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How you as PMC invite and rotate the members of your security team is up to you to decide. For inspiration, you could have a look at how the Airflow PMC has arranged this. For example, it is encouraged to periodically rotate out participants from outside the PMC that are not actively contributing.
Once you have agreement in the PMC on how you want to manage your security list, you can create the list via selfservice (it will recognize the 'security' list name and set it up accordingly) and notify security@apache.org of your policy.