Chairman’s report for 2012/2013
Thank you for attending our 109th AGM. It is with great pleasure that I provide my report
covering the past year and the more so in that the IOB started its journey back from the
brink of closure during this period.
At the AGM of 24 October 2012 the members mandated the Directors to:
Design and create a business plan and strategy for the IOB
Amend the MOI in accordance with the Companies Act (71 of 2008)
Ensure the IOB membership is recorded and managed appropriately
Consider the audited annual Financial statements dated 31 Dec 2011
Ensure the appointment of the auditor, attorney and company secretarial functions
Call an Annual general meeting
I am pleased to report against these various items;
The AGM was called for 15 August 2013.
Financials
The audited financials for 2011 were approved at the AGM held on 24 October 2012.
The audited financial statements for the year ended 31 December 2012 have been produced
and accepted by the Board. They indicate a slight profit during the second half of the year as
a result of significantly reduced overheads and running regular NCA exams for the motor
dealers.
Company Documents
The MOI was amended according to the requirements of the Companies Act and was duly
lodged with CIPC at the same time as the registration documents for the new Directors. The
MOI will be slightly amended again to match the revised value proposition.
At the first meeting of the Directors after the AGM in 2012, the following appointments
were made:
Public Officer. This role will be a function of the Chairman
Company secretarial function performed by the Yield Group
The auditors appointed by the Board were Stokes and Co
No attorney was appointed albeit that the Yield Group offered the services of
Martina Biecher to assist the Institute in legal matters
The Institute of Bankers
in South Africa
Reg. No: 2002/011503/08
2nd Floor, Sandown Mews West, 88 Stella Street, Sandton.2146
PO Box 781988, Sandown, 2196, South Africa, Tel: +27 (0)11 783 4329, Fax: +27 (0) 865 688 570
E-mail: info@iob.co.za, Website: www.iob.co.za
Directors: JE Hodges (Chairman), D Fakir, M Ferreira, IG Kriel, B Makasi, TI Marx, H Potgieter, JB Strydom
Page 1 of 8
Value Proposition
The value proposition and business plan for the IOB I offer the following quote as an
introduction:
“A corporation is a living organism; it has to continue to shed its skin. Methods have to
change. Focus has to change. Values have to change.
The sum total of those changes is transformation.”
In developing the value proposition it was important to consider a new role for the Institute.
The possibility of remaining an examining body was not on the table but new legislation
allows for Professional Bodies in each sector. Being the primary member organisation for
bankers we believed the Professional Body status to be a natural fit. The application for
registration was submitted to SAQA at the end of November 2012 and the IOB was
registered as the Professional Body for the Banking Sector in March 2013.
The IOB, as the Professional Body for the sector, has a changed role with the following
requirements:
• Be legally constituted
• Protect the public interest of its members
• Develop, award and revoke our professional designations in terms of the established
and future amendments of our own rules, legislation and international conventions,
where they apply.
• Manage membership
• Set criteria for, promote and monitor continuing professional development
• Publish and monitor compliance with a code of professional conduct amongst
members
• Ensure that membership admission is applied fairly and without discrimination
• Upload and manage a fully functional information management system- which is also
compatible with the NQF.
In addition the following aspects will now be further developed and form part of a fully
functioning IOB:
• Advance the objectives of the NQF
• Promote public understanding of the role of the Professional Body
• Promote pride in the profession
• Encourage international best practice in all aspects of financial services, including
continuing professional development
• Co-operate with the relevant Quality Councils in respect of qualifications and quality
assurance in the field of our practitioners.
• Be involved in the development of a body of specialised knowledge taking due
cognisance of national and international benchmarks
In the words of Abraham Maslow:
“You will either step forward into growth or you will step back into safety.
The Institute of Bankers
in South Africa
Reg. No: 2002/011503/08
2nd Floor, Sandown Mews West, 88 Stella Street, Sandton.2146
PO Box 781988, Sandown, 2196, South Africa, Tel: +27 (0)11 783 4329, Fax: +27 (0) 865 688 570
E-mail: info@iob.co.za, Website: www.iob.co.za
Directors: JE Hodges (Chairman), D Fakir, M Ferreira, IG Kriel, B Makasi, TI Marx, H Potgieter, JB Strydom
Page 2 of 8
The new role for the IOB will deliver greater value to members and to their employers in that
it takes cognisance of different education levels of bank staff, is developed around the
overall professionalising of bankers and provides access to global accreditation and content
in a variety of ways.
The Institute has adopted the following Vision and Mission statements and these inform our
developments going forward.
The Vision:
Leading the development of professional bankers with global relevance
Our motto:
Professional body for professional bankers
Mission
To be the gateway to Professional Excellence through:
• Providing a professional and ethical development platform for our members and the
sector
• Enhancing sector skills through lifelong learning programmes
• Creation of the professional banker designations, endorsed by banks
• Recognising the diversity of careers through the creation of multiple routes to
Chartered /Professional Banker status
• Partnering with international bodies to create value locally
The Institute of Bankers
in South Africa
Reg. No: 2002/011503/08
2nd Floor, Sandown Mews West, 88 Stella Street, Sandton.2146
PO Box 781988, Sandown, 2196, South Africa, Tel: +27 (0)11 783 4329, Fax: +27 (0) 865 688 570
E-mail: info@iob.co.za, Website: www.iob.co.za
Directors: JE Hodges (Chairman), D Fakir, M Ferreira, IG Kriel, B Makasi, TI Marx, H Potgieter, JB Strydom
Page 3 of 8
The IOB Value Proposition is built on three pillars:
PROFESSIONALISE
This is done through:
1. Regulatory exams for FAIS positions. Discussions are being held with the FSB for the
IOB to provide future regulatory exams for representatives. Also the level 2 exams
National Credit Act (NCA) examinations are arranged monthly by the IOB for
employees working in the Motor Trade Industry who require NCA accreditation for
their employment.
2. Continuous Professional Development (CPD). This is a cornerstone of on-going
professionalization of bankers, a requirement for the award of designations and for
FAIS accreditation
3. Qualifications and short courses
• Develop qualifications together with the industry and training providers
• Develop appropriate short courses for the sector
• Register further designations with SAQA.
• Develop and register a board examination, which will result in the successful
applicant being awarded the highly coveted and internationally recognised
designation of Chartered Banker (SA)* (*subject to final approval from IOB
Scotland).
The Institute of Bankers
in South Africa
Reg. No: 2002/011503/08
2nd Floor, Sandown Mews West, 88 Stella Street, Sandton.2146
PO Box 781988, Sandown, 2196, South Africa, Tel: +27 (0)11 783 4329, Fax: +27 (0) 865 688 570
E-mail: info@iob.co.za, Website: www.iob.co.za
Directors: JE Hodges (Chairman), D Fakir, M Ferreira, IG Kriel, B Makasi, TI Marx, H Potgieter, JB Strydom
Page 4 of 8
CONNECT
Membership will be open to individual and corporate members.
Members will be connected to value added networks, both locally and
internationally.
INFORM
Maintain an informative and interactive
Keep members abreast of new regulations and developments in the sector both
locally and internationally.
Organise and hold conferences, seminars, workshops, member functions
Endorse appropriate industry conferences
“No enterprise can exist for itself alone. It ministers to some great need; it performs some
great service, not for itself, but for others. Or failing therein, it ceases to be profitable and
ceases to exist. – Calvin Coolidge”
Part of the requirement to reposition the Institute was to ensure that its new role is
endorsed by important industry players both locally and internationally. We have had
discussions and meetings with various bodies and are pleased to advise that the following
bodies support the IOB:
South African Qualifications Authority (SAQA)
Banking Association of South Africa (BASA)
BankSeta
Financial Services Board (FSB)
South African Reserve Bank Institute(SARB)
National Credit Regulator (NCR) with whom we have signed an MOU and will shortly
be offering debt counselling courses and exams
Alliance of African Institutes of Bankers of which the IOB was the founding member
and first president.
NCA training providers namely Sewells, Inhle, Compuscan, IDA Campus, Expede and
Intelligo Solutions for whom we run the FAIS accreditation exams
Chartered Institute of Bankers, Scotland
As Chairman, I represented the Institute at a world conference of banking institutes in
June this year. The broad church of Institutes was delighted to have the IOBSA back in
the fold and remain very supportive of our drive to reclaim our position in the banking
sector in South Africa.
The Institute of Bankers
in South Africa
Reg. No: 2002/011503/08
2nd Floor, Sandown Mews West, 88 Stella Street, Sandton.2146
PO Box 781988, Sandown, 2196, South Africa, Tel: +27 (0)11 783 4329, Fax: +27 (0) 865 688 570
E-mail: info@iob.co.za, Website: www.iob.co.za
Directors: JE Hodges (Chairman), D Fakir, M Ferreira, IG Kriel, B Makasi, TI Marx, H Potgieter, JB Strydom
Page 5 of 8
Membership
The membership numbers continue to increase and I am pleased to advise that currently we
have 372 members efficiently and appropriately managed.
IOB – Membership as at 30 June 2013
ELLIGEABLE
MEMBER TYPE
ACTIVE
NON-ACTIVE
MEMBERS
AIB(SA)
356
342
8
CAIB(SA)
5695
4046
246
FIBSA
300
184
22
LIBSA
968
895
4
ORDINARY
87534
71634
92
TOTAL
94853
77101
372
Business Plan for 2013/2014
The leadership of an organisation should fall on the CEO and senior staff. Currently the
operational role has been covered by the Chairman however; the role of CEO still needs to
be filled.
The IOB functional structure as illustrated below requires the appropriate staffing to enable
the execution of the Business Plan.
The Institute of Bankers
in South Africa
Reg. No: 2002/011503/08
2nd Floor, Sandown Mews West, 88 Stella Street, Sandton.2146
PO Box 781988, Sandown, 2196, South Africa, Tel: +27 (0)11 783 4329, Fax: +27 (0) 865 688 570
E-mail: info@iob.co.za, Website: www.iob.co.za
Directors: JE Hodges (Chairman), D Fakir, M Ferreira, IG Kriel, B Makasi, TI Marx, H Potgieter, JB Strydom
Page 6 of 8
Our business plan for 2013 /2014 will focus on the following key areas:
Appoint a CEO.
• (The CEO position will be responsible for the Marketing & Communications,
Risk & Compliance) initially support by Board Sub-Committees
Appoint a head of the Academic Department
Finance has been outsourced to an external resource, accountable to the CEO
Operations – develop policies and procedures for the Institute.
Projects will be developed to:
• Upload member results onto the NLRD – imperative for FAIS compliance
• Develop the high level CPD program for approval by the FSB
• Registration of the three (3) additional designations
• Organise and run a ‘Banking in Africa’ Conference for the AAIOB
 Host the AAIOB AGM in September 2014.
In conclusion I come to the current staffing and managing of the Institute.
Antoine de Ste Exupery said:
If you want a ship built, don’t drum up the people to gather wood, divide the work,
and give orders.
Instead, teach people to yearn for the vast and endless sea.
Board Members and IOB Staff
The Board appointed the Chairman to fulfil the operations role and the office continues to
be run by two full time staff, Martie Venter and Niekie Le Roux. Both the ladies have long
histories with the Institute and their knowledge of the IOB workings during this period has
been invaluable. They have done an excellent job in often very trying circumstances and
technology and system challenges.
The Directors have performed an invaluable role during the last year in achieving the
successes to date. The following Directors were appointed at the meeting of 27 August
2012:
• Dinesh Fakir – FNB
• Marietjie Ferreira – ABSA
• Jalda Hodges – Independent FSP
• Gert Kriel – FNB Africa
• Tom Marks – HSBC
• Henk Potgieter – FNB
• Jacques Strydom – Nedbank
• Bulelwa Makas – initially ABSA but now FNB was invited onto the Board in November
2012
The Institute of Bankers
in South Africa
Reg. No: 2002/011503/08
2nd Floor, Sandown Mews West, 88 Stella Street, Sandton.2146
PO Box 781988, Sandown, 2196, South Africa, Tel: +27 (0)11 783 4329, Fax: +27 (0) 865 688 570
E-mail: info@iob.co.za, Website: www.iob.co.za
Directors: JE Hodges (Chairman), D Fakir, M Ferreira, IG Kriel, B Makasi, TI Marx, H Potgieter, JB Strydom
Page 7 of 8
I wish to thank these directors for their dedication and commitment during the past year,
especially committing to lengthy weekly meetings for the first six (6) months.
Apart from the Board we were pleased to have the input from various consultants to assist
on the Academic Subcommittee. These people are Andre van der Merwe, Len Haasbroek
and Andrew Pampallis. Thanks to Marietjie Ferreira for chairing the Academic
Subcommittee.
Dr Michele Serffontein, an education specialist was contracted to assist with the SAQA
registration and it is largely due to her work that we attained professional body status so
speedily. She is currently driving the project to develop further designations as well as
involvement on the Academic Sub Committee. Sophia Nawrattel, a Fellow of the IOB, has
offered her services pro bono as an assistant to the Chairman.
Charles van der Watt and the Yield Group have performed the company secretarial function.
We thank them for their assistance with the submission of the new directors and the new
MOI to the offices of CIPC. The Institute is not however, required to appoint a Company
secretary as this function can be assumed by a member of the Board.
Board Directors for 2013/2014
The term of office that may be served by Board members is for two (2) years, the official
appointment date being 27 August 2012.
Gert Kriel, Tom Marks and Marietjie Ferreira have not made themselves available for reelection. The Directors who are available for re-election are:
• Dinesh Fakir – FNB
• Jalda Hodges – Independent FSB
• Bulelwa Makasi – FNB
• Henk Potgieter – FNB
• Jacques Strydom – Nedbank
Several key industry players have been approached to join the IOB Board.
• Max Makhubalu- has been nominated by Bankseta to join the IOB Board
Motions (resolutions) passed:
By show of hands – Financials accepted for 2012, approval and appointment of auditor
(Stokes and Co) 2013, re-appointment of the serving Board Directors and the acceptance of
nomination for Max Makhubalu as a new Director.
Special Business motions – acceptance by the members of the Business Plan for 2013/2014
and amendment of the MOI as logged in 2012 to CIPC and adherence to other regulations.
Chairman: JE Hodges Date: 15 August 2013
The Institute of Bankers
in South Africa
Reg. No: 2002/011503/08
2nd Floor, Sandown Mews West, 88 Stella Street, Sandton.2146
PO Box 781988, Sandown, 2196, South Africa, Tel: +27 (0)11 783 4329, Fax: +27 (0) 865 688 570
E-mail: info@iob.co.za, Website: www.iob.co.za
Directors: JE Hodges (Chairman), D Fakir, M Ferreira, IG Kriel, B Makasi, TI Marx, H Potgieter, JB Strydom
Page 8 of 8