Temporary Full-Time Position (Maternity Leave Cover 12 Months)
The AIDF receives funds from investors and makes loans to parishes and other diocesan agencies (e.g. schools) for building or other capital works projects. The AIDF also makes housing, car and personal loans to clergy and other persons employed by the diocese.
The AIDF is seeking an experienced Customer Service Officer to join our team based in Canberra City ACT for a period of 12 months (commencing 4th June 2018) to cover a staff member going on Maternity Leave. Duties include transaction processing, banking, daily reporting, incoming / outgoing correspondence, Website Management, maintain customer account information, reception work and other administrative tasks as required.
The successful applicant will have excellent customer service skills and telephone manner, and be proficient in Microsoft Word, Excel, and Outlook. Excellent verbal and written communication skills are essential as is a demonstrated ability to maintain filing and data systems, office documents and procedures.
The salary for this position will be within a range of $65,000 - $68,000 per annum (depending on experience) plus 9.5% employer superannuation guarantee.
Applicants will be required to undergo a National Criminal History Check prior to an offer of employment.
The position description, including key responsibilities & requirements can be found here: Position Description
For all enquiries, please contact Adam Wright on (02) 6247 3744 (during business hours) or email email@example.com
If you want to join the AIDF team, please send your written application and resume addressing the key skills & experience to the email address listed above by c.o.b Tuesday 8th May 2018.
AIDF January 2017 Update
The Anglican Investment & Development Fund (AIDF) was established in 1967 and this year we celebrate our 50th anniversary. Further details will be provided over 2017 to recognise the tremendous support of our investors and those who have committed so much in the development, oversight and success of the AIDF. The AIDF has operated successfully since its inception by providing a means to:
Finance developments that promote, support and expand the mission of the Diocese; and
Allow Ministry Units, Parishioners, Diocesan agencies, Schools and others the opportunity to support missional activities across the Diocese through investing with the AIDF.
An investment in the AIDF is an ethical investment in the ministries of the Diocese. Every dollar invested enables the AIDF to facilitate the ministry of schools, Diocesan agencies, community service providers and the Parishes through loans and by providing high yielding accounts and term investments. Investors enjoy fee free transactions and benefit from rates of return that are well above the alternative offerings from the banks. AIDF’s investors are a fundamental reason the AIDF has been so successful over its long history.
During 2016 the Board considered and recently approved a change to our financial year end which will now be 31 December 2016. This aligns the AIDF with the other agencies of the Diocese and will have no impact on investors or borrowers.
Today the fund has grown to hold approximately $100m in total assets. The AIDF’s operations are guaranteed by the Diocese and its financial performance has continued to strengthen over 2016. This is evidenced by the initial financial results for 2016:
Investor funds growing significantly to reach $60m (2015: $39.7m);
The loans portfolio is $82m (2015: $85m);
Net assets have increased to $8m (2015: $7m); and
Distributions to Parishes as a result of the Community Saver Account increased to $58k (2015: $47k).
The expertise and quality of the AIDF Board plays a key role in this success. Our board members bring a wealth of experience across the areas of finance, legal, business management, risk and governance.
The Board wishes to thank investors for their ongoing support and looks forward to supporting the mission of the Diocese and all our clients over 2017.
Statutory Compliance Update January 2017
As you are aware the AIDF provided a commentary on its statutory compliance in its 2016 report to Synod. The report noted the possible changes to the regulatory environment being proposed by APRA and ASIC. This article provides an update with the latest information.
Australian Charities and Not-for-Profits Commission (ACNC)
The AIDF is a registered charity and complies with its obligations under the ACNC legislation. There are no changes to report concerning AIDF’s obligations under the ACNC legislation
Australian Prudential Regulation Authority
APRA has granted an exemption from Banking Act 1959 to religious charitable development funds (RCDFs) and the AIDF has the benefit of that exemption. The previous exemption order expired on 31 December 2016 and a new order came into effect from 1 January 2017.
Australian Securities and Investments Commission
ASIC also reviewed its exemption from the fundraising provisions of the Corporations Act 2001 that apply to charitable investment fundraisers (CIFs). A new instrument (ASIC Corporations (Charitable Investment Fundraising) Instrument 2016/813) came into effect from 1 January 2017.
APRA and ASIC use slightly different terminology. APRA uses the concept of affiliated retail investor, while ASIC uses the term retail non-associated client. While there are subtle differences in the definitions, to all intents and purpose the terms are interchangeable. APRA refers to bodies such as the AIDF as RCDFs, while ASIC refers to them as CIFs. In this update we will use the ASIC terms of retail non-associated clients and CIFs.
The AIDF has been working to ensure it complies with the new regulatory guidelines for CIFs and, to this end, has adopted the following strategies.
As of 1 January 2017:
The AIDF will only offer new investment products to associated clients, namely Anglican parishes and ministry units, Diocesan agencies, Anglican schools, clergy and staff.
The AIDF will not offer new investment products to voluntary workers until ASIC has approved the criteria by which a person is considered to be a voluntary worker.
From 1 January 2017 and before 31 December 2017:
All existing "access accounts" held by retail non associated clients will be converted to a term account with at least a 31 day notice period, which requires clients to provide the AIDF 31 days' notice in order to withdraw funds from their account. Please note – immediate access to funds under circumstances of hardship will be considered by the AIDF in accordance with its policy.
As a result of these changes the AIDF has decided to apply for an Australian Financial Services Licence (AFSL) which will allow us to offer notice and term investment products to any individual or entity, whether they are associated clients or not.
For those who will be affected by the change to 31 day notice accounts, we will contact you well before the cut-off date (31 December 2017) to assist you with the transition and to answer any queries you may have.
We have spoken to as many clients as we can and we do not expect these changes will have a major impact on our clients. That is we are being told, and our research supports this, that a large majority of our non-associated clients use the AIDF investment accounts to place surplus funds (that they don’t need day to day) to receive a good return and to support the Diocese and their Parish directly.
If you have any questions regarding the above please feel free to contact us on ph 6247 3744 or by email at firstname.lastname@example.org.
Change to Six-Monthly Interest Payment Run
To align with the change in our end of financial year the interest payments for call accounts and cheque accounts will now be made at the end of June and the end of December. These were previously March and September.
Term investment interest payments are not affected and Online Community Saver accounts will continue to have interest paid monthly.
Parish and Diocesan entity Cash Management accounts will now have interest paid monthly.
Interest Rate Update
As was widely reported, the Reserve Bank of Australia recently lowered the official interest rate.
The AIDF Board has approved a small adjustment to our own rates. Updated interest rates for AIDF Investment rates are available here #. This adjustment will apply from the 1 September 2016.
As you are aware, the AIDF is a key agency of the Anglican Diocese of Canberra and Goulburn and provides a range of investment products and lending services to our Anglican Community.
The AIDF investment rates remain commercially attractive compared to those offered within the broader banking sector. In addition, no account keeping or transaction fees apply to our savings and investments products.
This adjustment will have an immediate effect for parishes and schools who borrow from us, as rates applying to their loans will be adjusted. Donations made to local churches from investments held in Online Community Saver Accounts will remain at 0.5% pa.
Over the past year, we have continued to fund a broad range of projects throughout the Diocese. Improvements within parishes, extensions to Diocesan schools and the development of new ministries have all been made possible because of people like you who choose to invest their money with the Fund. In short, your ongoing support/investment in the AIDF is an investment in the religious, education and charitable works of our Anglican Community.
In closing, I would like to advise the AIDFs financial performance and position has continued to strengthen over 2015-16. The audited financial statements for the year ended 31 March 2016 are available here #.
Please do not hesitate to contact Leila or Nynka at the AIDF directly should you require any further information.
29 August 2016
I am delighted to publish the Anglican Investment and Development Fund’s (AIDF) 2016 financial statements. The audited financial statements for the year ended 31 March 2016 are available here #.
The financial highlights for 2016 and 2015 are:
Net interest revenue
Total comprehensive income
Distributions to the Trustee
The AIDFs financial performance and position has continued to strengthen over 2015-16. The Board manages AIDF’s security and operations safely and prudently. This is evidenced by:
The continued strong financial performance of the AIDF since its inception with Total Comprehensive Income of $1.011 million in 2016;
The AIDF has established and built its Reserve (Net assets) to $7.8 million;
The AIDF’s Investor funds have continued to grow and that growth has come from both Agencies and individuals;
The Loan portfolio is closely monitored by the Board;
All funding and therefore loans are now secured by direct mortgages which has strengthened and clarified the security position of the AIDF;
The AIDF’s financial strategy includes maintaining commercial lines of credit. The refinancing of the external facilities was completed by 31 March 2016. The financial facilities now in place are:
a $40 million overdraft facility with the Australia and New Zealand Banking Group, and
a $20 million overdraft facility with Westpac Banking Corporation.
The expertise and quality of the AIDF Board with a majority of independent directors; and
The guaranteed of the fund by the Diocese of Canberra and Goulburn contained in section 16 of the AIDF Ordinance.
I wish to acknowledge the enthusiasm and professionalism brought to their roles by Board members and the AIDF staff. The AIDF is fortunate to have people of such calibre working to ensure the success of the organization.
I look forward to working with the Board and the AIDF team in the coming year as we work to continue to strengthen the organisation and its performance.