Got what it takes to serve on the Postbank board? Here’s how you can apply

Communications and digital technologies minister Mondli Gungubele has advertised posts for Postbank chairperson and non-executive directors, days after the former board members resigned. 

The Thabile Wonci-led board resigned citing “oppressive and hostile” attitude from the minister. This was hours before government’s briefing on the South African Social Security Agency grant payment issues.

Meanwhile, Gungubele invited applications from interested and suitably qualified persons to serve as non-executive directors of Postbank.  

READ MORE: Postbank board resigns over ‘hostile and oppressive’ Gungubele

Suitable candidates

Gungubele said there was a need to obtain a mixed set of competencies, experiences, and skills to strengthen and further enhance the delivery of the overall functions of the board. 

“The applicants must be people with a high degree of integrity, honesty, transparency, ethical leadership, professional competence, and due care, confidentiality, accountability and must understand the public sector governance and legislative requirements,” he said. 

What are the requirements? 

The potential candidates must have proven skills, knowledge, qualifications, and experience that would add value to the company, and are suitable to serve on the Board by virtue of their qualifications, knowledge, skills, and experience in any of the following disciplines:

• Funding and capital structure – knowledge of funding through debt and equity capital markets
• Knowledge of relevant legislative issues 
• Risk management – credit risk, market risk, liquidity and capital risk, operational risk, and finance and regulatory framework 
• Banking 
• Information Technology 
• Project Management 
• Finance, economics, and accounting-related fields 
• Corporate/ commercial law 
• Governance compliance 

Applicants must have a minimum of five years of board experience or at least eight years of experience in an executive or senior management role in the banking sector. They must also have a degree; a post-graduate degree qualification will be an added advantage.

ALSO READ: ‘I need loan sharks to live’: The human toll of Postbank’s ‘technical glitch’

“The applicants must provide a comprehensive CV supported by a motivation [letter] why the candidate is suitable to serve on the Postbank board, certified proof of academic qualifications, and an identity document,” said the minister. 

“A letter that expresses reasons for the interest in serving on the board and explaining whether the candidate was ever disqualified to serve as a director or declared a delinquent director and any information that may assist the minister in considering the application/nomination.

“Preference will be given to candidates whose appointments will enhance the diversity of skills, gender, youth, and disability representation.”

About Postbank

Postbank is a state-owned company established with the aim of conducting the business of a bank that will encourage and attract savings, and transactional services and lending facilities through, among others, the existing infrastructure of the South African Post Office.