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SurfLifeSavingNewSouthWales3NarabangWayBelrose|POBox307BelroseNSW2085AustraliaT+61294718000F+61294718001Einfo@surflifesaving.com.auFundraisingAuthorityNo.CFN11033ABN:93827748379www.surflifesaving.com.au
Memorandum
To:AllSLSNSWClubsandMembers
From:SLSNSWCEOStevenPearceAFSM
Date:Friday7June2019
Pages:3
Subject:SLSNSWisseekingexpressionsofinterest(EOI)frommembersfortheSurfLifeSavingNSWInvestmentAdvisoryCommittee(IAC)MembershipBackgroundSLSNSWhasvariouscashholdingscurrentlyinvestedinshortandlongtermbankingdepositsinaccordancewiththeSLSNSWInvestmentPolicy.Theorganizationalsohassomepropertyholdings,whichmakeupthetotalinvestmentportfolio.DevelopmentoftheSLSNSWinvestmentstrategyhasnowreachedapointwhereadedicatedadvisorycommitteeofresponsibilitytotheFinanceAudit&ComplianceCommittee(FACC),isnowrequiredtoadvisetheboardandaugmentinvestmentgovernance.Thiswillbothreducetheriskofpolicyandstrategylaggingbusinessneedsandenhanceinvestmentreturnsutilisedtosupportbusinessoperations.TheinvestmentportfolioofSLSNSWisconsideredrelativelysimpleincommercialterms,andwhilstrequiringappropriategovernance,doesnotwarrantsubstantialexpenditureonadviceandreportingatthisstageinitsdevelopment.Itdoeshoweverrequireastutefinancialstewardshipandoversightfromskilledinvestmentpractitioners.Researchshowsthatassetallocationanddiversificationwithinselectedassetallocationsareprimarydriversofmedium-longterminvestmentreturns.Forthisreason,theBoardofSurfLifeSavingNewSouthWaleshasapprovedthecreationofanInvestmentAdvisoryCommitteetomaximizeourinvestmentreturns.ExpressionsofInterestSurfLifeSavingNewSouthWalesseeksexpressionsofinterestfrommembersinterestedinjoiningtheSurfLifeSavingNewSouthWalesInvestmentAdvisoryCommittee(advisorysubcommitteeoftheSLSNSWBoard).Itisenvisagedthecommitteewillmeetapproximately2timesperyeartoprovidefeedbacktotheBoardIdeallyapplicantswillhavesubstantialfinancialandinvestmentmanagementexperience.TheaimofthecommitteewillbetoprovidefeedbacktotheSLSNSWBoardandFACContheperformanceandmakeupoftheorganization’sinvestmentportfolio,andtosuggestwaysperformancecanbeimprovedwithinSurfLifeSavingNewSouthWalesriskparametersInterestedmembersshouldsubmita1-pageapplicationtotheChiefExecutiveOfficeroutliningyourexperienceandskillyouwouldbringtothisCommittee.AllexpressionsofinterestaretobeforwardedtoStevenPearceviapa@surflifesaving.com.auandmustbesubmittedbyclosingdateThursday,25thJuly2019.FeelfreetocontacttheCEOifyouwishtodiscussthisopportunityfurther.Yourssincerely,StevenPearceAFSMChiefExecutiveOfficer
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,ModificationorVariationThisTermsofReferencemaybeamended,modifiedorvariedinwritingafterconsultationandagreementbytheIACmembers.ApprovalStevenPearceAFSMChiefExecutiveOfficerSLSNSW