New S.N.P.F. chief puts people first
The new Chief Executive Officer of the Samoa National Provident Fund, Pauli Prince Suhren already has a strategy set out to achieve his goals in his first three-year term.
“It is prioritising the needs of contributors like you and me,” he said firmly.
“The focus is to get back to the roots; and that is to take care of our major shareholders who are the contributors.”
His appointment was approved by Cabinet on 15th February this year.
“We need to look after their interests first and foremost," the new Chief Executive Officer said.
“When I came on board, I had a discussion with the Minister – and that was about putting our contributors first.”
He said by putting the needs of the contributors as the priority, the emphasis is back in helping people.
"That is why the S.N.P.F. was set up - to help the people of Samoa (Tagatanu'u) and contributors, so their interests will come first before anything else."
“Every major decision I will take, whether its decisions on loans, investments or operational matters, I will consider and be open to suggestions and advice from management.”
Pauli said these will be the first things he will consider, “especially how it affects our contributors.”
“There are two basic rules; first; the maximization of returns for the contributors and the second; the minimization of risk to those returns.
According to Pauli it is these two important factors that as new boss, he plans to base all N.P.F's decision - making on for the next three years and possibly beyond.
Moreover, he said, ‘policies and guidelines are already in place for the N.P.F. to follow for any type of investor’.
“The N.P.F. also has in place what governs how we deal with people who want small loans, people who want short term loans, people who are investors and we have different equity investments including the Samoa Submarine Cable company.” he said.
“We are also looking at investors. I mean everything that is still under the law of Samoa, that is where we are working on now.
Pauli also pointed out that there is a certain view from the general public that N.P.F. only collects contributors’ monies.
That is not correct, he said.
“If that was the case, then there would have been no dividend given every year of at least 4 %. But most of the time in the last five years, it has been 7 % or more.
“So we cannot give the contributors that return if we don’t have the flexibility to invest people’s money."
He reiterated that the decision making is there, ‘the policies are there the guidelines are there, and the law is there to protect people’s investment’
“Like I’ve mentioned before, this comes back to my original statement, there are two main things; - maximization of returns for contributors, and the minimization of risk as much as possible.
“I can’t comment about investment decisions before my time but in the future, those are the two main things that we need to look at.
“Does it maximize the return of contributors like you and me and everyone in Samoa?
“Is there a risk to the investment?
“So every decision is going to be based on that.”
As for his new role, Pauli said he was humbled when he was appointed as the new C.E.O. of the Samoa National Provident Fund.
“I can honestly say that when I was appointed on the 15th of March this year, it was only because of the grace of Jesus Christ our Lord.
“What I said to the panel at the time, is that whatever decision that is given, that is the Lord’s decision.
“Whichever way it falls, I would accept somehow the Lord made it fall on my side.
“So I’ll look forward to the next three years and possibly beyond, to serve the government and the people of Samoa.
Pauli is married and he’s 32 years old.
PAULI PRINCE SUHREN – EDUCATIONAL BACKGROUND
1990 - 1997 Pesega Primary School
1998 - 2001 St Joseph’s College
2002 National University of Samoa
Achievement: Certificate of Attainment
Awarded an NZAID scholarship for undergraduate study in New Zealand
2003 - 2005 University of Auckland, New Zealand
Achievement: Bachelor of Business and Information Management (BBIM)
(Double major in Accounting and IT Management)
2010 Awarded an ‘Australian Leadership Award’ postgraduate Scholarship
2010 - 2011
Bond University, Australia
Master of Business and Information Technology (MBIT)
First in Class for e-Business
Placed on the Vice Chancellor’s List of Academic Excellence
Placed on the Dean’s List of Academic Excellence
First in Class for Global Business
4th (Final) Trimester
First in Class for Technology Management
Recipient of the Melbourne – IT book prize for “Excellence in Postgraduate Studies”.
Membership of Professional Organizations
Institute of Public Accountants (Australia) – Member (MIPA)
Institute of Financial Accountants (United Kingdom) – Associate Member (AFA)
Samoa Institute of Accountants (Samoa) – Member (CA)