Dr. Olaka is the Chief Executive Officer of the Kenya Bankers Association (KBA), an appointment he took up in October 2010. He is responsible for the strategic direction of the Association, covering industry advocacy, development and sustainability. 

Previously he was the Director of Operations of the East African Development Bank (EADB) based in Kampala after serving as the Resident Manager in Kenya. He earlier served the bank as the Head of Risk Management and as the Chief Internal Auditor. Before joining the Bank, he had been with Banque Indosuez (now Bank of Africa) as the Internal Auditor. He started his career at the PricewaterhouseCoopers, Nairobi in the Audit and Business Advisory Services Division.  

He sits on a number of boards representing the KBA. These are the Kenya Private Sector Alliance, Kenya School of Monetary Studies, Higher Education Loans Board, Federation of Kenya Employers, Centre for Corporate Governance and the National Research Fund.  

He holds a Doctorate of Business Administration from USIU-Africa, a First Class Honours BSc degree in Electrical Engineering from the University of Nairobi, and an MBA in Finance from the Manchester Business School in the UK. His PhD study was on the influence of strategic leadership on the implementation of strategy in the commercial banks in Kenya. 

He is a member of the Institute of the Certified Public Accountants of Kenya (ICPAK) and the CFA Institute. He is an alumnus of the Strathmore School of Accountancy and has a good command of the French language.