For 2012, the OAC Board has five standing committees which assist the Board in discharging its responsibilities. The OAC Board also uses Sub-Committees from time to time to deal with special situations.
The purpose of the Investment Committee is to enable the OAC Board to meet its fiduciary oversight and related obligations in relation to the OAC’s investment policies and strategies and to enable the OAC Board to discharge its related monitoring, compliance and risk mitigation oversight responsibilities on behalf of the OAC Board. The Investment Committee also approves all major transactions.
Chair: Bill Aziz Vice Chair: Richard Faber Members: Committee of the Whole
The Audit Committee assists the OAC Board in fulfilling its oversight responsibilities for the:
Chair: Jim Phillips Vice Chair: John Sabo Members: Monty Baker, David Carrington, Eugene Swimmer, Rick Miller (ex officio)
The Governance Committee annually reviews the mandates of the OAC Board and its Committees. It has oversight of the OAC Board Orientation and Education Program and annually approves the composition of the Committees. This includes arranging and implementing an annual assessment of the full OAC Board and individual Directors; recommending changes to the OAC Board to address effectiveness issues arising out of the assessments; assessing the competency requirements of the OAC Board and recommending skills and experience needs for the Board. The Committee is also responsible for reviewing relevant policies relating to governance including external communications standards.
Chair: Leslie Thompson Vice Chair: Laurie Nancekivell Members: Fred Biro, Sheila Vandenberk, John Weatherup, Rick Miller (ex officio)
The purpose of the Human Resources Committee is to assist the OAC Board in meeting its fiduciary oversight and related obligations by:
Chair: David O’Brien Vice Chair: John Weatherup Members: Bill Aziz, Richard Faber, Jim Phillips, Rick Miller (ex officio)
The Member Services Committee assists the OAC Board in meeting its fiduciary oversight and related obligations in relation to Plan funding and administration policies and strategies, and in discharging its related monitoring, compliance and risk mitigation responsibilities. It is not the intent of the Member Services Committee to detract from the roles and responsibilities of other bodies, such as the OAC Audit Committee or the Sponsors Corporation, but rather to ensure oversight of management activities in key pension activities. Where relevant or appropriate, work product of OAC Management or the Committee can be presented or discussed with OMERS Sponsors Corporation or other bodies such as the AC/SC Joint Council or the Plan Design and Information Committee of the SC.
Chair: Sheila Vandenberk Vice Chair: Eugene Swimmer Members: Monty Baker, Fred Biro, Laurie Nancekivell, Rick Miller (ex officio)
This Sub-Committee serves as an appeal tribunal for Plan members who are appealing decisions of the President and CEO (or his delegates) regarding their pension benefit entitlements. This Sub-Committee hears evidence and renders decisions in these appeals. It retains independent external counsel to assist it in its deliberations.
Chair: David Carrington Vice Chair: Fred Biro Members: Eugene Swimmer, David O’Brien (alternate), Sheila Vandenberk (alternate)
This sub-committee was formed following the execution of the Framework Agreement with the SC in 2009 as a venue in which to address matters of importance to either party with respect to oversight and governance of the OMERS Pension Plans including the Framework Agreement.
Chair: Richard Faber Members: Bill Aziz, Rick Miller, David O’Brien