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EDUCATION, TRAINING AND DEVELOPMENT PRACTICES SECTOR EDUCATION TRAINING AUTHORITY (ETDP-SETA)
 
Appointment of Independent Finance Committee Member to serve on the Finance Committee of ETDP SETA 
 
The Finance Committee has been established separately from the operations of the Audit Committee (AC). 
 
The Finance Committee is responsible for advising the ETDP SETA on general matters relating to budget, governance and control of finance and investment, it also review, approve and monitor matters included in these its Terms of Reference (Committee Charter), and any other matters that may be delegated by the ETDP SETA Accounting Authority (Board).
 
 
Requirements:
A relevant degree or equivalent qualification. An MBA/CA (SA) qualification would be an added advantage. Experience in any of the following fields: Financial Accounting, Governance and Financial Reporting. 
 
Experience:
- Experience in serving in any governance structures 
- Strong experience in finance, investments, risk management and compliance 
- Prior experience in serving in the Finance/ Audit Committee of a public institution (added advantage) 
- Knowledge and understanding of the SETA environment (added advantage) 
- An understanding of the regulatory framework within public entities 
 
Responsibilities:
In accomplishing its assigned responsibilities, the FC shall perform the functions listed below and any such matters falling within this mandate as may warrant its attention: 
 
- To review and recommend to the Executive Committee for approval: 
  • the procurement management policy and procedures, or changes thereto 
  • the investment policy and procedures, or changes thereto 
  • the quarterly management reports
- To review and advise the Executive Committee on: 
  • the investment of monies in accordance with the prescribed manner of the Skills Development Act and any other relevant requirements 
  • the application of levy monies unclaimed by levy payers as part of the current Grants system 
  • the allocation of funds to discretionary grants. 
  • the proposed allocation of approved discretionary funds to projects or other items.
  • the yearly budget for the business plan. 
- To review and approve: 
  • the quarterly financial income and expenditure as reported in quarterly management accounts. 
  • the quarterly reporting of performance by programme compared to each programme budget allocation actual spent and the reported variance analysis related thereto.
  • the quarterly draw-down schedule of the NSF project. 
  • procurement by the offices of the ETDP SETA (as prescribed by the Procurement Policy) 
  • the follow-up responses of management to the management letters and reported findings of the Auditor-General and Internal Auditors. 
  • investment of money by the ETDP SETA where amounts exceed R10 million. 
  • the procurement of supplies and/or services outside the framework of the procurement policy known deviations, for example without inviting comparative tenders or where a limited number of suppliers is available to ensure the correct authority has been applied to allow the deviation. 
  • Discretionary grants details. 
- To monitor and evaluate:
  • Compliance to the systems of internal controls. 
  • The performance of the Finance Division. 
  • The performance of the Procurement Committee. 
  • The process of disbursing skills development levies to employers. 
  • The expenditure of discretionary grants awarded. 
  • The insurance of the property, interest or risks of the ETDP SETA. 
  • The cash flow of the ETDP SETA. 
  • Quarterly and year-end financial reporting 
  • Quarterly management reporting, actual expense against budget and programme performance including Capital and administration expenses together with variance analysis related thereto. 
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Term of Office and Remuneration 
The term of office of appointed candidates will be for five (5) years. 
The remuneration of the members of the Audit Committee is determined in accordance with paragraph 20.2 of the Treasury Regulations and ETDP SETA internal policies. 
 
Applications must be accompanied by a covering letter, Curriculum Vitae. Only shortlisted candidates will be required to submit certified copies of qualifications and IDs: Email to: The Chief Risk Officer, Mr Mzikayise Dondolo. 
 
Enquiries: 011 372 3332 and email to mzikayised@etdpseta.org.za.
 
Applications should be submitted by no later than 22 July 2020. 
Applications received after the closing date will not be considered. Correspondence will be limited to short-listed candidates only. 
 
ETDP SETA reserves the right not to make an appointment. People with disabilities are encouraged to apply.