Richard has worked in variousRichard has worked in various Departments in the Bank of Tanzania from 1989 up to 1994 during the Exchange Control regime. From 1994 to 2009 worked as Bank Examiner in the Directorate of Bank Supervision in the Bank of Tanzania raising from the rank of Bank Examiner to Senior Bank Examiner and later on Principal Bank Examiner mainly responsible in the preparation and review of Prudential Regulations and participation in off-site and on-site examination of licensed banks and financial institutions.
From 2009 to March, 2018, he has been serving as Manger Finance and Administration in the Deposit Insurance Board of Tanzania responsible in managing the Deposit Insurance Fund which involve assessment and collection of premium from member institutions, prudent investment of the Deposit Insurance Board financial resources and reimburse depositors of failed bank or financial institution in accordance to the provision of the law. He is responsible in the preparation of Deposit Insurance Board annual budgets and in managing its smooth implementation. He is also responsible in managing other Deposit Insurance Board assets and the preparations of its Annual Financial Statements.
Following the retirement of the Director, Deposit Insurance Board in March, 2018, he was appointed to act at the capacity of Director Deposit Insurance Board of Tanzania where he has been serving as an overall in charge of the institution answerable to the Board of Directors. During this tenure he managed to successfully precede the payout exercise of seven banks whose license was revoked by central bank in 2017 and 2018. The same institutions have been put under liquidation and the Deposit Insurance Board has been appointed as its liquidator. Both exercises are still going on.