Woollahra Municipal Council

Expression of Interest Audit, Risk & Improvement Committee (ARIC)

• Independent Chair $2,000 per meeting (excluding Super and GST)
• Independent Member $1,500 per meeting (excluding Super and GST)
• Part time

Background

Woollahra Council is committed to open and transparent governance that satisfies community expectations and best practice standards. 

As part of the overall governance framework, Council’s Audit, Risk & Improvement Committee (ARIC) plays an important role in strengthening risk management and corporate governance practices within Council. This is in line with the current Office of Local Government (OLG) guidelines on Audit, Risk & Improvement Committees.

Through this Expression of Interest (EOI) process, Council is seeking to appoint persons with appropriate skills for the role of an Independent Chair and Independent Member of the Audit, Risk and Improvement Committee. 

Audit, Risk and Improvement Committee (ARIC)

The objective of Council’s ARIC is to enhance the Council’s existing governance framework, risk management practices, control, strategy and performance environment, by providing independent assurance, oversight and assistance to the Council on key aspects of its operations.

ARIC’s role is to review aspects of Council’s operation and provide advice and guidance to Council for the purpose of improving the performance of its functions.

The approach the Committee adopts, in its interaction with senior management, will have a direct bearing on the effectiveness of the Committee. It is the responsibility of the Committee to promote a positive culture of continuous improvement to ensure its effectiveness.

The membership of the Audit, Risk and Improvement Committee is currently comprised of three independent members (including one who is the Chair) and Councillor representation.

Council will generally seek to ensure a rotational expiry of terms for Committee members.

Eligibility and Selection Criteria for the Chair

The following are the essential and desirable criteria that will be relied upon for the selection of the successful Chair:

Essential:

a) Leadership qualities and the ability to promote effective working relationships in complex organisations;

b) An ability to communicate complex and sensitive assessments in a tactful manner to the council’s internal audit coordinator, senior management and the mayor and councillors;

c) A sound understanding of:

i. the principles of good organisational governance and capacity to understand local government accountability, including financial reporting;

ii. the business of the council or the environment in which it operates;

iii. internal audit operations, including selection and review of the council’s internal audit coordinator; and

iv. of risk management principles.

d) Extensive senior level experience in governance and management of complex organisations, an ability to read and understand financial statements and a capacity to understand the ethical requirements of government (including potential conflicts of interest);

e) Functional knowledge in areas such as risk management, performance management, human resources management, internal and external auditing, financial reporting, accounting, management control frameworks, internal financial controls, governance (including planning, reporting and oversight), or business operations;

f) A capacity to form independent judgements and a willingness to constructively challenge/question management practices and information; and

g) A professional, ethical approach to the exercise of their duties and the capacity to devote the necessary time and effort to the responsibilities of the chairperson of an audit, risk and improvement committee.

Desirable:

a) Possession of a relevant professional qualification or membership (e.g., Institute of Internal Auditors (IIA), CPA Australia (CPA) and Chartered Accountants Australia and New Zealand (CA).

Eligibility and Selection Criteria for the Members

The following are the essential and desirable criteria that will be relied upon for the selection of the successful Members:

Essential:

a) An ability to read and understand financial statements and a capacity to understand the ethical requirements of government (including potential conflicts of interest);

b) Functional knowledge in areas such as risk management, performance management, human resources management, internal and external auditing, financial reporting, accounting, management control frameworks, internal financial controls, governance (including planning, reporting and oversight), or business operations;

c) A capacity to form independent judgements and willingness to constructively challenge/question management practices and information;

d) A professional, ethical approach to the exercise of their duties and the capacity to devote the necessary time and effort to the responsibilities of an independent member of an audit, risk and improvement committee; and

e) Preparedness to undertake any training on the operation of audit, risk and improvement committees recommended by the chairperson based on their assessment of the skills, knowledge and experience of the independent member.

Desirable:

a) Extensive senior level experience in governance and management of complex organisations; and

b) Possession of a relevant professional qualification or membership (e.g., Institute of Internal Auditors (IIA), CPA Australia (CPA) and Chartered Accountants Australia and New Zealand (CA)).

Appointment of Committee Members

Council will appoint ARIC members following an Expression of Interest and interview process. Terms of appointment will be in accordance with the Committee Charter.

Role and Responsibilities

The key role of the ARIC is to provide independent assurance, an oversight function and assistance to the General Manager and governing body of Council in the following areas:

• Compliance
• Risk Management
• Fraud control
• Governance
• Financial management
• Service reviews
• Policy development and review
• Collection of Performance Measurement data by council
• Any other matters prescribed by legislation
• Provide information to Council for the purpose of improving council’s performance of its functions
• Administrative and attendance duties associated with running the Committee

Duties of Members

The duties of the members will be in accordance with the Charter of the Audit, Risk and Improvement Committee, and include:

• Attend and actively participate in meetings of the Audit, Risk and Improvement Committee. This will include working collaboratively with other members in achieving the aims of the Committee;
• Understand the relevant legislative and regulatory requirements appropriate to local government;
• Contribute the time needed to review and understand the papers provided and suggest ideas relevant to items on the meeting agenda;
• Provide well considered advice and recommendations to Council, based on objective analysis of facts that are relevant to the agenda items being considered;
• Action and follow up tasks established by the Committee.

Committee Meetings

It is proposed that the Committee will meet on a quarterly basis, with one of these meetings to include review and endorsement of the annual audited financial reports and external audit opinion. In total, there are 4 meetings in a year and an informal meeting to review the Financial Statements.

A typical meeting will run for up to 3 hours and preparation will involve review and critical analysis of papers.

The Chairperson may convene meetings as required and in accordance with the Audit, Risk and Improvement Committee Charter.

Currently, Council’s ARIC meetings are generally held face-to-face at Council’s office at 536 New South Head Road Double Bay.

Obligations/Constraints

Committee members are required to comply with the following requirements:

• Council’s Code of Conduct;
• ARIC Charter;
• Maintaining confidentiality in relation to all discussions and information obtained during or as a result of meetings;
• Ensuring all conflicts of interest are declared and recorded in Meeting Minutes and, if necessary, appropriate action taken if a conflict is declared.

Remuneration

Council nominated remuneration for an Independent Member of the Audit, Risk and Improvement Committee is $1,500 per meeting (excluding GST) and for the Chair it is $2,000 per meeting (excluding GST). This rate is inclusive of time spent on preparation for the meeting and travel.

Induction and training

At the beginning of the Audit, Risk and Improvement Committee term, all Committee members will participate in an induction and training session face-to-face, or via video conference or e-learning. Where any further external training is deemed necessary, these costs will be paid by Council.

Pre-Screening Checks

As part of this recruitment process you will be required to participate in pre-engagement screening which may include but not be limited to the following: National Criminal Background Check, Reference Checking & COVID-19 Vaccination immunisation requirement.

Independent Member Information Package

Please read the Information Pack provided in the hyperlink below and Charter to familiarise yourself with all the requirements and conditions of the role.

EOI Submission

Council invites interested members from the community to submit an Expression of Interest to Council by 10am Monday 13 May 2024. Interested parties should complete the online ARIC EOI application form and attach supporting documents addressing the selection criteria as stated above and as advertised.

Please click the 'Apply for this Position' button below and submit the following:

1. A cover letter of up to 2 pages,
2. A CV of up to 6 pages, including contact details for at least 2 referees (must not be Woollahra Council Officers, Councillors or other ARIC members).

All enquiries or requests for information should be directed to the Governance & Risk Manager: records@woollahra.nsw.gov.au or (02) 9391 7960.