The Kenya Deposit Insurance Corporation (KDIC) on December 2, appointed Hellen Chepchumba Chepkwony as the new Chief Executive Officer (CEO) in an acting capacity.
According to a statement seen by Kenyans.co.ke, the banking insurance regulatory announced that it had tapped the services of the current manager at the Central Bank of Kenya.
The appointment of Chepkwony follows the expiry of the current CEO's term after six years at the helm of the organization.
“Chepkwony takes over the leadership of the institution from long-serving CEO Mr. Mohamud Ahmed Mohamud, pending recruitment of a substantive office holder,” read part of the statement.
The statement indicated that she is expected to hold the office as the Board of Directors continues with the search for a substantive office holder.
The Masters of Art (Economics) graduate from the University of Nairobi is currently pursuing a Ph.D. in Applied Economics at Kenyatta University.
Furthermore, KDIC indicated that it had already contracted a recruitment agency to help with the recruitment of Mohamud's successor.
"The Board has since invited applications from suitable and interested candidates for the position of CEO," the statement revealed.
According to the Kenya Deposit Insurance Act, 2012, the CEO of KDIC is required to serve a maximum of two terms with each term running for three years.
KDIC is a state corporation mandated to, among other things, ensure the financial stability of banks and other institutions in the banking sector.
It also provides deposit insurance for customers of member financial institutions.
One of its main mandates is to protect depositors of banks that are licensed and regulated by the Central Bank of Kenya.
