SEARCH PROFILE EXECUTIVE DIRECTOR CO-OPERATIVE SUPERANNUATION SOCIETY PENSION PLAN. Greg Fieger, Partner x501

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1 SEARCH PROFILE CO-OPERATIVE SUPERANNUATION SOCIETY PENSION PLAN Greg Fieger, Partner x501 Debbie Tarr-Sentes, Search Manager x503

2 THE ORGANIZATION The Co-operative Superannuation Society Pension Plan ( the Plan ) is one of Canada s largest and oldest defined contribution pension plans. Serving as administrator and fund holder of the Plan is the Co-operative Superannuation Society ( the Society ), a non-profit corporation incorporated on a membership basis by a private act of the Saskatchewan legislature in Membership in the Society is limited to Canadian co-operative and credit union employers, their subsidiaries, and their current and past employees. As a member-controlled, democratic organization, the Society has grown to serve over 360 co-operative and credit union employers across eight provinces and territories, holding approximately $4 billion in assets on behalf of its members. This includes a segregated portfolio containing the backing assets to support more than 6,000 internal annuities. At the beginning of 2015 there were 43,345 members (20,448 active members, 16,123 inactive members and 6,774 retirees) of the Society. Under its bylaws, the Society s governance is placed in the hands of 36 delegates 18 appointed by the Society s employer members and 18 elected and appointed by and from the Society s employee members. The delegates in return are eligible to be elected as Directors of the Society Board. The Society s Board is comprised of six Directors, three who represent employers and three who represent employees. The three employee Directors are nominated from a pool of delegates that includes: contributing employee delegates, retiree delegates and one non-contributing employee delegate. The three employer Directors are nominated from a pool of delegates that represent: retail / wholesale co-operatives, credit unions and other co-operatives. The Society s Board is responsible to hire the Plan s Executive Director, with Directors providing governance oversight and strategic direction. The Society s Mission is: to provide competitive, value-added retirement products and services through a democratically controlled organization for the benefit of its members. The Society s Vision is: to be the preferred pension plan for Canadian co-operatives and their employees. The Society s Values support member focus in Plan decision-making: service, fairness, integrity, accountability and transparency. Key objectives for the Society and Plan include: maintaining a strong member focus; the provision of practical retirement solutions; earning competitive investment returns; prudently managing risks; communicating openly and understandably; meeting and exceeding applicable regulatory standards; maintaining a position of leadership and influence in the pension sector; attracting and retaining qualified and committed employees, suppliers and consultants; and to control expenditures. The Society governance structure and the strategic intentions reflected above, emphasize a strong focus on the best interests of members. This focus on members, typical within the co-operative sector, is arguably a competitive differentiator within the pension sector. The Plan has established solid returns across its four available funds (Balanced, Equity, Bond and Money Market), doing so in an efficient manner as reflected by its low Management Expense Ratios. The Society s unique value proposition and market position present an ongoing opportunity to increase its penetration of credit union and co-operative organizations across Canada who, as of yet, have not made the decision to join as members. The Plan s team, in support of its Executive Director, is comprised of approximately seventeen very talented, dedicated individuals who work hard to achieve enhanced levels of service and Plan performance for members. Members of the team also work to ensure compliance with legislation while assessing and devising strategies to prudently manage risk. In addition to effective stewardship over the investment of members pension funds, each year the Plan s small team strives to enhance the quality, effectiveness and efficiency of the Plan s daily operations as administrator, fund holder, record keeper and benefit provider for Plan members. A significant differentiator within the DC pension sector are two internal retirement income options, available to members at retirement. Recently, the long-serving Executive Director of the Co-operative Superannuation Society Pension Plan notified the Board of Directors of his intention to retire after the 2016 fiscal year. If you embrace co-operative values and philosophy and aspire to advance your career within the Canadian pension industry, we invite you to explore your fit with the unique career opportunity outlined in the remainder of this document. For further information about Cooperative Superannuation Society Pension Plan, please visit their website at PRIVATE & CONFIDENTIAL 2

3 Executive Director Reports to: Direct Reports: Indirect Reports: Board of Directors Investment Manager, Member Services Manager, ICT Manager, Communication Manager, Accounting Manager, Senior Administrator Eight Location: Saskatoon, Saskatchewan MANDATE Responsible to the Board of Directors for the development and implementation of the Board s strategic vision and the direction and coordination of all elements of the operations KEY ACCOUNTABILITIES Governance Support: Ensure the Board of Directors has all the information and resources necessary to properly and efficiently exercise its responsibilities as Plan fiduciaries and trustees. Using various approaches and methods, ensure that the interests of members are understood and that Plan strategic direction and operational priorities are appropriately informed by this understanding. Serve as the Secretary Treasurer to the Board. Responsible as Secretary for assuring proper recording of agendas, minutes, books, records, papers and the seal of the Society; responsible as Treasurer to take nominal charge of and ultimate responsibility for all monies and securities held by the Society. Strategic Leadership: With senior management assess opportunities and challenges facing the Society, and with participation by directors, develop a strategic plan for Board approval. Set the tone for the standards and principles the Plan will adhere to in attaining its strategic objectives. Through senior management and the Society team, implement the Board approved strategic plan and provide regular reports to the Board on its implementation. With senior management assess, identify and monitor risk to the Society and the attainment of its objectives. Oversee the establishment of a plan to manage the risk and ensure proper internal, financial, business and system controls are in place to mitigate risks consistent with the approved risk profile. Stakeholder Relationships: Establish and maintain positive relationships with the Plan s major stakeholders and with members. Establish and maintain positive relationships with pension regulators, advancing the Plan s interests and keeping current with legislative and regulatory changes. Participate actively in an appropriate professional organization which tracks new developments and legislative changes affecting the pension sector. (e.g., Association of Canadian Pension Management) Serve as the primary spokesperson for the plan, consistently presenting the Plan in a strong, positive manner. Operational Leadership: Provide oversight to the development and implementation of an investment strategy, consistent with the Plan s Investment Policy approved by the Board that strives to achieve satisfactory net return on assets under administration within approved levels of risk. PRIVATE & CONFIDENTIAL 3

4 Oversee the effectiveness of the Plan s financial structure, including the annual budget, in the context of strategic and investment plans; with senior management establish and maintain appropriate standards for all financial, management, and regulatory reporting (including audit, Board and regulatory authority requirements). Ensure delivery of strategic initiatives, enabling senior managers and team members to achieve objectives, deliverables and work-plans within specified timelines and approved budgets. Through senior management, create annual operating plans and budgets that support the approved strategic direction to the Board for approval. Through senior management, develop and implement operational policies to guide the Plan within the directions / parameters adopted by the Board and compliant with legal and regulatory requirements. Foster a culture that reflects the Plan s values. Ensure the Plan has an approved People Strategy and progressive policies to attract, develop, motivate, retain and reward high-achieving, service-oriented managers and team members. Ensure the work environment is constructive and managed in compliance with all applicable laws and regulation. OPPORTUNITIES AND CHALLENGES Build on the strong foundation provided by a seventy-five year legacy to further advance the reputation of and respect for the Society. Leverage the strength of the member focus philosophy and business model to promote the Plan s valueproposition to Canadian credit union s and co-operatives by engaging and educating Chief Executive Officers and other appropriate executives including Chief Human Resource Officers with the objective of gaining them and their employees as members. Lead the senior management and team members to further innovate and implement programs and services that encourage retiring / retired members to keep their financial assets with the Plan. Continue to build the internal capacity and capability of the Society team to enable the capture of future opportunities and the resilience to weather future challenges. ATTRACTIONS Exchange the pursuit of profit and shareholder value for the betterment of member s lives in their retirement. Engage with executive leaders of a vibrant, dynamic segment of Canada s economy who approach doing business in a manner congruent with co-operative principles. Take pride in working with and mentoring a team that is highly committed to their work and the positive impact they have on the future well-being of their members. Enjoy the quality of life provided by one of Canada s fastest growing cities; find balance - as you define it- in a community that provides significant opportunity for volunteerism, fun family time and diverse activities for all interests. Be a leader in your community, within the Society membership and across the Canadian pension landscape. FIRST YEAR DELIVERABLES / MEASURES OF SUCCESS Success in the first year will be determined by the Position s ability to: Build strong, positive relationships and followership among the Society membership, with the Board and the Society team. Beginning to have an impact on the performance and future direction of the Society by influencing strategic thinking, operating practices and innovation. PRIVATE & CONFIDENTIAL 4

5 Shaping a point of view regarding the Society organization capabilities and capacity required to support its future success; evidence of effective change leadership skills. Evidence of a cohesive, united team who trust and respect the Executive Director as a leader Strong impression among members as an effective, trusted leader. CANDIDATE PROFILE The successful candidate will have the following: EDUCATION: EXPERIENCE: Minimum requirement is a university degree in a related field. Post-graduate degree in business is desirable. Extensive and progressive experience as an effective strategic leader, manager and advisor in a complex, multi-stakeholder environment reporting to and working with a Board of Directors. Experience with pensions and / or benefits at a senior level preferred; Deep and practical understanding of the retirement income industry which the Society is a part. The successful candidate will have an understanding of, ideally direct experience with, the co-operative / credit union system and the underlying democratic processes associated with their governance. COMPETENCIES & ATTRIBUTES: *Strategic agility *Business acumen *Communication/interpersonal skills *Managing vision and purpose *Perspective THE COMPENSATION An excellent compensation package awaits the successful candidate. Under Canada's Anti-Spam Legislation, Conroy Ross Partners requires your consent to provide you with information via that is relevant to you. This may include electronic communications in regards to job opportunities that you are pursuing. Please click the following link in order to access and complete our online subscription form: Suite 1330, Fortis BC Centre 1111 West Georgia Street Vancouver, BC V6E 4M Bow Valley Square Avenue SW Calgary, AB T2P 2V7 720 Manulife Place Street Edmonton, AB T5J 3S4 403 The Leader Building 1853 Hamilton Street Regina, SK S4P 2C1 T F T: F: T: F: T: F: Telus Tower 25 York Street, Suite 1803 Toronto, ON M5J 2V5 190 O Connor Street 7th Floor Ottawa, ON K2P 2R3 2 Place Alexis-Nihon, Suite 1100 Montreal, QC H3Z 3C Laurier Boulevard, Suite 6200 Quebec City, QC G1V 4K5 T: F: T: F: T: F: T: F: O PRIVATE & CONFIDENTIAL 5

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