Meeting Summary

Governance Committee - November 15, 2017

Competency Framework and Skills Matrix

At its August 2017 meeting, the Board approved a new form of the Competency Framework and directed the Governance Committee to evaluate self-assessments prepared by each OAC Director for the purpose of completing a Skills Matrix identifying the top five competencies of each Director and, by extrapolation, the competency gaps for the Board as a whole.

The Committee conducted its first review of the self-assessments and Skills Matrix at a special meeting held on August 29, 2017, followed by additional discussions with several individual Board members to clarify various aspects of their self-assessments.

The Governance Committee considered an updated Skills Matrix based on those discussions. Following discussion, the Committee approved the amended Skills Matrix.

The Committee also recommended a resolution to the OAC Board to approve the updated Competency Framework, reflecting comments from the OMERS Sponsors Corporation.

Governance Manual and Governance Handbook for 2018

The Governance Committee’s mandate authorizes the Committee to approve the form and content of a Governance Manual and Governance Handbook on an annual basis. 

Only one substantive change was recommended – the addition of the Risk Oversight Committee Mandate to the Manual.

Following discussion, the Governance Committee approved the revised Governance Manual and the Governance Handbook and authorized the Corporate Secretary to make future editorial changes as required.  OMERS practice is to post the Governance Manual on its public website.  The Handbook is an internal reference tool for directors and management personnel.