BankVic Annual Report 2019

Audit Committee
Chair Adrian J. White until 28 November 2018; Michael Liu
from 28 November 2018.
Members Debra L. Robertson until 28 November 2018,
Lucinda J. Nolan from 28 November 2018; Steven J. Coulson
from 25 November 2014.
The principal responsibilities of the Audit Committee are to:
• oversee and appraise the quality of the audits conducted
by the Company’s external auditor and internal auditor;
• maintain by scheduling regular meetings, open lines of
communication among the directors, the internal auditor
and the external auditor to exchange views
and information;
• serve as an objective party to review the financial
information presented to members and regulators;
• determine the adequacy of the company’s administrative,
operating and internal controls; and
• review annually internal audit and other policies
as required.
Risk Committee
Chair David R. Boell until 23 November 2018; Debra
Robertson from 28 November 2018.
Members Lucinda J. Nolan from 28 March 2018 until 28
November 2018; Michael Liu from 28 November 2018;
Faith Page from 28 November 2018; Adrian White until 28
November 2018; Marianne Luttick until 28 November 2018.
The principal responsibilities of the Risk Committee are to:
• maintain the risk appetite statement as defined by the
Board;
• approve the risk management strategy;
• overview the major policies relevant to the risk
management framework; and
• monitor and review all material key risk areas across all
key financial and non-financial risk: including credit risk,
market risk, liquidity risk, operational risk (including digital
and cyber risks), strategic risk, compliance risk, reputational
risk and other risk, including risks associated with conduct,
culture and other non-financial factors.
18 | BANKVIC // ANNUAL REPORT 2019