Conduct & ethics, risk management and general meetings

Conduct and ethics

The Board has adopted a Code of Conduct that details the conduct and behaviour it expects from its workers in the performance of their duties. All workers are expected to perform their duties with professionalism, efficiency, fairness, impartiality, honesty and sensitivity.

Risk management

The Company has a Risk Management Plan to assist in achieving its risk management objectives – to ensure protection against financial loss, to ensure legal and regulatory obligations are satisfied and that business opportunities and risks are identified and properly managed and appropriately monitored by the Board. However, the Board recognises that no cost-effective internal control framework will preclude all errors and irregularities.

The Senior Management Team assists the Board in ensuring compliance with internal controls and risk management plans by regularly reviewing the effectiveness of the compliance and control systems and by regularly reporting to the Board.

General meetings

The Board encourages full participation of Members at general meetings to ensure high level of accountability and identification with the Company’s strategy and goals. Important issues are presented to the Members as single resolutions. Proxy forms are issued to all eligible Members with the notice of general meetings.

Members are required to vote on the Annual Funding figure for the Company, the aggregate remuneration of Directors and changes to the Company’s Constitution. Copies of the Constitution are available to any member who requests it from the Company Secretary and on the Company’s website

Other means of communication with Members include:

  • The Annual Report, which is available to all Members and on the Company’s website;
  • The Financial Report which is posted to all Members; and
  • Stakeholder meetings with the Ombudsman and regular meetings with the operational staff at the operational levels.

Feedback from Members is also regularly sought through various surveys and informal feedback opportunities.