In January 2020, the RIC put in place the following interim streamlined management structure to improve organisational scalability and increase role alignment and decision- making speed, with the goal of improving the customer experience. The interim structure remained in place as at 30 June 2020.
At 30 June 2020, ongoing RIC staff were geographically spread across New South Wales, Queensland, the Australian Capital Territory, Western Australia and Tasmania. We are proud of our approach to flexible working and cloud-based IT environment which means that we have been able to foster recruitment opportunities outside of capital cities and create employment in regional areas. Our largest cohort of staffing numbers are employed in the Central West of NSW, with our head office located in Orange, NSW.
As at 30 June 2020, there were 30 ongoing RIC employees, four non-ongoing employees and 19 labour hire contractors across the RIC. When compared to 2018-19, this represented an overall increase of 14 employees and an increase of 17 labour hire contractors over the period.
More specifically within the Farm Business Loans Credit and Risk team, in order to support loan demand in 2019-20, there were 10 ongoing employees, one non-ongoing employee and 17 labour hire contractors. When compared to 2018-19, this represented an increase of six RIC employees and 15 labour hire contractors within the Credit and Risk team.
CEO & Board remuneration
The RIC Board and CEO are remunerated according to the determination of the Commonwealth Remuneration Tribunal. Statutory superannuation is paid in addition to the fees set by the Tribunal.
Remuneration and Work Conditions Policy & Procedure & Industrial Instruments
The RIC’s Remuneration and Work Conditions Policy and Procedure sets out remuneration information for RIC employees and includes the RIC’s classification structure, salary on commencement, salary increases and payment of salary. The terms and conditions of employment for RIC employees are set out in their Letters of Offer, Employment Agreement and the Australian Government Industry Award 2016 (Award).
RIC Senior Executives (RSE) Remuneration
The Acting Executive Director incumbents were appointed to the Acting Executive Director Positions in January 2020 in accordance with the Temporary Assignment Clause 4.4.6 contained in the RIC’s Work Conditions Procedure and Clause 14, Higher Duties in the Australian Government Industry Award. The acting Executive Director positions were paid in accordance with the RSE band contained in clause 4.1 of the RIC’s Remuneration and Work Conditions Procedure. The RSE salary does not have formal increments, rather is negotiated based on capability, experience and performance.
Other highly paid staff
One highly paid staff member was remunerated in accordance with the RIC Executive Level (REL) 2 band contained in clause 4.1 of the RIC’s Work Conditions Procedure. In addition to their base salary they were paid a ‘skills allowance’ under an Individual Flexibility Arrangement (IFA) which is contained within their Letter of Offer and was negotiated during the recruitment process and appointment to their position. The IFA is subject to an annual review in line with the employee’s anniversary date.