FMB BOARD APPOINTMENT PROCESS

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1 FMB BOARD APPOINTMENT PROCESS The First Nations Financial Management Board (FMB) is managed by a board of directors consisting of a minimum of nine and a maximum of thirteen directors, including a Chairperson and a Vice- Chairperson. The board of directors shall be composed of men and women from across, including members of First Nations, who are committed to the strengthening of First Nations financial management and who have the experience or capacity to enable the Board to fulfill its mandate. The Governor in Council (GiC), on the recommendation of the Minister, shall appoint a Chairperson and a minimum of five, and a maximum of nine other directors, to hold office during good behavior for terms not exceeding five years, subject to removal by the GiC at any time for cause. Directors may be re- appointed for a second or subsequent term of office. In determining the term of appointment of directors, the GiC shall endeavor to ensure that the terms of no more than three directors expire in any one calendar year. The Aboriginal Financial Officers Association of Canada (AFOA), or any other body prescribed by regulation, shall appoint up to three additional directors to hold office during pleasure for a term not exceeding five years. GiC opportunities may be found on the GiC Appointments web site ( nominations.gc.ca). Interested candidates should ensure that their applications clearly outline how their education, experience, knowledge and abilities meet the requirements of the position advertised. The Minister of Aboriginal Affairs and Northern Development and his Office work with FMB when establishing the selection criteria for FMB GiC appointments. FMB has developed the following board member Competency Matrix to support this selection process. To learn more about submitting your name for consideration for appointment to the FMB Board, please feel free to contact the Senior Manager, Legal and Corporate Services (shayla_point@fnfmb.com). 1 P age

2 Competency Matrix CORPORATE GOVERNANCE PRINCIPLES & PRACTICE None Some Extensive Public Sector Board Level Directorship Experience Private Sector Board Level First Nation Council Level Performance Management Human Resources Executive Management Training Plan Development Succession Planning Development PUBLIC SECTOR/INDUSTRY EXPERIENCE None Some Extensive Statutory Instruments Public Policy Policy Development Community Engagement Law Government Aboriginal Law Corporate Financing Federal Provincial Municipal Administration (Management) Economic Development First Nation Experience Local Government negotiation Taxation Lands Management FINANCIAL EXPERTISE None Some Extensive Financial Reporting Risk Management Internal Control Development Financial Management Internal Control Implementation Financial Statement Preparation Performance Measurement Securitization Corporate/Public Finance Lending Capital Investment BUSINESS ACUMEN None Some Extensive Business Case Analysis Entrepreneurial Experience Business Experience Marketing and Communications Strategic Planning Technology 2 P a g e

3 Competency Matrix Example Definitions Guidelines for use: These definitions are intended to provide examples in each sub category to assist in completing the matrix. The examples are not all inclusive therefore should not be read narrowly. Some Experience refers to any practical experience or training in a sub-category. Extensive Experience refers to more specialized experience or at least 5 years practical experience in a sub-category. I. Corporate Governance Principles and Practices: The set of processes, customs, policies, and laws affecting the way a corporation is directed or controlled: Directorship Experience: Public Sector Board Level includes any elected or appointed position to a government organization. Private Sector Board Level includes any non-government board position. First Nation Government includes experience as a First Nation Council member. Human Resources: Performance management includes experience developing or applying a performance management policy for a corporation or government institution. Executive Compensation- experience setting executive compensation for CEO and/or senior management. Training development plan- implemented or developed training plans for board and management. Succession plans experience developing or applying succession plans for senior management. II. Public Sector/Industry Experience: Federal, Provincial, Municipal or First Nation experience: Public Policy Statutory Instruments Experience pertaining to interpretation of or drafting of statutory instruments. 3 P a g e

4 Law Policy development Political and/or bureaucratic experience with the policy development process for federal, provincial, or municipal government. Community engagement- worked with stakeholders/constituents through policy papers, workshops, etc. Aboriginal Law experience pertaining to aboriginal legal issues as a policy analyst or legal counsel. Corporate experience in interpreting and applying laws, rules, guidelines and procedures with respect to shareholders, directors, employees, and creditors. Financing experience in the field of public or corporate financing. Government Federal worked with or in the federal government system. Provincial worked with or in the provincial government system. Municipal worked with or in the municipal government system. First Nation Experience Administration (senior management) (CEO,COO, CFO) or equivalent of a First Nation, First Nation institution or other practical experience pertaining to First Nation administration. Economic development worked with First Nations on the implementation of an economic development project. Local Government negotiation/relationships worked on negotiating and/or managing local government service agreements/relationships. Taxation worked with the implementation or management of a First Nation taxation regime. Lands Management experience pertaining to First Nation s Lands management (i.e. dealing with the First Nations Lands Management Act. III. Financial Expertise: An understanding of Accounting Standards and financial reporting with knowledge in current financial management issues: Financial Management Financial Reporting experience pertaining to preparation or reviewing GAAP/PSAB financial reporting. 4 P a g e

5 Risk Management experience on dealing with the identification, assessment and prioritization of risks of an organization. Internal control development experience in dealing with an organizations internal control environment (i.e. development of internal policy and procedures) Financial statement preparation experience in the preparation or review of financial statements. Performance Measurement experience in creating, reviewing, evaluating or monitoring performance measures of an organization. Includes experience in auditing /attestation. Corporate and Public Financing Securitization transactional experience pertaining to financing through the capital markets. Lending experience pertaining to financial institutional loans or credit analysis. Capital investment experience in project finance. IV. Business Acumen: An understanding of the financial accounting, marketing and operational functions of an organization with the ability to make good judgment and quick decisions. Business Experience Business Case Analysis experience in writing submissions or decisions that pertain to business case analysis. Entrepreneurial Experience business owner or manager. Marketing development or implementation of a marketing/communication strategy. Strategic Planning experience pertaining to an organization s process for defining and implementing corporate strategy. Technology knowledge or experience in current information technology including systems architecture and software applications. 5 P a g e