As a Customer Owned Bank we don’t have investor shareholders, our customers are our owners. This means that we exist to create, protect and return value to customers. This purpose distinguishes us from other investor-owned organisations that exist primarily to maximise financial returns to shareholders.

Your Board of Directors play an important role in overseeing the performance of Qudos Bank, ensuring our strength and security for our customers now and in the future.

We’d like you to meet the Board behind your bank so you can learn what they’re responsible for and how they guide the direction of the bank.

Watch the video below to hear more.

What do the Board do?

The Board of Directors has responsibility to Qudos Bank customers in guiding the Bank’s strategy and performance. The Board operates under a corporate governance framework, which is a written policy that outlines the roles, responsibilities and authorities of the Board members.

Strategic Direction

Acting on behalf of Qudos Bank customers, the Board sets the strategic direction in conjunction with the management team to ensure the bank is pursuing the sustainable creation, protection and return of value for current and future customers.

Management and Oversight

The Board manages how the performance is going to be monitored and evaluated. The Board has the final responsibility for the successful operations of the Bank. Directors are responsible for establishing and maintaining a sound risk management culture to protect customers and the bank.

What are the committees and what do they do?

 

  • Governance & Remuneration Committee - Facilitates the governance activities of the Board and provides an objective non-executive review of the Bank’s remuneration, including the CEO, CFO and Senior Executives.
  • Audit Committee - Provides an objective non-executive review of the effectiveness of the Bank’s financial reporting, internal controls, risk management framework and internal and external audit functions. 
  • Risk Committee - Provides an objective non-executive review, oversight and monitoring of the Bank’s risk Management policies and processes.
  • Nominations Committee - Applies the Bank’s Fit and Proper Policy to candidates for appointment to the Board; comprises 2 non-Bank Members and 1 Board representative.
  • Technology Commitee - Provides guidance to the Board in their consideration of technology strategy, resources and governance.

If you think you have the relevant experience and you’d like to join our Board please review the nominations pack which will be available on on our website in the coming weeks. The pack sets out the process and skill requirements to stand for election.