Michael Tichareva is the Managing Director and Principal of National Standard Finance Africa and manages the South Africa office since having co-founded and formalized the South Africa operations in 2014. He is responsible for the Africa strategy and the strategic day to day operational management. In addition, he is involved in the origination and structuring of sovereign, sub-sovereign and private sector infrastructure, project finance and real estate deals across Africa with a strong focus on developmental finance to improve quality of lives of people and is constantly involved in a number of such initiatives.
Michael has recently been focusing on developing financing and insurance solutions to facilitate mining production, agricultural production as well as the associated commodities trading in mining and agricultural commodities in Africa given the richness of the continent in mining and agricultural resources that can be developed to improve the quality of lives of its people. Emphasis is on both primary production and value addition industries to process the raw commodities to create value for export. Michael has also been involved in renewable energy and low-cost housing development insurance and financing initiatives and continues to seek opportunities for involvement in these areas creating impact investment initiatives.
Michael has extensive relationships in both the public and private sectors in Africa and is responsible for building strategic networks and relationships in different parts of the World to progress National Standard Finance’s initiatives in Africa. Michael believes in developing solutions that are suitable for Africa within the global framework and he is currently leading initiatives that he believes will lead to accelerating Africa’s infrastructure development so that Africa can compete more confidently in the global economy. One of the solutions involve promoting the increased use of credit enhancement techniques in infrastructure finance in Africa, a structured finance solution that combines elements of banking and insurance solutions. Michael has performed coverage roles where he has been involved in deal origination and client relationship management since 2005 at Old Mutual and Nedbank in South Africa and currently at National Standard for the rest of Africa and globally.
Michael worked as a senior banker at Nedbank, one of South Africa’s largest banks, where he was involved in real estate finance deal origination and structuring as well as on-going client service and relationship management. In this role, he had exposure to both the Debt Capital Markets and the Equity Capital Markets and he has extensive knowledge of investment banking products. He also served as a Trustee of the NedGroup Retirement Funds and was a member of the Investment Committee and the Communication Committee. He also served on the Management Committee of the NedGroup Disability Scheme. Michael served as Deputy Chair of the Employment Equity Forum of the Property Finance Division. Michael is an investment and banking professional who has worked in various senior roles within the UK at AON Hewitt, South Africa at Alexander Forbes and Old Mutual, and Zimbabwe at Old Mutual for the past 20 years.
On actuarial practice, Michael is a banking actuary who leads a team of actuarial professionals in delivering banking consulting assignments that include among others IFRS 9 expected credit loss modelling and credit scorecard development for banks. Michael is looking to engage in a wide range of banking related assignments as he works to expand actuarial practice in banking. He currently leads at a global level in developing banking practice for actuaries and continues to present at various international platforms on the involvement of actuaries in banking practice.
Michael is a Fellow of the Actuarial Society of South Africa (FASSA) having qualified in 2004 through the Institute & Faculty of Actuaries (UK) in 2004. He holds an Honours degree in Actuarial Science from National University of Science and Technology, Bulawayo, Zimbabwe (1999). Michael also holds an MBA from Wits Business School (South Africa) (2012) and attended some of his electives at Fuqua School of Business, Duke University (USA) (2010) majoring in Investment Banking and Finance related subjects. He did his MBA research project on a banking related subject entitled “Analysis of Risk Adjusted Performance Measures in a Property Finance Business” where he gained in depth understanding of banking risk management frameworks, risk adjusted performance measurement frameworks and the economic capital management of banking institutions.
Michael is a former member of Council of the Actuarial Society of South Africa and he is a former Chairperson of the Education Board of the Actuarial Society. He is also a former Chairperson of the Banking Committee for the Actuarial Profession in South Africa, a position he held for 8 years to 31 December 2017. He holds other various roles within the Actuarial Society and has led a number of key initiatives over the past few years. Most notably, Michael led the development of the first ever banking qualifying subject for actuaries over a 5 year period that was finally launched by the Actuarial Society of South Africa in 2015. This banking initiative for actuarial practice, a first in the World, has received great international attention within the global actuarial profession. Michael is the current Chairperson of the recently established Banking Working Group of the International Actuarial Association (“IAA”). Michael has been an external examiner of Actuarial Science Honours degree research projects at the University of Pretoria in South Africa since 2012, and continues to lecture actuarial students taking the banking fellowship and investment fellowship subjects for the Actuarial Society of South Africa.