Our commitment to excellence in governance is reflective of our intention to always act in the best financial interests of our members and to continue to build an innovative, responsive and customer-led organisation.
Our governance framework ensures a consistent approach to governance, which includes key policies, principles and processes, and oversight of accountability within the Trustee.
As such, our governance framework supports us to make objective and transparent decisions which are in the best financial interests of our members.
The Board Charter sets out the authority, responsibilities and operation of the Trustee Board.
The Charter also guides and informs the Directors about their responsibilities and authorities when conducting the day-to-day business of the Board.
The Trustee recognises the importance of the Board comprising Directors drawn from a range of personal and professional backgrounds, with diversity of personal characteristics and professional disciplines, including gender, ethnicity and geographic background, professional, business or occupational background and age.
The process for the nomination, selection and appointment of Employer Directors, Member Directors and Independent Directors, is detailed in our Board Appointment and Renewal Policy.
As a general principle, Directors are appointed for four-year terms and have a maximum tenure of 12 years.
This Policy also sets out the approach taken to manage the Board renewal, through effective succession planning processes that strikes an appropriate balance between ensuring continuity and bringing diversity and fresh perspectives, while recognising our obligations under the APRA Prudential Standards and the equal representation principles in the Superannuation Industry (Supervision) Act (the SIS Act).
In addition, this Policy provides the framework for the regular assessment of the performance of the Board as whole, Board Committees and Directors individually.
The Trustee is proud of its reputation as an ethical and professional company that aims to achieve the highest standard in everything it does.
The Code of Conduct (Code) outlines the required standards of conduct and demonstrated behaviours of our Directors, Employees and Contractors. The Code requires that our people act with the highest standard of integrity and keep confidential any information they are made privy to in their roles. The Code also addresses:
The Compliance Management Framework forms a key part of the Fund’s risk management processes.
The Framework enables the Fund to manage its compliance obligations and to develop a culture where all Employees are aware of their compliance obligations and consider these obligations when performing their roles.
We acknowledge that the proper management of conflicts is important in protecting members’ interests.
Conflicts must be managed in order to comply with the Trustee’s fiduciary responsibilities and relevant legal obligations, so as to effectively eliminate or minimise the risk that a conflict might adversely affect our members, and the quality and integrity of the Trustee’s decisions and the financial services provided.
The Conflicts Management Policy documents the framework for managing situations that give rise to actual, potential and perceived conflicts of interests and duties (conflicts) for the Trustee, its Directors, Responsible Persons1 , employees and representatives. The Policy sets out the Trustee’s controls and processes for:
Further, the Policy is intended to ensure that where a conflict cannot be avoided:
The Fit and Proper Policy sets out:
Our people are what makes us great and we clearly outline the ethical and behavioural standards expected of employees, as well as general terms and conditions of employment are captured in policies that collectively govern how we behave.
We regularly review our People and Culture policies to ensure they align with changing community expectations and to position the Fund as an employer of choice, as well as complying with all relevant legislation.
The Trustee operates the following Reserves:
The Risk Management Framework captures the principles and methodologies relating to risk management.
The Risk Management Framework deals with the following matters:
A Risk Register is maintained to record and assess risks.
The risk management standard AS/NZS ISO 31000 Superannuation Industry (Supervision) Act 1993 and APRA Prudential Standard SPS 220 – Risk Management were considered in the development of the Risk Management Framework.
Our Supplier Management Framework provides an overarching methodology which outlines our approach to supplier procurement, contract management, monitoring and oversight, and termination arrangements. The Framework also applies to arrangements with third party suppliers, including all material business activities that have been, or are to be, outsourced.
The Framework also ensures that the outsourcing of material functions is effectively managed and that appropriate measures are in place to protect the best financial interests and meet the reasonable expectations, of members and to protect the financial position of the Fund.
A ‘Responsible Person’ of the Trustee is:
The purpose of the Whistleblower Protection Policy is to encourage current and former employees, officers, contractors and suppliers to speak up when they see something that they do not believe is right.
We recognise that at times people may not feel comfortable raising matters through the normal management channels.
We have therefore implemented mechanisms whereby employees and others can report their concerns freely and without fear of repercussion.
This team leads the day-to-day operations of the business to ensure reliable and consistent delivery of products, services and communications to members and employers.
View Product Disclosure Statements (PDS) and Target Market Determination (TMD) documents.