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Board committees

Equip has the following five Board committees:

  • Customer Experience Committee;
  • Audit, Risk and Compliance Committee;
  • Governance and Rewards Committee; 
  • Growth and Development Committee; and
  • Investment 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 committee’s powers, functions and, if relevant, specific delegated authority from the Board.

The composition of Board committees is reviewed at least annually. Each committee is structured so that it comprises an equal number of member and employer directors, which mirrors the ratio of member and employer directors on the Board. The independent director and management representatives are also members of some committees.

 

The following information outlines the composition and role of each of the Equip Board committees as at 1 July 2018:

 

Member and Employer Experience Committee

Committee members

Directors:  Mark Cerche (Chair), John Azaris, Michael Clinch, Penny Davy-Whyte 

The role of the Member and Employer Experience Committee is to assist the Board to effectively discharge its responsibilities to fund members and beneficiaries and to employers. This includes the achievement of member and employer experience goals, oversight of the performance of the fund's administrator and group insurance provider and the processes, management and determination of benefit claims and complaints. It can exercise the Board’s discretion on the payment of certain death, total and permanent disablement or total and temporary disablement benefits up to $550,000. The committee reviews cases where, for example, claims for death or disablement benefits have been denied by the Trustee or the Fund’s insurer, or where there is a dispute about the payment of these benefits. The committee also considers certain complaints made by members or employers.

Read the Customer Experience Committee Charter here.

 

Audit, Risk and Compliance Committee

Committee members

Directors: Jan Dekker (Chair), Lisbeth Rasmussen, Justine Hickey, Andrew Fairley,

The role of the Audit, Risk and Compliance Committee is to oversee the audit, financial, compliance and risk management activities of the Company and the Fund. 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 Company, is chaired by a director who is not the Chairman of the Board, and has four members.

Read the Audit, Risk and Compliance Committee Charter here.

 

Governance and Rewards Committee

Committee members

Directors: Michael Clinch (Chair), Mark Cerche, Andrew Fairley, Penny Davy-Whyte

The role of the Governance and Rewards Committee is to oversee the governance functions at Equip, and to recommend the remuneration and key performance indicators of the CEO to the Board for approval. The committee also reviews the remuneration of the senior managers as determined by the CEO and may act as a nomination committee for the appointment of the independent chairman.

Read the Governance and Rewards Committee Charter here.

 

Growth and Development Committee

Committee members

Directors: Wayne Walker (Chair), Mark Cerche, Andrew Fairley

The role of the Growth and Development Committee is to assist the Board in growing the size of the Fund to increase net benefits to members through increased scale and increased security with diversity of membership.

Read the Growth and Development Committee Charter here.

 

Investment Committee

Committee members

Directors: Justin Hickey (Chair), Lisbeth Rasmussen, Wayne Walker, Jan Dekker, Andrew Cooke (advisor)

The role of the Investment Committee is to oversee the investment of the Fund’s assets, with delegated authority from the Board to make decisions in relation to a range of investment-related matters.

Read the Investment Committee Charter here.

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