Job title Location Principal Officer Argus Money Purchase Pension Fund & the Argus Provident Fund Cape Town The Fund management wants to appoint a fit and proper Principal Officer The Principal Officer is the Executive Officer of the Funds and acts as an extension of the Board to: Purpose of the role keep the Board of Trustees ( the BoT ) sufficiently and timeously informed of the affairs of the Funds which relate to the duties of the Board as stated in sections 7C and 7D of the Pension Funds Act; at all times, observe the authority of the Board and its governance of the Funds; ensure that the decisions and instructions of the Board are executed within the timeframes agreed to; where necessary, ensure proper and appropriate communication between the Funds and those parties affected by the decisions and instructions of the Board; carry out all of his or her duties for the proper execution of the business of the Funds; organise and attend all meetings of the Board and any other duly appointed sub-committee where his or her attendance may be required, and ensure proper recording of the proceedings of all meetings; ensure the timeous submission of all statutory requirements and returns as required by the Registrar of Pension Funds. Key responsibilities (Direct) Statutory duties: signing of all documentation that must be sent to the Registrar of PF; Administrative duties: meeting facilitation and management in conjunction with Consultants; continual review of all service providers contracts and ensuring/overseeing any tender processes that could be instituted; compile the framework and mandate for sub committees, based on board decisions, and facilitate implementation; monitoring and keeping minutes of all sub committee meetings and processes; guide the administration process of electing member trustees and nomination of employer trustees and post election trustee administration and training; handle member complaints;
act as representative of the Fund in all legal proceedings Management duties: guide the Communication sub-committee and monitor and report on the implementation of communication activities in respect of the mandates and Fund s requirements; develop operational plans to facilitate the execution of the Fund s policies / responsibilities / Board of Trustee decisions. Includes objective setting and operational planning and contracting with service providers; monitor service providers / monitor execution of operational plans / implementation of decisions made at BoT meetings Leadership duties: work with the Chairperson to provide guidance and advice with regard to a vision and the direction for the Fund and/or unit to Board; along with the Chairperson manage and empower BoT; Stakeholder relationship management: act as spokesperson for the Fund where mandated by the BoT; effectively liaise with service providers, beneficiaries and BoT; liaise between the BoT, the Registrar of PF, SARS and Industry Bodies to ensure an open and cooperative relationship; liaise with the administrative functions of the sponsoring employer; ensure that adequate and appropriate information is communicated to the members of the Funds, regarding their rights, benefits, contributions and duties in terms of the rules of the Funds;
Key responsibilities (Indirect manage and oversee the Fund Consultants) Statutory duties: monitoring payment of contributions; certifying that information provided for purposes of a valuation is complete and correct; relevant documents are submitted to the Registrar; communicate any alterations, rescissions of or additions to the rules of the fund to members ensure that professional indemnity insurance and fidelity guarantee insurance is taken out and maintained as required for the adequate protection of the Board and the Fund Administrative duties: facilitate the availability of and administer all contracts and agreements with service providers; document policy decisions and compile policies and procedure manuals; document and information management in conjunction with Consultants; Management duties: compliance audits; trustee training; availability of proper accounts of the Fund to the Board and FSB; availability of proper registers, books and records of all operations of the Funds and proper minutes are kept of all resolutions passed by the Board; the contributions are paid over to the investment manager for investment; the distribution of bi-annual benefit statements and investment choices to members; the distribution of death, disability and general benefits and the payment of transfer and withdrawal benefits;
Fund demographics The Fund is a defined contribution fund (pension & provident funds to be merged next year) Participating employers are Independent Newspapers & Associate companies Members Active 1321, deferred 61. No unclaimed benefits Fund Account R1bn Official Board meetings 4 + sub-committee meetings if required Service Providers - investment consultants, investment managers, fund consultants and actuary Self administered Qualifications B.Comm or commercial qualification with a legal background or LLB or B.Proc Degree Experience 5 years management level experience in retirement funds; experience of administration systems and disciplines at managerial level will be an advantage Knowledge Detailed knowledge of pension fund law and regulations Detailed knowledge of pension fund governance Skills (personal and interpersonal) confidence and decisiveness; pro-activeness adhering to principles and values; relating and interacting to others; persuading and influencing; presenting and communicating information; writing and reporting; applying professional / specialist expertise; information gathering and problem analysis; judgment; planning and organising; quality and detail orientation; co-ordination and control; team player. Regulatory Requirements This appointment is contingent upon the Financial Services Board not objecting to the appointment of the person as the Principal Officer to the Fund. The objection will be based on whether or not the appointee is deemed to be fit and proper by the Financial Services Board as set out in section 8 of the Pension Funds Act.
Applicants must complete the Annexure B as required by the Financial Service Board s Directive 5 when applying for the position of Principal Officer. Applicants must complete and sign a Police Clearance form (Annexure B) How to apply Applicants must provide the following additional information: Copy of your identity document, Proof of qualifications Additional details of your work experience or supporting CV Closing date: 15 January 2016 Where to submit your application If you are interested in applying for this role, your application should reach the The Board of Trustees, Argus Money Purchase Pension Fund & the Argus Provident Fund by not later than at 17:00 Enquiries: Saloshini Savrimuthu (HR Manager) TEL: 031 3082719 FAX: E-mail: retirementfund@inl.co.za