Board and other committees
To assist the Board to discharge its responsibilities, the Board has established two Board Committees, the Audit and Risk Committee and the Bond Issue Due Diligence and Management Committee. An additional Credit Committee has been established that reports directly to the CEO.
Each committee is governed by its own charter, detailing the its role and responsibilities, membership requirements and frequency of meeting. Each charter is reviewed periodically and revised when appropriate.
Table 4: NHFIC Committees
|
Committee |
Role and responsibilities |
Membership requirements |
Frequency of meetings |
|---|---|---|---|
|
Board Committee— Audit and Risk Committee |
The primary responsibility of the Committee is to assist the Board by reviewing the appropriateness of the Board’s financial reporting, performance reporting, risk management and internal controls. |
The Committee must comprise
All members must have appropriate qualifications, knowledge, skill and experience to assist the Audit and Risk Committee to perform its functions Current members: Teresa Dyson (Chair), David Cant and Adrian Harrington. |
At least three times per year |
|
Board Committee— Bond Issue and Due Diligence Management Committee |
The primary responsibility of the Committee is to assist the Board to execute on NHFIC’s strategy and achieve the optimal pricing on bonds issued by NHFIC in the wholesale debt capital market; optimise the use of funding sources for its AHBA loans business; optimise the investment of NHFIC’s capital and reserves and short-term surplus cash; and manage NHFIC’s exposures to interest rate risk and liquidity risk. |
The Committee must comprise:
All members must have appropriate qualifications, knowledge, skills and experience to assist the Bond Issue and Due Diligence Management Committee to perform its functions. Current members: Stephen Knight (Chair), Brendan Crotty, Adrian Harrington and Kylie Rampa. |
At least three times per year |
|
Credit Committee |
The primary responsibility of the Committee is to assist the Board with the objective oversight and management of credit risk arising from providing finance to proponents eligible under NHFIC’s Investment Mandate. The Credit Committee works closely with the NHFIC credit assessment team. |
The Committee must comprise:
All members must have appropriate qualifications, knowledge, skills and experience to assist the Credit Committee to perform its functions. |
Monthly |
Further details of the responsibilities of the Committees are set out in each Committee’s charter. The charters are reviewed annually, and a copy of each charter is available on our website.
Visit
https://www.transparency.gov.au/annual-reports/national-housing-finance-and-investment-corporation/reporting-year/2018-2019-27