Organisational Structure and Governance

The Melbourne Centre for Financial Studies was established by a consortium of The University of Melbourne, Monash University and RMIT University, in conjunction with Finsia, in response to an initiative of (and provision of seed funding by) the Victorian Government. The Melbourne Centre is governed by a Board appointed by its contributing members.

The Melbourne Centre brings together researchers from a range of finance-related disciplines at the consortium member (and other) Universities and from the finance industry. Academic staff conducting research under the Centre's work programs are appointed as Associates of the Centre. A number of external researchers will be affiliated with the Melbourne Centre. Research assistants and Fellows will be appointed to work on research projects undertaken by the Centre, and research capacity will be augmented by the short- and long-term visitors programs.

The Director of the Melbourne Centre has responsibility for developing the strategic direction and profile of the Centre, implementing the work program approved by the Board and managing the day to day activities of the Centre. Professor Kevin Davis has been appointed as the inaugural Director.

The Melbourne Centre Director reports directly to the Centre's Board, which is ultimately responsible for the governance and performance of the Centre. The inaugural Board comprises one representative from each of the founding members. Additional appointments to the Board may be made to represent new sponsoring members.

Finance and Human Resource functions for the Melbourne Centre are provided by one of the consortium members which acts as the administering institution. Additional oversight of the research activities, governance, and accountability arise from regular performance reporting to the Victorian Government and to Faculty Deans at the Consortium Universities.

To ensure effective research linkages between the Melbourne Centre and researchers at its consortium members, each university has appointed a research manager who will liaise with the Centre's Director on a regular basis.

An Industry Advisory Committee (IAC) will be established, comprising senior members of the Melbourne finance, business and public sectors.

This committee provides strategic advice to the Board and the Centre Director on a range of issues. These include:

• Identification of opportunities and needs for research to be conducted by the Centre
• Review of, and suggestions for further development of the work program of the Centre
• Promoting public awareness of the activities of the Melbourne Centre in the business and financial communities
• Developing closer linkages between business and academe.

The Industry Advisory Committee will meet four times each year, or as required. Members of the committee act in an honorary capacity. The Centre's Director attends meetings of the IAC, ensuring that effective use of the IAC's deliberations is made.