Disclaimer
The results obtained from these calculators are for general purposes only to illustrate the effect of compound interest and are not intended as a substitute for professional financial advice. Before making any financial decisions on the basis of these results, you will need to consult with an independent financial planner or accountant as well as consider whether the advice is suitable to meet your personal financial objectives and circumstances.
The actual performance of any investments will depend on future economic conditions, investment management, fees and taxation. Past performance is no guarantee of future performance and as a result of this, all the results are hypothetical and are NOT GUARANTEED.
Nambawan Super specifically disclaims any liability for any direct, indirect, incidental, consequential or special damages arising out of or in any way connected with the access to or use of these calculators. To the extent permitted by law, under no circumstances will Nambawan Super be liable for any loss or damage caused by a user's reliance on the information by using these calculators.
Assumptions
Projected super balance at retirement:
The projected total super balance takes into account your starting balance, employee and employer contributions, any additional voluntary contributions as well as interest earned between now and your retirement.
Retirement age:
We have assumed a default retirement age of 65. This can be adjusted in the calculator.
Working life:
The calculator assumes that you will have a continuous working life with no breaks up to your retirement age.
Interest rate:
The default investment returns have been set at 6.0%. This is based on the Nambawan Super 10-year average interest rate.
Employee contributions:
PNG Superannuation laws dictate that 6% is the mandatory minimum contribution for employees to make. Employees may choose to contribute more than the minimum.
Employer contributions:
PNG Superannuation laws dictate that 8.4% is the mandatory minimum contribution that employers have to make. Employers may choose to contribute more than the minimum.
Nambawan Super Limited (NSL) is currently seeking to recruit a suitably qualified and experienced individual for the position of Manager Compliance for our Risk & Compliance Department.
The position is primarily responsible to ensure that NSL adheres to all the relevant Laws, Regulations, policies, and prudential standards applicable to the business. This includes regular audits, design of control systems and implementing company policies through annual compliance plans and programs.
Key responsibilities
- Prepare and execute annual compliance work plans, including resource allocation and new methodologies integration.
- Provide expert advice on regulatory matters, assess changes, and design systems to prevent policy breaches.
- Identify, monitor, and analyse compliance risks, ensuring alignment with mitigation strategies and organizational policies.
- Implement and oversee control systems within projects and across business units, ensuring adherence to standards.
- Develop obligation maps, track compliance status, and deliver detailed reports to stakeholders, including the Chief Risk and Compliance Officer.
- Collaborate with legal, P&C, and department managers to enforce standards and conduct audits.
- Evaluate business initiatives to ensure compliance with legal and risk requirements.
- Assist the Chief Executive Officer and General Manager Corporate Governance through the Chief Risk and Compliance Officer in driving compliance priorities and strategies.
- Build capacity of the compliance business unit.
- Provide leadership and coaching to the compliance team to foster professional development.
Skills and experience
- Bachelor of Law or relevant tertiary qualification.
- 6 years working experience in risk and compliance
- Proven experience in leadership of compliance or risk functions.
- Sound industry knowledge and/or understanding of superannuation/financial industry /insurance.
- Expertise in risk mitigation simulations
- Knowledge of Compliance principles – Advanced
- Planning & Organising Skills, and Delegation Skills - Advanced
- Attention to Detail, Conflict Resolution, Decision Making Skills - Advanced
- Coaching and People Development Experience
- Customer Centric - Advanced
- Business Acumen – Moderate
- Strategic mindset and Data Analysis - Advanced
Why join Nambawan Super?
It’s an exciting time to join Nambawan Super, as the Fund continues to invest heavily in new technology and innovation as part of its commitment to transform and improve our member experience. Remuneration offered, commensurate with skills and experience.
To apply for the position, please submit your application consisting of a cover letter, resume & credentials including 3 current referees to email: recruitment@nambawansuper.com.pg
Please note that only shortlisted candidates will be contacted for an interview.
