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NATIONAL HOUSING FINANCE CORPORATION (NHFC)
 
AUDIT COMMITTEE BOARD MEMBER 
 
The NHFC, is one of the Development Finance Institution (DFI) of the National Department of Human Settlements (NDHS). It is a PFMA, Schedule 3A entity which was established in 1996 with the principal mandate of broadening and deepening access to finance for the low to middle income South African households.
 
The target market of the NHFC, which is transitioning to becoming a Human Settlement Development Bank (HSDB) is the low-to-middle income housing market which typically includes households who earn between R1 500 and R22 000 per month. The NHFC mandate requires the company to make housing and housing finance accessible and affordable to facilitate this objective. 
 
 
All of NHFC, soon to become HSDB objects are achieved through providing wholesale funding to housing development projects for ownership, social housing and private rental, including inner cities and incremental housing purposes, by partnering with banks and other non-banking retail financial intermediaries to increase their sustained lending and innovation in the target market served, thereby leveraging private sector funding for the sustainable development of human settlements. 
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As a result of the mandate of delivering to its target market, the NHFC’s strategic priorities include expanding housing finance activities through the effective provision of housing finance solutions, affording low-to-middle income households a choice of renting, owning or incrementally building to meet their housing needs; facilitating increased and sustained lending by financial institutions to the affordable housing market; mobilizing funding into the human settlements space on a sustainable basis, in partnership with a broad range of institutions and ensuring timely, relevant research and market analysis to practitioners and housing customers to stimulate the low-to-middle income housing sector. 

 
In all its business dealings, the NHFC conducts its affairs in an ethical manner that ensures its continued economic sustainability, while promoting sustainable social and environmental development. 
 
We are now looking for exceptional three visionary Non-Executive Directors to infuse valuable input to the NHFC Board and its respective Board Committees as it transitions to become the HSDB and beyond. 
 

The individuals to fill the vacancies in the Audit Committees of the Board, should be able to provide general counsel and a different perspective in his/her craft, to enable the Board to demonstrate leadership in the following areas of its responsibility: 
 Strategic direction- to provide a creative and informed contribution and to act as a constructive critic in reviewing the objectives and plans created by the executives, 
 Provides financial insights and reporting 
 Monitoring performance- both financial and non-financial with regard to the progress made towards achieving the determined company strategy and objectives,
 Communication- assist the company with networks of potentially useful people and organisations. Where necessary, represent the company externally, 
 Risk- to satisfy him/herself on the integrity of financial information and that financial controls and systems of risk management are robust and defensible. 
 
As an Audit Committee Member, the NED is expected: 
 To play a role of ensuring that the company accounts properly to its shareholders. 
 To guide the executives in presenting a true and fair reflection of their actions and financial performance. 
 Ensure that the necessary internal control systems are put into place and monitored regularly and rigorously. 
 
Skills and Qualifications 
 Minimum: A Chartered Accountant qualification, at least five years’ experience of service as a NED, preferably as an Audit Committee Member, in a Finance Institution. At least Ten (10) years in Senior Management, Strong Leadership and Excellent Oral Communication. 
 Affiliation with IODSA is requirement. 
 Any other advance qualification would be added advantage. 
 
Please send detailed Curriculum Vitae to hr@nhfc.co.za by 27 May 2020.

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