GOVERNMENT EMPLOYEES PENSION FUND (GEPF) VACANCIES

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UNLISTED INVESTMENTS MANAGER
 
A. Job purpose 
To oversee the implementation of the GEPF’s unlisted investments strategy, including the internally-managed private equity portfolio of funds (Fund of funds) and the PIC-managed portfolio of funds (Direct Unlisted Investments).
 
B. Key Responsibilities 
Key performance area: Manage and implement the Fund’s unlisted investments strategy
Output/action:  Review and manage the implementation of the Fund’s unlisted investment (e.g. Private Equity, Properties, Infrastructure, etc.) strategy and policy.
 Source and research private equity fund managers including the review of fund proposals by the Public Investment Corporation (the GEPF’s preferred fund manager).
 Manage Private Equity/Unlisted investments Fund of funds portfolio construction and optimization.
 Investigate and advice on co-investment opportunities
 Oversee draw-downs and optimize cash flows.
 Represent the fund on Private Equity Boards/PIC investment panel when required.
 Provide advice in respect of reviewing and changing fund unlisted investment strategy.
 Compile quarterly reports on the GEPF’s unlisted investment program for the Head of Investments
 
Key performance area: Manage outsourced investments services
Output/action:  Negotiate unlisted mandates with PIC and other Private equity managers and recommend to Head Investments.
 Review mandate terms and deployment levels with PIC at every deployment review and recommend to the unlisted investment manager.
 Oversee and ensure the implementation of the internally-managed private markets portfolio
 Perform due diligence processes, in line with the internally-managed private markets portfolio
 Manage the overall investment reporting with the assistance of the investment management consultant.
 Provide oversight over the custodian and investment accounting services
 Manage and control service provider fees in line with contractual terms and budgetary plans.
 Ensure compliance with legislation and best practice principles.
 
Key performance area: Manage investment related projects:           
Output/action:  Co-ordinate and manage investment related projects.
 Evaluate project plans and aid in implementation.
 Undertake general contract management and administration for investment related projects.
 Define and approve the project scope, timelines, objectives and milestones of projects.
 Effectively manage the completion of project deliverables.
 Monitor and manage project costs in line with the budget.
 Develop quality assurance plans and guidelines for project members and service providers.
 Identify and resolve project issues and recommend mitigation strategies.
 
Key performance area: Monitor and evaluate Service Level Agreement/Investment Mandate compliance (PIC)
Output/action:  Develop and implement a monitoring and evaluation systems and framework, tools and procedure for investment mandate.
 Collate performance data and reports to assess compliance with contractual terms.
 Assist with negotiating performance measures with PIC for investment services.
 Review and analyse investment transactions to identify risk factors that could have longer-term financial impact on the GEPF’s investment strategy.
 Review and evaluate investment reports, the risk report and the investment risk report to identify issues of concern requiring mitigation or action
 Identify and escalate risk issues or concerns requiring mitigation to ensure management within defined and appropriate risks parameters
 Assist with the compilation of a report on the financial risk, service delivery level and mitigation strategies.
 
Key performance area: Manage resources and staff
Output/action:  Contribute to the budgeting processes.
 Monitor budget expenditure in relation to unlisted investment management fees.
 Manage staff performance through continuous performance appraisal, coaching and mentoring.
 Identify gaps in capability, skills and knowledge of staff members.
 Assist staff draft their performance and development plans and ensure implementation.
 Manage work allocation and staff responsibilities. 
 
C. Job specification
Qualification and experience:
Education:
 A Bachelor’s Degree in Science, Business Science, Finance or Investment Management
 Post-graduate degree in Business Science, Finance or Investment Management
 CFA/CA(SA)/CAIA/FASSA will be an advantage
 
Experience:
 Between 6 to 10 years’ experience in a financial services environment, preferably in Private Equity fund management
 Demonstrate experience in engagement with senior investment partners/professionals
 Demonstrate experience in management of a private equity portfolio
 Understanding of the pension funds industry, financial instruments and investment analysis
 
Knowledge:
 Awareness and understanding of the Government Employee Pension Fund and/or Pension Fund Industry
 Relevant legislation, regulations and procedures e.g. Pension Fund Act, Government Employee Pension Fund law, 1996
 United Nations backed Principles for Responsible Investment
 Code for Responsible Investing in South Africa
 Corporate Governance principles (King IV report)
 ILPA standards and frameworks
 Financial risk management
 Economic analysis (impact of global events on investment)
 Financial instruments
 Investment analysis and financial modeling in all asset classes
 GEPF stakeholders
 Understanding of legal compliance
 
Skills and behaviours:
Skills:
 Excellent numeracy and mathematical skills
 Financial modelling skills
 Qualitative and quantitative analytical skills
 Team work and collaboration
 People management and empowerment
 Communication (verbal and written)
 Project management
 Business Acumen
 Computer proficiency
 Planning and organising skills
 Attention to detail
 Project management
 Decision making
 Research skills
 Negotiation skills
Behaviour:
 Integrity
 Openness
 Inter-dependence
 Caring
 Client focus
 Communication
 Organisational Awareness
 Problem solving and Judgment
 Team work
 Developing others
 Innovation
 Impact and Influence
 Maturity and self management
 Fairness
 Professional work ethic
 Networking
 Assertiveness 
 
D. Leadership measures
These fields are not compulsory and should only be completed if the fields are relevant to your post
Number of staff directly managed: 2
Number of staff indirectly managed: 0
Number of contractors/suppliers managed: PIC and external private equity managers
Financial Accountability: Private equity budget
 
 
This appointment will be subject to competency assessments. GEPF retains the right not to employ. If you have not heard from us in two months, please consider your application unsuccessful. Applications should be directed to recruitment@gepf.co.za indicating the position you are applying for on the subject line. 
 
The closing date for applications is 22 June 2022.
 
 
 

INVESTMENT RESEARCH AND PERFORMANCE MANAGER
 
A. Job purpose 
To oversee the GEPF’s mandate compliance and performance monitoring functions, oversee the fund’s database management framework and managing the fund’s investment research function. 
 
B. Key Responsibilities 
Key performance area: Management and implementing the fund’s investments strategy
Output/action:  Review and manage the implementation of the fund’s listed investment strategy and policy
 Perform due diligence on investment transactions in order to identify portfolio risk factors that could have a long term financial impact on the fund’s investment strategy
 Compile and/or review quarterly reports on the fund’s investment performance
 Presentations to Board committees on the fund’s investment performance
 Actively participate on special projects and support in the implementation process
 
 
Key performance area: Oversee compliance monitoring
Output/action:  Develop and/or implement a monitoring and evaluation system, framework, tools, and procedures regarding the investment mandate
 Assist with negotiating performance measures with the PIC for investment services.
 Review and evaluate investment reports, the risk report and the investment risk report to identify issues of concern requiring mitigation or action
 Oversee escalated risk issues or concerns requiring mitigation to ensure management within defined and appropriate risks parameters
 Review mandate and regulatory compliance reports and ensure alignment to the investment mandate and applicable regulations
 Compile and/or review quarterly reports on the fund’s investment compliance activities
 Presentations to Board committees on the fund’s investment compliance activities
 
Key performance area: Performing and conducting investment research (internal research function)
Output/action:   Conduct and/or coordinate research on factors that influence the fund’s long term performance and objectives, including the following:

• Long-term macro-economic outlook and potential growth themes
• Long-term asset class return assumptions
• Asset liability model methodologies and outcomes

 Coordinate and produce articles for thought leadership purposes
 Produce reports (semi-annually) on the fund’s research activities
 Presentations to Board committees on the fund’s investment research activities
 
 
Key performance area: Coordinate and facilitate investment research (external research function)
Output/action:   Assist in increasing the fund’s research capacity through a panel of external service providers. The research panel would have three categories; including Listed Markets, Unlisted Markets and Sustainability
 Coordinate research outcomes from the research panel, including:

• Industry outlook and key developments within listed markets, unlisted markets, and sustainability
• Specially defined projects within listed markets, unlisted markets, and sustainability

 Produce reports (semi-annually) on the fund’s research activities
 Presentations to Board committees on the fund’s investment research activities
 
Key performance area: Manage investment related projects:
Output/action:  Co-ordinate and manage investment related projects
 Evaluate project plans and aid in implementation.
 Undertake general contract management and administration for investment related projects.
 Define and approve the project scope, timelines, objectives and milestones of projects.
 Effectively manage the completion of project deliverables.
 Monitor and manage project costs in line with the budget.
 Develop quality assurance plans and guidelines for project members and service providers.
 Identify and resolve project issues and recommend mitigation strategies.
 
 
Key performance area: Manage resources and staff
Output/action:  Contribute to the budgeting processes.
 Monitor budget expenditure in relation to listed investment management fees.
 Manage staff performance through continuous performance appraisal, coaching and mentoring.
 Identify gaps in capability, skills and knowledge of staff members.
 Assist staff draft their performance and development plans and ensure implementation.
 Manage work allocation and staff responsibilities. C. Job specification
 
Qualification and experience:
Education:
 A Bachelor’s Degree in Science, Business Science, Finance or Investment Management
 Post-graduate degree in Business Science, Finance or Investment Management
 CFA/CA(SA)/CAIA/FASSA will be an advantage
 
Experience:
 Between 6 to 10 years’ experience in a financial services environment, preferably in investment management
 Demonstrate experience in engagement with senior investment partners/professionals
 Demonstrate experience in management of a portfolio of listed investments
 Solid understanding of the pension funds industry, financial instruments, and investment analysis
 
Knowledge:
 Awareness and understanding of the Government Employee Pension Fund and/or Pension Fund Industry
 Relevant legislation, regulations and procedures e.g. Pension Fund Act, Government Employee Pension Fund law, 1996
 United Nations backed Principles for Responsible Investment
 Code for Responsible Investing in South Africa
 Corporate Governance principles (King IV report)
 Financial risk management
 Economic analysis (impact of global events on investment)
 Financial instruments
 Investment analysis and financial modeling in all asset classes
 GEPF stakeholders
 Understanding of legal compliance
 
Skills and behaviours:
Skills:
 Excellent numeracy and mathematical skills
 Financial modelling skills
 Qualitative and quantitative analytical skills
 Team work and collaboration
 People management and empowerment
 Communication (verbal and written)
 Project management
 Business Acumen
 Computer proficiency
 Planning and organising skills
 Attention to detail
 Project management
 Decision making
 Research skills
 Negotiation skills
Behaviour:
 Integrity
 Openness
 Inter-dependence
 Caring
 Client focus
 Communication
 Organisational Awareness
 Problem solving and Judgment
 Team work
 Developing others
 Innovation
 Impact and Influence
 Maturity and self-management
 Fairness
 Professional work ethic
 Networking
 Assertiveness 
 
D. Leadership measures
These fields are not compulsory and should only be completed if the fields are relevant to your post
 
Number of staff directly managed: 2
Number of staff indirectly managed: 0
Number of contractors/suppliers managed: PIC and the custodian
Financial Accountability: Listed investments budget
 
 
This appointment will be subject to competency assessments. GEPF retains the right not to employ. If you have not heard from us in two months, please consider your application unsuccessful. Applications should be directed to recruitment@gepf.co.za indicating the position you are applying for on the subject line. 
 
The closing date for applications is 22 June 2022.