Organisation review for Higher Education Loans Board as a measure for development of operational efficiency in providing and managing student loans portfolio
The Higher Education Loans board is a state corporation established in 1995 through an Act of Parliament Cap 213A of the laws of Kenya. The Board was facing challenges which continued to dog down its intended achievements mainly in satisfying the increasing demand for higher education; satisfying the students expectations; managing and maintaining a credible public image; increasing unemployment levels among loanees and hence retarding the loan repayment and recovery efforts; maintaining an accurate data base for timely decision making; maximising the recovery of outstanding loans; mobilization of funds; managing and minimising risk of loss of funds due to national low life expectation; promoting institutional team work and internalisation of corporate values; coping with economic and social dynamics; and transforming the Board into a self-sustaining and autonomous institution with a potential of administering a revolving fund. The assignment therefore was to undertake a comprehensive organization review covering the legal framework, the lending and recovery systems, the accounting and financial systems, the human resource management; and the ICT. The assignment covered:
- Review the organization capacity focusing on the legal framework and the Board’s continued relevance as a financier of higher education in Kenya;
- Designed financial instruments, that are adequate for sourcing of funds from various markets, and at the same time assess and put in place appropriate loan management systems;
- Assessed the optimal institutional and human resource capacity of the Board to fulfil its mandated; review the accounting and financial management systems including adequacy of the reporting system in place;
- Undertook a comprehensive human resources management review including job analysis, job descriptions, job grading, remuneration review and development of the staff appraisal development and appraisal manual; and
- Reviewed and established the level of the Board’s systems and programs computerization and propose possible improvements to the current ICT systems.