The Directors of NBS are elected by members and their role is to monitor and provide direction to the management of the Society. This includes regular governance functions such as reviewing monthly accounting and other reporting, as well as cash and liquidity monitoring and planning. Structural and strategic planning as well as dealing with the ever-changing regulatory environment makes the role of a Director at NBS both interesting and challenging.
Two directors retire by rotation at every NBS Annual General Meeting. In addition to the monthly board meeting, the Directors are members of various sub-committees that meet with Management as a combined team. This is both necessary and beneficial to the overall trading health of NBS. The Directors of NBS provide prudential governance to the Society along with Covenant Trustee Services Limited - the NBS Trustee, the Reserve Bank of New Zealand, Fitch Ratings and Deloitte the NBS Auditor.
This gives NBS clients the comfort and assurance, knowing their investments are carefully administered by the approved authorities.