Committees, Boards & Governance
VACC is led by its members. It is they who know the automotive industry and are best placed to effect meaningful change on the issues that are most important to them.
That’s why all VACC members are encouraged to get involved in shaping the future of the industry.
There are numerous ways to get involved – through Divisional Committees which represent your sector of the industry, the VACC Executive Board that concentrates on governance and leadership, and the Industry Policy Council which devotes itself to industry issues – and they are all explained in the following videos.
Members interested in learning more should contact their relevant Industry Policy Advisor.
Board Information Pack
Joining the Board can look like a daunting prospect for many members. However, the Board Information Pack provides a great background to the roles and responsibilities of the Board including information on how often the Board meets, and other responsibilities that may take a member’s time. Download: Board Information Pack
VACC Finance, Risk and Audit Committee
The VACC Finance, Risk and Audit Committee is a sub-committee of the VACC Board comprising five members of the VACC Executive Board, who are appointed for terms not exceeding two years.
The committee meets with the VACC Chief Executive Officer and the VACC Chief Financial Officer monthly to review and discuss in detail VACC’s financial results, budgets and operations. The committee is to recommend to the Board that these reports can be relied upon and be approved.
The Finance, Risk and Audit Committee will also endorse the yearly operating budget in May each year and after meeting with the audit partner from Pitcher Partners, they will endorse the yearly 30 June statutory financial statements to the Board for their approval.
VACC Investment Committee
The operation and membership of the VACC Investment Committee is regulated by Clause 31 of the VACC Constitution and Rules.
The VACC Investment Committee comprises three members of the VACC Executive Board, who are appointed to the Board for terms not exceeding four years.
The VACC Investment Committee meets quarterly with two independent investment advisors to review the investment returns of the VACC Special Capital Fund and VACC Building Fund and the investment performance of the VACC appointed fund managers. The committee and advisors receive presentations from these fund managers throughout the year.
The Investment Committee has the overall responsibility for protecting and increasing the funds which have been delegated to them by the VACC Executive Board.
Mission Statement
VACC employs JANA Investment Advisers to provide guidance on investment related matters, inclusive of Environmental, Social or Governance (ESG) related risks within the investment portfolio. All investment managers managing money on behalf of VACC have undergone JANA’s due diligence process.
JANA takes an integrated approach to the consideration of ESG factors, including climate change risk, in their fundamental research and advice process. We also note JANA is a signatory to the Principles of Responsible Investment (PRI), the Responsible Investment Association of Australasia (RIAA) and the Investor Group on Climate Change (IGCC).
Executive Board and Industry Policy Council
VACC Executive Committee elections
Developing industry policy