VFMC > Governance

VFMC Governance

Established under the Victorian Funds Management Corporation Act 1994, VFMC’s governance framework provides a clear and effective division of roles and responsibilities to facilitate accountability and operational efficiency. 

Through the VFMC Board Charter and Instrument of Delegation, there are delegations in place that specify responsibilities and accountabilities for our decision-making. This governance framework is supported by Board committees, management committees, investment committees and risk management systems and controls. 

VFMC governance framework gives us clear responsibilities for our role and clear accountabilities to our clients, our people and the public.



VFMC was established under the Victorian Funds Management Corporation Act 1994 (the Act). We are a public authority and body corporate governed by an independent Board of Directors whose members are appointed by the Governor in Council.  The Chair and Deputy Chair are appointed by the Treasurer.



VFMC complies with the Prudential Standard: VFMC and the Centralised Investment Model, 1 October 2016, plus our own Code of Conduct Policy, which requires our employees to act in accordance with the Code of Conduct for Victorian Public Sector Employees. 



VFMC follows a strong disclosure regime under its governance framework. As a transparent public authority, we adhere to clear disclosure procedures and practices. This includes our use of consultancies, our reporting and providing information on request to the Department of Treasury & Finance and the Treasurer of Victoria.  



VFMC’s procurement framework complies with the policies and directives of the Victorian Government Purchasing Board, established under the Financial Management Act 1994.

Policies & Documentation

A list of relevant Policies which provide the framework for VFMC
directors, employees and contractors to comply with our public sector obligations, can be found here.