The role of the Risk Committee is to review, and recommend to the Board for adoption, policies and procedures on risk oversight and management so as to effectively identify, assess, monitor and manage risk and ensure accountability at a senior management level for risk oversight and management.
The Risk Committee also is responsible for ensuring appropriate disclosure is made to the market and APRA, as well as reviewing the effectiveness of the risk management and internal compliance and control systems that are in place.
As required under the Committee charter, the Risk Committee comprises four non-executive Directors, a majority of whom are Independent Directors and is chaired by an Independent Director who is not the Chairman of the Board. At least one member must be a qualified accountant or other experienced financial professional.
The current members of the Risk Committee are Gayle Tollifson (Chairman), Gai McGrath, David Foster and Tony Gill.