Australian Retail Credit Association – Chair Recruitment

Board Direction, on behalf of the AUSTRALIAN RETAIL CREDIT ASSOCIATION is seeking to appoint an Independent Chair.

ABOUT

The Australian Retail Credit Association (ARCA) exists to promote best practice in credit risk assessment and responsible lending, as well as promoting better standards in consumer credit risk reporting. ARCA is an entirely member funded organisation and has almost 50 credit providers and credit reporting bodies including all major and regional banks, mutuals, finance companies, and fintechs. ARCA’s members account for well over 95% of all consumer lending.

ARCA’s focus is to advance lending practices by advocating for an efficient & effective regulatory environment for consumer lending, as well as developing industry wide rules, standards, and guidelines that support the efficient and fair use of data in providing and managing credit provided to customers.  These objectives place ARCA at the frontline of reforms, impacting credit reporting, responsible lending, and open banking, aiming for an appropriate and pragmatic balance of privacy protection with information that allows for credit market efficiency and greater certainty for providers and consumers. They actively contribute to legislative and policy discussion and ultimately reforms that reflect the changing dynamics of credit and evolving technologies that allow for faster and more intelligent information management.

Their aim is to create and preserve a credit environment that allows providers and consumers make better credit decisions. For more information visit: www.arca.asn.au

For Consumers: ARCA’s objective is to create a transparent and well-protected credit environment that allows for credit to be accurately, fairly, and securely assessed based upon their credit risk and capacity to repay.

For Industry: ARCA advocates the sharing of information between our members and broader industry – including credit providers and credit reporting bodies. Greater collaboration enhances responsible lending, giving credit providers the clarity to avoid over-indebtedness, increase accessibility to credit, and more accurately assess consumer capacity.

For Government: An efficient, well-regulated and secure credit management industry is critical to economic growth productivity. ARCA works with the Government to progress the social, economic, and regulatory aspects of credit provision with the dual focus of protecting consumers and providing certainty for industry.

ABOUT THE ORGANISATION & ROLE

ARCA operate in an industry that significantly impacts the daily lives of everyone in Australia.  As Chair your role will be of critical importance – particularly as the adoption of comprehensive credit reporting (CCR) and Open Banking in Australia become central to a data driven economy. Further, this position also offers an opportunity for you to build your networks and personal brand through exposure to the ‘who’s who’ of financial service companies.

Board Members

  • Lisa Davis                        Equifax
  • Poli Konstantinidis           Experian
  • Andrew Ward                   NAB
  • Nigel Dunn                       CBA
  • Tim Brinkler                      Latitude
  • Jason Humphrey              ANZ
  • Marina Harpur                  AMP Bank
  • + 1 Vacancy

Size/Scope of business

  • Revenues of just under $3M (excluding our conference with revenues of $1.4M)
  • 12 employees – mainly Melbourne & Sydney, but also Brisbane

Subsidiaries

They also have a subsidiary called the Reciprocity and Data Exchange Administrator (RDEA) which has a role in governing the industry rules for credit reporting. They have a separate Board with currently 4 Directors from Members. This board meets 8 times a year and the Chair of ARCA previously also sat on this as Chair. Ideally the ARCA Chair will be available for this as well.

Role Description

The current Board have deep risk and financial services experience. It has been identified that the new Chair needn’t necessarily have financial services experience however, they MUST be familiar with operating in highly regulated environments and in working with Government, regulators or relevant stakeholders for example: Treasury, ASIC, Attorney General, Office of Privacy Commissioner, ACCC and the Productivity Commission.

PERSON SPECIFICATION

Due to the recent retirement of the Chair an individual is sought to lead the existing member-based board. The successful candidate must bring complementary skills (as set out below) to drive and guide the future success of the organisation in areas such as CCR, Open Banking, Responsible Lending and broadening the Membership base outside of financial services.   To be successful you must be able to provide evidence of success in the following essential criteria.

  1. Governance: Prior Non Executive Director (NED) experience – ideally as Chair – is essential.  Preference will be given to those who bring a proven governance success in organisation of similar scope and scale.
  2. Skills & Experience: Success operating in highly regulated environments; Skills and experience that complement the existing deep financial experience of the board. Prior Financial Services NED experience is NOT a prerequisite.
  3. Networks & ConnectionsEvidence of relevant and leveragable networks/relationships including: with Government, regulators or relevant stakeholders for example: Treasury, ASIC, Attorney General, Office of Privacy Commissioner, ACCC and the Productivity Commission.
  4. Passion: A genuine and proven passion for the work of the ARCA.
  5. Cultural Fit: Familiarity of the running/governance of member based organisations.  A proven ability to work collaboratively and effectively in a stakeholder based environment. An ability lead a board of industry directors.

Please note that we are UNABLE to accept applications from anyone employed by any of ARCA’s members.

Location: Flexible. However, the successful candidate will likely be Melbourne/Sydney based given location of ARCA’s members/other directors/staff.

Time Commitment: The board meets monthly. Quarterly face to face for half a day (alternating between Melbourne, Sydney, Brisbane) with the other meetings held via teleconference (2 hours) You must be able to attend all the face to face board meetings in person.

Remuneration: $80,000

TIMINGS (as a guide)

  • Applications close 10th February (late applications may be accepted)
  • Longlist Meeting with Selection Committee – w/c 28h February (successful/unsuccessful candidates informed of outcomes of their applications)
  • Shortlist Interviews – 2nd March (held in Sydney or via video conferencing)
  • Shortlist Meeting with Committee – w/c 15th March (shortlisted and unsuccessful candidates informed)
  • Final Panel Interviews – w/c 22nd March (held in Sydney or Melbourne)

THE APPLICATION

You MUST complete and submit the form below and attach your Board CV prior to the Monday 10th February 2020 . There is a STRICT 1500 CHARACTER limit for each section.

To avoid disappointment we strongly suggest that, prior to completing the form below, you save your responses to each criteria in a Word document and then paste them directly into the relevant sections below.

Upon submitting your form you will receive an automatic notification of receipt at the bottom of this page and by email. If you do not receive this within 24hrs you should assume your application was not successfully processed (usually this is because the CHARACTER limit has been breached). Either please try again or email  contact@boarddirection.com.au.

APPLY HERE

Applications are now closed for this role. Late applications may be accepted. Should you still want to apply please email: ua.mo1656872805c.noi1656872805tceri1656872805ddrao1656872805b@tca1656872805tnoc1656872805

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