BOARD OF DIRECTORS
As a mutual organisation, members of Community CPS appoint the majority of directors on the Board.
There are currently eight directors and at least ten Board meetings are held each year. For more information about each director, click on their name below.
Chris Doogan, Chairman
Anne O'Donnell, Deputy ChairmanDebra Goodin, Director
Peter Gogarty, Director
To enable the Board to perform all of its functions, it is necessary to have a well structured Board. Under the Community CPS Constitution, all except one of the directors must be non-executives. Except for the two directors that can be appointed by the Board, all directors are required to be members of Community CPS.
In addition to Board duties, directors serve on Community CPS Board committees and on Boards of related entities. Information about each director is provided to members each year in the Annual Report.
The Role of the Community CPS Board
The first role of the Board of a mutual entity is to be custodians, on behalf of the members who appointed them, to ensure that Community CPS Australia’s operations, capabilities and financial value continue to be developed and are available to create value for present and future members. Secondly, the Corporations Act establishes that the Board is ultimately responsible for all matters relating to the running of Community CPS.
In general, the Board has the final responsibility for the successful operations of Community CPS. It is responsible for and has authority to determine all matters relating to the policies, practices, management and operations of Community CPS.
Specific Board Responsibilities
The Board is specifically responsible for Community CPS’:
Budgeting and Planning
The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the Australian financial services industry. Authorised Deposit-Taking Institutions (ADIs) are corporations which are authorised under the Banking Act 1959 . ADIs include banks, building societies and credit unions. All ADIs are subject to the same Prudential Standards. Under the Prudential Standards the ultimate responsibility for the sound and prudent management of Community CPS rests with the Board of directors.
Reporting to Members
Directors Duties specified in the Corporations Act
The directors of Community CPS, like all company directors in Australia are bound by duties specified in the Corporations Act. The duties fall into two broad groups:
1. The duties of loyalty and good faith
A Director must:
2. The duties of care, skill, and diligence
A Director must:
Fit and Proper Requirements
Community CPS, being an authorised deposit-taking institution (ADI) is subject to prudential standard APS 520: Fit and Proper Requirements. This Prudential Standard sets out the minimum requirements that Community CPS must apply in determining the fitness and propriety of individuals to hold responsible person positions. A director is defined as being a responsible person. Criteria to determine if a director or person to be appointed a director is fit and proper include:
In accordance with APS 520 Community CPS has implemented a Fit and Proper Policy. Community CPS takes all prudent steps to ensure that a person is not appointed to, or in the case of an existing responsible person, does not continue to hold, a responsible person position if they do not satisfy the requirements of the Fit and Proper Policy.
Other demands placed on Directors
In addition to their role on the Board, a Director of Community CPS is involved in a number of activities that include: