Newsflash – New Staff Appointments

The Principal Officer and Deputy Principal Officer are the executive representative of the Fund, and official
contact person for the Financial Sector Conduct Authority (FSCA, previously the Financial Services Board).
They have the same fiduciary responsibilities to the Fund as those pertaining to the Trustees. Lerato has been active in the Retirement Industry for more than 20 years. She holds a Law degree from the University of the North West and a diploma in Labour Relations. She has completed a number of industry related certificates.

She has served in a senior consultant role with various major insurance companies . She has had the honour of working alongside Principal Officers of some very large Funds in the industry, particularly in the Organised Labour sector. She is currently enrolled to study towards the Principal Executive Officer qualification with Batseta.

Some of Lerato’s responsibilities will include:

  • Assist the Principal Officer in ensuring that the Fund’s obligations to its members are met;
  • Promote good corporate governance of the Fund;
  • Ensure that contracts with service providers and consultants are in place and complete on detail as well as the
    concomitant the management thereof;
  • Ensure that the fund complies with the formal requirements of the law, including directives from the Commissioner,
    South African Revenue Services and any other relevant regulatory authority;
  • Assist the Principal Officer in establishing an infrastructure that enables compliance with all aspects of the Pension
    Funds Act, Regulations and relevant directives;
  • Have a good understanding of the process to be followed in formulating an appropriate investment strategy for the Fund,
    including the setting of benchmarks, developing asset-manager mandates, and the supervision and monitoring of the
    strategies for implementation;
  • Establish how socially responsible investments and shareholder activism should be pursued;
  • Have sufficient knowledge about the actuarial requirements of the Fund;
  • Act as the main link between the fund and the valuator, and take ownership of the valuator’s assumptions, to understand
    the effect on the Fund of each assumption change;
  • Assist the Principal officer in ensuring that the Fund’s audited Financial Statements are submitted within the time limits
    prescribed by relevant legislation;
  • Assist the Principal Officer to oversee the daily operations and execution of Trustee decisions, facilitating the process for
    the Trustees’ empowerment to perform their duties;
  • Ensure that the Fund sub committees operate effectively and within the governance structures of the Fund.

Grace started her career at Alexander Forbes as an Actuarial Assistant and then worked for NMG Actuaries
and Consultants as an Actuarial Consultant. She later joined RMB asset managers as an Assistant to the
Portfolio Manager and then moved to CellC as a Financial Analyst. She later joined the ECIC as a Risk Analyst
where she was later promoted to be an Investment Specialist.
Grace has a Bsc Degree in Mathematical Statistics obtained from the University of Pretoria and she’s a CFA
level 3 candidate.

Some of Grace’s responsibilities will include:

  • Development of an appropriate investment policy and investment objectives;
  • Development of an investment strategy for the Fund;
  • Development and active management of the Fund investments;
  • Relevant investment training programs;
  • Development of appropriate criteria for selection of the asset managers and the setting of benchmarks for asset
  • Analysis and review the performance of asset managers and provide the Fund with detailed monthly reports of
    investment performance analysis and review;
  • Educate and communicate with Fund members;
  • Advise the Fund on a continuous basis on the latest asset management and value adding services available;
  • Attend the investment committee meetings and other Fund meetings whenever its required;
  • Attend to any other asset management matters as and when required by the Fund;
  • Provide the Fund and the actuary with unit pricing information on a monthly basis;
  • Prepare and assist Fund with Regulation 28 reporting and compliance checks on a monthly basis;
  • Ensure that the ESG is incorporated into the Fund’s Investment Decisions; and
  • Ensure that the Fund achieve its transformation objectives.