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The Higher Education Loans Board (HELB) was established in 1995 through an Act of Parliament CAP 213A of the laws of Kenya. The mandate of HELB is to source for funds and provide financing (through loans, scholarships and bursaries) to Kenyans pursuing higher education in institutions of higher learning in and outside Kenya as recognized by Commission for University Education (CUE) and/or the Technical, Vocational Education and Training Authority (TVETA), and recover funds loaned to create a National Revolving Fund. HELB is an innovative institution in the education sector whose focus is to leapfrog how Financing higher education is executed in Kenya by amalgamating public and private sector resources in the country.

HELB is seeking to recruit competent, self-driven individuals with an innate dynamism towards the success and fulfilment of HELB’s mandate and objectives. The successful persons to fill the positions will join a highly performing team should not only be passionate, innovative, and qualified but also, be of high integrity, highly competent, have high dependability and high emotional intelligence, excel- lent interpersonal & communication skills, self-driven with innate dynamism and able to demon- strate strong leadership skills.


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 

  • Overseeing the development and implementation of sound financial and accounting policies in compliance to the Constitution, Public Finance Management (PFM) Act 2012 and other rele- vant 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;
  • Overseeing the reporting of financial operations of the institution, devolved units and diaspo- ra operations in accordance with the Public Finance Management (PFM) Act 2012, Interna- tional Public Sector Accounting Standards (IPSAS) to ensure compliance, facilitating collabora- tions and partnerships with financial institutions for management of Institution’s funds and sponsorship of events that lead to cost management;
  • Overseeing the valuation of the Institution’s assets worth over 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 ad- vice on all Financial Strategic Planning issues and supporting strategic initiatives to ensure that adequate resources are assigned for execution of the institution’s strategy;
  • Overseeing the formulation and implementation of financial performance measures that sup- port the Institution’s strategic direction to enhance performance, formulation of policy guide- lines 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 ex- pected cash movements over a period of time in the future and to ensure adequacy of financial resources;
  • 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 Agree- ments (SLA’s) to enhance service delivery;
  • Overseeing the formulation and implementation of Directorate work plan to ensure efficient and effective execution of Institutional strategy, spearheading the implementation of the En- terprise Risk Management framework for governance and risk compliance within the Direc- torate and participating in Association of African Higher Education Financing Agency (AAHEFA) finance committee for bench marking on best practices;
  • 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 Bil- lion that comply with requirements of The National Treasury and International Public Sector Accounting Standards (IPSAS), ensure the information communicated to the public fairly por- trays the position of the institution and translating strategy into actionable goals for perfor- mance and growth, ensure implementation of Institution-wide goal setting, performance management and directorates’ action plan;
  • 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 imple- mentation of annual business plans to ensure that they are in line with the Institution’s strate- gic plan;
  • Spearheading the generation of short-term placement proposals to optimize returns and bal- ance 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 implementa- tion of financial and tax management strategies to ensure tax efficiency and
  • Overseeing the directorate people management to ensure succession planning, monitor per- formance and build working teams and participating in key decisions as a member of the sen- ior management team on financial


  • Bachelor’s Degree in Business related field such as Commerce, Accounting and Finance or its equivalent from a recognized institution;
  • Master’s Degree in a business-related field such as Commerce, Accounting, Finance and equiv- alent qualification from a recognized institution;
  • Certified Public Accountant of Kenya (CPAK)or Association of Chartered Certified Accountants (ACCA) or Certified Financial Analyst (CFA);
  • Member of Institute of Certified Public Accountants of Kenya (ICPAK) or any other relevant professional body and in good standing;
  • At least fifteen (15) years’ relevant work experience five (5) of which should be in a senior management level in a comparable
  • Leadership course lasting not less four (4) weeks from a recognized institution.

How to Apply

Detailed job requirements, duties and responsibilities for this position are accessible online through HELB’s or jobs portal.

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 not later than 6th April, 2021.

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