Nominations for Member Representative positions on the Board of Brighter Super are open

19 July 2022

Following the merger of LGIAsuper and Energy Super on 1 July 2021 to form Brighter Super, two Member Representative Director positions are open for nomination by appropriately qualified candidates for two-year terms commencing from 1 January 2023. 

The Nomination and Appointment Rules for the Board of Brighter Super are contained within the Trust Deed and the Fund’s Fit and Proper Policy, and an extract of the relevant rules is available at the link below.

Rules for nomination and appointment of directors

The Board of Brighter Super requires the candidates nominated for the Member Representative Director positions to have:

  • reasonable experience in the management or oversight of a superannuation fund with funds under management of $10 billion or greater; and
  • merger or acquisition experience, with such experience within the financial services sector to be highly regarded.

The Board requires the candidates nominated be able to demonstrate relevant, similar or transferable expertise in the following skill domain:

Skill category

Board coverage

Superannuation

  • Experience of the operations of the superannuation market
  • Superannuation’s legal environment and risk issues
  • Key obligations of the SIS Act, SIS Regulations, Prudential Standards, Corporations Law and trust law

The Board requires the candidates nominated be able to demonstrate relevant, similar or transferable expertise, at a substantial skill, knowledge and experience level, in at least one (preferably two) of the following skill domains:

Skill category

Board coverage

Financial advice

  • What is financial advice and the role of advice in superannuation
  • Brighter Super member experiences of information and advice

Actuarial

Delivering on Brighter Super’s Defined Benefit plans

Investments

  • Members’ best interests when setting investment objectives and strategy
  • Investment principles such as risk and return, diversification, liquidity, etc
  • The characteristics of the major asset classes
  • The process for formulating investment beliefs, investment objectives and strategy
  • Brighter Super’s Investment Governance Framework
  • Investment implementation and risk management including legal, tax, fees, governance and investment structures
  • Economic factors and the impact on investment market

Technology

  • Impact of Technology on the Member experience and engagement
  • Importance of Information Security and Data Governance

For each of the two following groups, one representative must be nominated and, where there is more than one eligible candidate nominated from that group, elected.

  • One Member Representative Director will be from the member group holding an Energy Super branded product.
  • One Member Representative Director will be from the member group holding a now branded Brighter Super product.

Members who hold an Energy Super branded product may nominate and vote for the Energy Super Member Representative Director position and those who hold a Brighter Super branded product may nominate and vote for the LGIAsuper (now Brighter Super) Member Representative Director position.

Nomination is open to those who are members at the time of calling for nominations, being 19 July 2022, who meet the competencies and experience set out in the Statement of Required Skills and Competencies.

Nominations are open until 5.00 pm on 30 August 2022.

If you wish to nominate for a position, please email companysecretary@brightersuper.com.au to request a director nomination kit, which will contain the nomination form, the declaration of fitness and propriety including your statement of meeting the required skills and competencies as well as governing documents and policies relevant to the role as Member Representative Director.

Please note that candidates will be required to demonstrate that they meet the skills assessment as well as an assessment of propriety, and may be asked to undertake an interview with the Company Secretary and Directors of the Brighter Super People and Culture Committee.

If multiple candidates apply who meet the competencies and experience as set out in the Statement of Required Skills and Competencies, the final list of candidates will be published on Brighter Super’s website together with candidate statements and put to vote by the respective member cohort. The candidate list will be published prior to 18 October 2022, with members of Brighter Super at 19 July 2022 being entitled to vote until ballots close at 5:00 pm on 18 November 2022.

The election will be overseen by an independent Returning Officer.