Board committees

The board has four standing committees:

Executive Committee

The Executive Committee deals mainly with emergencies, highly sensitive matters, and other matters referred to it by the Board, the chairperson or the President and CEO, that would not be considered within the mandate of any other committee of the Board. See the full Executive Committee Charter.

This committee is chaired by the Chairperson of the Board and includes as members one other private sector and an ex officio director; it meets as necessary, at the discretion of the Chair.

Executive Committee membership:

Audit Committee

The Audit Committee has primary responsibility for overseeing internal accounting and financial controls; the integrity of financial statements; the annual audit; and the special examination of the Corporation conducted at least every 10 years by the Auditor General of Canada. The committee is also responsible for recommendations to the Board based on management reports on compliance with ethics-related policies, and legal and regulatory requirements. All committee members are required to be financially literate and one member must have financial expertise. See the full Audit Committee Charter.

The committee is chaired by a private sector director, as selected by the board. It has two or more private sector directors as members and one or more ex officio directors, and meets at least four times each year.

Audit Committee membership :

Governance and Nominating Committee

The mandate of the Governance and Nominating Committee is to assist with Board oversight of governance issues affecting the corporation, ensure appropriate structures and processes are in place for effective oversight of and direction for the Corporation's activities, and to assume the primary responsibility for the succession of the Chairperson and the private sector directors. This committee reviews the mandates of each board committee; provides information and training to the board; and reviews, on a periodic basis, the Corporation's mandate as set out in the CDIC Act; and all other matters that may affect the board's effectiveness. The committee also reviews, and recommends for approval, the long-term public awareness strategy for informing the public about deposit insurance. See the full Governance and Nominating Committee Charter.

The committee is chaired by a private sector director, as selected by the board. It includes two or more private sector directors, including the chairperson, and one or more ex officio directors. The committee meets at least twice each year.

Governance and Nominating Committee membership:

Human Resources and Compensation Committee (HRCC)

The HRCC's mandate is to review and make recommendations to the board regarding key human resources and compensation policies and strategies, CEO performance assessment, training, CEO and senior management succession planning, compliance with legal requirements and corporate policies pertaining to human resources matters, and the general state of human resource issues. The committee also ensures there are ongoing and appropriate policies and codes with respect to employee business conduct and ethical behaviour. See the full HRCC Charter.

The committee is chaired by a private sector director, as selected by the board. It includes two or more private sector directors, including the board chair and one or more ex officio directors. It meets at least three times each year.

Human Resources and Compensation Committee membership: