VACANCY ANNOUNCEMENT BOARD MEMBERS AT LESOTHO POSTBANK

Lesotho Post Bank is a development oriented retail bank, entirely owned by the Government of Lesotho and supported by development partners and donors. The Bank was established in ZOOS with a mission to provide affordable and accessible financial services to the unbanked and banked population of Lesotho; its vision is to be a sustainable financial services provider of choice in the retail market and a champion of socio-economic development.
The Bank structure provides for the appointment of the Board of Directors that are appointed on a three year term. The Board of Directors all of whom need to have specialized professional experience are appointed by the shareholder. Against this back-ground, the LPB invites applications from suitably qualified candidates to fill two vacancies in the field of law and in the field of Information technology within the Lesotho Postbank Board.
1. Responsibilities of the Board of Directors
I. Leadership
The Board provides leadership and vision to the Bank in a way that will enhance shareholder value and ensure the Bank's long-term organisational health/sustainability.
Protecting Shareholders
The Bank's Board, which is appointed by the Shareholder, must keep the interests of the Shareholder/ appointing authority paramount.
Appointment of the CEO/MD and Executive Management
The Board of Directors is responsible for the appointment of the Chief Executive Officer and members of the Executive Team who manage the bank. The Board is further responsible for the assessment of the performance of the CEO
Iv. Goals and Strategies
The Board is responsible for providing a strategic direction, monitoring implementation of strategies and realizing the Bank's goals.
V. Managing Risk
The Board determines the risk appetite and monitors risk exposure
vi. Allocating Resources
The role of the Board with respect to its lending and borrowing is to decide, in a general way, to whom it lends to.
vii. Compliance
In its role as company watchdog, the Board must also en-sure the bank complies with all relevant statutes, both in-ternal and external.
viii. Audits
A Board of Directors should always know how the bank is being run. It achieves this through periodic audits which include financial and management aspects
ix. Conflicts of Interest
Boards must always keep an eye on potential conflicts of interests in both the Board and the Executive.
2.0 Qualifications and Experience
The minimum qualifications for prospective applicants shall be: • LLB Degree with at least 8 years’ experience in Corporate Governance, labour Law, Compliance and Banking industry knowledge
• OR a Postgraduate Qualification in Business Management or related discipline
• A University Degree in Information Technology (Msc will be an added advantage)
• Previous banking experience at Executive Level
• Corporate Governance and Board Membership exposure,
• Financial Planning Law Principles,
• Membership to a Professional Institution like CIS, IODSA, CISA, CA, etc would be an added advantage.
2.1 Other necessary skills and knowledge
I. Basic knowledge and understanding of the conduct of banking business and sound practical business sense with organisational and strategic acumen;
ii. High standards of ethics, integrity, objectivity and professionalism;
iii. Ability to make informed business decisions and to ask hard questions;
iv. Ability to read and make sense of financial statements;
V. Good communication skills and sound judgment;
vi. Knowledge of the responsibilities of a director as envisaged by the principles of corporate governance and total commitment to furthering the interests of the share-owners and to achieve the bank's goals.
2.2 As a Board Director of licensed and regulated bank, the Director requires at least a basic knowledge and understanding of the regulatory environment.
2.3 The Director shall perform his/her functions with diligence and care, and with such a degree of competence as can reasonably be expected from a person with his/her knowledge and experience.
INTERESTED CANDIDATES SHOULD SUBMIT THEIR APPLICATION LETTERS WITH COMPREHENSIVE CURRICULUM VITAE TO THE ADDRESS GIVEN BELOW
THE CORPORATE SECRETARY AND HEAD OF COMPLIANCE LESOTHO POSTBANK PRIVATE BAG AI21 OBLATE HOUSE K1NGSWAY STREET MASERU
Or Should be send via email to kmoeletsie@lpb.co.Is
THE CLOSING DATE FOR SUBMISSION OF APPLICATIONS IS FRIDAY 9TH MAY 2014 AT 5:00PM