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Independent Trustee (2 Vacancies)

Vereeniging Vereeniging Emfuleni, South Africa
Closing date
Jun 24, 2024

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Job Role
Contract Type
Full Time
The Funds are multi-employer umbrella funds with their participating employers being employers in the metal and engineering industries. The Funds are administered by the Metal Industries Benefit Funds Administrators (MIBFA).The Funds provides retirement, withdrawal, death, permanent disability, and MEIBC Sick Pay benefit to their members. There are approximately 250 000 contributing members for both funds and R143 394m in combined assets. (is this as at 2024)The Independent Trustees will be remunerated by the Funds and paid a market-related fee for participation in the Board of Trustees., as well as any other applicable committees.
RESPONSIBILITIESMust demonstrate and be able to communicate an understanding, knowledge of and experience in the latest developments in the retirement funds and financial services sector.Must demonstrate high level competence and skills in problem-solving, communication and ability to understand complex fund matters.Must demonstrate the capacity to devote the required time to funds business and meetings.Must demonstrate an intricate understanding of the requirements of managing, controlling and overseeing the operations of a retirement fund.Will be able to provide sufficient time, expertise and resources to the fund at the cost agreed to by the current Board and continue to do so for so long as the person remains a member on the board. MINIMUM REQUIREMENTSBachelor's degree or equivalent (NQF level 7) in Finance, Investments, Commerce or Law.Knowledge of the Pension Fund Act, Income Tax Act, FICA, and other relevantMust have at least five years direct experience in the retirement funds industry at a senior Must have completed the latest 2024 FSCA Trustee Toolkit and started Phase II.He/she is free from any relationships that could, in the opinion of a reasonable and informed external party, be considered as something that would affect his/her ability to perform functions in accordance with section 7C(2) of the Pension Fund Act.He/she has not, in the previous ten years, been expelled from any professional body of which he or she was a member, or which was entitled to exercise disciplinary powers over him or her.He/she must be independent of all and any parties to the Funds, the administrators and the participating employers/members.He/she has not been employed by or derived any income from the Funds in the last five (5) years.Has not been convicted of any offence involving dishonesty, theft, fraud, forgery, issuing a forged document, misrepresentation, and/ or breach of any fiduciary duty.Independent Trustees are not contracted as consultants or service providers to the fund of which they are trustees.A cover letter explaining their suitability for and value-add to the role.A comprehensive curriculumContactable character references from at least two persons who you have worked for (Please ensure as part of POPIA - that you have their contact/reference permission).Certified copies of all qualifications (Within the last 3 months).Certified (Within the last 3 months) copy of completion of the latest Financial Sector Conduct Authority ("FSCA") Trustee

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