About the Committee:
The Insurance and Investment Committee ("Committee") is established by the Commissioner of the Victorian Building Authority, trading as the Building and Plumbing Commission ("Commissioner") to monitor and advise on the performance and management of the Domestic Builder's Insurance Product ("product") and the investment of the assets backing it at the Victorian Building Authority, trading as the Building and Plumbing Commission (BPC).
The Committee will make recommendations on how:
(a) The product best meets the requirements of the relevant legislation;
(b) The product is managed sustainably; and
(c) investments are managed to ensure optimal returns considering the appropriate levels of investment risk, and compliance with DTF guidelines and Ministerial Directions
About the Role:
The Building & Plumbing Commission (BPC) requires a suitably qualified and experienced person to become an independent member and/or chair of the Insurance and Investment Committee (Committee). The Committee is established by the Commissioner of the Building and Plumbing Commission ("Commissioner") to oversee the Domestic Builder's Insurance Product ("Product") and the investment of the assets backing it.
The Committee monitors the Product to ensure that it complies with the requirements of the relevant legislation and is managed sustainably, and that the investments are managed to ensure optimal returns considering the appropriate levels of investment risk, and compliance with DTF guidelines and Ministerial Directions.
Who we are looking for
Applicants will be short-listed on the basis of qualifications, skills and experience in relation to the criteria outlined below.
Key Selection Criteria - Independent Member
- Experience in independently reviewing and assessing the effectiveness of systems and controls for one or more of the following:
- Finance and Investments
- Actuarial Science
- Domestic Construction Industry
- Customer Advocacy
- Risk Management
- Knowledge of Domestic Builder's Insurance Product and understanding of the investments of the assets backing the product.
- Experience ensuring investments are managed to ensure optimal returns considering the appropriate levels of investment risk, and compliance with DTF guidelines and Ministerial Directions.
- Experience in providing financial & investment oversight such as selecting, monitoring, and replacing actuaries, investment managers, custodians, and advisors, reviewing asset allocation guidelines and implementation.
- Ability to review actuarial valuations and identifying insurance and investment risks.
- Experience in providing input into the determination of insurance premium levels and implementing adjustments.
- Assessing insurance claims and investment performance.
- Ability to uphold ethical and fiduciary standards in a government organisation.
- Reporting to the Commissioner on performance, compliance, and industry trends.
Key Selection Criteria - Independent Member and Chair
- All of the above responsibilities and as Chair, you will have additional responsibilities, including:
- Establishing a constructive working relationship with the BPC Commissioner and the BPC Audit and Risk Committee chair to ensure appropriate exchange of information and delivery of responsibilities.
- Ensuring effective functioning of the Committee, including managing meetings and maintaining focus on strategic and priority matters to ensure scope creep doesn't occur.
- Facilitating open and constructive communications and ensuring members are engaged and prepared.
- Setting meeting agendas in consultation with the nominated management representative(s).
- Maintaining effective communications with key stakeholders including (but not limited to) the BPC Commissioner, BPC Audit and Risk Committee chair, other independent committee members, and relevant government departments.
- Contributing to the self-assessment and evaluation processes with a view to ensuring continuous improvement outcomes for Committee
A full list of the additional responsibilities of the Chair are set out in the BPC Insurance and Investment Committee Chair and Independent Member position description
To Apply
Register your interest online only, we require you to upload:
- Please include a 2-page cover letter detailing why you are interested in the opportunity and highlighting the skills and experience relevant to the responsibilities of this position and the key selection criteria.
- Please include your preference to the position: Independent Member or Independent Member and Chair.
