Board, committees & executives

It is both a strength and advantage for our fund that the people who help guide and govern the fund bring a diverse range of experience and expertise through their involvement with one of Australian’s leading financial institutions.

 

Trustee board

Our corporate trustee currently has a board of nine directors, made up of three independent directors and thereafter with equal representation of employer and member directors.

Three independent directors are appointed by the Board. Three directors are appointed by Commonwealth Bank, as the fund’s employer sponsor. To represent members, three directors are elected to the Board by eligible voting members.

All directors serve three-year terms, to a maximum of four terms.

Our directors bring a wealth of experience and diverse knowledge to help guide our fund. Read more about our current directors (including executive remuneration) or the process for appointment of directors.

 

Specialist board committees

To help the trustee in carrying out its duties, the board has a number of specialist committees. Our committees are made up of current directors as well as any non-directors that the board has appointed to serve as committee members.

Each committee has a charter describing its purpose and responsibilities, as well as its level of authority and decision-making delegated by the board, and is supported by our executive management and secretariat teams.

The board has the following 5 committees:

  • The Member Services and Claims Committee (incorporating the Insurance Management Framework Committee) monitors member services activities, including member administration, communication and education, and enquiries and complaints, as well as monitoring the fund’s insurance framework and claims process.
  • The Investment Committee reviews and develops all investment-related activity, appoints new investment managers and recommends appropriate investment changes (such as strategy) to the board.
  • The Risk and Audit Committee helps the board fulfil its governance and monitoring responsibilities in relation to financial reporting, internal control structure, risk management systems, and audit functions.
  • The Nominations Committee assists the board in ensuring that the board and committees comprise people suitable to discharge the responsibilities of being a director or non-director committee member.
  • The Remuneration Committee reports to the board on compliance with Commonwealth Bank’s Remuneration Policy and Framework on an annual basis. It also reviews remuneration recommendations and key performance indicators for all of the trustee’s responsible officers. The trustee has delegated this function to Commonwealth Bank’s Remuneration Committee.

Read more about the current membership of each committee.

 

Executive management and support

Our trustee board is supported by the executive management team of Chief Executive Officer Doug Carmichael and Acting Chief Investment Officer Ruwanie Dias.

The executives and their teams help oversee the fund’s operations, including:

  • Supporting the Board in formulating and implementing the fund’s business and strategic plans
  • Overseeing member services
  • Setting the fund’s overall investment strategy and managing and monitoring investment performance
  • Developing member communication and education materials
  • Implementing and monitoring the fund’s compliance, risk management and financial policies and procedures
  • Liaising with superannuation regulators and other government and industry groups
  • Managing relationships with service providers.

Read more about our executive management (including executive remuneration).