AddressFederation Council is seeking expressions of interest for the appointment of two (2) Independent Membersfor the Audit Risk and Improvement Committee (ARIC).
ARIC assists in promoting good governance practices within the organisation by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of enterprise Risk Management, control and governance processes.
ARIC meets five (5) times per calendar year in Corowa, NSW. Teleconferencing facilities are available if members are unable to attend in person. Committee members receive remuneration per meeting (for preparation time and attendance).
Both appointments are for an initial term of four (4) years, commencing October 2024.
Independence Requirements:
Independent members must not:
- Currently be a councillor of any NSW council.
- Be a non-voting representative of the board of the joint organisation.
- Be a candidate at the last election of the council.
- Be a person who has held office in Federation Council during its previous term.
- Be currently employed by Federation Council or joint organisation, or been employed during the last 12 months.
- Conduct audits of Federation Council on behalf of the Audit Office of NSW.
- Have a close personal or business relationship with a councillor or a person who has a senior role in Federation Council that may lead to a real or perceived conflict of interest.
- Currently, or within the last three years, provided any material goods or services (including consultancy, legal, internal audit and advisory services) to Federation Council which directly affect subjects or issues considered by the Audit Risk and Improvement Committee.
- Be (or have a close family member who is) a substantial shareholder, owner, officer or employee of a company that has a material business, contractual relationship, direct financial interest or material indirect financial interest with Federation Council or a related entity which could be considered a real or perceived conflict of interest.
- Currently or have previously acted as an advocate of a material interest on behalf of Federation Council or a related entity which could be considered a real or perceived conflict of interest.
Essential Criteria:
Independent members must demonstrate the following:
- An ability to read and understand financial statements and a capacity to understand the ethical requirements of government (including potential conflicts of interest).
- Functional knowledge in areas such as Risk Management, performance management, human resources management, internal and external auditing, financial reporting, accounting, management control frameworks, internal financial controls, governance (including planning, reporting and oversight), or business operations.
- A capacity to form independent judgements and willingness to constructively challenge/question management practices and information.
- A professional, ethical approach to the exercise of their duties and the capacity to devote the necessary time and effort to the responsibilities of an Independent Member of an audit, risk and improvement committee.
- Preparedness to undertake any training on the operation of audit, risk and improvement committee recommended by the chair based on their assessment of the skills, knowledge and experience of the Independent Member.
Ideally, Independent Members should also meet the following criteria, but these are not essential:
- Extensive senior level experience in governance and management of complex organisations.
- Possession of a relevant professional qualification or membership (e.g., Institute of Internal Auditors (IIA), CPA Australia (CPA) and Chartered Accountants Australia and New Zealand (CA)).
Note: ARIC members must not be undischarged bankrupts or have been charged with or convicted of a serious criminal offence.
How to Apply:
- Review the Information pack for Independent Member Applicants - Audit Risk and Improvement Committee available from the Federation Council website https://www.federationcouncil.nsw.gov.au/News-Media/Positions-Vacant-Independent-Audit-Risk-and-Improvement-Committee.
2. Submit:
- A covering letter, detailing how you meet the independence requirements and essential criteria.
- A CV (including two referees, contactable by phone).
- Any other supporting documents considered relevant.
Applications to be marked: Confidential – Expression of Interest: Independent Member of the Audit Risk and Improvement Committee.
Submissions:
Email to: **********@federationcouncil.nsw.gov.au
or
Via post and addressed to the:
General Manager
Federation Council
PO Box 77 NSW 2646
Closing Date: Close of Business on Thursday 4 July 2024
Contact Person: Martine Hall on 02 6033 8*** or **********@federationcouncil.nsw.gov.au
