The Board of The Mutual Bank is committed to excellence in governance standards and practices to ensure its sustainability and long term value to its members and the community.
The Mutual Bank operates under the Corporations Act 2001 and the guidelines and foundations of corporate governance set out by the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investment Commission (ASIC). The Board takes an active role in ensuring corporate governance best practice.
The Mutual Banks Governance Framework has been developed to support its strategic plan, whilst ensuring a clear oversight of key controls and effective leadership. These factors enable The Mutual Bank to operate, in an effective manner with prudent management. The Board, and each employee, have a responsibility for upholding The Mutual Bank’s values and behaviours which underpin operational activities, provide transparency and protect members’ interests.
The Board ensures effective control of the corporate governance framework through effective delegation, risk management and a system of assurance regarding financial and non-financial reporting.