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PUBLIC INVESTMENT CORPORATION (PIC) VACANCIES
PUBLIC INVESTMENT CORPORATION (PIC)
Public Investment Corporation SOC Ltd
Private Bag X187
Pretoria 0001
Republic of South Africa
The Public Investment Corporation SOC Limited (PIC) is an asset management firm, whose mandate is to make investments in various sectors of the economy on behalf of public sector entities. Amongst our clients are the Government Employees Pension Fund, the Unemployment Insurance Fund and the Compensation Fund. Over the years, we have grown to be amongst the top, large investment managers in South Africa and the rest of the African continent, with current assets under management at just over R2.6 trillion. At the centre of our growth is a team of self-driven professionals who are results-focused.
We are currently seeking applications from dynamic individuals for the following position:
ASSOCIATE PRINCIPAL ENERGY X1
• *Job Grade: E1 – E4
• Ref: APL002
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
Requirements:
Duties:
Competencies and skills:
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 02 August 2024
* Grade Range: The grade range for this position is from E1 – E4, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
ASSOCIATE PRINCIPAL ENERGY X1
• *Job Grade: E1 – E4
• Ref: APL002
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
- To assist the Fund Principal in providing leadership and strategic vision for the fund investment business.
Requirements:
- Degree (finance and engineering) and relevant commerce degree
- Postgraduate qualification MBA/ M.Com/ MFI/MSc/CA/CFA/Engineering and/or any relevant Master’s degree or professional qualifications
- Postgraduate qualification in tax law/company law
- 5 to 8 years of Investment Experience
- FAIS Representative
- Negotiation and deal structuring
- Industry and sectoral research
- Advanced financial modelling skills
- Valuations
Duties:
- Maximize funds committed for investment
- Implement investment strategy and philosophy
- Proactively identify investment partners and opportunities
- Implement portfolio diversification strategy
- Lead and manage the whole investment process
- Deal Screening
- Deal screening
- Preliminary appraisal of deal
- Deal structuring, pricing and negotiation of term sheet
- Due diligence scoping, execution and review
- Industry and sectoral research analysis
- Motivation of investment thesis;
- Facilitation of contracting;
- Disbursement;
- Manage portfolio prudently and enforce ESG discipline;
- Develop and implement value enhancement strategies at investee company level;
- Negotiating exit of investment
- Risk management, compliance and reporting
Competencies and skills:
- Interpersonal skills
- Negotiation skills
- Good investment and people judgment
- Project Planning and implementation
- Time Management and prioritization
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 02 August 2024
* Grade Range: The grade range for this position is from E1 – E4, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
JUNIOR DATA ANALYST
• *Job Grade: C3 – C5
• Ref: JDA00
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
The Junior Data Analyst is responsible for assisting the Data Analyst in conducting full lifecycle technical data analysis (including requirements, design, modelling, data mining, visualisation and optimisation). This role provides data analytics which can be used by the organisation to achieve business objectives through reporting trends, predictive modelling, as well as analysing business processes and opportunities.
Requirements:
Duties:
Competencies and skills:
• Good numerical and analytical (including statistical) skills.
• Proficient in extracting, manipulating, correcting and analyzing data.
• Exceptional problem-solving abilities.
• Solid oral/written communication skills and ability to work directly with clients.
• Ability to multitask and work under pressure with minimal supervision.
• Ability to create and maintain clearly written technical, user, and system documentation.
• Good team player with excellent interpersonal and organisational skills.
• Relationship Management.
• High attention to detail.
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 02 August 2024
* Grade Range: The grade range for this position is from C3 – C5, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
JUNIOR DATA ANALYST
• *Job Grade: C3 – C5
• Ref: JDA00
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
The Junior Data Analyst is responsible for assisting the Data Analyst in conducting full lifecycle technical data analysis (including requirements, design, modelling, data mining, visualisation and optimisation). This role provides data analytics which can be used by the organisation to achieve business objectives through reporting trends, predictive modelling, as well as analysing business processes and opportunities.
Requirements:
- Bachelor's degree/National Diploma in Information Technology, Management Information Systems, Computer Science, Computer Engineering or related
- Microsoft Excel, Database or Power BI Certification
- Data Analytics or related certifications
- Minimum of 1-2 years’ experience in a data-related role
- Knowledge of the financial industry
- Knowledge of data analytics processes and methodologies
- Understanding of databases/data warehousing concepts, architectures and processes
- Experience in working with all levels of users in Business and IT
- Experience with databases, data warehouse design or implementations,
- Experience with conducting analytics, data transformation, and visualization using tools such as SQL, T-SQL, Python, Java, JavaScript, MatLab, Microsoft R, Microsoft HD Insight, Visual Studio, vData, SSRS, SSAS, Azure Analysis Services, IBM Cognos and/or Microsoft PowerBI.
Duties:
- Conduct analysis and mining of PIC business data (including operational and performance) to identify opportunities for business improvement, and answer specific business questions through the identification of patterns and correlations among the various data points.
- Mapping and tracing data from system to system to solve a given business or system problem.
- Documenting technical specifications for data solutions that specify pertinent information such as data sources-to-target maps, types, structure (logical and physical models), flows, data dictionary transformations, storage and reports.
- Conduct data solution design, evaluate viable solutions, and implement them in line with PIC data governance practices.
- Ensure integrity, reusability, maintainability, reliability and scalability in the design and development of data solutions.
- Liaise with internal and external stakeholders to gather business requirements and translate these into specifications whilst enriching business understanding of their data.
- Analyse and resolve problems in existing data/ extracts/reports/ queries, and then implement corrective actions.
- Prepare data reports for internal and external audiences using business analytics reporting tools.
- Provide data analysis services during the lifecycle of projects to ensure successful implementations.
- Identify and manage Data risks in line with PIC Enterprise Risk and Data Management frameworks.
- Create awareness within the IT team on managing data issues.
- Comply with all applicable regulatory requirements.
Competencies and skills:
• Good numerical and analytical (including statistical) skills.
• Proficient in extracting, manipulating, correcting and analyzing data.
• Exceptional problem-solving abilities.
• Solid oral/written communication skills and ability to work directly with clients.
• Ability to multitask and work under pressure with minimal supervision.
• Ability to create and maintain clearly written technical, user, and system documentation.
• Good team player with excellent interpersonal and organisational skills.
• Relationship Management.
• High attention to detail.
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 02 August 2024
* Grade Range: The grade range for this position is from C3 – C5, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
ESG ASSOCIATE (UNLISTED)
• *Job Grade: D4-D5
• Ref: ESGAU260724
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
To ensure that ESG principles, plans and issues are adopted in the investment decision-making process and to enforce compliance in line with the approved ESG governance framework. Contributing to the long-term goal of improved stewardship and sustainability of investee Companies.
Requirements:
Minimum Qualifications:
Preferred Body / Association:
Minimum Technical/Core Skill Requirement
Duties:
Competencies and skills:
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 02 August 2024
* Grade Range: The grade range for this position is from D4-D5, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae, quoting the reference number, to: Recruitment6@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
ESG ASSOCIATE (UNLISTED)
• *Job Grade: D4-D5
• Ref: ESGAU260724
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
To ensure that ESG principles, plans and issues are adopted in the investment decision-making process and to enforce compliance in line with the approved ESG governance framework. Contributing to the long-term goal of improved stewardship and sustainability of investee Companies.
Requirements:
Minimum Qualifications:
- ESG-related (Environmental, Governance or Social) Honours degree
- 5-7 years’ experience in an ESG role
- MBA/ MBL or ESG related Masters qualification (advantageous)
Preferred Body / Association:
- Institute of Directors
- South African Council for Natural Scientific Professions
- Chartered Institute of Secretaries
Minimum Technical/Core Skill Requirement
- Corporate governance
- Understanding of Environmental, and/or social legislative framework
- Understanding of Corporate governance and its principles
- Social impact assessment (summative and formative)
- Portfolio monitoring
- ESG due diligence experience
- Working knowledge of BBBEE issues
- Good Understanding of ESG principles
- Good understanding of capital markets and the investment management industry
Duties:
- Input to the development of the ESG strategy
- Implementation of ESG Strategy
- ESG due diligence on transactions – pre and post
- Portfolio monitoring of ESG plans and issues
- Reporting on ESG performance, plans and issues as required by business and stakeholders
- Training of PIC staff and companies on compliance with ESG issues
- Periodic impact analysis
- ESG Research activities
- Manage resources and staff
- Analysis of Companies on their ESGT performance and the management of their respective ESG risks and opportunities
- Conducting engagements with companies on ESGT issues
- Supporting and developing tools and frameworks for the effective integration of ESGT analysis into the investment process
- Contributing to PIC ESG thought leadership research analysis and integration.
- Inputs into Client Reporting
- Inputs into ESG Stewardship Reporting
Competencies and skills:
- Teamwork and Cooperation
- Ability to communicate complex issues in both spoken and written form.
- Numerate and analytical thinker
- Self-starter and ability to take initiative
- Stakeholder management
- Commercial Business Acumen
- Ability to conduct research and analysis
- Good presentation skills
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 02 August 2024
* Grade Range: The grade range for this position is from D4-D5, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae, quoting the reference number, to: Recruitment6@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
Receptionist
• *Job Grade: C1 – C3
• Ref: RCPN001
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
To provide reception and switchboard services to the PIC.
Requirements:
Duties:
Competencies and skills:
• Communication, and interpersonal skills
• Reception and switchboard experience
• Effective communication skills
• Good personal presentation skills
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 01 August 2024
* Grade Range: The grade range for this position is from C1 – C3, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
Receptionist
• *Job Grade: C1 – C3
• Ref: RCPN001
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
To provide reception and switchboard services to the PIC.
Requirements:
- Grade 12
- Secretarial Diploma / Certificate
- A minimum of 2 years relevant of experience
Duties:
- Greet clients and visitors with a positive, helpful attitude.
- Receive and direct calls from various stakeholders
- Prepare boardrooms and training rooms.
- Assist with boardroom bookings and assist clients in finding their way around the boardrooms/office.
- Provide excellent customer service.
- Respond to all customer inquiries in a polite and timely manner.
- Assist with a variety of administrative tasks including capturing requisitions
- Maintain the reception area
Competencies and skills:
• Communication, and interpersonal skills
• Reception and switchboard experience
• Effective communication skills
• Good personal presentation skills
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 01 August 2024
* Grade Range: The grade range for this position is from C1 – C3, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
INVESTMENT ASSOCIATE: ECONOMIC INFRASTRUCTURE X2
• *Job Grade: D1 – D5
• Ref: INVA001 & INVA002
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
Requirements:
Duties:
Competencies and skills:
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 01 August 2024
* Grade Range: The grade range for this position is from D1 – D5, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
INVESTMENT ASSOCIATE: ECONOMIC INFRASTRUCTURE X2
• *Job Grade: D1 – D5
• Ref: INVA001 & INVA002
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
- To assist the Associate Principal and Fund Principal in the execution of transactions.
Requirements:
- Honours Degree (Finance, Engineering, Legal) and Relevant Commerce and Engineering Degree (Minimum qualifications)
- Postgraduate (e.g., Masters) qualifications (Preferred qualifications)
- CFA or CA would be an advantage
- At least 3- 5 years related experience
- FAIS Representative
- Negotiation and deal structuring
- Industry and sectoral research
- Advanced financial modelling skills
- Valuations
Duties:
- Deal screening and preliminary due diligence;
- Scoping of due diligence and preparation of scoping report;
- Preparation of engagement letter and indicative term sheet;
- Conduct of due diligence, Preparation of due diligence report and due diligence file;
- Develop industry and sectoral research database;
- Preparation of appraisal report;
- Development of financial models, including analysis of returns, sensitivities and scenario analysis;
- Assist in the implementation of transactions;
- Assist in the management of portfolio prudently and enforcing of ESG discipline;
- Risk management and compliance;
- Monitor investments and review and analyse performance of investment;
- Client reporting and mentor junior staff
Competencies and skills:
- Interpersonal skills
- Planning and organising
- Presentation skills
- Negotiation and deal structuring skills
- Time Management
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 01 August 2024
* Grade Range: The grade range for this position is from D1 – D5, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
INVESTMENT ANALYST: UNLISTED INVESTMENTS (ENERGY)
• *Job Grade: C3 – D3
• Ref: INCST003
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
Requirements:
Duties:
• Assist with deal screening
• Do preliminary appraisal of deals
• Assist with due diligence scoping and execution
• Do industry and sectoral research;
• Financial modelling;
• Make quarterly client visits
• Review quarterly monitoring reports
• Review the performance of the investments
• Ensure the ESG targets are met
Competencies and skills:
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 01 August 2024
* Grade Range: The grade range for this position is from D1 – D5, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
We are currently seeking applications from dynamic individuals for the following position:
INVESTMENT ANALYST: UNLISTED INVESTMENTS (ENERGY)
• *Job Grade: C3 – D3
• Ref: INCST003
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
- To assist the Associate Principal and Fund Principal in the execution of transactions.
Requirements:
- Commercial Bachelor’s Degree ( i.e. B.Com, B.Acc, B.Bus)
- B.Com (Honours) or B.SC (Honours) preferred
- CFA or CA would be an advantage
- 2 to 3 years of investment experience
- Financial Analysis and interpretation
- Financial modelling skills
- Ability to undertake research
Duties:
• Assist with deal screening
• Do preliminary appraisal of deals
• Assist with due diligence scoping and execution
• Do industry and sectoral research;
• Financial modelling;
• Make quarterly client visits
• Review quarterly monitoring reports
• Review the performance of the investments
• Ensure the ESG targets are met
Competencies and skills:
- Interpersonal skills
- Project planning and implementation
- Time management and prioritization
- Strong communications skills
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 01 August 2024
* Grade Range: The grade range for this position is from D1 – D5, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
Privacy Notice: By submitting your application, you consent to the PIC processing your personal information as per applicable laws and the PIC Privacy Policy available on the PIC website (www.pic.gov.za). You are free to withdraw your consent at any time, after which, the PIC may cease processing your application.
CALL FOR APPOINTMENT OF INDEPENDENT EXPERTS TO THE PUBLIC INVESTMENT CORPORATION’S AUDIT COMMITTEE
The Public Investment Corporation SOC Limited (PIC) was established in terms of the Public Investment Corporation Act, 2004 (Act No 23 of 2004) (the PIC Act), as amended, as a wholly State-Owned Company. The Minister of Finance is the sole shareholder representative on behalf of the South African Government.
The PIC is a registered Financial Service Provider (FSP), licenced Category II FSP, in terms of the Financial Advisory and Intermediary Services Act, 2002 (Act No 37 of 2002), as amended. The primary purpose of the PIC is to invest certain monies received or held by, for or on behalf of the Government of the Republic of South Africa and certain bodies, councils, funds and accounts. As custodian of substantial assets generated by the labour of generations of South Africa’s public sector employees, the PIC has a responsibility to conduct its affairs with integrity, transparency and in an exemplary manner. The PIC work contributes to the well-being of present and future generations of pensioners, member beneficiaries and South Africans at large.
The PIC manages a diversified portfolio to generate good financial returns for clients over a long-term period whilst supporting positive and long-term socio-economic development.
The clients of the PIC are mainly pension, provident, social security and guardian funds. PIC’s mandate is to invest funds on behalf of these clients, based on investment mandates agreed with each client and approved and regulated by the Financial Sector Conduct Authority (FSCA). Among the PIC’s clients are the Government Employees Pension Fund (GEPF), the Unemployment Insurance Fund (UIF) and the Compensation Fund (CF).
The PIC has a Board of Directors that govern and has overall accountability for the well-functioning of the company. The Board has established the Audit Committee (AC) as a Statutory Committee of the PIC in respect of the statutory duties in terms of Section 94(7) of the Companies Act, 2008 (Act No 73 of 2008), as amended; and as a Committee of the Board in terms of Section 72 of the Companies Act; Section 7 of the PIC Act, Section 76 of the Public Finance Management Act, 1999 (Act No 1 of 1999); and Principle 8 of the King IV Report on Corporate Governance for South Africa, 2016 (King IVTM).
The AC derives its authority from the statutory duties as contained in Section 94 of the Companies Act and discharges its duties and responsibilities in accordance with the applicable Delegation of Authority Framework (the DoA). The AC is also responsible for: 2
- Overseeing the implementation of its decisions;
- Monitoring the performance of the CFO;
- Reporting on the financial sustainability of the PIC;
- Review systems, including the whistle-blowing programme, that enable employees and other stakeholders to raise concerns, in confidence, about possible wrongdoings in financial reporting or other matters, including alleged fraud by employees;
- Monitoring reporting of fraud, bribery, and improper acts, in accordance with relevant laws and regulations; and
- Reporting on any matter concerning the PIC’s accounting policies, financial control, records and reporting.
In line with the AC’s Board approved Terms of Reference, the PIC seeks to appoint two (2) Independent Experts with expertise within the financial and auditing sectors/industries to enrich the skills of the AC and therefore invites qualified, experienced, competent, and interested individuals to submit a comprehensive curriculum vitae with a cover letter for consideration to be appointment as an Independent Expert to the AC.
The key responsibilities of the successful individuals will include, but are not limited to:
- Independent, technical, and financial risk input to the members of the AC to enable decision-making regarding the AC’s duties while adhering to the highest standards of ethics, integrity, objectivity, and the PIC's values;
- Provide, as and when required, input regarding recent developments within the accounting and auditing sectors/industries;
- Provide independent input on the effectiveness of the internal control systems and financial reporting;
- Provide independent input on the effectiveness of financial risk and oversight;
- Provide input on overseeing the integrity of the annual financial statements, and to the extent delegated by the governing body, other external reports issued by the PIC;
- Provide input on the adequacy, reliability and accuracy of financial information provided to management, the Board, and other users of such information; and
- Provide independent input on the effectiveness of the PIC’s assurance functions and services, including external assurance service providers, external audit, internal audit and the finance function.
Individuals interested in being appointed as an Independent Expert must have integrity, demonstrate ethical behaviour, and meet a combination of the following criteria:
- Independence/lack of conflicts of interests
- Bring demographic diversity to committee membership
- Minimum of 15 years’ experience in auditing, financial, and risk with at least 5 years held at senior level
- Accounting/Financial
- Financial and sustainability reporting (integrated reporting)
- Internal financial controls
- Internal and External Audit processes
- Legal and Regulatory Compliance (Corporate Law)
- Risk Management (including IT and Fraud Risks)
- Corporate Governance
- Asset Management
- Valuation Methodologies
- Progressive and Value-adding attitude
- Honesty and willingness to demonstrate independent thinking from group positions in a constructive manner
- Be committed to the PIC’s mission
- Not be disqualified to be appointed as a Director or Trustee
Soft copies of a framework with detailed specifications, minimum requirements and the envisaged role of the Independent Expert can be accessed below this advertisement.
The submissions must be emailed to the following email address: ACINDEPENDENTEXPERT@pic.gov.za or posted to the PIC offices and marked for the attention of:
Company Secretariat
Public Investment Corporation SOC Ltd
Private Bag X187
PRETORIA, 0001
Closing date for submission of CVs: 1 August 2024
Written enquiries can be sent via email to ACINDEPENDENTEXPERT@pic.gov.za.
By submitting your application for consideration as an Independent Expert, you are granting the PIC consent to process your personal information in accordance with the Protection of Personal Information Act, 2013 (Act No 4 of 2013), as amended. Applicants will be subjected to a vetting process to ensure that candidates shortlisted for consideration have integrity, and are honest, ethical, appropriately qualified, skilled, and experienced.
Correspondence on the outcome of the appointment process shall be limited to the successful candidate.
The PIC is an equal opportunity employer with an objective to include 50% women and 5% people with disabilities in its governance structures. Preference will be given to South African citizens.
We are currently seeking applications from dynamic individuals for the following position:
INVESTMENT ANALYST: UNLISTED INVESTMENTS (ECONOMIC INFRASTRUCTURE)
• *Job Grade: C3 – D3
• Ref: INCST002
Salary: All-inclusive remuneration package negotiable
Centre: Public Investment Corporation, Pretoria
Purpose of the role:
- To assist the Associate Principal and Fund Principal in the execution of transactions.
Requirements:
- Commercial Bachelor’s Degree ( i.e. B.Com, B.Acc, B.Bus)
- B.Com (Honours) or B.SC (Honours) preferred
- CFA or CA would be an advantage
- 2 to 3 years of investment experience
- Financial Analysis and interpretation
- Financial modelling skills
- Ability to undertake research
Duties:
• Assist with deal screening
• Do preliminary appraisal of deals
• Assist with due diligence scoping and execution
• Do industry and sectoral research;
• Financial modelling;
• Make quarterly client visits
• Review quarterly monitoring reports
• Review the performance of the investments
• Ensure the ESG targets are met
Competencies and skills:
- Interpersonal skills
- Project planning and implementation
- Time management and prioritization
- Strong communications skills
Our firm values diversity, and excellence and is committed to the realisation of these across all operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to be part of a team that is focused on creating meaningful change, you are welcome to submit your application for this position.
Closing Date: 01 August 2024
* Grade Range: The grade range for this position is from D1 – D5, commensurate with applicable minimum requirements.
The PIC is an equal opportunities employer, aligning appointments with the PIC Employment Equity plan.
Please forward a copy of your comprehensive curriculum vitae to: Recruitment1@pic.gov.za
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