Board committees
Board of Directors
CDIC’s Board of Directors acts in the best interests of the Corporation with depositors in mind. The Board provides an environment for Directors to be open and honest amongst each other and with Management, while acting in good faith and the best interests of the Corporation and depositors.
Our board includes a Chair, six private sector directors, and six public sector directors. Our private sector directors bring practical experience from the business world while our public sector directors provide knowledge of the financial, supervisory, and regulatory environment that we operate in. The public sector (also known as “Ex Officio”) directors can choose an alternate to attend meetings in their place.
For more information on the Board’s role and responsibilities, see the Director Accountability Profile.
Board Chair
The Chair leads the board, to ensure they act in the best interests of CDIC and that it meets its goals effectively. The Chair is appointed by the Governor in Council for a specific part-time term.
The Chair works with the President and CEO to represent CDIC to Parliament and Government.
For more information on the Chair’s role and responsibilities, see the Chair Accountability Profile.
Committees of the Board of Directors
Our Board assigns activities and decision-making responsibilities to three standing committees. These committees can provide a platform to review issues, and support Management recommendations for the Board. The Board can also create ad hoc committees if needed.
Private and public sector directors make up the committees, providing CDIC with a range of expertise and talent. The Board appoints committee Chairs from the private sector, who provide leadership to the committee. The Board currently has these standing committees.
Audit Committee
The Audit Committee oversees CDIC’s financial reporting process, and the integrity of our financial statements. This includes our internal accounting systems and financial controls. They also oversee how policies on financial matters are carried out.
Governance and Human Resources Committee
The Governance and Human Resources Committee (GHRC) oversees corporate governance and human resources issues. They also oversee compensation policies, processes, and strategies. This includes the business conduct and ethical behaviour of Board directors and employees.
Risk Committee
The Risk Committee oversees CDIC’s Enterprise Risk Management Framework. It reviews Management’s risk identification and management processes. They manage any strategic, preparedness, operational, financial, organizational, and reputational risks that could impact CDIC.