Background

Our client in the automotive industry is looking for a Managing Trustee to manage their BBBEE Initiatives Trust. The trust was created in 2016 through the injection of R86 million of initial funding from a benefector with the purpose of developing black-owned suppliers in the automotive industry of South Africa. The Trust was officially launched in June 2017, in Uitenhage, Port Elizabeth. At this strategic juncture, the Trust now seeks to appoint a full time Managing Trustee to manage the existing portfolio of investments and implement the Trust’s future growth strategy.

Role overview

The Managing Trustee will report directly to the Board of Trustees. The Managing Trustee should provide leadership, management and vision necessary to ensure that the Trust fulfills its objectives of being South Africa’s leading automotive sector BBB-EE funder and economic/social change agent.

The key responsibilities include:

1) Portfolio Management:
– Overseeing post-investment management (PIM) support to the current portfolio of investees

  • PIM support includes: i. Monthly check-in with investees
  • Monthly review of management accounts and operational activities

iii. Support in the execution of strategic growth projects

  • Engage with the company and 3rd party service providers to provide value to portfolio investees

2) Financial Management:
– Oversee the financial management of the BBBEE Trust, portfolio investees and Trust impact projects: i. BBBEE Trust: development of the annual budget, monthly management accounts, adherence to the accounting policies and procedures manual

  • Portfolio Investees Loan Management: tracking against the loan repayment schedule, management of the loan facility administration system

iii. Trust Impact Projects: adherence to procurement policies and procedures, tracking of project expenditure against budget

3) Governance:
– Submission of monthly reports to the Board of Trustees and attendance of monthly Trustee meetings

  • Quarterly report submission to the Chair of the Board of Trustees (for submission to the VWSA board)
  • Adherence to all aspects of the Trust Deed governance requirements
  • Management of external fund administration service providers

4) Stakeholder Management:
– Engagement with key external stakeholders that will enhance the value proposition of the Trust

  • Stakeholders include; local and international funders, government agencies, the automotive industry transformation fund, provincial departments and local municipalities

5) Strategy:
– Development of the annual Trust strategic objectives and performance metrics (in conjunction with the board of Trustees)

  • Development of the Trust impact investing strategy, which includes: i. Trust re-positioning and brand refresh
  • Fund raising

iii. Execution of strategic projects (e.g. Kariega Township Development Projects)

6) Impact Fund Managers:
– Oversee: i. FSCA accreditation of VWI FM

  • Deal Making activities (including due-diligence)

iii. Capital Raising activities

Minimum requirements

  • A tertiary education qualification – MBA or CA (SA)
  • Exceptional leadership skills
  • Minimum of 5 years’ experience as a senior manager or in a leadership position
  • Experience in enterprise development or SME funding or impact investing or ESD Trust management
  • Understanding and knowledge of the South African ESD & BBBEE legislation

Desired Skills:

  • Stakeholder Management
  • Strategy
  • Financial Management
  • Governance
  • Portfolio Management
  • BBB-EE

Desired Work Experience:

  • 2 to 5 years Business Consulting
  • 2 to 5 years Investment Management

Desired Qualification Level & Accreditations:

  • Masters
  • South African Institute of Chartered Accountant

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