Each member of the Board may continue to serve after the expiration of the term of office to which that member was appointed until a successor has been appointed. (F) Conflicts of interest No member of the Board may have a financial interest in, or be employed by, a Qualified Infrastructure Project ( QIP ) related to assistance provided under this section or any entity that has purchased bonds under subsection (d). Owning municipal credit of any State or local government or owning the securities of a diversified company that engages in infrastructure activities, provided those activities constitute less than 20 percent of the company’s revenues, or investing in broadly held investment funds shall not be deemed to create a conflict of interest. The Board may issue regulations to define terms used under this subparagraph. (4) Compensation The members of the Board shall be compensated at an amount to be set by the Board, but under no circumstances may such compensation be higher than the rate prescribed for level IV of the Executive Schedule under section 5315 of title 5, United States Code. (5) Staff The Board shall employ and set compensation for such staff as the Board determines as is necessary to carry out the activities and mission of the AIF, and such staff may be paid without regard to the provisions of chapter 51 and subchapter III of chapter 53, United States Code, relating to classification and General Schedule pay rates. (6) Procedures The Board shall establish such procedures as are necessary to carry out this section. (7) Corporate governance standards (A) Board committees generally The Board shall maintain all of the committees required to be maintained by the board of directors of an issuer listed on the New York Stock Exchange as of the date of the enactment of this section. (B) Risk management committee The Board shall maintain a risk management committee, which shall— (i) employ additional staff who are certified by the Board as having significant and relevant experience in insurance underwriting