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IBA Board Pool of Potential Candidates

The IBA Board is appointed by the Minister for Indigenous Australians and is responsible for the strategic direction and overall governance of IBA. The Board is the Accountable Authority for IBA under the Public Governance, Performance and Accountability Act 2013 (Cth) (PGPA Act).

The Aboriginal and Torres Strait Islander Act 2005 (Cth) (ATSI Act) sets out the composition and meeting requirements of the IBA Board. The Chairperson and at least four other Directors are to be Aboriginal and/or Torres Strait Islanders.

The full Board consists of a Chair, Deputy Chair and Directors. Its members have a diverse range of skills and experience, including in business, finance, Indigenous enterprise, and community life.

 Currently the IBA Board has four sub-committees that assist it to fulfil its functions:

  • the Audit, Risk and Performance Committee
  • the Finance, Investment and Products Committee
  • the Information, Communication and Technology (ICT) Committee, and
  • the Remuneration and Nomination Committee.

Other sub-committees may be established from time to time depending on the needs of the Board.

The Board and its Committees are supported by the IBA Company Secretary and Board Executive Support Officer. The Company Secretary is responsible for ensuring that all relevant business and information is put to the Board, and the decisions of the Board are implemented within IBA.

IBA’s Legislative Framework

IBA was established by the ATSI Act for the following purposes:

  • to assist and enhance Aboriginal and Torres Strait Islander self-management and economic self-sufficiency; and
  • to advance the commercial and economic interests of Aboriginal persons and Torres Strait Islanders by accumulating and using a substantial capital asset for the benefit of the Aboriginal and Torres Strait Islander peoples.

Part 4 of the ATSI Act sets out IBA’s powers, functions, administrative and operational arrangements, constitution and appointment of the Board, and certain operations of the meetings of the Board.

IBA is a corporate Commonwealth entity under the PGPA Act. The PGPA Act regulates the governance, performance and accountability of Commonwealth entities, in particular the use and management of public resources.

Appointment of Directors

Periodically Board vacancies arise and as per Part 4 of the ATSI Act whenever there is, or is expected to be, a vacancy on the Board of Indigenous Business Australia, the Minister must consult Indigenous Business Australia about a suitable appointee.

The ATSI Act outlines that each Indigenous Business Australia Director is to be a person who the Minister is satisfied has experience in:

  • industry, commerce or finance; or
  • Aboriginal and Torres Strait Islander community life or enterprise.

The period of appointment for an IBA Director is generally 3 years and does not exceed 5 years.

Board meetings are usually held six times per year, but out-of-session meetings may be required from time to time.  IBA Directors must not be absent from 3 consecutive meetings in accordance with the ATSI Act.

This equates to an average time commitment of circa 96 hours per year.

Travel to IBA Board meetings is desirable however on occasions some meetings will be offered in a hybrid model (video conference and face to face)

It is noted that under the Cabinet Handbook, significant appointments such as these must be submitted to the Prime Minister who may refer the matter for consideration by the Cabinet. 

How to express interest  

IBA wishes to establish a pool of suitably qualified and talented candidates who could potentially be nominated to the Minister for Indigenous Australians for appointment as a Director to the IBA Board.

Expressions of interest are open to all suitably qualified persons.

To nominate yourself as a potential candidate for the pool, please complete the online form. Ensure to upload the required documents,

The information you will require to complete the online process includes:

  • a short summary (1,000 words or less) outlining your interest in sitting on the IBA Board (include a summary of the skills and experience you believe you could bring to the Board)
  • a copy of your current CV.

This EOI process may also be used to fill future board vacancies noting the Minister must consult IBA about a suitable appointee however the under the Cabinet Handbook, significant appointments such as these must be submitted to the Prime Minister who may refer the matter for consideration by the Cabinet. 

IBA will hold your expression of interest for one year and then you would be required to re-submit should you continue to be interested. The one year will commence from the date of EOI.