Deputy Principal Officer

Corporate Selection Suite of Umbrella Funds

The Corporate Selection Suite of Umbrella Funds (the Funds) is one of the big 5 largest commercial umbrella retirement funds in South Africa. The Funds, consisting of 2 provident funds and one pension fund, have a combined membership more than 267 000 members with assets under management exceeding R37.5bn.

A vacancy now exists for a full-time independent Deputy Principal Officer in the Office of the Principal Executive Officer, based at the Liberty offices in Braamfontein, Johannesburg. The independent Deputy Principal Officer reports directly to the Principal Executive Officer and the Chairperson of the Board.

The position will be ideal for an experienced, ambitious and high performing individual who wants to take up the governance challenges that a large underwritten commercial umbrella fund structure offers.
As Deputy Principal Officer of the Funds, it will be your task to assist the Principal Executive Officer to oversee the implementation of risk-based management strategies, provide executive and operational support to the Principal Executive Officer and the Board of Trustees with particular emphasis on, but not limited, to the following:

Key focus areas of the Position

• Responsible for executing the instructions of the Board of Trustees;

• Assume the appointment of Deputy Information Officer of the Funds and fulfil all related duties and responsibilities as required by the Information Regulator and/or delegated by the Funds’ Information Officer;

• Assist the Principal Executive Officer by managing and overseeing that section 14 transfers are administered by the Funds’ Administrator in compliance with the relevant Conduct Standard to ensure that obligations to members are met;

• Assist the Principal Executive Officer with the Funds’ complaints management process, review and approval of responses to complaints;

• Assume signing responsibilities as delegated, which includes the review of information for correctness;

• Fulfil the duties and statutory responsibilities of a Monitoring Person as required in terms of section 13 A and Regulation 33 of the Pension Funds Act;

• Promote good corporate governance in all matters relating to the Funds;

• Assist the Principal Executive Officer with the review of meeting minutes and managing action items and deliverables;

• Ensure that the Funds’ annual communication plan is compiled and all communication deliverables and interventions implemented;

• Ensure that agreements and contracts with service providers are in place, complete, up to date and reviewed, as well as the associated management thereof;

• Assist the Principal Executive Officer with the Funds’ budgeting process, expense management and reporting to the Board;

• Assist the Principal Executive Officer to oversee the daily operations of the Funds and execution of Board decisions, facilitating the process to empower the Trustees to perform their duties;

• Ensure that the Funds comply with the formal requirements of the law, including directives from the Financial Sector Conduct Authority (the FSCA), South African Revenue Services and any other relevant regulatory authority.

Experience and Qualifications required

• Relevant tertiary qualification. The following would be advantageous:

o A post graduate degree in commerce or relevant law;
o Principal Executive Officer qualification;
o Knowledge of fund administration relating to umbrella funds comprising of multiple participating employers.

• At least 5 years’ experience as a Principal Officer in a fund of a similar nature and/or a fund comprising of multiple participating employers, an employee benefits consultant or manager of funds.

• Understanding, knowledge and experience of the Retirement Fund industry.

• Experience in dealing with people in formal and informal work environments, with the ability to engage collaboratively with staff of the Funds’ Administrator over whom you have no direct authority, to execute tasks and actions assigned to them by the Board and Sub-committees.

• Computer literate in MS Office and related packages with a high level of competence in Word, Excel, PowerPoint, Email, Microsoft Teams and Internet.
Attributes of the individual

• Preference will be given to affirmative action candidates or designated groups.

• Competence and soundness of judgement in carrying out responsibilities;

• Diligent in the fulfilment of the Deputy Principal Officer and Information Officer responsibilities;

• Must be self-motivated as the person will be working in a core team and will need to take personal responsibility for completing tasks in an acceptable manner and will have to perform such functions as delegated by the Principal Executive Officer;

• Be comfortable in establishing relationships with the Funds’ service providers;

• Be prepared to subject themselves to peer review;

Regulatory requirements

This appointment is contingent upon the FSCA approving the appointment of the person as the Deputy Principal Officer to the Funds. The approval will be subject to whether or not the appointee is deemed to be fit and proper by the FSCA.

The applicant cannot have been found guilty of any of the following:

a. Theft, fraud, forgery or uttering a forged document, perjury, an offence under the Prevention and Combating of Corrupt Activities Act, 2004 or an offence under the Prevention of Organised Crime Act, 1998, or any offence involving dishonesty.

b. Committing an offence after the Constitution of the Republic of South Africa took effect where there was no option of a fine;

c. Contravening the provisions of any law the object of which is the protection of the public against financial loss;

d. Contributed by his/her actions to a loss being suffered by the members of any Fund and/or the inability for any Fund to meet its debts;

In addition, the Commissioner of the FSCA will reject the appointment if in the opinion of the Commissioner the appointee has been engaged in business practices which in the opinion of the Commissioner, were deceitful, prejudicial or otherwise improper (whether unlawful or not) or which otherwise casts doubt on the appointee’s competence and soundness of Judgement.

Process requirements

To apply, all submissions must be emailed to Louisa Visagie at to reach her by no later than 17h00 on 13 August 2021, clearly indicating the following:

• Expected remuneration package; and
• Details of your work experience and supporting CV

The shortlisted applicants will be contacted and requested to attend an on-line interview process.



• Attending to all telephonic and email queries.
• Distribution of notices, invitations, etc. to members of the Association and other parties on distribution list.
• National Steering Committee Meetings and AGM– set up meetings, agree agenda with the Chairperson, and circulate to members together with minutes of previous meeting and documents relevant to the agenda.
• Taking of minutes
• Ongoing liaison with committee members.
• Maintaining & updating the events year planner.
• Maintaining & updating the electronic minute books.
• Updating the constitution with changes approved at the Annual General Meeting.
• Advising the website administrator of annual changes i.r.o. committees, contacts etc.
• Forwarding advertisements to be placed on the website, invoicing the advertiser, and ensuring their removal on expiry.
• Obtaining approval from the Exco committee of invoices for payment.


• Processing of new membership applications and referring these to the NSC in need.
• Ensuring applicants are advised of the outcome of their applications.
• Receiving updates of members’ data, and maintaining a membership database.
• Maintaining e-mail distribution lists in respect of functions, seminars for future use.
• Preparation and e-mailing of annual membership invoices to Members of the Association.
• Reconciliation of deposits received
• Follow up on outstanding membership fees.
• Booking of flights and accommodation for NSC committee meetings and arranging transport to the venue as required.


• Management and co-ordination of seminars and webinars.
• Managing Zoom account and scheduling events
• Identifying and booking of venue, catering and equipment.
• Assist Committee member responsible for seminars with the preparation of advertising and program
• Booking flights & transport for speakers as needed.
• Arranging speaker gifts if required
• Distribution of notices by way of e-mail to members and distribution lists.
• Preparation of invoices, and e-mailing thereof to attendees, if payment is required.
• Monitoring payment of seminar fees – where applicable
• Preparation of name tags for delegates.
• Setting up of the PLA banners, registration table and placing of feedback forms.
• Managing registrations and attendance at the venue.
• Preparation, distribution and collation of feedback.
• Arranging the updating of website with presentations from seminars, and notifying delegates.


• Reconciliation of Bank Accounts
• Electronic Payment of invoices as authorised by the Exco committee.
• Reconciliation of debtor and creditor accounts
• Posting to Ledgers of all:
a) Payments and receipts and other entries to the Bank Accounts
b) Invoices issued (mainly membership, conference and seminar fees).
c) Invoices received from suppliers.
d) VAT inputs and outputs
e) Provisions and accruals
f) Auditor’s adjustments
g) Entries related to the Annual Conference (scope to be part of a separate contract)
• Preparation, reconciliation and submission to SARS of VAT return every second month.
• Depositing of any cheques or cash received.
• Preparation of the annual budget.
• Preparation of monthly management accounts for the NSC.
• Preparation of accounts to Trial Balance stage for end of year audit.
• Review of draft Annual Financial Statements


• Management and co-ordination of the Annual Conference will be a separate contract, which may be with a third-party provider.