Corporate Governance

The Board recognises the importance of best practice corporate governance and is committed to complying with a code of conduct and other appropriate corporate governance policies. Accordingly, the Board has adopted corporate governance policies and practices designed to promote the responsible management and conduct of Genworth Australia. A brief summary of these is set out below.

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Board responsibilities and composition

The Board is ultimately responsible for setting policy regarding the strategic direction of the business and affairs of Genworth Australia.

The Board delegates day-to-day management and administration of Genworth Australia to the Chief Executive Officer who is assisted by the senior management team.

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Board Charter

The Board Charter sets out the main responsibilities of the Board, which include developing and/or monitoring of:

  • Genworth Australia's strategy and performance
  • Corporate governance and risk management frameworks
  • Financial management
  • Regulatory compliance, and
  • Remuneration.

The Board is responsible for ensuring that it has individuals with the necessary skills, experience and independence to meet its objectives. To this end, the composition and performance of the Board is reviewed regularly. The Board is also responsible for ensuring that its Directors are fit and proper, having regard to APRA, ASIC and RBNZ requirements.

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Genworth AGM