Audit & Risk Committee
The Audit & Risk Committee is a committee of the Board and functions as an independent reviewer, working with the Board and the stakeholders to provide an objective appraisal of the financial and operational activities of Nambawan Super Limited. The Committee provides the Board with information necessary for them to fulfill their responsibilities in making informed financial and operational decisions in the best interest of the Company and its members.
The Committee is comprised of Mr Lutz Heim as the chairman, Mr Reginald Monagi, Mrs Lesieli Taviri and Mrs Karen Gibson as committee members.
The Membership Committee helps the Trustee deal with member enquiries or complaints about the operation and management of the Fund. It provides a forum for Members to give their views and recommendations on the Fund’s activities and offerings. The Committee discusses and sets guidelines for benefits and advises the Trustee on Members’ information and communication needs.
During the year the Membership Committee discusses and makes determinations on a wide range of issues on behalf of Members, including timely recording of Members’ contributions, reducing the State contribution arrears, benefit payments, Nambawan Savings & Loans Society and Retirement Savings Account issues, Housing Advances, Member communications, group life insurance and proposed superannuation legislative amendments.
The composition of the Committee is key to its ability to represent Fund Members’ interests and give them a strong voice. As well as a Member of the Trustee Board, the Committee also includes representatives of a number of influential PNG unions and large private organisations.
The Committee is comprised of Directors of Nambawan Super Limited, with Mr Reginald Monagi as chairperson, Professor Albert Mellam and from union representatives, Ms Kila Avei, Mr Martin Karue and Mr Raymond Ray from the PNG Teachers’ Association, Mr Santee Lou Margis from the PNG Energy Workers Union, Mr Charles Ene from the Amalgamated General Workers Union, Mr Gena Gawa and Mr Mamata Dumo from the PNG Fire Fighters Union, Mr Lowa Tambua from the PNG Police Association, Mr Daniel Mollen and Ms Terryne Gilly from the Correctional Services Employees’ Association, Mr Fredrick Kebai from the PNG Nurses’ Association, Mr Robert Kutapai and Mr Isowa More from the Public Employees Association and Mrs Agnes Friday from the Department of Personnel Management.
The Investment Committee is a committee of the Board with the responsibility of ensuring that all investments of the Fund are made in consideration of all requirements of the BPNG and in the best interest of the members to optimise returns on risks evaluated placements.
The committee is comprised of Mr Alan Kam as chairman, Mr Anthony Smaré, Mr Reginald Monagi and Mr Lutz Heim as committee members.
Remuneration & Nomination Committee
The Remuneration and Nomination Committee has two key roles: to help the Board set appropriate, fair and responsible remuneration practices and to identify suitable candidates to fill vacancies on the Board, Standing Committees and from the Executive Management as they arise. The committee is comprised of Professor Albert Mellam as chairman, Lady Aivu Tauvasa, Professor David Kavanamur, Mr Alan Kam and Mrs Lesieli Taviri as committee members.
The Transformation Committee was recently established on 26 February 2018. The Committee’s role is to assist the Chief Executive Officer and Senior Management in the areas of Information Technology and Communication (ICT) and Strategy. The Committee is responsible for assessing, ensuring, overseeing and tracking Nambawan’s transformation and growth through ICT, as well as being the overseer of its Strategic Business Plan.
The Committee is comprised of Mrs Lesieli Taviri as the Chairperson, Mrs Karen Gibson, Mr Lutz Heim and Professor David Kavanamur as committee members.