Office of the President and CEO
Reporting to the Board of Directors of the OMERS Administration Corporation, the President and CEO is responsible for the overall management of OMERS. The President incorporates Board direction into the development of the OMERS Strategic Plan and its annual operating goals and objectives.
The following operating divisions report to the Chief Executive Officer:
Public Investments
Public Investments has responsibility for prudently investing funds entrusted to OMERS with the objective of achieving the highest, most consistent return commensurate with the risk profile of the Fund and its other principal objectives.
Infrastructure
Through Borealis Infrastructure, OMERS has become an investor of choice in the infrastructure sector. Our assets include majority or minority positions alongside other pension, corporate and government investors. Infrastructure investing involves direct investments in inflation sensitive assets that are critical to the long-term success of a modern industrial economy. Some infrastructure investments are subject to regulatory establishment of rates, service delivery levels or both. Individual investments generally require capital commitments for a minimum of 15 to 20 years and typically generate consistent annual cash flows; a perfect fit in meeting our long-term pension obligations.
Real Estate
Oxford Properties Group is responsible for executing our strategy of developing a global enterprise in the real estate sector. The strategy focuses on the ownership and management of large-scale assets, diversified by property type and geographic market to achieve superior risk-adjusted returns. Real estate investments of this nature generate reliable cash flows, facilitating our ability to meet current benefit obligations. Furthermore, well managed real estate generally appreciates in value over time in step with inflation, which offsets the inflation exposure of our pension liabilities. Today, Oxford is one of North America’s largest commercial real estate investment and property management companies.
Private Equity
Through OMERS Capital Partners, OMERS will invest up to 10 per cent of its assets in private equity. Private equity is the ownership of equity or equity-like securities in companies that do not generally trade publicly. Our goal is to build a portfolio of investments diversified by geographic market, by industry sector, by size of the company and by type of investment – primarily leverage buyout, venture, and mezzanine debt.
Board Secretariat
The OMERS Board Secretariat provides executive and administrative support to the 14 members of the OMERS Board, including the provision of secretarial functions that document the Board’s decision-making processes at all meetings of the Board and its five Standing Committees. The Secretariat reports to the President and CEO of OMERS.
The following operating divisions report to the Chief Financial Officer:
Finance and Administration Division
The Finance and Administration Division provides essential corporate services to OMERS with respect to financial reporting, administration, planning and technology. These services form the infrastructure support for OMERS key business areas: Pensions and Investments. The Division also plays a very significant role external to OMERS in managing complex relationships with its professional advisors, such as the Master Custodian, and with other plans.
Audit
The Internal Audit department is organized to perform independent assessment activities within OMERS, its legal entities and affiliated organizations. The department provides reasonable assurance to the Administration Corporation Board and management that key organizational and procedural controls are appropriate and operating effectively, and that OMERS policies are being complied with.
Human Resources
Human Resources provides corporate leadership in the management of OMERS intellectual capital - its people. The Division develops, implements and monitors programs and policies aimed at achieving the goals of the organization through the efforts of its employees. Human Resources plays a leadership role in promoting OMERS mission, vision and values. OMERS value statement "We treat each other with respect, fairness, trust and dignity" forms the foundation upon which all Human Resources policies, programs and activities are based.
The following operating divisions report to the Chief Operating Officer:
Pension Division
The Pension Division provides essential front-line services to OMERS members and employers. The span of services includes enrolment of members; maintenance of accurate and up-to-date active member and pension records; the accurate and timely calculation and payment of benefits; and communication of the plan to all concerned. The administration of the plan is done in partnership with participating employers and service level objectives are of the highest standards.
Sponsor and Government Relations
The Sponsor and Government Relations Team have two primary areas of responsibility; Sponsor and Stakeholder Relations and Government and Regulatory Affairs. The Sponsor and Stakeholder Relations function has carriage of OMERS governance reform to effectively implement the structures set out in the OMERS Act, 2006 and to manage the relations between the OMERS Sponsors Corporation and Administration Corporation and the relationships with a diverse array of stakeholder groups. The Government Relations and Regulatory Affairs function ensures OMERS strategic objectives and business interests are represented with the federal and provincial governments and related regulators. It works with governments and regulators to promote legislative and regulatory reform which benefits OMERS and its members. Both functions work closely with all business lines across the OMERS organization.
Legal
The Legal Division provides strategic legal advice to the Administration Corporation Board and to OMERS business units, to ensure that OMERS legal risks are well managed. In addition, the Legal Division will enable better value for money by providing effective control over external legal advice and expenditures. The Division is responsible for proactively identifying the legal issues affecting OMERS strategic direction and its pension and investment businesses. The Division oversees the compliance and subsidiary secretariat functions, the structuring of investment transactions to meet regulatory requirements and any litigation involving OMERS.
Corporate Communications
Corporate Communications provides essential communications support to the organization. The Division develops and implements corporate communications strategies and works with program areas to ensure their communications initiatives reflect corporate goals and messages. The OMERS Annual Report, Report to Members, all employee events and OZONE, our staff intranet, are produced by the division. The division also co-ordinates media monitoring and analysis and is responsible for managing the media relations function.