Higher Education Loans Board Chief Finance Officer Jobs in Kenya

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 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;

• 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;

• 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;

• 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 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 Agreements (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 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;

• 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 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 implementation of annual business plans to ensure that they are in line with the Institution’s strategic plan;

• 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

• 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 equivalent 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;

• Management Development Program lasting not less than (4) weeks from a recognized institution.

• At least fifteen (15) years’ relevant work experience five (5) of which should be in a senior management level in a comparable institution.

How to Apply

For more information and job application details, see; Higher Education Loans Board Chief Finance Officer Jobs in Kenya

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