The Board establishes committees that it sees appropriate, to help carry out its responsibilities. Each committee has a charter that sets out its composition, responsibilities, and administration. While committees have specific membership, all Trustees may attend meetings. The current Board committees are:
The Investment Committee helps the Board with the oversight of the investment of Fund assets. The Committee’s principal duties and responsibilities include:
- recommending to the Board the investment objectives for the Fund and its various member investment choice (MIC) options
- recommending to the Board the investment policy for the Fund
- reviewing the adequacy of QSuper MIC options and their ability to meet member retirement needs
- recommending the investment delegations for QSL management
- monitoring investment performance, including the performance of external investment managers
- discussing investment issues with the Board and/or management (and independent parties, if and when the need arises)
Product, Services & Advice Committee
The Product, Services & Advice Committee's principal duties and responsibilities include overseeing:
- the Board's strategic focus on marketing initiatives across the Group, including the development and implementation of a comprehensive Group marketing strategy.
- the development and enhancement of the suite of products and services across the QSuper Group.
- members' experience (including service, advice, information and product) with the Group, to meet the diversity of QSuper member and employer needs.
- education and advice activities provided by the QSuper Group to both QSuper members and QInvest clients.
Audit and Risk Committee
The Audit and Risk Committee operates across the QSuper Group. It helps the Board discharge its corporate governance and oversight responsibilities in relation to the following:
- financial reporting
- internal controls
- risk management systems
- anti-money laundering
- licensing and other legal and regulatory issues
- Investment administration
- internal and external audit functions.
The Remuneration Committee helps the Board fulfil its responsibility of fiduciary oversight to members by making sure QSuper (and its related entities) have a clearly articulated and appropriate remuneration framework. This framework must fairly and responsibly reward individuals, taking into account performance, risk management, legislative requirements and the highest standards of governance.