) Coordinating the design, launching and implementation of certification policies and
programs covering players in the capital markets;
16) Overseeing the planning, designing, and implementation of an operational and
institutional framework for market certification across the industry;
17) Overseeing development of certification requirements documents including content
such as training manuals, and industry best practices;
Policy Formulation and Analysis
1) Coordinating regular assessment of impediments to the development of 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; arising from inadequacies in policy and institutional arrangements and
recommend appropriate interventions;
2) Overseeing evidence-based policy analysis and formulation to support overall market
development and regulation of 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;
3) Developing and implementing strategies and programmes to ensure the adoption of
policy proposals on 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;
4) Develop periodic policy briefs and advisories to update stakeholders on the policy
positions of the Authority and its strategic partners to draw their support through
strategic influence;
5) Overseeing the periodic monitoring and evaluation of policy submissions and
periodic advocacy interventions and to facilitate stakeholder buy-in and adoption;
6) Overseeing the designing, development and implementation of strategies and
programmes for improving the policy framework to support continued
implementation of International Organization for Securities Commissions (IOSCO)
Principles and other international standards;
7) Coordinating the development and maintenance of policy frameworks for various
products, services and market infrastructure to accommodate market development
dynamics and/or outlook;
8) Establishing relationships with key policymakers within the Government and
Parliament (where relevant) to support efficiency in policy formulation and
development;
9) Acting as the key technical link and advocacy champion between the Authority with
relevant domestic, regional and international stakeholders from both the public and
private sectors concerning the policy development process;
10) Engaging with internal and external stakeholders to integrate policy and advocacy
into the Authority’s communications strategy;
11) Developing, coaching, motivating and appraising staff performance in the Division;
12) Undertaking any other duties as may be assigned from time to time.

1.3. Recognized Qualifications
For appointment to this position, a candidate must have:
1) Master’s Degree or bachelor’s degree in any of the following fields: Economics, Public
Policy, International Trade and Business, Law, Business Law or Commercial Law;
2) At least six (6) years of related work experience for the Senior Manager and five (5)
years of work-related experience for the Manager; please attach evidence;
3) Demonstrating skills in business/economic research, statistical analysis and public
policy,
4) Meet the requirements of the Statute governing the management of CMA staff.

1.4. 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; with strong collaboration,
negotiation, and teamwork skills.
4) Passion for research and development

POSITION 9. MANAGER – FINANCE AND ACCOUNTING
1.1. Job Purpose
Reporting to the Head – Corporate Services, the Manager – Finance and Accounting is
responsible for providing strategic financial advice and accounting management services
within the Authority; management, maintenance and reporting of financial data, the
monitoring of management controls and business processes to ensure compliance with
statutory requirements, standards, Government relevant policies, legal and regulatory
framework and business procedures as well as best practices. Its role also entails safe
custodianship and management of the Authority funds and Investor Compensation Fund
(ICF). The division is further responsible for the coordination of budgeting and planning
activities, annual and periodic activities report

1.2. Job Specifications
The duties and responsibilities entail:
1) Developing and implementing strategies and programmes to help execute the
mandate of the Finance and Accounting Department;
2) Coordinating financial reporting and maintenance of accurate financial records;
3) Overseeing data analysis and provide financial guidance to Management and the
Board for decision-making;
4) Engaging with process owners to ensure consistent application of value for money
principles in the conduct of the Authority’s business activities;
5) Maintaining and enhancing sound financial business processes and procedures,
systems and internal controls in compliance with accounting international standards
and industry best practices;
6) Coordinating the development, monitoring and review of the Directorates and
Authority’s operational budgets;
7) Coordinating both internal and external financial audits;
8) Managing the Authority’s payroll business processes and procedures;
9) Coordinating investments undertaken by the Authority including the Investor
Compensation Fund (ICF);
10)Overseeing cash flow management including collections and supplier payments;
11)Overseeing the maintenance of the asset’s registers;
12)Driving adoption of technology for enhanced efficiency for the Finance and
Accounting business activities;
13)Responsible for planning and tracking the execution of the Authority’s plans as set
out in the Authority’s strategic plan and industry development plans [Capital Market
Master Plan (CMMP), etc.]
14)Developing, coaching, motivating and appraising staff performance in the
Department;
15)Undertaking any other duties as may be assigned from time to time.

1.3. Recognized Qualifications
For appointment to this position, a candidate must have:
1) Master’s or Bachelor’s Degree in any of the following fields: Finance, Accounting,
Business Administration or any other field related to the position;
2) Professional qualifications in Accounting or Finance such as ACCA, CPA or CFA will be
an added advantage
3) At least five (6) years of related work experience for the Senior Manager and five (5)
years for the Manager, please attach evidence
4) If with professional qualification, membership in 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.

1.4. 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; with strong collaboration,
negotiation, and teamwork skills.

POSITION 10. DATABASE AND SOFTWARE DEVELOPER
1.1. Job Purpose
Reporting to the Head of Technology and Digital Innovation, the Database and Software
Developer is responsible for the development and management of the Authority’s
Information Technology (IT) applications and databases.

1.2. Job Functions
1) Providing technical assistance on all aspects of software and databases to the
Authority;
1) Undertaking software and database development projects at the Authority including
design, development, implementation and maintenance;
2) Working closely with business process owners to leverage technology to enhance the
infrastructure and support product innovation for 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
3) Identification and resolution of all IT-related challenges within the Authority.

1.3. Database and Software Developer
1.3.1. Job Specifications
The duties and responsibilities entail:
Software Development/Administration
1) Undertaking development activities for new applications by following the software
development lifecycle and ensuring thorough analysis, designing, coding, fault
rectification, unit testing, deployment, maintenance and appropriate documentation
and safeguards of source code;
2) Identifying the automation and process improvement opportunities in business
operations and leading in the development and maintenance of automation tools to
improve efficiency, especially within internal business processes and procedures
operations;
3) Supporting Departments/Divisions in reviewing, enhancing and sustaining the
automation of the entire scope of business processes and procedures operations for
internal and external purposes as well as for ease of continuous monitoring and
reporting;
4) Supporting process owners to develop tools to facilitate ease of procedural
compliance issues, and compliance with relevant legal and other statutory bodies;
5) Supporting /Departments/Divisions in the automation of business processes and
procedures including effective integration and usage of complementing
systems/applications
6) Development of the Application Programming Interfaces (APIs) for integration with
other systems from various stakeholders (market infrastructure systems, banking
systems, MNOs government systems, etc.)
7) Undertaking maintenance and ‘bug fix’ development activities for existing
applications;
8) Ensuring clear and early communication of progress, issues and difficulties;
9) Reviewing, analysing and documenting existing applications programs and programs
in development to ensure the efficiency and effectiveness of those programs;
10)Breaking down program specification into its simplest elements and translating this
logic into a programming language;
11)Develop and automate tests for software validation, and detect and fix bug issues.
12)Testing and proving that the system meets major architecture and quality
requirements;
13)Testing sample data sets to check that output from the program works as intended;
14)Conducting user-acceptance testing to ensure the program can be used easily and
quickly;
15)Implementing and documenting approved requests for application changes required
to meet new organizational needs in compliance with the change request policy and
guidelines;
16)Conducting feasibility studies on new application development and estimating
project timeline and costs;
17)Providing technical assistance to /Departments/Divisions in the development of bid
specifications for special software systems required to implement new programs;
18)Monitoring and ensuring application development milestones/goals are met and
adhering to approved budgets; and
19)Undertaking any other duties as may be assigned from time to time.
Database Administration
1) Writing database documentation, including data standards, procedures and
definitions for the data dictionary (metadata);
2) Mapping out the conceptual design for planned databases and considering both backend organization of data and front-end accessibility for end-users;
3) Creating complex query definitions that allow data to be extracted while controlling
access permissions and privileges;
4) Installing and testing new versions of the Database Management System and
customising existing applications to make them fit for purpose;
5) Updating and amending existing databases to ensure the security and integrity of
data;
6) Defining database physical structure and functional capabilities, database security,
data back-up, and recovery specifications;
7) Managing database software environment, monitoring server health database
growth, backup, tuning and patching; and
8) Undertaking any other duties as may be assigned from time to time

1.3.2. Recognized Qualifications
1) Bachelor or master’s degree in any of the following fields Computer Science,
Computer Engineering, Information Technology, Software Engineering or any other
field related to the position;
2) At least six (6) years of senior database and software developer and (5) years of
database and software developer-related work experience as a database and
software developer; please attach evidence;
3) Professional qualification/certification in Database and Software Development;
4) In-depth knowledge o