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 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.
