NSFAS is Looking for Board Members

CALL FOR THREE (3) INDEPENDENT MEMBERS TO SERVE AS A CHAIRPERSON (1) AND MEMBERS OF THE AUDIT AND RISK COMMITTEE (2) FOR A THREE (3) YEAR PERIOD

Position: NSFAS ARC Member

The National Student Financial Aid Scheme is a Schedule 3A public entity, established by the National Student Financial Aid Scheme Act 56 of 1999, as amended. NSFAS is governed by the NSFAS Act 56 of 1999, as amended, the Public Finance Management Act 1 of 1999, the National Treasury Regulations, Constitution, and other relevant laws. NSFAS subscribes to the principles of the King IV Code of Corporate Governance, 2016.

The Accounting Authority of NSFAS hereby invites applications from suitably qualified candidates to be appointed as independent Members of the NSFAS Audit & Risk Committee in terms of the Public Finance Management Act 1 of 1999, as amended, and other relevant laws. Applications are invited from professionals who wish to serve as Independent Audit and Risk Committee members for a period of three (3) years. Applicants must have post graduate qualifications in either Audit (internal and external), Technology and Information Governance, Law, Risk Management and Governance. The ARC is a statutory Committee and candidates are expected to have advanced understanding of the fiduciary duties as outlined in the Public Finance Management Act, the Companies Act, 2008 (Act 71 of 2008) and King IV on Corporate Governance.

Chairperson Requirements The Chairperson will provide strategic leadership and ensure effective oversight of the ARC’s responsibilities. Candidates should: 

• Preferably be a Chartered Accountant (SA) with a minimum of five (5) years’ experience chairing Audit and Risk Committees of entities of comparable scale and complexity to NSFAS.
• Demonstrate in-depth knowledge of governance, financial management, internal controls, risk management, and audit assurance in the public sector or large organisations.
• Strong understanding of the PFMA, National Treasury Regulations, Companies Act, and King IV.
• Possess strong leadership, independence, integrity, and sound judgment.
• Strong analytical, problem-solving, and communication skills.
• Proven knowledge and experience in a Higher Education Environment will be advantageous.

Independent Member Requirements Two additional independent members will be appointed to strengthen the ARC’s skills base. Candidates should demonstrate qualifications and experience in one or more of the following areas:

• Finance · Risk Management · Internal Audit.
• Must have exposure of a minimum of 5 years serving as an Audit Committee Member.
• Strong understanding of the PFMA, National Treasury Regulations, Companies Act, and King IV.
• Proven knowledge and experience in a Higher Education Environment will be advantageous.
• Strong analytical, problem-solving, and communication skills.
• Demonstrated independence, objectivity, and ethical leadership.
• Registration with the South African Institute of Chartered Accountants (SAICA) will be advantageous.

Applicants with foreign qualifications must be evaluated by the South African Qualifications Authority (SAQA) and relevant report must be submitted with the application. It is the applicant’s responsibility to have foreign qualifications evaluated by the SAQA. Successful applicants will be required to undergo appropriate background checks. Correspondence will be limited only to the shortlisted applicants. Interested applicants must submit an application letter, detailed Curriculum Vitae, certified copies of academic qualifications and identity Document (not older than 3 months) to applications@nsfas.org.za.

PLEASE NOTE AND ABIDE BY THE FOLLOWING:

1. Each application must be accompanied by a covering letter, applicant’s detailed Curriculum Vitae or profile, copies of academic qualifications, certified copies of the ID and qualifications of the applicant.
2. In the covering letter, the applicant must indicate the vacancy they are applying for.
3. Nominations/applications must be sent to applications@nsfas.org.za.
4. Enquiries may be directed to Mr. Bantu Mazibuko on bantu.mazibuko@nsfas.org.za.
5. NSFAS only corresponds with shortlisted candidates.