Higher Education Loans Board (HELB) – Chief Finance Officer (CFO).

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The Higher Education Loans Board, HELB, is the leading financier of higher education in Kenya. It is a State Corporation under the then Ministry of Higher Education, Science and Technology. HELB was established by an Act of Parliament (Cap 213A) in 1995.The mandate of the Board is to disburse loans, bursaries and scholarship to students pursuing higher education in recognized institution. HELB provides affordable loans bursaries and scholarship to Kenyans pursuing higher education. Key among the responsibilities of the Board is sourcing funds, establishing, managing and awarding loans bursaries and scholarships to Kenyans pursuing higher education in recognized institutions. Through the Act, the Board has been able to recover funds loaned out to Kenyans in the past. History The genesis of the Higher Education Loans Board dates back to 1952 when the then colonial government awarded loans under the then Higher Education Loans Fund [HELF] to Kenyans pursuing university education in universities outside East Africa notably Britain, USA, former USSR, India and South Africa. Students who were pursuing university education in universities outside East Africa and were not on scholarships were advanced loans by the then government against securities such as Land Title Deeds, Insurance policies and Written Guarantees. However by 1974, provision of education in general had expanded intensely as a result of the heavily subsidized primary and secondary education and the general yearning for education by most Kenyan families. 


Job Purpose:

Reporting to the Chief Executive Officer, Chief Finance Officer (CFO) is responsible for providing leadership in prudent financial management, planning and development of financial and operational strategy, regulatory and financial reporting of a balance sheet of over Kshs.93 Billion, formulation of an annual budget of over Kshs.19 Billion and efficiently managing Treasury Operations to generate annual income of over Kshs.90 Million from short-term placement by developing risk, internal control policies & procedures to preserve the institution’s assets, while ensuring alignment to the core mandate.

Key Duties and Responsibilities

  1. Overseeing the development and implementation of sound financial and accounting policies in compliance to the Constitution, Public Finance Management (PFM) Act 2012 and other relevant legal frameworks to enhance accountability and transparency, preparation of estimates of expenditure and revenues of the institution in conformity with the Strategic Plan and The National Treasury guidelines, formulation of the institutional annual budget of over Kshs.19 Billion to enhance planning and control of the institution’s finances appropriate financing of the institution’s operations;
  2. Overseeing the reporting of financial operations of the institution, devolved units and diaspora operations in accordance with the Public Finance Management (PFM) Act 2012, International Public Sector Accounting Standards (IPSAS) to ensure compliance, facilitating collaborations and partnerships with financial institutions for management of Institution’s funds and sponsorship of events that lead to cost management;
  3. Overseeing the valuation of the Institution’s assets worth over Kshs.1billion to ensure that they are fairly valued, development of appropriate key performance indicators to monitor and drive the financial performance of the institution, providing leadership and professional advice on all Financial Strategic Planning issues and supporting strategic initiatives to ensure that adequate resources are assigned for execution of the institution’s strategy;
  4. Overseeing the formulation and implementation of financial performance measures that support the Institution’s strategic direction to enhance performance, formulation of policy guidelines including risk analysis for short-term placements that generate returns of over Kshs.90 Million to achieve optimal returns, driving cashflow forecasting to ensure tracking of the expected cash movements over a period of time in the future and to ensure adequacy of financial
  5. resources;
  6. Overseeing the maintenance and strengthening of internal controls to prevent and detect fraud and corruption, development of the directorate’s Quality Management Systems (QMS) to streamline internal processes and ensure consistency in the day-to-day operational activities and providing leadership in the management of the institution’s assets worth over Kshs.93 Billion to ensure achievement of value for money in acquiring, utilization and disposal of the assets, improve cost efficiency and formulation of interdepartmental Service Level Agreements (SLA’s) to enhance service delivery;
  7. Overseeing the formulation and implementation of Directorate work plan to ensure efficient and effective execution of Institutional strategy, spearheading the implementation of the Enterprise Risk Management framework for governance and risk compliance within the Directorate and participating in Association of African Higher Education Financing Agency (AAHEFA) finance committee for bench marking on best practices;
  8. Driving key roles in various committees in the Institution to realize corporate objectives, overseeing the development of financial statements with a balance sheet of over Kshs.93 Billion that comply with requirements of The National Treasury and International Public Sector Accounting Standards (IPSAS), ensure the information communicated to the public fairly portrays the position of the institution and translating strategy into actionable goals for performance
  9. and growth, ensure implementation of Institution-wide goal setting, performance management and directorates’ action plan;
  10. Overseeing implementation of accounting and operational standards to ensure adherence to best practices and relevant laws and regulations, driving development of accounting systems which ensure that all financial and accounting records are adequately protected, backed up thus enhancing the integrity of the institutions financial information and directing the implementation of annual business plans to ensure that they are in line with the Institution’s strategic
  11. plan;
  12. Spearheading the generation of short-term placement proposals to optimize returns and balance sheet growth, coaching and mentoring strategies to unlock staff potential to boost productivity, overseeing all expenditure incurred by the entity to ensure compliance with the Public Finance Management PFM Act 2012 and overseeing the development and implementation of financial and tax management strategies to ensure tax efficiency and Overseeing the directorate people management to ensure succession planning, monitor performance and build working teams and participating in key decisions as a member of the senior management team on financial matters.

Minimum Qualifications

  1. Bachelor’s Degree in Business related field such as Commerce, Accounting and Finance or its equivalent from a recognized institution;
  2. Master’s Degree in a business-related field such as Commerce, Accounting, Finance and equivalent qualification from a recognized institution;
  3. Certified Public Accountant of Kenya (CPAK)or Association of Chartered Certified Accountants (ACCA) or Certified Financial Analyst (CFA);
  4. Member of Institute of Certified Public Accountants of Kenya (ICPAK) or any other relevant professional body and in good standing;
  5. At least fifteen (15) years’ relevant work experience five (5) of which should be in a senior management level in a comparable institution.

Method of application

If you believe you can clearly demonstrate your abilities to meet the criteria given above, please send your application, copy of identity card, detailed Curriculum Vitae, relevant copies of testimonials certificates, daytime contact, and contacts of three referees, to reach the office of the Chief Executive Officer to P.O Box 69489 – 00400, Anniversary Towers, 18th Floor, Nairobi or email to recruitmentcfo@helb.co.ke not later than 6th April, 2021.

Shortlisted candidates shall be expected to prove their compliance with Chapter 6 of the Constitution of Kenya, 2010 by obtaining and presenting the documents during interview clearance/compliance certificate from the following organizations:

  1. Kenya Revenue Authority;
  2. Higher Education Loans Board;
  3. Ethics and Anti-Corruption Commission.
  4. Directorate of Criminal Investigations (Certificate of Good Conduct) and;
  5. Credit Reference Bureau.

HELB is an equal opportunity employer. Persons with disabilities are encouraged to apply.
Only successful candidates will be contacted




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