Our governance

The Secretary to the Treasury is responsible for the Treasury. The Treasury’s leadership is delivered through the Executive Leadership Team and Kaiurungi. The Treasury uses a range of internal advisory boards to challenge its thinking and decision making.

Members are appointed by the Secretary to the Treasury to provide a range of perspectives and expertise. Details of each advisory body are given below:

• The Treasury Board. This external advisory group supports the Treasury’s Secretary and ELT to ensure that its organisational strategy, capability and performance make the best possible contribution to the achievement of its goals. Current members of the Board are the Secretary to the Treasury (Gabriel Makhlouf), the Chief Operating Officer (Fiona Ross), Cathy Quinn, Mark Verbiest, Harlene Hayne, Traci Houpapa, Richard Wagstaff, Livia Esterhazy and Philip Gaetjens (Secretary to the Australian Treasury).
• The Risk and Assurance Committee. This group is a sub-committee of the Treasury Board with an independent chair and three additional external members. It provides assurance and advice to the Secretary to the Treasury relating to the effectiveness and adequacy of internal control and risk management systems, processes and activities across the Treasury. Current members are Robin Oliver, Julia Raue, Scott Scoullar and Cathy Quinn (Chair).
• FSG Audit Committee. This is an advisory committee that provides advice and observations to the Secretary to the Treasury relating to key issues and risks that affect the production and audit of the Financial Statements of the Government (FSG). The Committee is chaired by an independent chair – Ian Ball – and with two additional external members – Souella Cummings and Mike Blake.
• Commercial Operations Advisory Board. The Board supports the Deputy Secretary, Financial and Commercial through providing guidance on the strategic approach and work programme priorities of the Treasury’s commercial operations portfolio. Current external members are Roger France, Marko Bogoievski, Mark Verbiest and Anne Blackburn.

• Capital Markets Advisory Committee. The Capital Markets Advisory Committee (CMAC) provides independent perspectives and advice to the Treasury’s Executive Leadership Team. The committee offers challenge to functions that effect financial outcomes related to debt management, export credit, treasury services and supporting functions. This includes; strategy and prioritisation, business performance, strategic and business risk management, control and compliance functions and assurance framework.

  The committee will also consider appropriate strategic targets and key performance indicators for the Treasury’s Capital Markets Directorate as well as monitoring and advising on the directorate’s performance against them.

  Current members of CMAC are; Burke Steele, Linda Robertson, Traci Houpapa, Michael Allen, Bryan Chapple and Jon Grayson (Chair)