Principal Officer & Planning and Investment Manager at Public Service Pensions Trust Fund

Public Service Pension Trust Fund (PSPTF) is an Institution that was established in compliance with the Pension Act (CAP 55:02) to oversee the administration of the Public Service Contributory Pension Scheme. The Fund is now inviting applications from suitably qualified Malawians to fill the following vacant positions that exist at the Secretariat Office. The successful candidates shall be appointed on contracts renewable every 3 years upon successful performance.

1. Job Title : Principal Officer

Grade : PTF1

Division : General Management

Location : Secretariat

Reporting to : Board of Trustees

Direct Supervisees : Planning and Investment Manager

: Legal Services Manager

: Senior HR and Administration Officer

: Public Relations Officer

: Administrative Assistant

Indirect Supervisee : Risk Management and Internal Audit Officer

PURPOSE OF THE JOB

To manage and coordinate all strategic, operational and administrative functions of the Fund to align goals and organizational strategy in compliance with the Pensions Act, Fund Rules and statutory regulations under the strict guidance and authority of the Board of Trustees

KEY DUTIES AND RESPONSIBILITIES

1. Driving and leading the strategic direction of PSPTF in conjunction with the Board of Trustees

2. Providing support and technical advice to the Board of Trustees

3. Ensure strategy alignment with PSTF strategic objectives

4. Make high quality investing decisions

5. Train high performing managerial team

6. Enforce adherence to legal guidelines and in-house policies

7. Review financial and non-financial reports

8. Oversee all operations and business activities

9. Liaising, managing and engaging with all stakeholders as necessary

10. Representing the Fund in national and international forums

11. Coordinating timeous submission of all statutory returns as well as audited financial statements and annual reports, whilst monitoring financial performance of the Fund’s investments

12. Implementation and monitoring compliance with management and corporate governance best practices and guiding the Board of Trustees and sub-committees accordingly

INVESTMENT MANAGEMENT

The Principal Officer is expected to ensure that Fund assets are invested in compliance with the provisions of the Financial Sector Laws, Registrar’s Directives, PSPTF Regulations, and the Fund’s Investment Policy, PSPTF Trust Deed, and Fund Rules on behalf of the Trustees.

Specific Duties

1. To advise the Board on the asset classes which are available for investment.

2. Ensure that capital amounts of money that form part of the Fund are invested in line with the Fund’s investment policy.

3. Ensure that any income which is not required for any immediate payments is reinvested.

4. To ensure that periodic investment reports such as evaluation and performance reports are submitted to the Board timely.

5. To ensure that all required service providers such as Actuaries, Custodian, Auditors, or any such service provider are available for the Fund when required.

6. To ensure that all Fund assets are invested in the Fund’s name.

7. To ensure that all accrued investments income, commissions, fees, and direct and indirect gains from investments of the Fund are credited into the Funds account maintained by a custodian on behalf of PSPTF.

8. To ensure that appointed Service Providers or Agents do not exercise any proxy or voting rights associated with the Fund investments without expressing the Funds’ written consent and instructions.

9. To Act in the Fund’s best interests and ensure any conflicts of interest are raised to the Fund, recorded and managed in line with relevant Financial Sector Laws;

10. To build capacity and transfer knowledge to the Board of Trustees and management;

11. To provide advice on emerging local and global markets trends, forecasts, opportunities and access to up-to-date market research, etc;

12. To advise the Trustees on the statutory requirements of the Pensions Act (CAP 55:02) and other relevant legislation and liaise with relevant bodies on behalf of the Trustees;

13. To analyse the effects of new legislation and provide up-to-date knowledge of current trends and practices to the Trustees.

BENEFITS ADMINISTRATION

The principal Officer will be responsible for maintaining and updating member records, ensuring there is constant and reliable communication to members especially those in rural areas, timely reporting to both the Board of Trustees and Registrar of Financial Institutions, and maintaining an up-to-date and running benefits administration system.

Specific Duties

1. Ensure the Fund is in compliance with all Financial Sector Laws, Registrar’s Directives, Regulations and the Fund’s Trust Deed and Fund Rules on behalf of the Trustees;

2. maintain, post and update membership records including checking of entry qualifications, recording of membership options and beneficiary nomination forms;

3. maintain and update membership certificates and files including vital statistics, job status, member’s dates of birth, dates of joining the Fund, accrued benefits, current salary, and perform such other duties as may be required by the Trustees consistent with Financial Sector Laws and Regulations as well as the Fund’s Trust Deed and Rules;

4. maintain and update records to current Retirement Pensioners, nominated beneficiaries (including addresses, payment instructions, names and ages of children, dates deferred Retirement Benefits becomes payable, dates children reach age of maturity, and other related tasks);

5. Ensure there is valid agreements with all Fund agents;

6. To Provide Annual Statements to Members and update members’ statements on monthly basis;

7. To account to the Board of Trustees with regard to all matters pertaining to the administration of the Fund and the performance by the Trustees of their obligations arising under the said Trust Deed and Fund Rules of the Fund;

8. To carry out any lawful instruction of the Trustees in respect of any other matters which in view of the Trustees are for the welfare of the Fund members including those who have withdrawn or retired, as well as their dependents;

9. Prepare and submit to the Board of Trustees reports regularly (monthly, quarterly and annually) or as directed by the Trustees;

10. Organize an Annual General Meeting of Fund members that shall be held in such places and at such times as the Board of Trustees shall determine;

11. Advise the Trustees on the statutory requirements of the Pensions Act (CAP 55:02) and other relevant legislation and liaise with relevant bodies on behalf of Trustees;

12. To submit the periodic Fund report and accounts to the Regulator within the stipulated period as per the legislation;

13. Design, update and produce member information at the discretion of the Board of Trustees;

14. Facilitate access to information to members and all other stakeholders through various platforms.

CUSTODIAL SERVICES

The Principal Officer shall ensure that custodial and settlement of securities transactions services are of high industry standards in compliance with the relevant applicable laws and regulations.

Specific Duties

1. Ensure that securities held on behalf of the PSPTF are in safe custody and maintained physically or electronically on a regular basis;

2. Ensure registration of securities in the name of the PSPTF as may be instructed from time to time;

3. Timely reconciliation of dividends for listed equities securities and /coupons for fixed income securities;

4. Provide monthly reconciliation of physical securities against records

5. Provide monthly reports on securities holdings and market values for the PSPTF

PERSON SPECIFICATIONS

Qualifications and Experience

1. Master’s Degree either in Development Studies, Commerce, Finance, Economics or Law obtained from an accredited/recognised University or Institution;

2. Those holding an accounting qualification should possess, in addition to the accounting qualification, Professional qualifications such as ACCA, CPA, CIMA or ACA or other similar qualification; and

3. A practical hands-on working experience of Seven (7) years in pension administration, Three (3) years of which should be at a strategic position in a reputable organization.

Knowledge, Skills and Abilities

1. Proper and effective administration skills;

2. Good time management skills;

3. Strong financial understanding and the ability to interpret financial reports at strategic level;

4. Extensive knowledge of the Pension Act, Financial Services Act and other related acts;

5. Knowledge and experience in asset management principles;

6. Demonstrable experience in a complex multi-stakeholder environment;

7. Good working knowledge of Microsoft Office Package with an emphasis on Excel and Word.

2. Job Title : Planning and Investment Manager

Grade : PTF2

Division : Planning and Investment

Location : Secretariat

Reporting to : Principal Officer

Direct Supervisees : Assets and Investment Officer

: Planning and Research Officer

: Monitoring and Evaluation Officer

: Accountant

PURPOSE OF THE JOB

To manage planning and investment activities of the Fund

KEY DUTIES AND RESPONSIBILITIES

1. Conducting feasibility studies for new projects

2. Developing business plans and overseeing their implementation.

3. Monitoring and evaluating performance of business ventures.

4. Conducting market research, identifying market trends and opportunities and adjust business plans accordingly.

5. Collaborating with asset managers in carrying out promotion and marketing of the business ventures.

6. Preparing and presenting reports on commercial transactions and current status of business ventures to the Management.

7. Coordinating and supervising the functions and performance of investment department.

8. Identifying and promoting joint ventures/partnerships with potential investors.

9. Coordinating and managing completion of investment project activities within agreed time frames and approved schedule.

10. Liaising with outside consultants on completion of project activities within the approved budget and providing updates to Management on project critical path schedule.

11. Communicating newly discovered risks or problems with pending acquisitions to Management.

12. Monitoring revenue, costs, builder schedule and quality of construction.

13. Developing collaborative relationships with other departments on financial/legal/logistical issues.

14. Managing and monitoring risks to which the Department is exposed

15. Supervising and appraising performance of staff in the department.

16. Coordinating the preparation of the agenda items and reports for investment related meetings.

17. Collaborating with other departments in addressing relevant project risks and devising proper resolution strategies.

PERSON SPECIFICATIONS

Qualifications and Experience

1. Bachelor and Master Degree either in Investment Finance, Economics or Financial

Management from an accredited University or Institution;

2. Those holding and accounting qualification should possess, in addition to the accounting qualification, Professional qualifications such as ACCA, CPA, CIMA or ACA or other similar qualification; and

3. A working experience of Five (5) years in the relevant field, Two (2) years of which should be in a Senior Position in a reputable organization.

Knowledge, Skills and Abilities

1. Proper and effective administration skills;

2. Good time management skills;

3. Strong financial understanding and the ability to interpret financial reports at strategic level;

4. Extensive knowledge of the Pension Act, Financial Services Act and other related acts;

5. Knowledge and experience in asset management principles;

6. Demonstrable experience in a complex multi-stakeholder environment;

7. Good working knowledge of Microsoft Office Package with an emphasis on Excel and Word.

Method Of Application

Candidates who are interested and fulfil the prerequisites should send their application packages in PDF format to [email protected] . The application packages should include the following documents;

1. Curriculum vitae containing application detailed work experience and three traceable referees

2. Cover letter confirming interest and availability

3. Soft copies of higher education and professional certificates

The closing date for receiving applications is on 18^th February, 2024. Please note that only applications received through [email protected] will be considered and all applications sent through any other channel will not be considered.