A. THE HELB PARTNERSHIP MODEL:
To ensure that the students do not get bogged down and miss out on enrolment due to administrative delays, HELB has established a process for a new partner fund that is flexible depending on a fund partners’ specific needs and objectives. For example, partners may opt to establish scholarship schemes, a revolving fund or a hybrid of a scholarship and a loan.
B. ONBOARDING & ENGAGEMENT:
HELB has a robust Engagement and Onboarding process for Partners that is not only flexible, but also tried and tested.
1. PROPOSAL EVALUATION AND PRELIMINARY MEETING
HELB sends out proposals to prospective partners on the potential ways that they can develop partner funds and also receives propos- als from potential partners. Meetings are then held with the partners to evaluate the funding intent and ensure that expectations on both parties are clarified. During these meetings, the partners explore ways through which HELB can offer value through its extensive database and fund administration approach.
2. SERVICE CONTRACT DEVELOPMENT
HELB and the fund partner jointly prepare a draft service contract that outlines roles and responsibilities of each party, and the fees applicable for administering of the fund, target beneficiaries and other matters pertaining to the fund. Once a service contract is agreed upon, it is duly signed, and product is launched.
3. FORMATION OF A TECHNICAL WORKING GROUP [TWG]
A Technical Working Group is formed with representation from the partner and HELB to operationalize the scheme. Formal appoint- ment letters are issued by HELB and the funder on appointments to the TWG. The role of the TWG is to develop a road map and work on the activities to ensure operationalization of the fund. The TWG also ensures proper governance, accountability, transparency of funds, and ensures the partner is well involved in the management of funds. The partner nominates the chair of the TWG while HELB nominates the secretary.
4. TRANSFER OF FUNDS
a) HELB shares official communication on their bank details for transfer of funds
b) Funds are transferred to HELB.
c) An account for the partner is opened in the HELB system and the funds transferred are allocated to the partner
d) The product is also set up in the HELB system as per the agreed terms on service contract.
e) Transfer of funds to support the fund continues for the agreed partnership period or until the fund is self-sustaining from recoveries.