Every board needs to consider the appointment of new directors and it is important to have a board succession plan to help with the recruitment of the new directors. Here are some things to consider in developing a succession plan and undertaking a director search.

Step 1: Know the requirements of your governing documents and legislation

What does your association’s constitution say about directors’ appointments? Does it specify things such as: term limits; a specific list of skills; geographical representation (eg, a director from each State/Territory) or other representative requirements; and/or minimum and maximum board size. Also must a director be a member of the association? This information will set some of the parameters for the succession plan.

You should also consider any requirements in associations or companies legislation. For example a company limited by guarantee must have at least 3 directors on the board, or an incorporated association in NSW must have three committee members

Step 2: Identify the skills needed on the board

It is important for the board collectively to have the range of skills required to manage the association. This can be established through the board undertaking the following exercise:

A. Identify the skills that the board would like to see sitting around the table. A useful aid is to refer to the current strategic plan – eg if the association has a focus on fundraising, you might decide that a director with an understanding of fundraising or relevant networks is important. You might end up with a list of eight or more skills required.

B. Once you know what you want, you need to look at what you have already. Have the current directors assess their skills and knowledge against that list. This will highlight any gaps.

But my constitution requires us to have a representative board!! If this is the case, this is still a useful step. Even within a representative board, you may be able to find people to be directors with the desired skills.

Note that the skills required may change over time and it is worthwhile undertaking this exercise every few years.

Step 3: Prepare a director position description

Prepare a position description for the role of director and include information about expected time requirements, travel, remuneration arrangements (if any) and the specific skills sought. Also include background information on the association.

Step 4: Finding a director

There are various options for sourcing new directors:

- Director networks; where directors tap into their network for likely candidates.

- Advertising; there are places to advertise for directors for free. When using this type of service, it is important to be very specific about the types of skills required. Otherwise you may be overwhelmed with generic applications.

Your plan should outline the proposed process for recruitment of new directors.

Step 5: Put the succession plan in writing

Capture the work you did in the previous steps as the succession plan and have it approved by the board and review it every few years. That way, you have already done the critical thinking on the type of director and how you will go about the recruitment process when board vacancies arise.

Corporate Companion is a boutique provider of corporate governance advice, services and training specialising in the not-for-profit and charitable sector. Corporate Companion can provide practical advice for a value-for-money price to your association.

Contact Charlie Robinson on 0400 404 929 or charlie.robinson@corporatecompanion.com.au for more information

The Australian Institute of Superannuation Trustees (AIST) has developed a new governance code that reinforces the importance of member representation on the boards of superannuation funds and aims to keep profit-to-member funds positioned at the leading edge of governance practices.

The draft code –which has a proposed start date of 1 July, 2017 and has been circulated to AIST’s membership for feedback and consultation –will apply to more than 50 profit-to-member funds with recommendations that exceed existing legal and APRA regulatory requirements on Australian super funds.

This will ensure the continued protection of millions of Australians’ retirement savings.

The code has been developed separately but in tandem with the Fraser review and follows a commitment made by AIST and Industry Super Australia to the Australian Senate.

AIST CEO Tom Garcia says AIST’s code – modelled and built around the ASX Corporate Governance Principles - reflects the importance of safeguarding members’ retirement savings through robust governance practices.

“Despite the overwhelming legal and regulatory requirements that already apply to super funds, AIST believes more can be done to safeguard members’ compulsory retirement savings,” Mr Garcia says. “We are asking our member funds to sign up to a code that recognises the key role that the equal representation system plays in delivering superior results for members.”

The code covers a broad range of governance issues, with 22 recommendations including recommendations on member engagement opportunities; equal director voting rights; strong risk culture; board renewal, chair appointment, disclosure, transparency and remuneration.

The code requires funds to maintain an equal representation governance structure (involving both member and employee representation) whilst also allowing the appointment of up to one third independent (nonrepresentative) directors.

Mr Garcia says the code recognizes that a host of factors contribute towards best practice governance.

“You can’t sound-bite good governance – it doesn’t come down to one factor,” Mr Garcia says. “Good governance is fundamentally about a group of people making good decisions, having the right skills and also having a strong commitment to the members they serve. AIST’s code provides a framework to ensure this continues to be front and centre to profit-to-member superannuation practices.”

This Media Release was originally sourced from AIST. 

All government agencies should follow the lead of the Ministry of Business, Innovation and Employment, and release details of their spending on contractors, the PSA says.

MBIE’s annual report shows the ministry spent $38.9 million on external contractors and consultants in the 2015/16 year.

PSA National Secretary Glenn Barclay says although that’s down from the $46 million spent in 2012/13, it’s still far too high.

"This multi-million-dollar spend is a direct result of the government’s cap on public servant numbers," Mr Barclay says.

"Since National came into power in 2008, pay and working conditions have deteriorated, so that many people with in-demand skills choose to leave permanent jobs and become contractors.

"A healthy and vibrant public service should be able to provide good jobs which are fairly rewarded, and these figures show that’s not happening."

Mr Barclay says all public sector agencies should follow MBIE’s lead, and the government needs to explain why ministries are becoming increasingly casualised.

"New Zealanders expect good public services to be delivered by dedicated employees.

"Instead, millions of dollars is going straight into the private sector’s coffers.

"I notice the new Economic Development minister Simon Bridges has issued a ‘please explain’ to MBIE.

"We would ask him to photocopy that letter and send it to all government agencies, asking them to justify their use of contractors instead of permanent, well-trained staff."

This Press Release was originally sourced from Scoop.

The first bookings have been secured for the New Zealand International Convention Centre, with Auckland winning the bids to host two large-scale international medical conferences in 2020.

The Royal Australian and New Zealand College of Ophthalmologists (RANZCO), in conjunction with the Asia-Pacific Academy of Ophthalmology (APAO), and the International Agency for the Prevention of Blindness (IAPB) will hold back-to-back conferences over about five days at the NZICC, which is scheduled to open mid-2019.

The events will deliver some $11 million in economic benefit to the city, including an estimated 15,000 room nights.

Brett O’Riley, Chief Executive of Auckland Tourism, Events and Economic Development (ATEED), says securing international conferences of this scale and prestige demonstrates that Auckland is a world-class business events destination.

“The development of NZICC has meant Auckland is now able to compete internationally for these larger scale conference and association meetings,” he says.

About the NZICC

• Five times larger than the current largest convention facilities in New Zealand.
  
• Can host conferences and one-off events for approximately 4000 people.
  
• Will have New Zealand’s largest theatre, with seating for 2850 people.
  
• Open for business mid-2019.
  

This article was originally sourced Auckland Council. 

The Australian Bar Association has welcomed in the 2017 law term with the announcement of the association’s new President, Will Alstergren QC and new CEO, Cindy Penrose.

In announcing the new appointments, the ABA acknowledged the work of 2016 President, Patrick O’Sullivan QC, referencing his tireless efforts and energy invested into advocating for legislation changes to help reduce the nation’s Indigenous incarceration rates.

“Patrick’s work over the past year demonstrates his passion to assist those in our legal system who are most in need. He has been committed to right the social injustice that is the level of Indigenous incarceration, and it is a great testament to him that the Commonwealth Attorney General invited the ABA to partner with the government in the settlement of the Terms of Reference for the upcoming ALRC examination into Indigenous incarceration,” said 2017 ABA President Will Alstergren QC.

In accepting his appointment as ABA President for 2017, Mr Alstergren QC said, “It is a great honour and privilege to represent such a uniquely independent body as the Australian Bar Association. I hope to continue Patrick O’Sullivan’s great work to further promote the availability and quality of Australian barristers, and to act as respected voice of reason and advocate for the wider community.”

Mr Alstergren QC confirmed his plans to continue the ABA’s focus on alternative practical solutions to the challenges presented by the country’s legal assistance budget.

“Australia’s legal assistance services are increasingly under-resourced leaving thousands of Australians without adequate access to quality legal advice and assistance. Of course we need to be looking at ways to increase the funding of legal assistance, but we should also look at how we can deliver justice differently and more efficiently through better use of alternative dispute resolution,” said Mr Alstergren QC.

Mr Alstergren also highlighted his commitment to members to better educate corporate counsel and law firms about the need to have barristers briefed more effectively and earlier in litigation to help clarify the management of the entire dispute resolution process, empower clients to make informed decisions, and potentially reduce overall legal fees.

The ABA has also thanked Philip Selth OAM for his work as the Association’s CEO for the period 2015-2017 and has announced the appointment of Cindy Penrose as the ABA’s new CEO.

ABA President, Will Alstergren QC said Ms Penrose ‘brings a wealth of experience to the ABA at this important stage of its development, and I am confident she will make a significant contribution to the role’.

As the first female CEO of the ABA, Ms Penrose comes with extensive experience both as a criminal lawyer and lecturer, as well as serving the NSW Bar Association as its Senior Policy Lawyer for five years. Ms Penrose holds a master’s degree in law and currently sits on the board of the Tristan Jepson Foundation.

The 2017 ABA Council – www.austbar.asn.au/about-the-aba/aba-council

• President - William Alstergren QC
  
• Past Chairman (2014), The Victorian Bar
  
• Vice-President - Christopher Hughes QC
  
• President, Bar Association of Queensland
  
• Vice-President – Noel Hutley SC
  
• President, New South Wales Bar Association
  
• Treasurer - Matthew Howard SC
  
• President, Western Australian Bar Association
  
• CV – Will Alstergren QC
  

Mr Alstergren QC is based in Victoria and has an extensive practice in the Supreme and Federal Courts. He has advised on large commercial matters and is often brought in to lead in specialist areas including company law, trusts, industrial, tax, intellectual property, construction and large complex disputes (including ASIC matters).

Mr Alstergren is a founding member of the committee to set up the Melbourne Arbitration Centre and is a current board member of the Australian Centre for International Arbitration in Sydney.

Will was the founder of the Victorian Bar's Duty Barristers Scheme and won the Victorian Bar's Pro Bono Award in 2012. He is currently completing a PhD in this area. He is a former Chairman of the Victorian Bar Council is also Vice President of the Victorian Olympic Council.

He has also conducted substantial Inquiries for the Royal Australian Navy and is a serving member of the Navy Reserve Legal Panel (Lieutenant Commander).

This Media Release was originally sourced from ABA. 

The Prime Minister’s statement yesterday that there will be no changes to Capital Gains Tax (CGT) on

housing has the full support of the residential building industry, says the Housing Industry Association (HIA).

“New housing is one of the most highly taxed commodities in the Australian economy,” said HIA Deputy Managing Director, Graham Wolfe.

“In the lead up to last year’s election there were a range of proposals from reducing CGT on investment properties to applying the tax on the family home. Yesterday’s categorical statement by the government provides continued certainty to the industry and to investors.”

“The housing industry has opposed changes to the way capital gains are currently treated on investment properties. It would mean investors pay even more tax,” said Mr Wolfe.

“Right now, around two dollars out of every five that an individual pays for a new home is tax.

“Buyers pay those taxes. And then they pay taxes on the taxes. They pay stamp duty on top of taxes, including the GST. And when they eventually sell the property, if they make any money, they pay tax on that.

“Housing cannot be asked to pay even more taxes. It would simply have the opposite effect.

“When it comes to improving housing affordability, the focus should be on increasing supply year on year. This won’t happen by removing the incentives to build new homes and placing pressure on existing housing prices to meet demand,” said Mr Wolfe.

This Media Release was originally sourced from HIA. 

The AMA has welcomed the appointment of Professor Julie Quinlivan as the Director of the Professional Services Review (PSR).

AMA President, Dr Michael Gannon, said that Professor Quinlivan is an experienced and respected medical practitioner, with considerable leadership experience in medical practice, education, and policy.

“The AMA looks forward to working with Professor Quinlivan and the Professional Services Review to ensure that both Medicare and the Pharmaceutical Benefits Scheme continue to deliver quality, cost-effective health services and pharmaceuticals to the Australian community,” Dr Gannon said.

“Her experience and high standing in the medical community will ensure that the PSR continues to safeguard the health of Australians.

“The AMA thanks outgoing PSR Director, Dr Bill Coote, and acting Director, Dr David Rankin, for their service, and wishes them well in their future careers.”

Professor Quinlivan’s three-year term begins on 13 February 2017.

This article was originally sourced from AMA. 

The SMSF Association is pleased to announce that John Maroney has been appointed Chief Executive Officer, effective from May 2017.

He succeeds Andrea Slattery, who has been the sole CEO since the Association was established in 2003, and, more recently, Managing Director.

Slattery has decided to step down in order to explore opportunities to further her professional career as a non-executive Director. She currently has a number of directorships, including but not limited to an ASX-listed company, with the aim of building her portfolio of Board Directorships, as well as senior advisory roles. She will remain a non-executive Director of the Association.

Slattery says: “The Association is recognised as the pre-eminent organisation in the SMSF community by government, regulators, educators and the industry – a tribute to our hard work over the past 14 years.

“Both the growth of our superannuation sector, its leadership in advocating dignified retirement and national prosperity as well as its integrity, are testimony to what has been achieved, making this an ideal time to pass the baton to John for the next growth phase for the SMSF sector and the Association.”

Maroney, who is a Fellow of the Actuaries Institute and has a Bachelor of Arts (Actuarial Studies) from Macquarie University, is Head of Capital and Solvency at the International Association of Insurance Supervisors (IAIS), based in Basel, Switzerland. He brings diverse experience as a senior executive to the role, having worked as the Australian Government Actuary, in the private sector (including building his own financial services consultancy), and industry and professional associations in Australia and overseas.

Speaking on behalf of the Board, Association Chairman Andrew Gale says: “John is the ideal person for the position. As CEO of the Actuaries Institute (2006-09), he played a significant leadership and advocacy role, with a particular focus on lifting educational standards and building the profession, as well as driving membership growth and developing partnerships with universities.

“He was also Executive Director of the Life Investment and Superannuation Association (LISA), which was the primary predecessor organisation to the Financial Services Council, and so has highly relevant industry association experience.

“He also has an excellent track record in building formal and informal relationships, with his current role at IAIS requiring him to deal with most global insurance regulators and many of the largest globally active insurers. When coupled with his work at the Actuaries Institute and LISA, it means he has strong advocacy and leadership skills that the Association needs for its ongoing dealings with government and regulators, particularly as we develop the drawdown and retirement phase of the superannuation system.”

Gale says John is aware that he is stepping into very large shoes as Andrea has been the driving force behind the Association for the past 14 years.

“The Association and its members, SMSF trustees, the self-managed super fund sector and the superannuation industry all owe Andrea a great debt of gratitude for her tireless work over the years.

“She has brought commitment, enthusiasm, experience and knowledge to the task, and can look back with enormous pride on an enviable record in terms of what she has achieved for the SMSF sector. With this legacy, the Board is delighted that Andrea is continuing as a non-executive Director.

Maroney says: “I am excited to join the Association. Under Andrea’s leadership, it has attracted a deserved reputation for its leadership role in the SMSF and financial services sectors, whether it be policy advocacy work, lifting educational standards or building a new profession. I have always been passionate about Australia’s superannuation and retirement income system and this position gives me the opportunity to focus on issues and concerns of millions of Australians.

“Having worked for several not-for-profit member organisations, I appreciate the need to diligently serve the membership, as well as appreciate the importance of industry integrity issues. I will continue to build on the strong foundations Andrea has established in both areas.

“I also bring my knowledge of the small business sector, having established a consultancy in the financial services space. I am aware of many of the issues our members face, and I look forward to engaging with specialists and trustees in the most dynamic superannuation sector.”

Slattery says that working for the Association has been a privilege and an honour. “In 2003, when the Association was established, there were 262,000 funds and funds under management (FUM) were $109 billion. Today, it is the largest superannuation sector in terms of FUM ($636 billion), has about 1.1 million members and boasts more than 581,000 funds.

“The Association has grown in parallel with the SMSF sector, nurturing the emergence of the SMSF specialist to service the 1.1 million members across a wide range of professional services relevant to superannuation.

“It’s a legacy in which I take great pride, acknowledging it has only been possible to achieve this in partnership with the Association’s Board, its members and my wonderful team and industry volunteers.

“Finally, I would like to put on record my genuine appreciation of the many government ministers, shadow ministers, public servants, regulators, industry peers and stakeholder communities I have worked with over the journey.

“They have always been receptive to our advocacy, policy and regulatory initiatives and solutions, understanding that the SMSF sector plays a critical role in helping Australians have a secure and dignified retirement as well as an important part in our national prosperity.”

This article was originally sourced from SMSF. 

Following closely in the wake of the ADA's advocacy win on CDBS, which saw the cap restored to $1000, the Association has now succeeded in widening the scope of the newly-announced National Rural Health Commissioner to include both dental health and dental workforce.

Established as part of Government reforms to regional and rural health in Australia, this newly-created position is intended to act as an independent, high-profile advocate for health issues in remote, rural and regional areas.

When it emerged that the National Rural Health Commissioner's position would cover nursing, indigenous health, mental health, midwifery and allied health need, but not dentistry, the ADA moved quickly to ensure that the important role dental health plays in the maintenance of overall good health would be acknowledged on this list.

In addition, the issue of dental workforce was also given due consideration, a critical inclusion given the difficulties in attracting and retaining dental staff in rural and remote areas.

At the Rural Stakeholder Roundtable meeting with the Assistant Health Minister, Dr David Gillespie, the ADA's representative Deputy CEO Eithne Irving made the case for dentistry to fall into the purview of the new Commissioner, an argument which was accepted and saw the scope of the position's responsibilities expanded to include the full scope of health issues in these areas.

This article was originally sourced from ADA.

The Chairman of the Australian Bankers’ Association, Andrew Thorburn, today announced the appointment of Anna Bligh to lead the ABA as it continues its work to strengthen trust and confidence in banking and deliver better outcomes for customers.

“We are excited to appoint Anna as Chief Executive Officer at such a pivotal time for our industry,” Mr Thorburn said.

“Anna’s focus will firmly be on the culture within banking and lifting respect for our profession; creating a strong vision for customers and on how our industry responds and leads on regulatory reform.

“As I’ve met with Anna I’ve seen the leadership, values and accountability she will bring to the role – and a willingness to confront and challenge the industry to continually improve.

“Anna has a track record of community service and a strong ability to connect with people. She is highly regarded and respected by community, political and business leaders and understands the need for all stakeholders to work together to deliver the best outcome for customers.”

Mr Thorburn added: “Australia has a world-class banking system and there is more we can do to be better for customers and demonstrate the role banks play for them, the broader community and the Australian economy.

“We have also heard the message from customers and from the public, and the industry is serious about change. The appointment of Anna demonstrates our commitment to this.”

Ms Bligh has more than 30 years’ experience in public service, initially with community organisations, before entering the Queensland Parliament in 1995. She held ministerial responsibilities for a number of portfolios including Education and Finance, and served as Treasurer and Deputy Premier before becoming Premier from 2007-2012.

She holds Honorary Doctorates from the University of Queensland and Griffith University and the National Emergency Services Medal for her service during the Queensland floods in 2011. Ms Bligh was awarded a Companion of the Order of Australia (AC) in the Australia Day honours in 2017.

Ms Bligh is currently the Chief Executive Officer at YWCA New South Wales, a role she has held for the past three years. During that time she has worked with vulnerable and financially disadvantaged Australians.

Ms Bligh said: “Our banks are critical to the strength and stability of our national economy and the prosperity and well-being of every Australian. We all rely on our bank for the most important financial decisions of our lives, so we want a system that is open, fair and trustworthy.

“I am excited by this opportunity to lead and shape the reforms needed to strengthen public trust and confidence in our banking system.”

Ms Bligh, who becomes the ABA’s first female CEO, will commence in the role on 3 April. She replaces Steven Münchenberg, who announced in October last year that he was stepping down after almost seven years as CEO.

Mr Münchenberg will finish with the ABA on 14 April, to enable a transition to Ms Bligh.

“On behalf of the membership and Council of the ABA, I want to thank Steven for his commitment and strong leadership as the industry navigated through a rapidly changing political, regulatory and economic environment following the global financial crisis,” Mr Thorburn said.

“Steven is a total professional who has worked tirelessly during what have been challenging times for our industry. We have a stronger foundation to build on thanks to Steven and his team.”

This article was originally sourced from Australian Bankers Association.