02 Governance, Structure & People THE CEFC'S PEOPLE

CEFC ANNUAL REPORT / 2014–15

The CEFC's People

While the CEFC has a large amount of capital available to invest, the CEFC is a small organisation in terms of people.

The Corporation has eight statutory officers, including a Board of seven, made up of one part-time Chair and six part-time Board Members, plus a full-time Chief Executive Officer.

The CEFC is headquartered in Sydney, has a second office located in Brisbane, and an arrangement to utilise offices of the Climate Change Authority in Melbourne. At 30 June 2015, there was a headcount of 31 staff located in Sydney, 27 staff located in Brisbane and two in Melbourne (including the CEO but excluding Board members).

At 30 June 2015, excluding Board members and including the CEO and four Executives, the CEFC had a headcount of 60 staff (FTE: 57 staff) dedicated to fulfilling the Corporation’s investment portfolio management, corporate treasury, finance, human resources, compliance, risk management, marketing, communications, stakeholder relations and administration functions. Given our investment focus, the CEFC’s staff are mainly drawn from a private sector financing background. Although working in the public sector, CEFC employees are not public servants for the purposes of the Public Service Act 1999 and are instead employed under the CEFC Act. Employment conditions and remuneration are determined by the Corporation.

The organisation remains a relatively young one, still building its operating platforms and maturing its structures as its portfolio builds and evolves, and in light of the experience in the market. This also requires the CEFC to progressively augment and deepen its staff skill base.

The CEFC has also been able to draw upon the expertise and experience of its international counterparts, in particular from the UK Green Investment Bank (GIB) in specialist areas of our respective investment priority market sectors, emerging technologies, portfolio management, and in the legal area. To assist this, the CEFC has developed a short-term staff exchange program with the GIB. The initial successful two month placement in the CEFC by a member of the GIB’s investment team took place in Q4 of 2014–15. This will be followed up by a reciprocal exchange of a CEFC legal team member to the UK during 2015–16.

CEFC staff members on a site visit to Taralga Wind Farm CEFC staff members on a site visit to Taralga Wind Farm
CEFC was a key supporter of the Solar 2015 Conference CEFC was a key supporter of the Solar 2015 Conference

Terms of employment, remuneration and conditions

CEFC staff have their terms and conditions established under contract. Salaries may include a variable compensation component. As for Executives, this is overseen by the Board’s Remuneration and Human Resources Committee. More information on payments made to employees in the reporting period is available in the Financial Statements at Note 1.8 and Note 3.

CEFC staff travel and expenses claims are usually dealt with on an indemnity and reimbursement basis.


Figure 28:
CEFC staffing structure (FTE, excludes Board and CEO)

Level

No.

Executive

4

Executive Director

8

Director

8

Associate Director

16

Analyst

6

Manager

7

Administration

7

TOTAL

56

Staff profile: Structure

The CEFC does not use Australian Public Service classifications and has instead adopted the structure outlined in Figure 28.

Staff Profile: Age

CEFC staff have an average age of 43 years. This reflects the specialised role of the CEFC, and:

  • The need to hire experienced, senior practitioners within each profession required, and
  • The fact the CEFC does not have a graduate entry program. Consideration may be given to instituting such a program as the Corporation reaches further maturity.

Staff Profile: Gender and equal employment opportunity

The Corporation is at near gender equity in raw terms, with 49 per cent female compared with 51 per cent male. These statistics are based on headcount and exclude the Board and CEO.

Women are over-represented at more junior levels of the organisation and under-represented at more senior levels:

  • At Executive level, the gender ratio is 75 per cent male to 25 per cent female (i.e. one of four Executives, excluding the CEO)

  • Of the next 16 most senior employees below Executive level, 69 per cent are male and 31 per cent are female (a headcount ratio of 11 men to five women)

  • Of the next 39 employees, 59 per cent are female and 41 per cent are male (a headcount ratio of 23 female to 16 male).

The CEFC takes gender equity seriously, and during the 2013–14 year added an Equal Employment Opportunity program to a list of measures the Corporation has adopted to reinforce that the workplace is supportive of women. The full EEO report for 2015 can be accessed online at the CEFC website.

Staff Profile: Diversity

Of the CEFC’s headcount of 60 staff at 30 June 2015, 45 per cent were born overseas and nine per cent have English as a second language. No CEFC employees identified as Indigenous or as having a disability.

Given the CEFC’s small employment profile, the CEFC does not consider the low numbers identified as being of Indigenous background or as persons with a disability as statistically significant.

These statistics are based on headcount and exclude the Board and CEO.

CEFC staff members visit Moree Solar Farm CEFC staff members visit Moree Solar Farm