Latrobe Health Services (Latrobe) is a mutual not-for-profit private health insurer established in 1950 with its principal base in regional Victoria. With over 81,000 members and 40% of those based in Gippsland Victoria, Latrobe is committed to providing maximum value for its members as well as high levels of member service.
As a member-owned fund, Latrobe provides:
- value for money products
- competitive benefits, and
- great service.
Latrobe belongs to the Members Health Fund Alliance, an alliance of 27 health insurance funds that share the principle of putting members health before profits. In 2019 Latrobe’s total revenue was approximately $185 million with $150 million paid back to members in the form of benefits.
The board has put in place a governance framework to govern and direct the company in accordance with the relevant requirements of Latrobe’s constitution, the Corporations Act 2001, and regulatory requirements of the Australian Prudential Regulatory Authority.
In 1991 Latrobe established Maryvale Private Hospital, Gippsland’s only private acute medical and surgical hospital. Since its inception, Maryvale has cared for more than 44,000 patients in the Gippsland region. Today, it’s a key health hub contributing to education and clinical programs such as diabetic care, cancer services, palliative care, breast care and men’s health.
Latrobe’s commitment to the regions also includes support for community medical clinics and sponsorship of programs aimed at improving access to health services for rural and regional communities.
Additional information regarding Latrobe is available at: http://www.latrobehealth.com.au.
As part of its planned board succession, the board is seeking to recruit two additional directors with the following broad profiles:
- a director who, in due course, will be suitable to chair the Audit Committee, and
- a director who will bring additional diversity to the board in terms of age, gender, ethnicity and skill mix. E.g., IT, Innovation, Business Development.
Directors who have an affinity with the Gippsland region are highly desirable.
The board is seeking candidates who are passionate about Latrobe’s work and met the selection criteria outlined below.
It is estimated that directors are required to commit approximately 20 – 25 days per annum to their role inclusive of all preparation and travel time. Directors are expected to attend a minimum of 80% of board meetings and other events.
Directors are remunerated by way of a market competitive base fee with additional loadings for committee chair roles and membership. The level of director remuneration is currently under review and is proposed to be finalised at the November AGM.
The board is seeking a director with a long-term commitment to the company. While the term of appointment for the new director to be appointed through this process is three years, it is anticipated that the director would seek to serve at least two terms.
The Key Criteria
The successful candidate/s must be able to meet the following criteria:
- Demonstrated commercial and strategic acumen gained through recent direct commercial experience in a comparable business to Latrobe
- An ability to analyse, critically assess and drive company performance
- Experience at board level including a sound working knowledge of corporate governance systems and frameworks of an APRA regulated entity, and an ability to apply that knowledge to improve company performance
- An ability to work effectively within a member-owned company context including liaising with, and gaining the trust and respect of, members and other stakeholders
- Excellent interpersonal, verbal and written communication skills which accord with the outlined requisite personal attributes
In addition, it is essential that the candidate meets at least one of the following profiles.
- Skills, knowledge and experience as a non-executive director and be suitable to chair an Audit Committee and therefore is CPA / CA qualified, has deep experience in Chief Financial Officer functions, experience in an executive role (preferably Chief Financial Officer) in an APRA regulated organisation, and has previously chaired an Audit and Risk Committee.
- A director who will bring additional diversity to the board in terms of age, gender, ethnicity and skill mix.
Latrobe is seeking candidates who have an affinity with the Gippsland region.