Statewide is committed to the highest levels of corporate governance.
Our Board of Directors:
- Set the strategic direction for the Group with the key focus being on our members.
- Maintain a high standard of ethical behavior, transparency and accountability.
- Monitor economic, business and operational risk. The Statewide Risk Management Strategy provides further detail on our approach to managing organisational risk. A copy of Statewide's Risk Management Strategy is available to members free of charge upon request.
- Fully assess investments in which your savings are placed and is guided by policies which govern the approach and principles upon which decisions are made.
- Regularly reviews the business and operational investment performance of the fund.
Board summary policies and disclosures
The Statewide Board has endorsed the following policies and disclosures in relation to the Fund.
|MySuper Product Dashboard||Click here to view|
The latest Statewide Trust Deed
The latest Statewide Constitution
|Statewide Board Charter includes rules relating to the nomination, appointment and removal of directors||Click here to view|
The most recent actuarial review for each defined benefit sub-fund
|Directors attendances at Board meetings for the last 7 years||Click here to view|
|A register of relevant interests and duties||Click here to view|
|Statewide's latest Product Disclosure Statements (PDS) and Financial Services Guide||Click here to view information|
|Statewide's Annual Report||Click here to view information|
|Annual Financial Statements for the RSE Licensee||Click here to view information|
|Information about each Statewide executive officer||Click here to view information|
Executive Officers and Individual Trustee Remuneration
|Statewide's proxy voting policies||Click here to view information|
|Summary of exercised proxy voting rights|
Summary of key policies
Gifts and Benefits Policy
Statewide presumes that the acceptance of gifts, benefits or favours (collectively referred to as ‘gifts’), where these may influence or be seen to influence decision making, is not acceptable. This is so regardless of who the prospective gift giver is. It does not matter who these offers of gifts are from but simply whether or not acceptance may influence or be seen to influence any decision making.
This does not mean that acceptance of gifts is always inappropriate. Gifts that are of a value of less than $300 that are not seen as conflicted are generally acceptable.
Gifts valued in excess of $300 must be declared and may be accepted and retained by the employee with the express approval of the Chief Executive (CE).
Employees may accept gifts under the value of $300, subject to the requirements of the Gifts and Benefits Policy. Under no circumstances should an employee accept any form of monetary gift.
All gifts received by an employee (this includes indirect gifts provided to partners/family members) from an external third party, with an estimated value of $300 or over, must be registered with the General Manager Governance, Risk and Compliance to detail on the Gift Register within five (5) business days of receipt of the gift.
Conflicts of Interest Policy
Statewide is committed to promoting a culture of prudent practice, sound management and ethical behaviour.
Statewide is fully cognisant of its duty to ensure that Statewide members are protected when an actual, apparent or potential conflict of interest arises between the duties of its directors or employees and any other commercial interest.
Accordingly, Statewide ensures that each business decision reflects independent judgment and discretion, uninfluenced by any consideration other than those believed to be in the best interests of its members.
Statewide’s preferred method of managing conflicts of interest is to avoid them entirely. Where avoiding a conflict of interest is not possible, however, the conflict is managed by a combination of internal controls and disclosure to ensure that any recommendation or decision within Statewide or the process leading to such a recommendation or decision is not compromised as a result of that conflict – and, ultimately, that the interests of our members are given priority.
These principles are expressed in Statewide’s Code of Conduct which requires our Directors and employees to:
In addition, there are the following mechanisms in place:
A Director or member of the executive team that is the subject of a potential Conflict of Interest is permitted to attend a meeting of the Board in order to provide information with respect to the conflict - but must otherwise excuse him or herself from the portion of the meeting during which any determination regarding the conflict is considered or made.
The Remuneration Policy sets out the remuneration objectives and the structure of remuneration arrangements of all Statewide employees, Directors and Committee members.
Each Director is entitled to such remuneration for his or her services. Director remuneration is set by the Board after consultation with an appropriately qualified and skilled independent expert. The Chairman of the Board is paid a fee which is twice the annual fee paid to other Directors. Additional fees are also paid to the chairmen of the Audit, Governance and Risk Management and the Investment Committees due to the advanced expertise required in these areas. Directors do not receive any remuneration in the form of performance based payments. Nor do they receive any equity or non cash remuneration. The Directors do not accrue service entitlements.
Directors will also be entitled to be reimbursed or have paid all reasonable expenses incurred in connection with the business and activities of the Statewide Group reimbursed as approved by the Chairman and Chief Executive Officer from time to time.
List of Material Outsourcing Providers