We have the following six Board Committees:
- Audit and Compliance Committee;
- Governance and Rewards Committee;
- Innovation and Technology Committee;
- Investment Committee;
- Member and Employer Engagement Committee; and
- Risk Committee.
The Board may establish other committees or working groups comprising representatives of the Board and Management as needed from time to time.
Each Board Committee has a Charter that sets out the Committees’ powers, functions and, if relevant, specific delegated authority from the Board.
The composition of Board Committees is reviewed at least annually.
The following information outlines the composition and role of each of the Board Committees as at 21 October 2019:
Audit and Compliance Committee
Directors: Danny Casey (Chair), Andrew Fairley, Carolyn Harkin and Justine Hickey
The role of the Audit and Compliance Committee is to oversee:
- the financial management of the Fund;
- compliance with all applicable laws, regulations, standards and codes and the provisions of the Trust Deed for the Fund;
- the appointment, reward and performance of both the external and internal audit functions, the Tax Advisor, the Fund Actuaries and the Custodian of the Fund’s Assets; and
- the annual budget process and provide ongoing monitoring and oversight of financial performance against budget.
In line with the requirements for ASX listed companies, this Committee is comprised only of non-executive directors, all of whom are independent of management of the Trustee, and is chaired by a director who is not the Chairman of the Board.
Governance and Rewards Committee
Directors: Peter Haysey (Chair), Andrew Fairley, Danny Casey and Mark Cerche
The role of the Governance and Rewards Committee is to oversee the rewards, remuneration and employment arrangements of the Trustee. This includes recommending the remuneration and key performance indicators of the CEO to the Board for approval. The Committee also reviews the remuneration of the Executive team.
The Governance and Rewards Committee also oversees the governance arrangements of the Trustee and the Fund, including Board composition, conflicts management and delegations.
Innovation and Technology Committee
Directors: Penny Davy-Whyte (Chair), Carolyn Harkin, Lisbeth Rasmussen and Simone Thompson
The Innovation and Technology Committee has been established to optimise the impact of technology and innovation on the Trustee’s business operations, for the ultimate benefit of members.
Directors: Justin Hickey (Chair), Andrew Fairley, Danny Casey, Jan Dekker, Lisbeth Rasmussen and Peter Haysey
Independent advisor: Andrew Cooke
The role of the Investment Committee is to assist the Board in developing the overall investment strategy for the Fund and to oversee the implementation and management of the Investment Governance Framework, including investment risk systems.
Member and Employer Engagement Committee
Directors: Mark Cerche (Chair), Debra James, Michael Clinch and Penny Davy-Whyte
The role of the Member and Employer Engagement Committee is to assist the Board to effectively discharge its responsibilities to Fund members and beneficiaries, and to employers, in overseeing:
- the major strategies for the delivery of the overall member and employer experience, including products, services and benefits to Fund members and employers, in support of the Strategic Plan;
- the performance and services provided by the Fund Administrator and Group Life Insurer; and
- the processes for the management and determination of benefit claims and complaints.
The Board has delegated authority to the Member and Employer Engagement Committee to exercise the Trustee’s discretion in the determination of certain claims for insurance benefits.
Directors: Jan Dekker (Chair), Deb James, Michael Clinch and Simone Thompson
The role of the Risk Committee is to assist the Board in the effective discharge of its responsibility to establish and oversee a sound system of risk oversight, management and internal control.
Read the Risk Committee Charter (PDF, 217 KB).