QTC Capital Markets Board
QTC’s Capital Markets Board comprises a Queensland Treasury ex-officio representative and six non-executive members appointed by the Governor-in-Council. Prior to appointment to the Board, consideration is given to each proposed Board member’s qualifications, experience, skills, strategic ability, and commitment to contribute to QTC’s performance and achievement of its corporate objectives.
QTC Capital Markets Board Members
The Board operates in accordance with a charter that sets out its roles and responsibilities (based on its delegated power) and the conduct of meetings. The charter provides that the role and functions of the Board are to:
- take responsibility for the corporate governance of QTC
- set strategic direction, policies and risk appetite
- promote and monitor the organisational culture
- monitor the implementation of QTC’s strategy
- ensure the effectiveness of the risk management framework
- monitor QTC’s financial and business performance
- ensure compliance with legal and regulatory obligations
- ensure integrity of reporting, and
- safeguard the reputation of QTC
The Board typically holds at least seven meetings each year and may, whenever necessary, hold additional meetings.
To ensure continuous improvement and enhance overall effectiveness, the Board conducts an annual assessment of its performance. Board members’ remuneration is determined by the Governor-in-Council, with details disclosed in QTC’s financial statements.
Board members are required to monitor and disclose any actual or potential conflicts of interest. Unless the Board decides otherwise, a conflicted Board member may not receive any Board papers, attend meetings, or take part in decisions relating to their declared interests.
Board committees
The Board has established four committees to assist it in overseeing and governing various QTC activities.
QTC places great emphasis on ensuring that each committee has the appropriate mix of skills and experience that will allow each committee to perform its responsibilities effectively. Each year, the chair of each committee is required to facilitate the assessment of their committee’s performance and take any necessary action to enhance their committee’s role, operational processes or membership.
Each committee reports to the Board and is required to:
- after each committee meeting, provide minutes to the Board
- prepare timely reports to the Board outlining relevant matters considered at a particular meeting together with the committee’s opinion and recommendations, and
- as soon as practicable after the end of each year, provide to the Board a report about the committee’s operations and achievements for the year.
In accordance with its charter, the Risk and Audit Committee assists the Board to fulfill its corporate governance responsibilities related to QTC’s enterprise risk management framework, compliance, financial reporting and audit. The Committee makes strategic recommendations, monitors implementation, and reports to the Board on performance. It oversees QTC’s risk and control culture and relevant policies, and ensures compliance with legal and regulatory obligations.
The Committee meets at least four times a year and comprises at least three Board members.
In accordance with its charter, the Funding and Markets Committee assists the Board to fulfill its corporate governance responsibilities related to borrowing, liquidity, onlending, financial risk management and non-debt financial services. The Committee makes strategic recommendations, monitors implementation, and reports to the Board on performance. It also oversees QTC’s financial risk management culture and relevant policies, and ensures compliance with legal and regulatory obligations.
The Committee meets at least four times a year and comprises at least three Board members.
In accordance with its charter, the People and Culture Committee assists the Board to fulfill its corporate governance responsibilities related to people, culture, and remuneration. The Committee makes strategic recommendations, monitors implementation, and reports to the Board on performance. It oversees QTC’s organisational culture, values, behaviours and relevant policies, and ensures compliance with legal and regulatory obligations. The Committee also monitors people and culture related risks and key management personnel development and remuneration.
The Committee meets at least three times a year and comprises at least three Board members.
The Advisory and Consulting Committee commenced its responsibilities on 1 July 2025. In accordance with its charter, the Committee assists the Board to fulfill its corporate governance responsibilities relating to QTC advisory services and Queensland Government Consulting Services (QGCS) for clients. The Committee makes strategic recommendations, monitors implementation, and reports to the Board on performance. It oversees QTC’s culture around client advisory and consulting services and ensures compliance with legal and regulatory obligations. The Committee also monitors risks relating to advisory and consulting services for clients and monitors the reputation of QTC’s Advisory division and QGCS.
The Committee meets at least three times a year and comprises at least three Board members.
State Investment Advisory Board
The State Investment Advisory Board (SIAB) was established in 2008 as an advisory Board for Queensland Treasury Corporation under section 10 of the QTC Act. SIAB was established to manage long-term assets for the State by a Board independent of QTC’s capital markets operations. The long-term assets have no impact on QTC’s capital markets operations and there is no cash flow affect for QTC.
QTC’s State Investment Advisory Board members
With power delegated from QTC, SIAB is responsible for:
- providing governance oversight of the financial assets set aside by the Queensland Government to meet future employee liabilities and other long-term obligations of the State
- providing governance oversight of the financial assets that relate to the Debt Retirement Fund established under the Queensland Future Fund Act 2020, and
- providing investment governance assistance in connection with the Financial Provisioning Fund established under the Mineral and Energy Resources (Financial Provisioning) Act 2018 and the National Injury Insurance Scheme Fund, Queensland.
Board members’ remuneration is determined by the Governor-in-Council. Details are disclosed in QTC’s Annual Report.
In order to ensure continuous improvement and enhance overall effectiveness, the Board conducts an annual assessment of the performance of the Board.
Board members are required to monitor and disclose any actual, potential or perceived conflicts of interest. If an actual, potential or perceived conflict exists, the affected Board member may not receive any Board papers, attend meetings or take part in decisions relating to that declared interest, unless the Board determines that a declared interest does not disqualify a Board member from participating in a decision.