Issue 37 (2 of 2015)

Official journal of the Financial Planning Institute of Southern Africa

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“A leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: we did it ourselves," – Lao Tzu

At the Institute we would like our missionary leaders to be known and in this issue we caught up with former FPI board member, Andrew bradley, CFP®, and current board member, Denver Fortuin, CFP®. We take a deeper look at their thoughts on leadership and their contribution to moving our profession forward.

MemberProfiles

both CFP® professionals’ interviews were conducted by Mandisa Magwaza, Value Proposition Consultant at the Financial Planning Institute.

Want to share feedback on the profiles? Interested in being featured on our next issue? Write to us at communities@fpi.co.za.

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DenverFortuin, CFP®

AndrewBradley, CFP®

Profiles

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DenverFortuin, CFP®

Executive Director: Risk and Compliance, Unisa

which career achievement is significant to you so far?

My current role as the executive director: risk and compliance at Unisa is the highlight for me. The university had a vision of pioneering a compliance function, and I was recruited to set it up. After a year has passed since my appointment as director: compliance, I was promoted to my current position and now have the added responsibility for enterprise risk management and sustainability.

This is a compliment to me as Unisa was the first higher education institution to introduce a compliance function ensuring as an institution it meets all its legislative

DenverFortuin

and regulatory requirements. I also appreciated that my employer recognised my potential and expressed confidence in me to excel in what I was appointed to do and by involving me in other key projects.

what has this meant for your personal growth?

I believe that career growth should mirror personal development otherwise there is no real progression. The personal growth has meant exposure. My exposure previously was limited to the financial services industry so when the opportunity arrived to expand my horison to the higher education sphere I took a leap as it presented an exciting new challenge. For me to operate

in my new environment, it was necessary to acquire new skills that inevitably lead to personal development.

what prompted you to want to become a board member of the Financial Planning Institute (FPI)?

I view myself as a mission member who believes in the purpose of the Institute and the importance of advancing our profession. I saw the advertisement that was released to all members, calling for nominations. I felt it was the right time and opportunity to offer my skills, commitment and time to serving my professional community.

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DenverFortuin

I applied and just like all shortlisted candidates I was interviewed by the former chairperson Prem Govender, CFP®. I was very grateful to receive the news of my appointment as a non-executive director of FPI.

Naturally as a board member one is tasked or has the responsibility of facilitating the overall direction and strategy of the organisation while developing a governance system.

What I am also looking forward to is being part of the robust discussions on how FPI plans to grow membership. I strongly feel that membership is the lifeblood of any membership organisation. The other key focus is member retention and reinforcing membership value as well recruitment of new members.

Tell us one specific insight that will inform the endeavour you just mentioned?

One thing I can attest to, from my experience being a part of a service industry, is that service delivery is critical to the person on the receiving end. People who pay for a service have an inherent expectation of valuable service. I hope to channel everything I’ve learned from serving in similar professional bodies to grow our profession further.

Having said that, the other issue I want to include on the agenda is sharpening the way we communicate to our members. We need to tap into the fundamental practices of communication science so that our key messages to members are intellectually fascinating, received on time, understood, accepted, relevant and sent within balanced intervals.

what benefit do you derive from your association with different member bodies?

Personal growth. by belonging to the various member bodies, I want to serve and also grow personally. It is definitely a reciprocal relationship, as I bring in my skills and share my insights with fellow board members, I also learn a lot through my engagements with them.

The other major benefit is growing and shaping the profession. For example in my tenure at the Compliance Institute of Southern Africa (CISA) and I facilitated collaboration between the Institute and

Unisa’s Graduate School of business Leadership (GSbL) that resulted in an occupational qualification being offered, by the GSbL, to compliance officers or those who want to enter into the profession. The course will ensure that compliance officers are properly trained and equipped to deal with the demands of their work. In a nutshell, identifying a critical need in the industry and being proactive in fulfilling that need is what’s gratifying for me.

what attributes does a non-executive director need to possess to enable him or her to fulfil their role?

One needs to have the appropriate qualifications. The appropriate qualifications depend on where you wish to serve. Having more than the appropriate qualification also serves one well especially if they are transferable. For example, my Postgraduate Degree in Financial Planning and Advanced Postgraduate Diploma in Financial Planning served me well at FPI.

The corporate governance and compliance management qualification is relevant to the role I play at the Compliance Institute of Southern Africa plus my Masters in business Leadership which is generic enables me to sit at almost any board and provide input.

being a good listener is an important personal trait to have. Often one is tempted to be heard and to pre-empt what will be said. As a board member, you are expected to listen as the executives or management team present their reports on how they are effectively implementing the strategy. Listening becomes useful and important as one is able to understand what is being presented to them and also able to ask informed questions.

Lastly is the skill to challenge; this does not mean being brash or confrontational. Ultimately as the board we are responsible for governance and at times need to interrogate whatever is being reported.

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Management can sometimes tell you what they think you want to hear, and it is for this reason that the board must be objective and read more than what is provided in the report.

Please share your opinions on the legislation facing our industry?

We sometimes view regulation in a negative and punitive way, however, some legislation has its merits. It is overregulation that should be cautioned and lobbied. For example, when FAIS was introduced there were a lot of fears and prediction of negative consequences. During these times of uncertainty is where FPI's advocacy work has been consistent. Institutes like FPI also assist members to navigate and apply the legislation.

As a strategy expert what learnings can you share when it comes to strategy formulation and execution?

Often I have observed that when it comes to strategy formulation organisations do not plan enough. Critical and divergent thinking should be embedded into the planning process as well as environmental scanning as this will affect the sustainability of the organisation. The other let down is that too

often people fall into group thinking; this happens because of strong personalities in the team being headstrong about their point of view, usually excluding others.

In terms of strategy execution, the organisation must have a visionary and competent leader to drive strategy otherwise all the great planning would be in vain.

which leaders do you look up to and what is it about them that fascinates you?

I admire a type of leadership style rather than individuals. Servant leadership is the type of leadership style that I admire; leading through serving others and setting an example. It is through serving that you are elevated to become a leader.

which life experience has taught you the biggest lesson?

When I was so much younger, I was an impatient person, I guess it is the driver in me. Looking back, the failures I have experienced (personally and professionally) have been due to my impatience and need for instant gratification.

I have worked on these weaknesses so that I strike a balance between wanting to make

things happen and letting things happen. This does not mean that one should adopt a laid back approach to things but rather have the wisdom to know when to be proactive and when to allow circumstances to unfold.

If you had not chosen the current career path what would you be doing?

I would be a full-time mentor or life coach. I would want to help people make a success of their lives looking at the individual holistically, delving in all facets of their life.

I like seeing people develop and knowing that I have contributed to their growth makes me happy. So I am quite curious to see how the group of compliance students which I am lecturing will advance in their careers.

How do you strike that work-life balance, if it exists for you?

I don’t think there’s a balance for me. My energies are unevenly dedicated on a daily basis. Depending on the crisis that may arise, my time and energy will be focused on that. So some days, work will require more of my time, causing my personal life to suffer some neglect, but there is always calm after the storm, which allows me to give my personal life the attention it needs.

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