#7
ANDREW MUNYAO
CFO – SBM BANK KENYA
For the seven years that Andrew Munyao has been Chief Finance Officer (CFO) at SBM Bank Kenya, he has effectively managed the financial affairs of the bank, formulating and executing bank strategy, and overseeing statutory regulatory affairs and tax management.
His role has been fundamental in the bank’s culture transformation program, and his participation in various board committees highlights his comprehensive approach to leadership and management.
With a career spanning three decades in the financial landscape, Andrew’s journey has been a hallmark of significant achievements, including his leadership in the successful management of Chase Bank (In Receivership) between January 2017 and July 2018, and eventual transition of the institution to SBM Bank Kenya. His leadership during this period was characterised by a focus on preserving the bank’s assets, safeguarding depositors’ interests, and restoring liquidity and governance.
Apart from Chase Bank (In Receivership), Andrew has successfully led the formulation and execution of turnaround strategies for six other institutions and provided crucial support in the incubation of several start-ups. Over the decades, his extensive involvement in reviving various businesses has enabled him to accumulate a wealth of expertise in developing and implementing effective turnaround strategies.
Andrew’s formative years were spent at St. Charles Lwanga School and Lenana School, where he excelled academically, earning distinctions in his Kenya Certificate of Education (KCE) and Kenya Advanced Certificate of Education (KACE). Even then, his disciplined approach to life was evident; he meticulously planned each day of the semester, adhering precisely to his schedule from beginning to end.
This discipline carried through to his later years at Kenyatta University (KU), where he graduated with First Class Honours, earning a degree in Bachelor of Commerce (BCom), Accounting option. His academic prowess was complemented by his ability to manage his time and tasks effectively, a skill that would become a cornerstone of his professional life.
Inspired by Nelson Mandela’s selfless, purposeful, and charismatic leadership, Andrew developed his own leadership model, underpinned by strategy, systems/processes, and people. He believes that true transformation begins by thoroughly understanding the current situation of the institution – including its strategy, processes/procedures, and people. With this understanding as a foundation, one must clearly formulate the desired north star for the institution and the strategy required to achieve it. Once the north star is firmly established and the strategy to reach it is in place, the next critical step involves aligning people with the strategy, focusing on the right competencies and mindsets.
His passion for developing young talent into seasoned professionals has also driven him to create a structured career development model based on three core pillars: experience, education and training, and personality. The model is summarized below:
“Experience empowers one with the wisdom to perform efficiently in a role; education/training provides the necessary technical skills, while a person’s personality cuts across all aspects of their career. Passion for the job is significantly influenced by how well an individual’s personality matches the attributes required for the role. Each individual operates within a unique career environment, where the parameters at play can be categorised into enablers, drawbacks, or temptations. How clearly one understands and responds to these parameters will influence the stability and rate of growth in their career,” Andrew said, referring to the career development model.
Reflecting on his own journey, Andrew credits his astute leadership style – particularly being decisive and firm in his convictions – as instrumental in propelling him to success. Outside of his professional life, he remains deeply committed to social responsibility initiatives, offering career guidance to upcoming professionals and students, and serving as a patron for various youth and community groups.
“My vision for SBM Bank Kenya is to create a resilient, innovative, and customer-focused institution capable of navigating the challenges of the modern banking landscape while contributing positively to the community and the environment. I have set a personal target of seeing the bank surpass KES 1 billion in annual profitability within the next year,” he commented, adding that he is dedicating time to nurturing talent, developing leaders, and cultivating a culture that drives performance, productivity, and sustainable growth.
AUTHOR: SBM BANK KENYA
EDITOR: HILDA NTHENYA
