GUIDE FOR APPLICANTS
This Guide is to assist Applicants in compiling their Application.
Position Title: CHIEF EXECUTIVE OFFICER
Public Body: Unit Trust of Samoa (Management) Ltd
Contact: Ministry for Public Enterprises
Tel: +685 34500
Email: [email protected] The Application Pack can be downloaded from the website link: www.mpe.gov.ws
Making an Application: All Applicants are required to submit the following:
1. A Cover Letter:
(i) Expressing interest in the Chief Executive Officer, Unit Trust of Samoa (Management) Ltd ; and
(ii) Availability to start employment, if appointed.
2. Most recent curriculum vitae that includes:
(i) Details of all your current and previous work history, including the following information:
(a) Position Title, Employer and the dates you held the position; and
(b) List of Achievements; and
(c) Brief Summary of Key Accountabilities
(ii) Certified copies of all certificates of academic achievements, qualifications,
trainings, professional affiliation and other documents provided in support of
your application. (Certified copies are those that are seen and verified by a
lawyer as true copies of the originals); and
(iii) Your contact details for correspondence purposes in relation to your application
for this position.
3. Completed Referee Details with recent written references from three (3) professional
referees (Recent means no later than 12 months).
Submission of Application: All applications for the advertised Chief Executive Officer, Unit Trust of Samoa (Management) Ltd position MUST be submitted to MPE and addressed to:
The Chairperson
Board of Director
Unit Trust of Samoa (Management)
Ltd,
Apia, Samoa
MPE Address:
Level 1, NPF Plaza
Tel 34500
Beach Road, Apia
Closing Date: Friday, 20th December 2024, by 2.00pm
Late Applications: It is important to note that ALL applications received after the time and date stated in the advertisement WILL NOT be accepted and considered during the short listing process. A hard copy of an electronically submitted application received after the due date may be accepted given the electronic copy was received on time.
JOB DESCRIPTION
Unit Trust of Samoa (Management) Ltd VISION
“To be the most trusted Fund Manager in Samoa for wealth creation”
Unit Trust of Samoa (Management) Ltd MISSION
“To provide unitholders with a preferred digitally secured investment opportunity for a better financial future”
BACKGROUND
- The inception of UTOSM was conceptualized within the State-Owned Enterprises Monitoring Division of the Ministry of Finance in February 2010. Once the legalities were in place, the company was established in February 2011 with the appointment of its Executive Team together with the Board of
Directors.
- The company has grown significantly over the decade having been provided with Government Budgetary support for its start-up operational costs, to now declaring dividends in excess of start-up costs to give back to the Government to support its ongoing developments. The growth has not only been established with regard to operational efficiencies but also with relation to the number of employees and their capacity to carry out the mandate of the company.
- UTOSM continues to move towards a more digitally enhanced presence with its systems now fully automated together with its services made available on various digital platforms. The success of the company is also reflected in the growth of the Trust where the efforts of UTOSM has directly contributed to the growth of the investment portfolio and also the increase of its unitholder base not only for our local population but also amongst the diaspora.
- As of June 2023, the UTOSM has paid a total of $3.14million in dividends to the Government of Samoa since its establishment. This has far exceeded the initial capital contribution of $1.80million from the Government.
- The UTOSM continues to successfully manage the Trust with the Investment Portfolio surpassing $254million as at 30th June 2023 with over 5,000 unitholders actively participating in the Trust. The total value of dividends distributed to date since inception amounts to $52million.
SCOPE
Management: 4
Staff: 15
POSITION DETAILS
Position Title: Chief Executive Officer Position Code: NA
Location: Apia, Samoa
Reports To:
- The Minister of Finance and the Chair of UTOS (Management Company) Limited Board of Directors for the efficient, effective and economical administration of the Trust Fund in accordance with its related legislations.
- The Board of Directors of UTOS (Management) Limited for the efficient and competence leadership and management of all employees of the Company in accordance with requirements as determined by the Board of Directors and related legislations and policies.
- The Ministry of Finance as well as the Ministry for Public Enterprises for compliance with the Public Bodies Act 2001, Public Finance Management Act 2001 and other relevant legislations and Government Policies.
PRIMARY OBJECTIVES:
The Chief Executive Officer of Unit Trust of Samoa (Management) Ltd (the “Company”) lead the management and development of the Unit Trust of Samoa (the “Trust Fund”) to maximize returns on investments for Unitholders funds, protecting the interests of Unitholders and to ensure that all laws and regulations applicable to the Trust are complied with including the Unit Trust of Samoa Trust Deed. The Chief
Executive Officer is responsible for the overall management of the Company and the Trust Fund in line with the objectives listed below:
- To manage the Trust Fund so that unitholders obtain a competitive rate of return on their investments.
- To manage the Trust Fund prudently so that risk of loss is commensurate with the Prospectus issued to investors.
- To grow the Trust Fund and facilitates as a broad an investment community as possible. To manage the Company as efficiently and effectively as possible.
DUTIES AND MAIN RESPONSIBILITIES:
The Chief Executive Officer will perform the following duties:
- The Chief Executive Officer will perform the following duties:
- Provides advice to the Minister through the Board of Directors based on analysis of broad range of issues and emerging trends, assessing impact on the Company and the Trust Fund as well as identifying opportunities and viable solutions.
- Ensure the mandated and timely preparation and submission of:
Annual reports to Cabinet and Parliaments
Monthly Financial Reports to the Board, and
Quarterly Reports to the Ministry of Finance, Ministry of Public Enterprise and other relevant key stakeholders
- To ensure that transactions of units and investments of the Trust Fund are done in accordance with the Trust Deed, Internal Policies and all applicable legislations at all times.
- To develop and review all policy documents and plans during the next phase of development and review of the Company and the Trust Fund, as well as to review the Prospectus and Investment Plan within the time period as directed by the Board of Directors.
- To drive and promote the Trust Fund as an alternative investment fund and the Company as a fund manager for all Samoan citizens and businesses, which is linked to the privatization program of the Government and to build the organisation climaxes needed to achieve objectives in which the Trust
Fund was established.
- To lead the monitoring and allocation of the investment portfolio and continuously pursue new investments yielding favourable returns for Trust funds.
- To build and maintain good relationships with key investors and stakeholders nationally and internationally to facilitate the achievement of corporate goals and targets.
- To ensure strategies, policies and processes are in place to identify and mitigate risks across the organization. These include financials, online services, marketing strategies, businesses, assets and investments risks.
- To assess skills and capabilities of staff and to develop training and capacity building plans for skills’ gaps identified.
- To ensure the Company and the Trust Fund complies with all the relevant legislations and regulations, as well as with the reporting requirements specified under the Trust Deed, Public Bodies (Performance and Accountability) Act 2001, Companies Act 2001 and the Public Finance Management Act 2001.
- To increase unitholders’ funds under the management of the Company.
- Facilitate a work environment that promotes efficiency and effectiveness of the Company’s services delivery.
- To assess potential risks associated with current investment portfolios and implement strategies to reduce or eliminate these risks.
- To report and advise the Board of Directors on the financial performance and position of the Company and Trust Fund on a monthly, quarterly and annually basis.
- Ensure that the Company and the Trust Fund are indemnified from any unnecessary legal action.
- In consultation with the Chairman of the Board of Directors, establish dates and times for Board meetings and notify Board members accordingly.
- Carry out any other duties as directed by the Minister and /or Board of Director.
SELECTION CRITERIA
POSITION SPECIFIC COMPETENCIES
SKILLS AND ABILITIES
DESCRIPTORS
Strategic Thinking
- Articulates a clear vision of the Organization and inspires a sense of
shared purpose and direction and drives the Company’s vision and
long-term direction.
- Ability to recognize opportunities that the Organization can utilize to
secure resources from local and international sources to support implementation of its programs and the strengths and potentials of its
personnel in meeting the Organization’s vision and goals.
- Ability to make timely and effective decisions and produce results
through strategic planning and implementation and evaluation of
programs and policies to inform policy and operation reforms.
- Considers emerging trends and multiple perspectives when assessing
impact, long-term opportunities and viable solutions.
- Drives and sustains a performance culture and inspires a strong desire
to succeed and work towards goal accomplishments.
- Demonstrates a clear understanding of political, social, financial and
economic factors affecting the Company and the Trust Fund.
- Has good command skills and encourages internal feedback and
external assessment for improving the Organization’s performance and
take personal responsibility for outcomes.
- Build effective teams and relevant systems within the Organization to
ensure effective and efficient operations.
- Ability to acquire and administer resources (human, financial, material,
information) in a manner that instills public trust and accomplishes the
Organization’s goals.
- Sound knowledge of all current relevant legislations governing the
Company’s operations and all legislation related to public bodies.
Building Relationships
- Nurtures internal and external relationship
- Values individual's differences, strengths and potential and harness these to achieve the Organization 's goal.
- Develops guides and monitors employees.
- Drives a culture of collaboration, participation and recognizes importance of consultation, stakeholder engagement and fostering teamwork.
- Communicates the big picture clearly to a wide range of internal and
external audience with precision, confidence and in an articulate manner.
- Empowers, mentors and engages staff in activities to sustain morale
and encourage regular feedback and recognition of achievement.
- Excellent Communication skills in English and Samoan languages,
sound knowledge in the Samoan culture (Fa’a Samoa) and especially
high level in negotiation skills with the cultural setting in villages.
Delivers / achieves results / outcomes
- Drives a culture of achievement and commitment to achieving outcomes beyond expectations.
- Drives an efficient and effective system of planning, reporting progress, monitoring and evaluating of results.
- Stimulate / create a culture of accountability and transparency.
- Uses workforce planning to develop and maintain the capability to
deliver services effectively.
Management
- Invest time in managing and developing people as well as building positive staff morale.
- Integrate plans into a transparent management framework to fulfill obligations of management accountabilities.
- Manage projects across sector and multiple agencies and keeps
stakeholders informed.
- Effectively delegates appropriate responsibility, accountability &
decision making authority.
- Monitors progress against milestones and deadlines.
- Drives effective planning and demonstrates a strong organizational ability and experience through the integration of structures, systems and teams to better achieve objectives.
- Drive strategies to achieve operational efficiencies and value for
money.
- Provide oversight for financial resources and assets and account for their use.
Leadership
- Ability and confidence to effectively lead and navigate an organizations sustainably.
- Able to plan and execute a vision based on current and future possibilities and inspire teams to adapt and thrive in a changing environment.
- Able to lead a meaningful process of change in a purposeful manner.
- Ability to manage politics, take risks, be innovative and deal with complexity.
- Is resourceful, optimistic, energetic, open minded, flexible and capable of solving problems and making decisions.
- Drives and sustains a performance culture both internally (agency level) and externally.
PERSONAL ATTRIBUTES
DESCRIPTORS
Integrity / Ethics
- Possess appropriate values and belief in what is best for the common good.
- Is widely trusted and is seen as a direct and courageous individual.
- Personifies values of honesty, integrity, impartiality, transparency accountability.
- Demonstrate self-awareness and commitment to personal development.
- Serves the Government of the day irrespective of personal preferences
Commitment & Personal Drive
- Takes responsibility and initiates timely action to resolve issues.
- Is prepared to make tough corporate decisions to achieve desired outcomes.
- Accepts accountability for mistakes made in the organization and ensures corrective action is taken.
Intellect & Judgment
- Is analytical, proactive, innovative and able to conceptualize strategic issues faced by the Organization and apply appropriate and cost-effective solutions.
- Is aware of new and emerging issues such as climate change and disaster risks and able to design interventions to adapt to climate change and reduce disaster risks and ensure that the Organization is ready to respond at all times to small scale incidents and national disasters.
- Has the functional and technical knowledge to carry out the Chief Executive Officer's duties to a high level of accomplishment.
- Makes sound decisions based on common sense, experience and good judgment without prejudice.
- Anticipates implications and applies effective judgment to develop
solutions.
Creativity and Innovation
- Consistently generates and employs original ideas, tackling both simple and complex problems.
- Brings out the best in others, leads them to discover new ideas, solutions and new ways of doing the job and unafraid to use unorthodox methods.
- Drives and steers the change agenda and demonstrates understanding of the complex range of factors which effect change.
- Ensuring a safe and happy work environment for all employees where they can freely express their creativity and individuality and still value being part of the Organization.
EPERIENCE & PAST
WORK PERFORMANCE
DESCRIPTOR
Proven experience in management or leadership with a minimum of eight (8) years of services, preferably in the following:
- Professional and managerial experience in Investment, Finance, Economics and Public Administration.
- Experience in public sector reforms, Government procedures and procurement policies.
- Investment assessments and valuations.
ACADEMIC QUALIFICATION
DESCRIPTOR
- Minimum qualification of a Bachelor degree from a recognised tertiary institution in Accounting, Finance, Economics and Public or Business
Administration or other fields relevant to the position.
OTHER INFORMATION
REMUNERATION & TERM
DESCRIPTOR
- The position is for a period of three (3) years.
- The salary for the position is SAT $ before tax. This is inclusive of contribution to the National Provident Fund and contribution to the Accident Compensation Corporation.
BENEFITS
Duty Station: Unit Trust of Samoa (Management) Ltd, Apia, Samoa
Duration: Three (3) years
Salary: SAT $
Hours of Attendance: The standard hours of attendance is Monday – Friday from 9.00am to 5.00pm excluding Cabinet endorsed holidays
Performance Reviews: The Appointee’s performance shall be reviewed in accordance with the Schedule D of the Contract of Employment.
Annual Leave: 25 days’ annual leave per annum
Sick Leave: 25 days’ sick leave per annum
Vehicle: The Employer will provide a vehicle for the Employee to use for business and
private use in accordance with Government policy and relevant legislation
relating to the provision and use of Government vehicles. The vehicle
allocated to the Employee must have a Government number plate.
Telephone Expenses: The Appointee is entitled to a non-taxable annual telephone allowance of SAT$3,600.00 per annum.
Other Leave: The Appointee is also entitled to other leave in accordance with the Human Resource Policy of the Employer (where applicable), as approved by its
Board.
End of Contract Benefits: The Appointee is entitled, at the expiry of the Contract Term; to payment of the equivalent of fifteen (15) working days of net pay bonus pay out for every year of the Contract served.
National Provident Fund: Unit Trust of Samoa (Management) Ltd shall pay a percentage of the Appointee’s contribution of another rate prescribed by the National Provident Fund from time to time.
Accident Compensation Corporation: Unit Trust of Samoa (Management) Ltd shall pay a percentage of the Appointee’s contribution or another rate prescribed by the Accident Compensation Act 1989.
Duty Travel: The Government, Corporation, development partner or relevant body meets all travelling expenses at prescribed rates necessarily incurred by staff required to travel away from Apia on official duty travel,
Regional/International
Recruited Staff: A successful candidate recruited from overseas is responsible for all costs associated with relocation and will not be the responsibility of the Unit Trust
of Samoa (Management).
