Cook Islands National Superannuation Fund (CINSF) has welcomed two new women to its board to help guide its strategic direction and enrich its governance.

Olivia Heather, chief financial and operations officer at Vonnia’s, was voted the contributors representative, the last position to be finalised on the CINSF board.

There were nine candidates vying for the contributors representative position on the board for the next three-year term. The position was decided by 141 validated member votes from over 6000 active members.

Heather topped the poll with 49 votes.

CINSF chief executive officer Damien Beddoes said: “The overall selection followed a transparent communicated process from nomination to voting and final appointment.”

“In terms of the number of votes it is one of the better number of responses from members, historically there hasn’t been a lot of interest from members in voting for their representative.”

Beddoes acknowledged the “very small number” of votes received for the contributors representative role.

 “The most important thing to express to stakeholders is when these opportunities arise to take a little time to consider them and have your say, as what you do contribute makes a difference.”

Alongside Heather, CINSF also welcomed to its executive board Chamber of Commerce representative Rebecca Puni, Cook Islands Workers Association representative John Tini (re-elected), and non-Chamber of Commerce employers representative Heinz Matysik (re-elected). The appointments will come into effect from November 1, 2024.

Heather holds a Bachelor of Commerce in Accounting and a Graduate Diploma in Finance from Auckland University, is a chartered accountant, and also holds a Bachelor of Law from the University of the South Pacific.

She recently completed her Certification with the New Zealand Institute of Directors and is also a director of the Cook Islands Investment Corporation (CIIC).

As a daughter, wife and mother, Heather said financial security across the different generations is a priority for her just as much as it is for any member of the fund.

She was motivated to join the board “encouraged by the recent strides CINSF are making in enhancing the governance and structure of the Fund”.

Over the past decade, Heather believes she has cultivated a strong commitment for inspiring good leadership and higher performance within the organisations she supports.

Along with her experiences and qualifications, these attributes uniquely position her to making meaningful contributions to the board.

Heather commends the current board, “for its strong management and leadership, and for the exceptional work in positioning the Fund where it stands today”.

Her aim is to continue building on this foundation, “providing strategic direction and continuing the excellent progress”.

She doesn’t take her role lightly.

“I want to get a good grasp of the concerns, and praises, of the members as the Fund navigates this period of transformation.”

Of particular interest to Heather is the results of the recent CINSF survey.

“These insights will be crucial in aligning our strategies with member perspectives and ensuring that their views are fully represented in our ongoing efforts.”

Chamber of Commerce representative Rebecca Puni is a director at Vodafone Cook Islands, Asiaciti Trust Pacific Limited, and the Chamber.  

Rebecca Puni is the new Chamber of Commerce representative on the Cook Islands National Superannuation Fund Board. NANETTE WOONTON/24090408

She works in the offshore finance sector managing trust and corporate structures.

Puni is “humbled” to take up this responsibility at a time when the governance structure of the CINSF Board is under review.

“I believe I can add value to the review by utilising my past and current governance experience,” she said.

Her family’s new business, Holistic Medical Clinic, a private general practice run by her husband Dr Teariki Puni, became a member of the Chamber in 2023.

They have both found Chamber’s support very helpful.

She said their Chamber membership has also enabled them to broaden their business network in ways they could not have done on their own.

“For any businesses out there who aren’t members of the Chamber, I would strongly encourage them to join.”

Puni is also a member of the Parents and Teachers Associations at Tereora College and Apii Nikao. She believes her extra pair of hands can add value whether it be cooking, tutoring and to promote academic excellence.

Puni holds a Bachelor of Laws and a Master of Laws with merit focusing on public international law from Victoria University of Wellington. In 2012, she completed a Master of Laws in corporate and commercial law with honours from Auckland University.

She has over 20 years post admission experience practicing as a lawyer and working as in-house legal counsel in the areas of civil proceedings, commercial law and trusts.

Meanwhile CINSF is undertaking public consultations with members to strengthen the governance of the Fund including the rebalancing of responsibilities and proposed changes to the board representatives.

“The proposed changes will provide a more robust selection process for all Board positions requiring Board Representatives to pass fit and proper person tests, provide for skills, qualifications and experience in the industry,” CINSF said in a statement.