Organisational Structure and Governance
Ms Margaret Makeham-Kirchner has been acting as Managing Director Critical and Utilities since 10 July 2020. Mr Rob Ritchie’s contact with IPFA concluded on that date.
Accountable Authority
In accordance with the Order to Establish IPFA as an executive agency, issued under section 65 of the PS Act the CEO position is the Agency Head. Under the PGPA Act the Agency Head holds the role of Accountable Authority.
Name | Period | Period as the Accountable Authority or member within the reporting period | |
|---|---|---|---|
Position Title/Position held | Date of Commencement | Date of cessation | |
Ms Leilani Frew | CEO | 1 July 2019 | 30 June 2020 |
Leadership Team
The central element of IPFA’s corporate governance structure is our leadership team, which providers strategic oversight and leadership in pursuing and achieving IPFA’s purposes and vision as outlined in its Corporate Plan.
The leadership team brings together extensive commercial advisory, project development, financing, government administration and policy skills and experience. Responsibilities of the leadership team include setting and monitoring IPFA’s strategic direction, overseeing business
activities, managing the Risk Management Framework, as well as managing budget and workforce.
Organisational Business Lines
IPFA is organised to deliver its services through the following business lines:
1. Project and Commercial Advisory Services
Focuses on client outcomes and the delivery of high quality, independent commercial and financial advice and program management services through three business units:
- Transport and Industry supporting our clients with federally funded infrastructure projects and programs in the land transport and industrial sectors.
- Critical and Utilities supporting our clients delivering federally funded infrastructure projects and programs in the energy and water sectors as well our clients in the foreign and home affairs portfolios.
- Cities and Social supporting our clients delivering federally funded infrastructure projects and programs in the health, education, and housing sectors as well as our clients focused on infrastructure enabled outcomes in the nation’s cities, regions and territories.
2. Client, Centrals and Cabinet Engagement
Drives engagement with Cabinet and Central agencies and the development of new work activities with potential client agencies and stakeholders. A strong stakeholder engagement function underpins our client centric project advisory work and enables us to inform and assure decision makers.
3. People, Performance and Finance
Maintains and strengthens our organisational health and ensures we have sustainable resources, policies, systems and processes to deliver on our purposes. Also fosters a diverse, inclusive, high performance and flexible working culture, supported by an effective governance and corporate structure, to attract, engage, enable and retain talented team members.
IPFA Audit Committee
The role of the Audit Committee is to provide independent advice and assistance to the CEO on the appropriateness of IPFA’s financial and performance reporting responsibilities, risk oversight and management, and systems of internal control.
The Audit Committee is not responsible for the executive management of these functions and works closely with the leadership team as initiatives and activities are implemented.
The Audit Committee Charter sets out the Audit Committee’s role, authority, responsibilities, composition and tenure, reporting, and administrative arrangements. The Charter is available
at www.ifpa.gov.au/about.
The Audit Committee’s membership comprises three or more members at all times. Each member is appointed by the CEO and all current members are independent of IPFA. Each member is appointed for an initial period not exceeding three years. At the conclusion of the initial term, re-appointment for a further period not exceeding two years may be considered.
Audit Committee members, collectively, have a broad range of skills and experience relevant to the operations of IPFA. IPFA ensures at least one member of the Audit Committee has accounting or related financial management experience and an understanding of accounting and auditing standards in a public sector environment.
For the reporting period membership of the Audit Committee consisted of:
- Ms Josephine Schumann
- Ms Dina Glass
- Ms Liz Caelli
Audit Committee members are engaged on a Commonwealth Contract for Professional Services. These procurement arrangements are consistent with requirements of the Commonwealth Procurement Rules. Remuneration arrangements are negotiated with each Committee member. Any travel costs which Committee members must necessarily incur are paid by IPFA.
The Audit Committee Charter requires the Committee meet at least four times per year. Over the reporting period four meetings were held.
Representatives of the Australian National Audit Office (ANAO) are invited to observe each Audit Committee meeting.
Member name | Qualifications, knowledge, skills or experience (include formal and informal as relevant) | Number of meetings attended / total number of meetings | Total annual remuneration |
|---|---|---|---|
Chair Ms Josephine Schumann | Ms Jo Schumann has extensive experience in the public sector having worked in both the ACT and Commonwealth public sectors and for the Canadian Government. Jo’s experience encompasses a broad range of areas including risk management, governance and assurance, finance, human resources, information technology, media and communications. During her 30 year career, Jo has held senior executive positions responsible for Corporate Services at the Department of Veterans Affairs (1998 – 2009) Australian Competition and Consumer Commission (2010-2015) and Murray Darling Basin Authority (2015-2017) Jo holds a number of Board Chair and non-executive positions in the government and community sectors. In addition to her role as Chair of the IPFA Audit Committee, she is currently the independent Chair of the Climate Change Authority Audit Committee. | 4 / 4 | $3,800 |
Member Ms Dina Glass | Ms Dina Glass is an experienced senior executive and corporate counsel, advising government and private sector organisations on strategic direction, governance, compliance, risk management, establishment of corporate functions, project management, transactional matters, litigation and dispute resolution and regulation. Dina has particular focus and interest in the finance and infrastructure sectors, regulatory agencies and working for government. Dina’s areas of expertise include: governance, compliance and risk management in a wide range of organisations and regulatory environments including corporate secretarial functions for public sector entities policy and strategy development and implementation management of diverse teams and stakeholders including change management negotiation, due diligence and project management of complex and high profile financial services transactions advice on development of financial services products including operational features and drafting terms and conditions | 4 / 4 | $9,100 |
Member Ms Liz Caelli | Ms Liz Caelli has over 20 years experience in the Australian Public Service, including over 12 years in audit and risk related roles. Liz is currently the Director, Evaluation, Audit and Risk and Chief Audit Executive at the Department of Infrastructure, Transport, Regional Development and Communications. She is responsible for the delivery of internal audit services, developing and maintaining the department’s risk management framework and providing secretariat services to the Audit and Risk Committee. Liz holds a Bachelor of Commerce and is a Professional Member of the Institute of Internal Auditors Australia. Liz is a Certified Internal Auditor and has a certification in Risk Management Assurance. | 4 / 4 | Not Applicable |
This figure summaries the skills and experience of each Audit Committee member as well as the number of meetings attended and remuneration for financial year 2019-20.
Governance Framework
IPFA has a framework of policies and guidelines consisting of Accountable Authority Instructions (AAIs), Operational Guidelines, Human Resources (HR) Policies, processes and behaviours to ensure it delivers on its purpose and vision, conforms to its obligations and meets expectations of accountability and transparency. The Audit Committee has a program of reviewing these policies.
Portfolio Budget Statements
IPFA had a single portfolio program outcome, outlined in the Australian Government’s Portfolio Budget Statements being:
To leverage additional private sector investment in infrastructure and secure better returns from the Commonwealth’s investment by assisting the Government to identify, assess, and broker financing opportunities for infrastructure and projects, including through engagement with Commonwealth entities, State and Territory governments and the private sector.
Corporate Plan
IPFA’s Corporate Plan outlines the agency’s priorities and strategic activities, the operating environment in which it works, and the performance framework including key performance indictors (KPIs), targets and success measures for each KPI. Our performance against the 2019-20 KPIs and performance targets is measured and reported in the Annual Performance Statement contained in this Annual Report.
The most recent Corporate Plan covering the period 2020-21 to 2023-24 was released on 31 August 2020, and is available on at www.ipfa.gov.au.
Visit
https://www.transparency.gov.au/annual-reports/infrastructure-and-project-financing-agency/reporting-year/2019-20-9