Board Committees

To help it carry out its responsibilities, the Board has established the following Committees and adopted terms of reference setting out the matters relevant to the composition, responsibilities and administration of these Committees:

  • Finance, Risk and Audit Committee;
  • Remuneration and Nominations Committee;
  • Technology Operations Committee; and
  • Rebate Committee.

Finance, Risk and Audit Committee

The Finance, Risk and Audit Committee assists the Board by ensuring that the framework of internal controls, practices and systems of risk oversight and management are robust and that the Company’s financial statements and processes are externally audited. The Committee has members who have appropriate financial experience and the Committee reports and makes recommendations to the Board on the following matters:

  1. That eftpos’ accounts fairly represent eftpos’ financial position and performance and comply with all regulatory requirements;
  2. The appointment of external auditors, receipt of audit reports and liaising with the auditors on:
    • Internal financial practices;
    • The scope of audits;
    • Matters arising from audits; and
    • Any other matter relevant to its responsibilities.
  3. Monitoring eftpos’:
    • internal financial controls; and
    • exposure to financial and internal operational risk and ensuring they are kept within acceptable limits.

Members of the Finance, Risk and Audit Committee are:

  • Brett Chenoweth (Chairman);
  • Ms Nikala Busse;
  • Ms Leslie Martin;
  • Ms Vickki McFadden;
  • Mr Stuart Woodward.

Remuneration and Nominations Committee

The Remuneration and Nominations Committee has responsibilities for the following matters

  • Reviewing and recommending the remuneration framework for Independent Directors;
  • Reviewing and recommending the CEO’s remuneration, including merit recognition;
  • Reviewing and recommending the remuneration packages of executive team members;
  • Reviewing and recommending all merit recognition expenditure for executive team members;
  • Advising on recruitment, retention, succession planning and termination policies and procedures for executive team members;
  • Reviewing and advising the Board on Director induction and the composition of the Board and its Committees;
  • Evaluating the annual performance of the Company Secretary;
  • Evaluating the annual performance of the Board and CEO and individual Directors (this takes the form of recommending to the Chair the process to monitor, evaluate and improve Board and Committee performance); and
  • Assessing the skills, knowledge and experience required by the Board to inform Director development plans and the nominations process.

The members of the Remuneration and Nominations Committee are:

  • Ms Leslie Martin (Chairman);
  • Mr Stephen Benton;
  • Ms Vickki McFadden (ex-officio);
  • Mr Vinay Rao; and
  • Mr Derek Weatherley.

Technology Operations Committee

The Technical Operations Committee has responsibilities for approving and overseeing the implementation of eftpos’ information technology and processing strategy and services.

The members of the Technical Operations Committee are:

  • Ms Nikala Busse (Chairman);
  • Mr John Collins;
  • Ms Leslie Martin;
  • Mr Vinay Rao; and
  • Ms Simone Van Veen.

Rebate Committee

The Rebate Committee has responsibilities for authorisation to distribute rebate payments following the Finance, Risk and Audit Committee’s approval of an available pool.

The members of the Rebate Committee are:

  • Ms Vickki McFadden (Chairman);
  • Mr Brett Chenoweth;
  • Mr Bruce Mansfield; and
  • Ms Leslie Martin.