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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