• Ethics and Governance

in this chapter

Board Committees

 

As at 30 June 2011, the following Committees advised the Board: 

 

Audit and Risk Management (meets quarterly).

  • Peter Taylor (Director & Committee Chair)
  • John Baistow (Director)
  • Peter Ford (Director)
  • A. John Purcell (Committee Appointee)

Has oversight of internal and external audit, risk management, compliance with legal and regulatory requirements, Board policies, corporate governance requirements and bankmecu’s Constitution. 

 

Finance (meets monthly). 

  • Ron Dixon (Director & Committee Chair)
  • Helen Clarke (Board Deputy Chair)
  • Geoff Russell (Director)
  • Deirdre Blythe (Committee Appointee)
  • Phylip Doughty (CEO) Retired 31/08/11
  • Damien Walsh (Deputy CEO)

Oversees and reports to the Board on the management of the financial affairs and associated risks (credit risk, margin risk, liquidity risk, capital risk, profitability risk, off balance sheet asset and liability risk) in accordance with the Board-approved budget, policies and APRA prudential standards.

 

Sustainable Development (meets quarterly). 

  • Peter Ford (Director & Committee Chair)
  • Geoff Russell (Director)
  • John Baistow (Director)
  • Nic Bolto (Committee Appointee)
  • Phylip Doughty (CEO) Retired 31/08/11
  • Robert Allen (GM Operations)

Provides advice and recommendations to the Board on matters relating to its responsibilities for ensuring that bankmecu’s values and stakeholders’ expectations are reflected in its policies and practices, principally in the areas of social and environmental impact and business ethics. The Committee ensures that these policies and practices have a positive economic outcome and form part of the wider risk management system.

 

Nominations (meets as required).

  • Appointed Consultant (Committee Chair)
  • Appointed Consultant
  • Peter Crocker (Board Chair)

Provides advice in accordance with bankmecu’s Constitution and policies to the Board and customer-owners on the fitness and propriety of Director candidates.

 

Remuneration (meets as required).

  • Helen Clarke (Board Deputy Chair and Committee Chair)
  • John Baistow (Director)
  • Phylip Doughty (CEO) Retired 31/08/11

Reviews Executive Remuneration, provides a recommendation to members on the total remuneration payable to Directors per annum; and a recommendation to the Board as to how the total should be allocated.

 

Due Diligence (meets as required)

  • Phylip Doughty (CEO & Committee Chair) Retired 31/08/11
  • Peter Crocker (Board Chair)
  • Helen Clarke (Deputy Board Chair)
  • Peter Taylor (Director)
  • Robert Allen (GM Operations)
  • Rowan Dowland (GM Development)
  • Damien Walsh (Deputy CEO)

Provides advice to the Board and customer-owners on mergers, demutualisation and takeovers.

 

Legislative Review (meets as required) 

  • Peter Ford (Director & Committee Chair)
  • Ron Dixon (Director)
  • John Baistow (Director)
  • Phylip Doughty (CEO) Retired 31/08/11
  • John Yardley (GM Personal Banking)

Provides advice to the Board on bankmecu’s Constitution, Governance Policy, Fit and Proper Policy, governance of subsidiaries and related parties, and other issues of organisational governance.

 

Executive (meets as required) 

  • Peter Crocker (Board & Committee Chair)
  • Helen Clarke (Board Deputy Chair)
  • Phylip Doughty (CEO) Retired 31/08/11

The prime objective of the Board Executive is to manage the governance of the Board.

All Committee members are appointed annually after bankmecu’s Annual General Meeting. The Board reviews all Committee charters on an annual basis.