Group Committees

Supported by MDA National management, these committees are chaired by a Director of either the Mutual or Insurance Board, sharing the workload in specific areas of expertise and responsibility.

Audit Committee

The Audit Committee assists the Boards in fulfilling their fiduciary, corporate governance and regulatory responsibilities. This includes oversight of matters relating to financial statements; external and internal audits; and compliance with Prudential Regulations.

Audit Committee members:

  • Ms Anne O'Driscoll (Chair)
  • Dr Christine Pascott
  • Mr Steve Scudamore


Risk Committee
 

The Risk Committee assists the Boards with their regulatory and risk management oversight including oversight of risk management systems; risk profile and identified risks; monitoring the performance of the Chief Risk Officer; and reviewing compliance with relevant legislation and regulations.

Risk Committee members:

  • Ms Anne O'Driscoll (Chair)
  • Dr Christine Pascott
  • Mr Steve Scudamore


Capital Committee

The Capital Committee assists the Boards to:

  • ensure adequacy of capital and liquidity levels to prudently manage the Group’s business and to meet each entity’s financial and regulatory obligations
  • develop and monitor appropriate investment and capital management policies
  • evaluate strategies or opportunities which may impact on the Group’s capital requirements, capital structure or investment profile
  • provide oversight of management and advice to the Insurance Board on the use of reinsurance to ensure appropriate reinsurance arrangements are in place to support the business and meet all regulatory requirements.

 

Capital Committee members:

  • Mr Terry Agnew (Chair)
  • A/Prof Max Baumwol
  • Dr Rod Moore
  • Mr Steve Scudamore


Nominations and Remuneration Committee

The Nominations & Remuneration Committee recommends appointments to the Boards and Group and Board Committees, and also:

  • reviews the performance management policies and processes for directors and Group Committee members
  • addresses education, development and succession for the Boards and Group Committees and assists in ensuring compliance with related policies
  • oversees the policies and processes determining the remuneration for all directors (including Chairs) and Group Committee members.

 

Nomination and Remuneration Committee members:

  • Mr Steve Scudamore (Chair)
  • Mr Terry Agnew
  • Dr Andrew Miller
  • Dr Rod Moore