The Board of the RBHS are considering the appointment of a director to the Board and are inviting expressions of interest from appropriately qualified and eligible persons.
Under the Constitution, the Board can appoint a person to be a director for a term not exceeding three years.
Persons wishing to be considered must provide a completed EOI to the Company Secretary CompanySecretary@myrbhs.com.au by 5pm Friday 7 June 2024.
The expression of interest submission should include a copy of your CV, completed skills matrix (also available on this page), and a covering letter highlighting how you consider you meet the required criteria and how you would add value to the Board of the RBHS.
Applicants who submit an expression of interest and are selected for further consideration will be invited to meet with the Board Chairperson, Mr Warren Wise and Nominations and Remuneration Committee (NRC) Chairperson Ms Emma Maley to discuss their skills and experience relevant to the skills required by the Board. These interviews will occur during June 2024.
This page contains all the information required if you are considering submitting an EOI:
Eligibility for an RBHS Director position
To be eligible for a director position:
- You must be over the age of 18.
- You must not be disqualified from acting in the role as a Director.
- You must not be the auditor of the RBHS or the partner, director, or employee of the auditor.
- You must have the time to commit to the role[1]; and
- You must meet the majority of the required qualifications and attributes outlined below.
General qualifications and attributes required of an RBHS Director
The private health insurance industry is highly regulated and complex, and this requires directors to have qualifications and/or experience that enables them to work within this environment. The industry’s regulatory agency, the Australian Prudential Regulation Authority (APRA) mandates governance, prudential and risk management standards and all directors must develop and maintain a sound understanding of these obligations.
To this end, the Board has established a set of criteria and skills to help ensure that directors of the company are able to carry out their responsibilities effectively.
The knowledge and skills required for the role include:
- Necessary competence, skills, knowledge, experience, and soundness of judgement to carry out responsibilities under the Corporations Act 2001, the Private Health Insurance Act 2007 and other relevant legislation.
- Sufficient understanding and/or experience in business financial management, enabling the Director to address issues and to be able to readily contribute to the interrogation of financial reports prepared by management and external advisors; and/or
- Skills and experience that will enable the director to assist in the setting of the strategic direction of the company in the context of a mutual, not-for-profit environment where member focus is the overriding requirement; and/or
- Skills and experience in the area of Risk Management, including overseeing management’s implementation of the Board approved risk management framework, and working with management to establish a robust risk culture within the organisation.
- A professional understanding of the role and function of a director acquired through direct board experience.
- Commitment to the principles of mutuality.
- Completed, or planning to undertake, the Company Directors Course through the Australian Institute of Company Directors (AICD); and
- Excellent communication skills where the director will quickly be able to address the issues and express opinions that will assist in the development of the RBHS.
For this EOI the Board are looking for specific skills and experience related to Information Technology including the management of cyber risk.
A person with experience in an APRA regulated environment or the health sector would be highly regarded.
The role of a RBHS Director is also a great opportunity for professional development.
Duties and responsibilities of an RBHS Director
- Set the company’s strategic direction and priorities.
- Regularly scan the external operating environment to ensure the organisation’s strategic direction remains both appropriate and viable.
- Monitor organisational performance and evaluate the achievement of strategic and business plans and annual budget outcomes.
- Establish the policy framework for governing the organisation from which all operational policies and actions are developed.
- Ensure the organisation has appropriate corporate governance structures in place including standards of ethical behaviour and promoting a culture of corporate and social responsibility.
- Ensure that the organisation's assets are protected via a suitable risk management strategy.
- Assess risks facing the organisation, establishing a risk management framework and risk appetite and tolerance levels, and monitoring compliance.
- Monitor CEO and organisational compliance with the relevant federal, state and local legislation and bylaws, accounting standards, and with the organisation's own policies.
- Be clear and understand the roles, responsibilities and reporting relationships of the board and professional staff.
- Provide advice and guidance to the CEO as required.
- Attend board meetings fully prepared (no less than 60% of meetings per year). Where attendance is not possible, directors will submit an apology. If absence is likely to extend for several consecutive meetings, directors will obtain leave of absence.
- Analyse and problem solve at a strategic level and contribute to effective decision making.
- Be independent in judgement and actions and to take reasonable steps to be satisfied as to the soundness of all decisions of the Board.
- At the request of the Chair, attend meetings or participate in discussions with relevant external parties. This can include, but is not limited to, auditors, regulators, expert advisors and consultants, and members.
- Participating in at least one Board Committee as agreed with the Chair and attend no less than 60% of Committee meetings.
- Attend or participate in at least one director-related education activity annually.
- Attend the Annual General Meeting.
Further Information
If you require further information regarding the expression of interest process or requirements, please contact the Company Secretary, Chris Stolk, by telephone on (02) 4224 4325 or email: CompanySecretary@myrbhs.com.au and he will address your enquiry in strict confidence.
[1] In 2024 the number of meetings is as follows: Board – 6, Strategy – 1, Audit Committee – 4, Risk Committee -4, and Nominations and Remuneration Committee – 2. Expectations are that each director would sit on at least one Committee of the Board.