Board Director

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Ontario Pension Board (OPB) is the administrator of the Public Service Pension Plan (PSPP or the Plan), a major defined benefit pension plan, sponsored by the Government of Ontario.  The Plan is a statutory pension plan established under the Public Service Pension Act.  OPB is a statutory corporation constituted under the Act and is an agency of the Province.  The PSPP is a contributory plan meaning that both members and employers contribute.  The terms of the Plan, including contribution rates and benefits, are set by the government through Order-in-Council.  The membership of the Plan is comprised of eligible employees of the Ontario Government and certain of its Agencies, Boards and Commissions.  With $31 billion in assets, and approximately 90,000 members, retired members, and deferred members, the PSPP is one of Canada’s largest pension plans.

OPB is committed to good governance and believes that an important prerequisite to good governance is having a Board that comprises individual directors who, collectively, have the full range of skills, expertise and experience necessary to oversee management and otherwise fulfill its duties and responsibilities. While the appropriate technical skills and experience are essential, equally important are the diverse personal attributes and competencies a prospective Board member will bring to the table. 

Members of OPB’s Board of Directors are appointed based on their expertise, commitment, integrity and vision. Working together, they ensure the Plan’s governance structure and practices reflect the highest standards. In fulfilling their duties, members of the Board are directly accountable to the Plan’s beneficiaries and to the Plan Sponsor - the Ontario Government - through the President of the Treasury Board.

To provide guidance on the opportunities and challenges facing OPB, the Board Directors must possess an appropriate blend of experience that will include: senior level investment credentials; expertise in the design, funding and administration of defined benefit pension plans; financial, strategic and operational risk management experience;  experience with matters relating to information technology; and sophisticated understanding of the issues facing the Ontario public service, in the context of considerations impacting all public sector organizations.

The Board is currently seeking a new Board Director: one with strong actuarial expertise and credentials. This Board member will have an extraordinary opportunity to contribute to the oversight and continued development of an inclusive organization with a reputation as an international industry leader for service excellence and good governance practices.  

OPB is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion.  Every effort will be made through this process to ensure diverse candidates are considered who reflect a range of experiences and backgrounds. In accordance with the Accessible Canada Act, 2019 and all applicable provincial accessibility standards, upon request, accommodation will be provided by both Odgers Berndtson and the Ontario Pension Board throughout the recruitment, selection and/or assessment process to applicants with disabilities.

To express your interest in this Directorship or to forward a nomination, please submit your resume and related information in confidence at www.odgersberndtson.ca/en/careers/17103  or confidentially at sarah.shaikh@odgersberndtson.com.


Similar searches: Actuarial Candidate, Government/Regulatory, Ontario