PIC Vacancies – 12 June

To apply, click on the link at the end of the posts and all the best with your applications

Call for appointment of an Unlisted Investments Independent Expert to the Public Investment Corporation’s Investment Committee – Unlisted Investments and Unlisted Property Investments (IC-UI&UPI) for a twenty-four (24) months fixed term contract

The Public Investment Corporation SOC Limited (PIC) was established in terms of the Public
Investment Corporation Act, 2004 (Act No 23 of 2004) (the PIC Act), as amended, as a wholly StateOwned Company. The Minister of Finance is the sole shareholder representative on behalf of the
South African Government.

The PIC is a registered Financial Service Provider (FSP), licenced Category II FSP, in terms of the
Financial Advisory and Intermediary Services Act, 2002 (Act No 37 of 2002) as amended. The
primary purpose of the PIC is to invest certain monies received or held by, for or on behalf of the
Government of the Republic of South Africa and certain bodies, councils, funds and accounts. As
custodian of substantial assets generated by the labour of generations of South Africa’s public sector
employees, the PIC has a responsibility to conduct its affairs with integrity, transparency and in an
exemplary manner. The PIC work contributes to the well-being of present and future generations of
pensioners, member beneficiaries and South Africans at large.

The PIC manages a diversified portfolio to generate good financial returns for clients over a long
period while supporting positive, long-term socio-economic development.

The clients of the PIC are mainly pension, provident, social security and guardian funds. PIC’s
mandate is to invest funds on behalf of these clients, based on investment mandates agreed with
each client and approved and regulated by the Financial Sector Conduct Authority (FSCA). Among
the PIC’s primary clients are the Government Employees Pension Fund (GEPF), the Unemployment
Insurance Fund (UIF) and the Compensation Fund (CF).

The PIC has a Board of Directors that govern and has overall accountability for the well-functioning
of the company. The Board has established an IC-UI&UPI in line with Section 72 of the Companies
Act, 2008 (Act No 73 of 2008), as amended; Section 7 of the PIC Act and Principle 6 of King V Report on Corporate Governance for South Africa, 2025. The IC-UI&UPI was established to assist
the Board in discharging its statutory duties and responsibilities in relation to investment activities;
consider and approve unlisted investment-related policies; unlisted investment proposals
recommended by the Group Management Investment Committee – Unlisted Investments and
Unlisted Property Investments (GMIC- UI&UPI) and make such recommendations as it considers
appropriate to the Board in line with the applicable Delegation of Authority Framework. The ICUI&UPI is also responsible for overseeing the implementation unlisted investment decisions,
monitoring the performance of unlisted investments, and reporting on unlisted investment activities.

In line with the IC-UI&UPI Terms of Reference, the PIC seeks to appoint an Unlisted Investments
Independent Expert for a period of 24 months to enrich the IC-UI&UPI’s skills and, therefore, invites
qualified, experienced, competent, and interested individuals to submit a comprehensive curriculum
vitae with a cover letter for consideration to be appointed as an Unlisted Investment Independent
Expert to the IC-UI&UPI.

The key responsibilities of the successful individuals will include, but are not limited to:

• Contribute to the unlisted investment and management expertise of the IC-UI&UPI by
  providing independent technical, commercial and financial input to assist members of the ICUI&UPI to enable decision-making regarding unlisted investments; and
• Provide, as and when required, input regarding unlisted investments trends and
  developments within the sector or industry to enhance members’ decision-making process.

Individuals interested to be appointed as an Unlisted Investments Independent Expert must have
integrity, demonstrate ethical behaviour and meet a combination of the following criteria:

• At least 10 years’ experience in investment analysis, asset manager selection, and pension
  fund investments in respect of either unlisted investments, at least 5 of which were at a senior
  level
• Possesses a qualification (Honours’ or Masters’ Degree) in investment analysis, actuarial
  science or similar financial discipline, further academic or professional qualification preferred
• Experience in serving on investment or credit committees, with a particular focus on skills
  related to empathy and mentoring investment teams
• Technical and/or operational expertise in social/economic infrastructure investments, venture
  capital, and asset classes within the PIC unlisted investment portfolio
• Asset management experience in South Africa, Rest of Africa, and internationally
• Critical evaluation of unlisted investment proposals
• Honesty and willingness to demonstrate independent thinking from group positions in a
  constructive manner, and lack of conflicts of interests
• Be committed to the PIC’s vision, mission and values
• Not be disqualified to be appointed as a Director or Trustee

The submissions must be emailed to the following email address:
Unlistedindependentexpert@pic.gov.za

or posted to the PIC offices and marked for the attention of:

Company Secretariat
Public Investment Corporation
Private Bag X187
PRETORIA, 000

Closing date for submission of CVs: 12 June 2026

Written enquiries can be sent via email to Unlistedindependentexpert@pic.gov.za

By submitting your application for consideration as an Independent Expert, you are granting the PIC
consent to process your personal information in accordance with the Protection of Personal
Information Act, 4 of 2013 as amended. Applicants will be subjected to a vetting process to ensure
that candidates shortlisted for consideration have integrity, are honest, ethical, appropriately
qualified, skilled, and experienced.

Correspondence on the outcome of the appointment process shall be limited to the successful
candidates.

The PIC is an equal opportunity employer with an objective to include 50% women and 5% people
with disabilities to its governance structures. Preference will be given to South African citizens.

Call for appointment of Unlisted Property Investments Independent Expert(s) to the Public Investment Corporation’s Investment Committee – Unlisted Investments and Unlisted Property Investments (IC-UI&UPI) for a twenty-four (24) months fixed term contract

The Public Investment Corporation SOC Limited (PIC) was established in terms of the Public
Investment Corporation Act, 2004 (Act No 23 of 2004) (the PIC Act), as amended, as a wholly StateOwned Company. The Minister of Finance is the sole shareholder representative on behalf of the
South African Government.

The PIC is a registered Financial Service Provider (FSP), licenced Category II FSP, in terms of the
Financial Advisory and Intermediary Services Act, 2002 (Act No 37 of 2002) as amended. The
primary purpose of the PIC is to invest certain monies received or held by, for or on behalf of the
Government of the Republic of South Africa and certain bodies, councils, funds and accounts. As
custodian of substantial assets generated by the labour of generations of South Africa’s public sector
employees, the PIC has a responsibility to conduct its affairs with integrity, transparency and in an
exemplary manner. The PIC work contributes to the well-being of present and future generations of
pensioners, member beneficiaries and South Africans at large.

The PIC manages a diversified portfolio to generate good financial returns for clients over a long
period while supporting positive, long-term socio-economic development.

The clients of the PIC are mainly pension, provident, social security and guardian funds. PIC’s
mandate is to invest funds on behalf of these clients, based on investment mandates agreed with
each client and approved and regulated by the Financial Sector Conduct Authority (FSCA). Among
the PIC’s primary clients are the Government Employees Pension Fund (GEPF), the Unemployment
Insurance Fund (UIF) and the Compensation Fund (CF).

The PIC has a Board of Directors that govern and has overall accountability for the well-functioning
of the company. The Board has established an IC-UI&UPI in line with Section 72 of the Companies
Act, 2008 (Act No 73 of 2008), as amended; Section 7 of the PIC Act and Principle 6 of King V
Report on Corporate Governance for South Africa, 2025. The IC-UI&UPI was established to assist
the Board in discharging its statutory duties and responsibilities in relation to investment activities;
consider and approve property investment-related policies; property investment proposals
recommended by the Group Management Investment Committee – Unlisted Investments and
Unlisted Property Investments (GMIC- UI&UPI) and make such recommendations as it considers
appropriate to the Board in line with the applicable Delegation of Authority Framework. The ICUI&UPI is also responsible for overseeing the implementation of investment decisions, monitoring
the performance of unlisted property investments, and reporting on property investment activities.

In line with the IC-UI&UPI Terms of Reference, the PIC seeks to appoint Unlisted Property
Investments Independent Expert (s) for a period of 24 months to enrich the IC-UI&UPI’s skills and,
therefore, invites qualified, experienced, competent, and interested individuals to submit a
comprehensive curriculum vitae with a cover letter for consideration to be appointed as Unlisted
Property Investments Independent Expert (s) to the IC-UI&UPI.
The key responsibilities of the successful individuals will include, but are not limited to:

• Contribute to the property investment and property management expertise of the IC-UI&UPI
  by providing independent technical, commercial and financial input to assist members of the
  IC-UI&UPI to enable decision-making regarding property investments; and
• Provide, as and when required, input regarding property trends and developments within the
  property sector or industry to enhance members’ decision-making process

Individuals interested to be appointed as Unlisted Property Investments Independent Expert must
have integrity, demonstrate ethical behaviour and meet a combination of the following criteria:

The submissions must be emailed to the following email address:
Propertyindependentexpert@pic.gov.za

or posted to the PIC offices and marked for the attention of:

Company Secretariat
Public Investment Corporation
Private Bag X187
PRETORIA, 0001

Closing date for submission of CVs: 12 June 2026

Written enquiries can be sent via email to Propertyindependentexpert@pic.gov.za

By submitting your application for consideration as an Independent Expert, you are granting the PIC
consent to process your personal information in accordance with the Protection of Personal
Information Act, 4 of 2013 as amended. Applicants will be subjected to a vetting process to ensure that candidates shortlisted for consideration have integrity, are honest, ethical, appropriately
qualified, skilled, and experienced.

Correspondence on the outcome of the appointment process shall be limited to the successful
candidates.

The PIC is an equal opportunity employer with an objective to include 50% women and 5% people
with disabilities to its governance structures. Preference will be given to South African citizens.

Senior Analyst: Performance & Attribution

The Public Investment Corporation SOC Limited (PIC) is an asset management firm, whose
mandate is to make investments in various sectors of the economy on behalf of public sector
entities. Amongst our clients are the Government Employees Pension Fund, the
Unemployment Insurance Fund and the Compensation Fund. Over the years, we have grown
to be amongst the top and largest investment managers in South Africa and the rest of the
African continent, with current assets under management at over R3.5 trillion. At the centre
of our growth is a team of self-driven professionals who are results-focused

We are currently seeking applications from dynamic individuals for the following position:

• Position: Senior Analyst: Performance & Attribution
• *Job Grade: D3 – D5
• Ref: SAPPCO004
• Salary: All-inclusive remuneration package negotiable
• Centre: Public Investment Corporation, Pretoria

Purpose of the role:
To deliver accurate performance measurement, attribution, and reporting for PIC portfolios.

Requirements:
Minimum qualifications and experience:

• Postgraduate degree in commerce, science or any related equivalent qualification.
• CFA, CIPM and/or equivalent advantageous.
• 5 – 8 years relevant experience.
• FAIS RE 05 certification or must be obtained within 6 months of employment.

Duties:

• Perform and manage data reconciliation between source systems and performance
  measurement and attribution systems.
• Oversee integrity and completeness of performance data across systems (e.g.,
  StatPro/Revolution, HiPortfolio, or equivalent), in collaboration with accounting, valuation, and
  investment teams.
• Calculate and validate time- and money-weighted returns (IRR) for unlisted portfolios, while
  monitoring performance and attribution across PIC’s investment portfolios.
• Measure and report portfolio performance against stipulated benchmarks on a monthly and
  quarterly basis.
• Conduct in-depth analysis of portfolio performance drivers across listed and unlisted
  investments, including attribution, vintage, sector, asset class performance, and fund manager
  returns.
• Provide insights into portfolio trends, risk-return characteristics, and benchmarking outcomes.
• Produce and present monthly, quarterly, and annual performance reports for internal and
  external stakeholders.
• Maintain and enhance performance models for listed and unlisted/alternative portfolios.
• Implement performance and attribution management practices within PIC and monitor
  compliance with mandates and policies.
• Ensure strict adherence to governance frameworks, internal controls, and audit requirements
  while supporting Global Investment Performance Standards (GIPS) compliance and verification
  processes.
• Lead, mentor, and develop graduates and analysts in performance and attribution.

Competencies and skills:

• Ability to work in a highly pressurized environment.
• Pro-active and strategic thinking.
• Performance and Attribution skills.
• Financial Industry knowledge and experience.
• Valuation techniques.
• Compliance management.
• Financial & Accounting knowledge.
• Risk management.
• Information Systems knowledge.
• Need a basic understanding of the macro environment and the inter-relation between various
  disciplines and its impact on portfolio performance.
• Moderately technical environment.
• Problem-solving skills.
• Attention to detail.
• Creativity and Innovation.
• Good communication skills both verbal and written.

Our firm values diversity, and excellence and is committed to the realisation of these across all
operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to
be part of a team that is focused on creating meaningful change, you are welcome to submit your
application for this position.

Closing Date: 19 June 2026

Grade Range: The grade range for this position is from D3 – D5, commensurate with applicable
minimum requirements

The PIC is an equal opportunities employer, aligning appointments with the PIC Employment
Equity plan.

Please forward a copy of your comprehensive curriculum vitae, quoting the position reference number, to:
Recruitment4@pic.gov.za

Credit Risk Analyst

The Public Investment Corporation SOC Limited (PIC) is an asset management firm, whose
mandate is to make investments in various sectors of the economy on behalf of public sector
entities. Amongst our clients are the Government Employees Pension Fund, the
Unemployment Insurance Fund and the Compensation Fund. Over the years, we have grown
to be amongst the top and largest investment managers in South Africa and the rest of the
African continent, with current assets under management at over R3.5 trillion. At the centre
of our growth is a team of self-driven professionals who are results-focused.

We are currently seeking applications from dynamic individuals for the following position:

• Position: Credit Risk Analyst
• *Job Grade: D1 – D5
• Ref: CRA005
• Salary: All-inclusive remuneration package negotiable
• Centre: Public Investment Corporation, Pretoria

Purpose of the role:
To manage credit risk by way of identifying, quantifying, and reporting on various forms of credit risk (e.g.
pricing, volatility, and interest rate risk). To conduct ongoing research and understanding of financial
markets to understand trends and risks to ensure informed credit risk recommendations. Prepare Credit
reports, advising appropriate credit risk ratings, pricing, exposure and making investment
recommendations with respect to the individual transactions.

Requirements:
Minimum qualifications and experience:

• BCom Degree (Finance/Accounting), BSc (Actuarial/Mathematics) or any related equivalent
  Commercial qualification.
• Postgraduate Finance or Investment-related equivalent qualification, CFA, FRM, CAIA (Highly
  advantageous).
• Minimum 4 years’ relevant experience in due diligence assessments of credit risk in Corporate
  Finance and Project Finance Deals.
• Minimum 4 years’ Credit risk experience in both unlisted and listed credit is highly
  advantageous.
• Knowledge of Credit Assessment Techniques for various asset classes.
• Knowledge of Financial Modeling and Valuation techniques.
• Knowledge of compliance requirements for investments in Asset Management.

Duties:

• To provide expert advice on credit risk factors that may influence investment decisions made on
  PIC portfolios for both listed and unlisted investments.
• To participate in due diligence of investment considerations and to provide independent risk
  assessment detailed reports, with recommendations to the various committees to inform
  decision-making.
• To assess investment considerations against both the client mandates and the PIC’s internal
  investment related and other applicable policies and processes, which assessment will form part
  of the overall risk assessment to inform decision-making.
• To conduct ongoing risk monitoring, at investment and portfolio level for reporting to PIC
  Management, Client and Board (as required)
• To participate in ad-hoc credit and investment risk related projects and activities related to
  improving ways of measuring, managing, reporting and/or minimizing risk while ensuring
  maximised return on all PIC portfolios.
• To participate in quarterly monitoring of investments (as required), including impairment
  calculations.
• To participate in ad-hoc requests from clients and/or PIC management to provide input into the
  risks and opportunities for portfolio optimisation.
• Contribute to the enhancement of credit risk and investment risk processes to enable continued
  robustness of PIC’s risk management.
• To conduct ongoing research and understanding of financial markets to understand trends and
  risks to ensure informed credit risk recommendations.

Competencies and skills:

• Knowledge of systems used in investments to perform and apply analytical skills
• Valuation techniques for various asset classes (listed, unlisted and property assets)
• Credit risk management for various asset classes (listed, unlisted and property assets)
• Due diligence and Credit restructuring skills
• Knowledge and understanding of financial and non-financial risks
• Financial/Investment risk management
• Investment Compliance management
• Risk Monitoring and Reporting (‘Cradle to Grave’)
• Programming skills given the dependency on model usage
• Strong analytical skills
• Strong research skills
• Strong financial modelling skills
• Strong presentation skills (written and verbal)
• Ability to work and collaborate with multiple teams in the Investment Process
• Ability to work independently to execute mandated tasks
• Ability to communicate at senior management level
• Ability to work under pressure and to tight deadlines
• Ability to travel (domestically and internationally) to conduct of due diligence
• High degree of ethical conduct to ensure integrity of the investment portfolios and the PIC

Our firm values diversity, and excellence and is committed to the realisation of these across all
operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to
be part of a team that is focused on creating meaningful change, you are welcome to submit your
application for this position.

Closing Date: 18 June 2026

Grade Range: The grade range for this position is from D1 – D5, commensurate with applicable
minimum requirements.

The PIC is an equal opportunities employer, aligning appointments with the PIC Employment
Equity plan.

Please forward a copy of your comprehensive curriculum vitae, quoting the position reference number, to:
Recruitment4@pic.gov.za

Compliance Officer: Mandate Compliance

The Public Investment Corporation SOC Limited (PIC) is an asset management firm, whose
mandate is to make investments in various sectors of the economy on behalf of public sector
entities. Amongst our clients are the Government Employees Pension Fund, the
Unemployment Insurance Fund and the Compensation Fund. Over the years, we have grown
to be amongst the top, large investment managers in South Africa and the rest of the African
continent, with current assets under management at just over R3.5 trillion. At the centre of
our growth is a team of self-driven professionals who are results-focused.

We are currently seeking applications from dynamic individuals for the following position:

• Position: Compliance Officer: Mandate Compliance
• *Job Grade: D1 – D3
• Ref: SCO04
• Salary: All-inclusive remuneration package negotiable
• Centre: Public Investment Corporation, Pretoria

Purpose of the role:
To assist the business in managing compliance risk and to provide assurance to Management, the
Board and Regulators that the PIC is aware of, and takes appropriate steps to comply with client
mandates and applicable legislation.

Requirements:

• Bachelor’s degree in Commerce/Law or equivalent related qualifications.
• At least 2 – 4 years’ relevant compliance experience within the financial services sector,
  preferably in the investment management environment.
• In-depth knowledge of asset classes and financial markets.
• Sound knowledge of legislation applicable to PIC, including but not limited to FAIS, FICA,
  PFMA, Pension Funds Act (Reg 28), CISCA, Financial Markets Act and King IV.
• Experience working with compliance and investment systems such as Charles River and
  related platforms.
• RE1, RE3 and RE5 certificates (or willingness to obtain within 6 months of appointment)

Added Advantage

• FSCA approval as a FAIS Compliance Officer.
• Registered Persons Exams (RPE) certificates for JSE Compliance Officers.
• Postgraduate qualifications in Compliance Management, Law or related financial services
  disciplines.

Duties:

• Assist with the development and maintenance of comprehensive compliance rules
  (regulatory and mandate rules) in the Charles River Investment Management System
  (CRIMS) compliance module and other relevant PIC systems.
• Run compliance tests daily to ensure that mandate breach are timeously detected, reported
  and corrected.
• Assist in preparing reports for management committees and clients.
• Send daily positions to portfolio managers which assist in investments decision making.
• Take active part in various PIC projects where Mandate Compliance is impacted.
• Handle internal and external queries related to mandate compliance.
• Assist in developing policies and procedure manuals that govern mandate compliance for
  PIC.
• To provide inputs into the compiling of compliance monitoring plans.
• To assist in performing ad-hoc functions, as and when assigned by Management.

Competencies and Skills

• High level of integrity and professionalism.
• Strong attention to detail.
• Ability to exercise sound judgement in a complex regulatory environment.
• Resilient, disciplined and able to work under pressure.
• Collaborative and service-oriented approach.
• Compliance risk management and monitoring.
• Strong analytical and problem solving skills.
• Excellent written and verbal communication skills.
• Report writing and presentation skills.
• Policy development and interpretation.
• Knowledge of corporate governance principles.
• Stakeholder engagement and advisory capability.
• Project management and planning skills.

Our firm values diversity, and excellence and is committed to the realisation of these across all
operations and investment activities. If you are dynamic, resilient, agile, disciplined and willing to
be part of a team that is focused on creating meaningful change, you are welcome to submit your
application for this position.

Closing Date: 18 June 2026

Grade Range: The grade range for this position is from grade D1 – D3, commensurate with
applicable minimum requirements.

The PIC is an equal opportunities employer, aligning appointments with the PIC Employment
Equity plan.

Please forward a copy of your comprehensive curriculum vitae, quoting the position reference number, to:
Recruitment4@pic.gov.za

We wish you all the best with your applications