We have the following five Board Committees:
- Audit and Compliance Committee;
- Governance and Rewards Committee;
- Investment Committee;
- Risk Committee; and
- Stakeholder Engagement and Innovation 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 1 January 2021:
Audit and Compliance Committee
Directors: Mark Cerche (Chair), Carolyn Harkin, Andrew Fairley, Justine Hickey, Danny Casey and Penny Davy-Whyte
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: Simone Thompson (Chair), Danny Casey, Andrew Fairley, Peter Haysey, Deb James and Carolyn Harkin
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.
Directors: Justine Hickey (Chair), Danny Casey, Jan Dekker, Andrew Fairley, Peter Haysey and David Doolan
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.
Directors: Jan Dekker (Chair), Michael Clinch, Simone Thompson and David Doolan
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).
Stakeholder Engagement and Innovation Committee
Directors: Penny Davy-Whyte (Chair), Deb James, Michael Clinch and Mark Cerche
The role of the Stakeholder Engagement and Innovation Committee is to oversee:
- the major strategies for the delivery of the overall Stakeholder experience, including products, services and benefits to the Funds’ Stakeholders, in support of the Strategic Plan;
- the performance and services provided by the Administrator and Group Life Insurer(s) and the management of their service delivery;
- the performance and services provided of Togethr call centre, Financial Advice and customer engagement teams;
- the management, review and determination of claims, complaints and litigation relating to insurance benefits; and
- the continuous improvement of the Trustee’s Stakeholder engagement, investment and business operations through innovation and technology.