BankVic Director elections 2025: Call for nominations

Eligibility

In accordance with our Constitution:

• You need to have been a fully paid-up member of BankVic continuously for a period of at least two years to nominate, and
• Your nomination must be received by 12pm (Melbourne time) on Monday 30 June 2025.

Skills and experience

BankVic is an Authorised Deposit-taking Institution (ADI) regulated by the Australian Prudential Regulation Authority (APRA). As such, strict standards are in place to ensure the safety of members’ deposits.

The supervision by APRA, combined with the provisions of the Corporations Act 2001 as administered by the Australian Securities and Investments Commission (ASIC), results in Directors assuming legal responsibilities relating to many aspects of the bank.

APRA requires candidates for Director positions, incumbent Directors and other responsible persons of ADIs to comply with rigorous standards relating to their fitness and propriety to undertake and/or remain in such roles.

Candidates should be able to demonstrate knowledge of the economic, regulatory and legal framework in which BankVic operates; and understand and appreciate the history and ethos of our mutual structure.

All nominated candidates will be required to provide personal information that satisfies the criteria relating to such standards prior to being able to stand as a candidate for election.

Such standards include, but are not limited to skill, knowledge and competence; character; diligence; honesty; and integrity and judgement to perform the duties of a Director of an ADI. APRA’s Prudential Standard CPS 520 Fit and Proper dealing with Directors’ fitness and propriety is available at www.apra.gov.au

Persons both nominated and elected may be required to provide further information or undertakings. Those persons elected will also be required to actively participate in a continuous professional development program to a level that satisfies APRA requirements to remain a Director of BankVic.

The Board is committed to high standards of corporate governance. This includes a commitment to diversity, and to ensuring the Board collectively has the range of appropriate skills and experience, including in finance, governance, strategy, or risk.

The Board has identified the following skills and experience as particularly important in a banking and economic environment.

The prudent management of risk and assurance is a specific focus of the banking regulators in Australia:

• Credit management
• Risk management
• Audit
• Financial accounting, and
• Regulatory affairs as they relate to the banking industry.

Nominations panel: Fit and Proper process

Following the close of the Nominations Period on 30 June 2025, a Nominations Panel will be convened.

The Nominations Panel will assess the experience, skills and qualifications a nominee would bring to the Board, and whether they are appropriate for the Board to effectively govern a bank in a complex, competitive, and highly-regulated environment.

The Nominations Panel will consider the Board Skills and Experience Composition Matrix in assessing candidates’ suitability to nominate as a BankVic Director.

The Board encourages and respects the right of all eligible members to consider nominating. This role is a significant time commitment, and the Board encourages members to gain an understanding of the role and responsibilities of a Director before nominating.

All qualifying nominees are required to be interviewed by the Nominations Panel in accordance with BankVic’s Fit and Proper Policy. If you do not make yourself available for interview your nomination will be withdrawn.

Nominees are encouraged to forward their nominations and complete the requisite information requests, at the earliest possible time. Unless an assessment of fitness and propriety in accordance with APRA standards has already been made by BankVic, nominees will be required to meet with the Nominations Panel to assess their fitness and propriety to be a Director. This will occur prior to the election process. 

Should the number of candidates determined by the Nominations Panel as eligible to stand exceed the number of Directors to be elected, a ballot will be conducted.

The Board, as representatives for the Members and to ensure strong and sustainable governance, may indicate their support for a particular candidate or candidates and may offer their rationale for that support in election materials.

Candidates are encouraged to speak with the Chair of the BankVic Board in advance of nomination to understand the role and expectations of a BankVic Director, and to review the BankVic Director Nominations Guide.

If you wish to take up the opportunity to speak with the Chair, or wish to obtain a copy of the Nominations Guide, please contact the Company Secretary: 

Penny Maroulis
Company Secretary
0455 020 585 
cosec@bankvic.com.au 

By order of the board
25 March 2025

Download a copy of 'Director elections 2025: Call for nominations'