Our corporate trustee board comprises nine director roles:

• three independent directors, one of whom serves as the board chair, are appointed by the board

• three employer directors are appointed by Commonwealth Bank as the fund’s employer sponsor

• three member directors are elected by eligible voting members on a rolling basis of one position each year

All directors generally serve three-year terms, to a maximum of four terms.

The trustee may also appoint non-directors to serve as members of its committees.

Our directors and non-director committee members bring a wealth of experience and diverse knowledge to help guide our fund. Read more about our directors, including executive remuneration, or the process for appointment of directors.

To help the trustee in carrying out its duties, our board has a number of committees, comprising directors and non-director committee members.

Each committee has a charter describing its purpose and responsibilities, as well as its level of authority and decision-making delegated by the board, and is supported by our executive management and secretariat teams.

The board has the following 5 committees:

• The Member Services and Claims Committee monitors and reviews the development and implementation of member-related strategies and policies, including member administration, insurance management framework, claims, complaints, and member communications.

• The Investment Committee reviews and develops investment-related activities and recommends appropriate investment strategy or other investment-related policy changes to the board.

• The Risk and Audit Committee assists the board in discharging its governance and monitoring responsibilities in relation to financial reporting, internal control structure, risk management, audit, and regulatory and compliance obligations.

• The Governance Committee assists the board in discharging its governance responsibilities and ensuring that the board and committees comprise individuals best able to discharge the responsibilities of directors or non-director committee members.

• The Remuneration Committee reports to the board on compliance with Commonwealth Bank’s Remuneration Policy and Framework on an annual basis. It also reviews remuneration recommendations and key performance indicators for all of the trustee’s responsible officers. The trustee has delegated this function to Commonwealth Bank’s Remuneration Committee.

Read more about the membership of each committee.

Our trustee board is supported by the executive management team who help oversee the fund’s operations, including:

• Supporting the board in formulating and implementing the fund’s business and strategic plans
• Overseeing member services
• Setting the fund’s overall investment strategy and managing and monitoring investment performance
• Developing member communication and education materials
• Implementing and monitoring the fund’s compliance, risk management and financial policies and procedures
• Liaising with superannuation regulators and other government and industry groups
• Managing relationships with service providers.

Read more about our executive management (including executive remuneration).