Board
The Board has a Board Charter which sets out its powers and responsibilities.
Here is a summary of the Board Charter.
The Trustee Board is made up of nine Directors which are employer and member nominated representatives in equal numbers and one Independent Director.
Four member Directors are appointed by the Mining and Energy Union (MEU). Three of these are nominated for appointment by the MEU and the fourth is nominated for appointment by other unions on a rotational basis representing members in the NSW, QLD and Tasmanian coal mining industry, including the Association of Professional Engineers, Scientists and Managers Australia (APESMA), Communications Electrical Plumbing Union (CEPU (or ETU)) and Australian Manufacturing Workers Union (AMWU).
Four employer Directors, with two nominated and appointed by the NSW Minerals Council (NSWMC) and two by the Queensland Resources Council (QRC).
One Director is an Independent Director nominated and appointed by the Trustee Board.
Directors
| Member nominee representatives | Employer nominee representatives | Independent |
|---|---|---|
| Grahame Kelly - appointed by MEU | Judith Bertram - appointed by QRC | Deirdre Wroth - appointed by Trustee Board |
| Mark Watson - appointed by MEU | Robert Dougall - appointed by NSWMC | |
| Anthony (Tony) Maher - appointed by MEU | Christina Langby - appointed by NSWMC | |
| Paul Bastian – nominated by AMWU and appointed by MEU | Glenn Buckner - appointed by QRC |
Board Committees
The Trustee has established Committees to advise it and make decisions about important issues affecting your super. The Committees, comprised of Trustee Directors, meet a number of times each year and include:
| Investment Committee | Makes decisions on how your super is invested, including which investment managers and investment sectors to invest in. Sets investment policy, objectives and strategies and monitors investment performance. Here is a summary of the Investment Committee’s Terms of Reference. |
| Insurance Committee | Reviews insurance claims, including disputed and complex claims. Makes decisions on the payment of some claims. Reviews the insurance policy arrangements and oversees the Insurance Management Framework. Here is a summary of the Insurance Committee’s Terms of Reference. |
| Audit, Risk and Compliance Committee | Makes sure Mine Super follows the government’s laws, rules and regulations and company policies and requirements. Monitors risk management, compliance, audit, fraud and whistleblowing frameworks and other governance activities. Here is a summary of the ARCC's Terms of Reference. |
| Remuneration and Nominations Committee | Makes sure staff and Directors’ salaries are ‘fair and reasonable’, that remuneration practices meet regulatory requirements and that appropriate nominations functions are undertaken in relation to Director and nominated Executive appointments. Here is a summary of the RAN Committee's Terms of Reference. |
| Merger and Acquisitions Committee | Evaluates and presents recommendations to the Board in relation to Merger Opportunities. Here is a summary of the M&A Committee’s Terms of Reference. |
Board and Committee meeting cycles
| Name | Frequency (approx.) | Number of meetings per year |
|---|---|---|
| Trustee Board | Bi-monthly | 6 |
| Audit, Risk and Compliance Committee | Quarterly | 4 |
| Insurance Committee | Quarterly | 4 |
| Investment Committee | Bi-monthly | 6 |
| Remuneration and Nominations Committee | Annually (minimum) | Minimum of 1 |
| Mergers and Acquisitions Committee | Quarterly | 4 |