Equip has the following four Board committees:
- Appeals and Review Committee;
- Audit, Risk and Compliance Committee;
- Governance and Rewards 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 2016:
Appeals and Review Committee:
Directors: Pippa Leary (Chair), Michael Clinch, John Azaris, Mark Cerche, Robin Jervis-Read (advisor)
Management: Nicholas Vamvakas, management vacancy
The role of the Appeals and Review Committee is to exercise the Board’s discretion on the payment of certain death, total and permanent disablement or total and temporary disablement benefits. 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 Appeals and Review Committee Charter here.
Audit, Risk and Compliance Committee
Directors: John Azaris (Chair), Jan Dekker, Wayne Walker, 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
Directors: Mark Cerche (Chair), Jane Simon, Michael Clinch, Andrew Fairley, Justine Hickey
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.
Directors: Jane Simon (Chair), Wayne Walker, Justine Hickey, 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.