Old Mutual’s Provincial Management Board Old Mutual’s Provincial Management Board (PMB) was created to enable positive futures through collaboration at all levels of the organisation. What are the Provincial Management Boards? Each province in South Africa has a board that is served by an Old Mutual Exco member and representatives from the business units, including Corporate, Retail Affluent, Retail Mass, Old Mutual Investment Group, Mutual & Federal and Nedbank.
We also fully support the National Development Plan (NDP) as, for us, the fundamental objectives of the Plan (reducing poverty, unemployment and inequality) can best be achieved through forging healthy public and private partnerships.
How important is networking in order to achieve the Board’s objectives? We believe strongly in the importance of networking. Senior members of OMSA as well as the Old Mutual Investment Group go on roadshows across South Africa a couple of times a year to visit various regions and meet with Provincial Management Boards, key stakeholders and employees. The main objective is to build strong relationships and networks, and then to share these insights and updates with our colleagues throughout the Old Mutual group.
Savarion Arendse, Provincial Management Board Chairman
What is their objective? The boards were established in order to drive priorities and performance in the regions. Our key objective is to promote collaboration and efficiency by aligning projects, decisions and resources of the different business units in the regions. This is to help Old Mutual South Africa (OMSA) execute its strategy in the regions with greater effectiveness. The boards enable us to maximise synergies and cross-fertilisation between the different businesses in the regions and allow us to approach customers and the communities we serve as one green group. They also play an important role in building our brand and reputation:
Who makes up the PMB membership and what are their roles and responsibilities? The PMB comprises senior leadership of each business unit represented in the province, in addition to senior leadership (regional managers) for Nedbank and Mutual & Federal, as well as the OMSA Exco. The roles and responsibilities of the PMB chairperson is as follows: • Fostering collaboration. • Removing obstacles to the PMB’s successful delivery, adoption and use. • Maintaining at all times the focus of the PMBs on the agreed scope, outcomes and benefits. • Monitoring and managing the factors outside the PMB’s control that are critical to its success.
How do they benefit the communities you operate in? Through the relationships they manage, the Provincial Management Boards play a key role in positively impacting South Africa’s socioeconomic development in the regions. It is key to our corporate culture that we strive to improve the lives of people and uplift the communities we serve, and we believe that this helps to keep the OMSA fortress strong. WESTERN CAPE BUSINESS 2017