Memo - APRA Licensing for music at surf clubs - Expressions of Interest...Surf Life Saving New South...

MemorandumTo:AllSLSNSWClubsandMembers

From:SLSNSWCEOStevenPearceAFSM

Date:Wednesday 4 September2019

Pages:3

Subject:SLSNSWisseekingexpressionsofinterest(EOI)frommembersfortheSurfLifeSavingNSWInvestmentAdvisoryCommittee(IAC)Membership

BackgroundSLSNSWhasvariouscashholdingscurrentlyinvestedinshortandlongtermbankingdepositsinaccordancewiththeSLSNSWInvestmentPolicy.Theorganizationalsohassomepropertyholdings,whichmakeupthetotalinvestmentportfolio.

DevelopmentoftheSLSNSWinvestmentstrategyhasnowreachedapointwhereadedicatedadvisorycommitteeofresponsibilitytotheFinanceAudit&ComplianceCommittee(FACC),isnowrequiredtoadvisetheboardandaugmentinvestmentgovernance.Thiswillbothreducetheriskofpolicyandstrategylaggingbusinessneedsandenhanceinvestmentreturnsutilisedtosupportbusinessoperations.

TheinvestmentportfolioofSLSNSWisconsideredrelativelysimpleincommercialterms,andwhilstrequiringappropriategovernance,doesnotwarrantsubstantialexpenditureonadviceandreportingatthisstageinitsdevelopment.Itdoeshoweverrequireastutefinancialstewardshipandoversightfromskilledinvestmentpractitioners.

Researchshowsthatassetallocationanddiversificationwithinselectedassetallocationsareprimarydriversofmedium-longterminvestmentreturns.Forthisreason,theBoardofSurfLifeSavingNewSouthWaleshasapprovedthecreationofanInvestmentAdvisoryCommitteetomaximizeourinvestmentreturns.

ExpressionsofInterestSurfLifeSavingNewSouthWalesseeksexpressionsofinterestfrommembersinterestedinjoiningtheSurfLifeSavingNewSouthWalesInvestmentAdvisoryCommittee(advisorysubcommitteeoftheSLSNSWBoard).

Itisenvisagedthecommitteewillmeetapproximately2timesperyeartoprovidefeedbacktotheBoardIdeallyapplicantswillhavesubstantialfinancialandinvestmentmanagementexperience.

TheaimofthecommitteewillbetoprovidefeedbacktotheSLSNSWBoardandFACContheperformanceandmakeupoftheorganization’sinvestmentportfolio,andtosuggestwaysperformancecanbeimprovedwithinSurfLifeSavingNewSouthWalesriskparameters

Interestedmembersshouldsubmita1-pageapplicationtotheChiefExecutiveOfficeroutliningyourexperienceandskillyouwouldbringtothisCommittee.AllexpressionsofinterestaretobeforwardedtoStevenPearceviapa@surflifesaving.com.auandmustbesubmittedbyclosingdateFriday,13thSeptember2019.FeelfreetocontacttheCEOifyouwishtodiscussthisopportunityfurther.

Yourssincerely,StevenPearceAFSMChiefExecutiveOfficer

SurfLifeSavingNewSouthWales3NarabangWayBelrose|POBox307BelroseNSW2085AustraliaT+61294718000F+61294718001Einfo@surflifesaving.com.auFundraisingAuthorityNo.CFN11033ABN:93827748379www.surflifesaving.com.au

SurfLifeSavingNewSouthWales3NarabangWayBelrose|POBox307BelroseNSW2085AustraliaT+61294718000F+61294718001Einfo@surflifesaving.com.auFundraisingAuthorityNo.CFN11033ABN:93827748379www.surflifesaving.com.au

SLSNSWInvestmentAdvisoryCommittee(IAC)TermsofReference(ToR)

TheTermsofReferencesetsouttheworkingarrangementsfortheSLSNSWInvestmentAdvisoryCommittee(IAC)andestablishesitspurpose,Chairandmembership,meetingschedulesandlevelofadministrativesupport.

Role/PurposeTheroleoftheSLSNSWInvestmentCommittee(IAC)willprovidestrategicadvicetotheSurfLifeSavingNSWBoardandFinanceAuditComplianceCommittee(FACC)ontheviability,opportunitiesandrisksassociatedwiththeSLSNSWinvestmentportfolio.

TheIACsetsouttoachieveandprovideadviceon;

a) ToprovidestrategicadvicetotheBoardofSurfLifeSavingNewSouthWalesontheorganization’sinvestments.b) ToreviewandprovideappropriatefeedbacktotheBoardontheorganization’sInvestmentGovernance

FrameworkinaccordancewiththeInvestmentPolicy.c) Tomakeinvestmentrecommendations/suggestionstotheBoardinaccordancewiththeInvestmentGovernance

Frameworkandmonitorinvestmentperformance.d) Tomonitortheperformanceoftheinvestmentportfolioandsuggestchangesintheportfoliotoincreasereturns

withintheconfinesofSurfLifeSavingNewSouthWalesriskprofile.

Toprovidesuggestionsonanominatedinvestmentmanagerasandifrequired,shouldtheBoardrequest,andreviewtheirperformanceannually.

TermThisToRiseffectivefrom1July2019andcontinuesuntilotherwiseadvised..

MembershipTheIACwillcomprise:

a) TwomembersofFinanceAudit&ComplianceCommittee,oneofwhomwillbeChairandoneDeputyChair.Threeappointedmemberswithsubstantialfinancialandinvestmentmanagementexpertise,appointedbyBoard.

b) TheChiefFinancialOfficer(CFO).

TheChiefExecutiveOfficerordelegatemayattendmeetingsoftheInvestmentCommitteewithrightsofaudienceanddebate.

RolesandResponsibilitiesTheIACisaccountablefor;

• Ensuringrigourandtruthtestingisappliedforalldecisions• Committingtoattendingallmeetings• Maintenanceofconfidentialityofdiscussionsanddocumentationsightedandobtained• Workingtogetherinacollaborativeandrespectfulmanner.

SurfLifeSavingNewSouthWales3NarabangWayBelrose|POBox307BelroseNSW2085AustraliaT+61294718000F+61294718001Einfo@surflifesaving.com.auFundraisingAuthorityNo.CFN11033ABN:93827748379www.surflifesaving.com.au

MeetingsAllmeetingswillbechairedbyadesignatedmemberoftheFinanceAudit&ComplianceCommitteeMeetingagendaandminuteswillbeprovidedbytheChair.Thiswillincludethepreparationofagendasandsupportingpapers.

MeetingswillbeheldquarterlyatSLSNSWHeadOffice,Belrose,NSWAmendment,ModificationorVariation

ThisTermsofReferencemaybeamended,modifiedorvariedinwritingafterconsultationandagreementbytheIACmembers.

Approval

StevenPearceAFSMChiefExecutiveOfficerSLSNSW