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Mr. Olaka is the Chief Executive Officer of the Kenya Bankers Association, an appointment he took up in 2010. Previously he was with the East African Development Bank (EADB), where he held various positions, including; Director of Operations, Resident Manager-Kenya, Manager-Risk and Control, Chief and Internal Auditor. He has also worked at Banque Indosuez (now Bank of Africa) as an Internal Auditor having started his career at Price Waterhouse Coopers, Nairobi.

Mr. Olaka holds a First Class Honours BSc degree in Electrical Engineering from the University of Nairobi, MBA in Finance from Manchester Business School in the UK and a Doctorate degree in Business Administration from USIU-A.

Mr. Olaka sits on a number of boards, among them, the Higher Education Loans Board, the Kenya School of Monetary Studies, Kenya Deposit Insurance Corporation, the Federation of Kenya Employers, the Centre for Corporate Governance,

Boards of Trustees of the National Research Fund and the Butere ACK Diocese.

He is a member of the Institute of the Certified Public Accountant (CPA) Kenya and the Chartered Financial Analyst (CFA) Institute.