Nominations for Foresters Board of Directors
Call for candidates for nomination to the Board
The Board is responsible for the stewardship of Foresters and its business and fraternal affairs. It oversees and supervises the strategic direction and management of the organization, mandates that good internal control processes are in place to ensure the transparency and integrity of financial reporting and ensures that we conduct Foresters business and fraternal affairs in accordance with Foresters Constitution and in compliance with all applicable laws and regulations.
The current Board was elected in June 2017 and will serve until June 2021.
Composition of the Board
Foresters Board has 15 members, including the International Fraternal President, and President and CEO. All members are elected except the CEO who is a member by virtue of his or her office. Eight Board members are Canadian residents as required by Canadian law1.
Foresters Board has 10 members with primarily senior business experience and five with primarily fraternal experience. The proportion of business to fraternal members has been established with the input of Foresters regulators and is necessary to meet the corporate governance standards for financial institutions in Canada, the United States and the United Kingdom.
We will maintain this proportion of business to fraternal members on the Board elected in 2021.
The Nominating Committee, appointed by the Board in February 2020, will recommend to the Board candidates for director positions as well as the International Fraternal President.
The Nominating Committee is seeking qualified candidates for nomination to the Board.
The requirements are listed below:
- Board nominees must be voting members of Foresters
- The majority (8 out of 15) must be Canadian residents
- Nominees must have sufficient time for Board and committee duties (approximately 20 to 30 days, including preparation time and continuing education, per year to attend in person four or five sets of meetings a year)
- Background and skills should include senior business and/or fraternal experience in the areas of:
- Financial Expertise e.g. CFO*
- C-Suite/Broad Business Experience*
- People Leadership*
- Strategic Planning*
- Business Transformation/Change Management*
- Information Technology/Cyber Security
- Legal, Regulatory Compliance and Governance
- Life Insurance Operations
- Marketing, Human Resources, or Communications
- Mergers and Acquisitions
- Risk Management
- Sales and Distribution
- Strategic Planning
- Volunteer and Fraternal management
- Personal qualities include the ability to:
- Put forward ideas while respecting the views of others
- Analyze proposals put forward by management clearly and critically
- Probe management proposals assertively and knowledgably
- Communicate ideas clearly and actively participate in discussion
- Understand the fundamental and strategic needs of the organization in the current environment
- Act in the best interests of all members of Foresters
- Understand the balance between the Board’s and management’s role
- Demonstrate alignment with Foresters fraternal purpose
How you can apply – or nominate a candidate
We invite all Foresters members to propose suitable nominees for the Board.
The deadline for submission of applications is September 30, 2020.
All applications will be acknowledged, but only suitable candidates will be interviewed.
The Nominating Committee will review all applications and interview only those with the stated qualifications. It will report its recommendations to the Board in May 2021.
Download the Board of Directors Candidate Application here
How to contact us
If you are a Foresters member interested in being considered as a director, or if you know a qualified candidate, please contact:
789 Don Mills Road
Toronto ON M3C 1T9