Group Audit and Risk Committee

2024 Appointment Process Candidate Information

Contribute to the intergenerational wealth of Waikato iwi.

Drive best practice in iwi investment management, governance, and reporting.

Maaku anoo e hanga tooku nei whare
Ko ngaa pou oo roto he maahoe, he patatee
Ko te taahuhu, he hiinau
Me whakatupu ki te hua o te rengarenga
Me whakapakari ki te hua o te kawariki

We're hiringPlease apply using the process here


Waikato-Tainui works for more than 89,000 iwi members affiliated to 68 marae from 33 hapuu. Our 2023 Annual Report and Q4 Report can be found here.

Whakatupuranga 2050 involves three key elements fundamental to equipping tribal members with the capacity to shape their own future:

  • pride and a commitment to uphold their tribal identity and integrity.
  • a diligence to succeed in education and beyond.
  • a self-determination and socio-economic independence.

These three key elements recognise the importance of tribal history, maaatauranga (knowledge, wisdom), reo (language) and tikanga (custom, protocol); encourage a culture for success; and express Waikato-Tainui’s commitment to develop and grow its tribal assets.

Te Whakakitenga o Waikato (‘Te Whakakitenga’) is the tribal parliament and authority of the Waikato iwi and was set up to receive the 1995 Raupatu Lands settlement for grievances under the Treaty of Waitangi/Te Tiriti o Waitangi.

The Waikato Raupatu Lands Trust (‘the Lands Trust’), was established to receive cultural, commercial and other redress assets under the 1995 settlement.

The beneficiaries of the Lands Trust are members of Waikato iwi and the purpose of the trust is to promote the educational, spiritual, economic, social and cultural advancement of the Waikato iwi and its various hapuu in perpetuity.

Pursuit of additional grievance claims with respect to the Waikato River resulted in a Deed of Settlement signed in 2008. The Waikato Raupatu River Trust (‘the River Trust’) was established to pursue a range of general and specific purposes in connection with the Waikato River in order to benefit members of Waikato iwi and the Lands Trust in perpetuity.

Under the 2008 Deed of Settlement, the River Trust received defined parcels of land administered by Waikato Regional Council for soil conservation and river control purposes, 15 sites of cultural significance and the sum of $50 million as a fund (the ‘River Initiatives Fund’) to support initiatives to restore and protect the relationship of Waikato iwi with the Waikato River (including its economic, social, cultural and spiritual relationships) and the protection and enhancement of significant sites, fisheries, flora and fauna in the lower reaches of the river.

The third trust is the Waikato Endowed Colleges Trust set up to develop, establish and maintain the Endowed Colleges (Waikato University and Auckland University) and the realisation of the vision of Sir Robert Mahuta in relation to the establishment of the Endowed Colleges.

The combined assets of the Group total approximately $1.45 billion. The investment portfolio is diverse and includes property, global equities, fixed income, natural resources, cash and settlement receivables. Tainui Group Holdings was appointed as the Chief Investment Officer of the Waikato iwi assets in January 2021.

Te Arataura

Te Arataura is the executive body of Te Whakakitenga, comprising 11 members - 10 of whom are elected by Te Whakakitenga, and one of whom is appointed by the head of the Kaahui Ariki, Kiingi Tuheitia. Te Arataura is responsible for setting the strategic direction to achieve Whakatupuranga 2050.

The current members of Te Arataura are:

  • Tukoroirangi Morgan (Chair)
  • Jackie Colliar (Deputy Chair)
  • Ngira Simmonds (Kaahui Ariki Representative)
  •  Linda Te Aho
  • Vince Hapi
  • Hinerangi Raumati
  • Huirama Matatahi
  • Maxine Graham
  • Craig Barrett
  • Tori Ngataki
  • Parekawhia McLean

Group Audit and Risk Committee

The Group Audit and Risk Committee assists Te Arataura in performing its responsibilities to oversee and manage financial and non-financial risk for Te Whakakitenga.

The Committee has three key areas of responsibility. These are:

  • financial reporting;
  • audit functions; and
  • risk management and internal controls.

Appointment of Group Audit and Risk Committee Members

Members of the Committee, including the Chair, are appointed by Te Arataura.

The Committee must comprise no fewer than four members. At least two Committee Members must be members of Te Arataura. Elected Members of Te Whakakitenga are eligible for consideration and selection as members of the Committee. The current members are:

Craig Barrett Chair, Te Arataura Member
Wayne Panapa Independent Member

Tori Ngataki

Te Arataura Member

Jackie Colliar

Te Arataura Member

Knowledge, Skills and Experience

To be effective the Committee as a whole requires all members to have the following competencies:

  • a questioning mind and willingness to ask probing questions and give direct opinions;
  • a high sense of probity;
  • independence from Te Whakakitenga Management;
  • may not be employees of Te Whakakitenga;
  • financially literate (ability to read and understand basic financial statements including a balance sheet, a profit and loss statement and a cash flow statement, ask pertinent questions about them, and interpret and evaluate the answers); and
  • respect for confidentiality of those matters that are in confidence.

Among the members:

  • at least one member must have significant, recent, and relevant experience in finance, accounting or auditing; and
  • at least one member must have some experience or knowledge of risk management.

Particular Skill Requirements for this Appointment Process

For this appointment, the Committee is particularly interested in candidates who offer the following:

  • strong governance, risk management, compliance, financial literacy, and knowledge of accounting and auditing standards;
  • financial capability/commercial acumen (e.g. accounting qualification and/or demonstrated commercial experience);
  • independence of thought, open-mindedness, forward thinking, and both persuasive and persuadable;
  • mana in the Waikato rohe.

Time Commitment

Over the next 12 months Committee members can expect four (4) three-hour meetings, a commitment of around 30 hours (including preparation time). In addition, there will be a small number of stakeholder meetings and some work resulting from those. Meetings are generally held at the Waikato-Tainui offices located in Hamilton.

Committee Member Fees

This is a paid position.

Indicative Dates

Candidates are asked to note the following indicative dates.

Candidate search 30 May – 12 June 2024
Interview shortlist confirmed w/c 17 June 2024
Interviews with Panel w/c 24 June 2024
Preferred candidate reference checks

w/c 1 July 2024

Recommendation to Te Arataura 19 July 2024

Please apply using the process set out in the advertisement