New Zealand Thoroughbred Racing (NZTR) Job Description Position Director, NZTR Board External and Internal Key Relationships Internal: NZTR CEO Managers & Staff of NZTR External: NZ Racing Board (NZRB) Racing Clubs NZ Thoroughbred Racehorses Owners Federation NZ Thoroughbred Breeders Association NZ Trainers Association NZ Jockeys Association Graded Stakes Committee General Trust Fund Judicial Control Authority Racing Integrity Unit Thoroughbred Governing Bodies in International Racing Jurisdictions Other stakeholders in thoroughbred racing in NZ NZ Racing Industry Racing contributes $1.6 billion (0.9% of GDP) to the New Zealand economy and directly employs 8,877 people. When including those who are employed elsewhere in the economy due to activity within the racing industry, this number grows to 16,930. A total of 52,732 people participate in racing when you include casual staff, part time workers and volunteers. That s 1.2% of the entire population. The largest economic contribution racing makes is in wages and salaries more than $768 million is paid every year to employees in racing. $167 million is generated in export revenue for New Zealand with auction sales alone boosting the economy by more than $57 million. More than one million New Zealanders attended race meetings in 2008/09, spending $71 million on betting, food, drink, transport and accommodation. For every $1 spent by an attendee at the races, a further $0.39 cents is spent in the community on retail items, transport and entertainment. The government receives more than $39 million from wagering taxes alone. New Zealand s racing industry is comparable in economic impact to the wine and seafood industries, as follows: Racing Wine Seafood Contribution to GDP $1.64 billion $1.5 billion $1.7 billion Direct employment impact FTE 8,877 5,940 10,520 Total employment impact FTE 17,000 16,500 26,600
NZTR NZTR exists to provide the thoroughbred code with leadership and direction by: a) Ensuring that the thoroughbred code is effectively administered; b) Determining its strategic direction; and c) Ensuring its health and competitiveness with other sports and entertainment options. Its challenge is to make sure that everything it does meets one simple test what is best for New Zealand thoroughbred racing. In governing the code nationally NZTR must: a) Define and regulate the policies and Rules of Racing of the thoroughbred code and recommend amendments to the Rules (but not provide Race day Integrity Services this is now the responsibility of the independent Racing Integrity Unit) b) Represent the collective interests of thoroughbred code participants in policy and regulatory matters and government interactions to and through the New Zealand Racing Board (NZRB) c) Set the organisation objectives and strategy of the thoroughbred code and to set performance targets for the thoroughbred code d) Set the thoroughbred code s distribution policy and to allocate funds within the thoroughbred code to maximize all economic benefits e) Participate in the NZRB s governance and decision making on behalf of all thoroughbred code stakeholders through NZTR s nominee to the NZRB f) Support the NZRB s objectives and proposals at a code level while ensuring that they are fair for thoroughbred racing and all its stakeholders g) Communicate with and provide relevant information to all thoroughbred code participants h) Set the code s strategy for education, health and safety i) Certify the thoroughbred code s compliance with all required licences, warrants, qualifications and authorisations j) Foster increased participation and investment in the thoroughbred code k) Provide a central secretariat for the thoroughbred code encompassing: The Rules of Racing, Stud Book, Registration, Licensing, Programming, Handicapping, Financial Services, IT and the code s Database To these ends NZTR is required to collaborate with the NZRB, the Harness and Greyhound racing codes, clubs and clusters, thoroughbred sector groups, international bodies and other thoroughbred industry participants in carrying out its roles and responsibilities. Staff Reports NZTR Chief Executive Page 2 of 5
Length of Term Three years, with a maximum of three terms. Work Requirements Approximately 300 hours annually, inclusive of approximately 9 Board meetings per year, the NZTR Annual General Meeting and participation on relevant Board Committees. Role Purpose The Board s roles are to ensure a streamlined, accountable, efficient and effective executive and staff and an organisational structure to best provide the leadership and direction, and deliver NZTR s services. 1. The Board will direct and supervise the management, organisation and affairs of NZTR. It will: a) Ensure that NZTR goals are clearly established, and set strategies to achieve them (such strategies being expected to originate, in the first instance, from Management); b) Set policies to strengthen the performance of NZTR including ensuring that Management is proactively seeking to build the Organisation through innovation, initiative, technology, new products and the development of its organisation capital; c) Monitor the performance of Management; d) Appoint the CE, set the terms of the CE s employment contract and, where necessary, terminate the CE s employment with NZTR; e) Decide on whatever steps are necessary to protect NZTR s financial position and to ensure it has sustainable reserves to meet its debts and other obligations when they fall due; f) Ensure that NZTR s financial statements are true and fair and otherwise conform with law; g) Ensuring that NZTR adheres to high standards of ethics and corporate behaviour; and h) Ensure that NZTR has appropriate risk management/regulatory compliance policies in place. In the normal course of events, day to day management of NZTR will be in the hands of Management. 2. The Board will satisfy itself that NZTR is achieving NZTR s agreed goals. 3. Capital and resources of NZTR The capital and resources of NZTR will be allocated to those assets and activities, which will enable it to achieve its goals in a manner best serving the interests of the Stakeholders as a whole. 4. The Board s Relationship with Stakeholders The Board will meet with the Members Council at least once every year outside of the AGM. It will use its best endeavours to familiarise itself with issues of concern to Stakeholders, will consult with them regularly and will take their views into account when making decisions concerning the direction and welfare of the thoroughbred code. Page 3 of 5
The Board will regularly evaluate economic, political, social and legal issues and any other relevant external matters that may influence or affect the development of the organisation or the interests of Stakeholders and, if thought appropriate, will take outside expert advice on these matters. 5. Participation on NZTR Committees Currently the Board has three standing committees, namely the: 1. Audit & Risk Committee 2. Integrity Committee 3. Appointments & Remuneration Committee Other committees may be formed for specific purposes and disbanded as required. Key Result Areas Annually the Board will; a) Review NZTR Goals; b) Review the strategies for achieving NZTR goals; c) Approve the annual budget; d) Approve the annual and half yearly financial statements, report to Stakeholders and public announcements; e) Approve the annual report; f) Review NZTR s audit requirements; g) Review the performance of, necessity for and composition of Board committees; h) Review the CE s performance and remuneration; i) Review remuneration policies and practices in general including superannuation and incentive schemes for management; j) Review risk assessment policies and controls including insurance covers and compliance with legal and regulatory requirements; k) Review NZTR s code of conduct and ethical standards; l) Review Stakeholder, customer and supplier relations; m) Review donations and sponsorships; and n) Agree the following year s work plan. Person Specification a) Proven ability and intelligence to make sensible organisation decisions and recommendations b) Demonstrated entrepreneurial talent for contributing to the creation of Stakeholder value c) Proven ability to see the wider picture d) Strong commercial nous e) High ethical standards and personal integrity f) A high degree of analytical skills and the ability to make sound judgments based upon evidence g) Demonstrated commitment to furthering the interests of Stakeholders and the achievement of NZTR goals h) Demonstrated industry knowledge a majority of the Board, but not all Directors, must have industry knowledge. Page 4 of 5
Key Skills and Competencies a) Knowledge of Thoroughbred Racing b) Proven experience at Board level c) Strong relationship building and management skills d) Proven experience of participation on Board Committees e) Excellent communication skills f) Ability to effectively engage with stakeholders January 2014 Page 5 of 5