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Board Committees

Board Committees

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The NRMA Board of Directors have established the following standing Board Committees:
  • Audit & Risk Management Committee
  • Finance & Investments Committee
  • Policy & Advocacy Committee
  • Governance, Compensation & Nomination Committee.

Each Committee is comprised of a minimum of five Directors, except the Governance, Compensation & Nomination Committee, which has four members. The Group CEO is a permanent invitee of all of the Committees. Membership of the Committees is subject to regular review. Each Committee has a Charter which sets out its responsibilities and delegated authority. These Charters are approved by the Board and are regularly reviewed.

Read the Protocols for NRMA Board Committees (PDF 131KB/3 pages).

The main functions of each Committee are:

Audit & Risk Management Committee

The objective of the Audit & Risk Management Committee (ARMC) is to assist the Board in considering the integrity of the NRMA Group's financial reports and statements, the adequacy and integrity of financial and operational systems, the effectiveness of internal controls over those systems, the adequacy and integrity of the risk management framework and the performance and independence of the external auditors and internal auditors.

To assist with its duties and to contribute to its discussions and deliberations, the Committee appointed a non-voting, independent consultant, Mr Peter Merrett, a former partner of PricewaterhouseCoopers. Mr Merrett provides both advice and an external perspective on the Committee's work, without the duties imposed on a Director.  He also acts as an advisor/sounding board to the Chair of the Committee, as required.

The Committee meets four times a year and additionally as required.

Membership: Mr D Bentham (Chair), Mr A Evans (Deputy Chair), Ms D Fraser, Mr K Loades, Ms W Machin, Ms C Taylor and Mr C Wentworth (Independent External Appointee).

The Audit & Risk Management Committee Charter was adopted by the Board on 29 June 2011.

Read the Audit & Risk Management Committee Charter (PDF 23KB/3 pages).

Finance & Investments Committee

The objective of the Finance & Investments Committee (FIC) is to consider, or to assist the Board in considering, the NRMA Group's budgets, its corporate and business plans, the management and performance of its investment portfolio (including current and proposed investment and financing activities) and investment portfolio policy and strategy.

The Committee meets four times a year and additionally as required.

Membership: Mr K Loades (Chair) Mr M Tynan (Deputy Chair), Mr G Blight and Ms W Machin..

The Finance & Investments Committee Charter was adopted by the Board on 29 June 2011.

Read the Finance & Investments Committee Charter (PDF 28KB/2 pages).

Governance, Compensation & Nomination Committee

The objective of the Governance, Compensation & Nomination Committee (GCNC) is to assist the Board in considering matters in relation to the remuneration, succession planning and superannuation arrangements for the NRMA Group's Directors, Group Executive Committee (GEC) and, where applicable, employees.

The GCNC is also responsible for overseeing and making recommendations to the Board on the nomination of candidates to the Board of NRMA and the corporate governance, reputation and future sustainability of the NRMA Group.

Independent external advice may be obtained where relevant. All executive management are set key performance targets which are assessed on an annual basis.

The Committee meets four times a year and additionally as required.

Membership: Ms W Machin (Chair), Mr M Tynan (Deputy Chair), Mr A Evans, Mr K Loades and Ms C Taylor.

The Governance, Compensation & Nomination Committee Charter was adopted by the Board on 29 June 2011.

Read the Governance, Nomination & Compensation Committee Charter (26KB/3 pages).

Policy & Advocacy Committee

The objective of the Policy & Advocacy Committee (PAC) is to consider, or to assist the Board in considering, the strategic direction of the NRMA Group's public policy priorities for advocacy purposes, determining specific positions on key matters of public policy and assessing the effectiveness of its lobbying and advocacy activities.

The Committee meets four times a year and additionally as required.

Membership: Mr A Evans (Chair), Ms D Fraser (Deputy Chair), Mr G Blight, Mr D Bentham, Ms W Machin and Ms C Taylor.

The Policy & Advocacy Committee Charter was adopted by the Board on 24 August 2011.

Read the Policy & Advocacy Committee Charter (20KB/1 page).

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