Recruitment posting
Alberta Securities Commission
Competition #: 340
Ministry : Treasury Board and Finance
Opening Date : 2016/12/13
closing Date : 2017/01/10
Role : Public Member
It is recognized in Alberta as a fundamental principle and as a matter of public policy that all persons are equal. Diversity and inclusion are valued and supported on the boards of Alberta's public agencies.
The President of Treasury Board and Minister of Finance is seeking applications from individuals interested in serving as a public member of Alberta Securities Commission (ASC).
The ASC is the industry funded regulatory agency responsible for administering the province's securities laws, including the Securities Act (Alberta), the Securities Regulation and the ASC Rules. It is entrusted with fostering a fair and efficient capital market in Alberta, and with protecting investors. The ASC regulates all securities-related activity in Alberta, either directly or indirectly through self-regulatory organizations.
As as member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize securities the regulation of Canada's capital markets.
ASC independent (part-time) Member responsibilties include:
- identifying appropriate governance processes to assist in fulfilling the ASC's mandate;
- playing a key role in determining policy;
- considering and approving new rules;
- considering recommended changes to the Securities Act and Regulations;
- granting discretionary exemptions from the requirements of securities laws;
- conducting hearings into matters that affect the public interest in Alberta's capital market; and,
- governing the management and business affairs of the ASC, including the approval of the strategic plan, annual business plan and operating budget.
The ASC Board has established three Member Committees - Human Resources, Audit and Governance. Each independent Member also serves on one of the ASC Member Committees.
Independent Member appointments are made by Order in Council, for a fixed term up to three years, with the potential for reappointment.
Applicants must have a strong background in the securities industry, with senior level experience in one or more of the following areas:
- public accounting;
- securities laws;
- public company mangement;
- investment banking;
- fund management;
- retail client advisory; or
- portfolio management.
Experience and knowledge of the structure and functioning of the Alberta and other Canadian capital markets.
Experience dealing with legal or accounting issues relevant to public companies.
Adjudicative experience, prior board service, and experience in public company governance are considerable assets.
Analytical skills and the ability to take complex information and diverse points of view into consideration in making and writing sound decisions.
Superior communication and interpersonal skills with a common sense approach, sound judgment, and a reputation for demonstrating integrity, accountability, adaptability and excellence.
Related post-secondary education and a professional designation are desired.
Section 14 of the Securities Act provides for the remuneration of the Chair, Vice-chairs and (independent) Members to be set by the ASC in accordance with any applicable regulations under the Alberta Public Agencies Governance Act.
An ASC independent Member receives compensation, including fees paid for governance responsibilites and hearing and application panel participation. Independent Member fees include:
| Annual retainer | $10,000/year |
Committee member (excludes Audit Committee) retainer | $2,500/year |
Audit Committee member retainer | $4,000/year |
Committee chair (excludes Audit Committee) retainer | $5,000/year |
Audit Committee chair retainer | $8,000/year |
Meeting attendance fee | $1,000/day for an ASC Member meeting and $750 for a Committee meeting |
Hearing fees (excludes Panel Chair) | $1,500 per hearing day: and, $200/hour of related preparation, review and decision writing |
Hearing fees (Panel chair) | $2,000 per hearing day: and,
$250/hour of related preparation, review and decision writing
|
Members are compensated for travel time, in addition to out-of-pocket expenses as per ASC Staff Policies.
Compensation is currently under review.
In Fiscal 2016, the average independent Member compensation was approximately $55,000.
ASC Members usually meet on a monthly basis. ASC Members Committees meet on regularly scheduled dates throughout the year and on an ad hoc basis as required.
In addition, ASC independent Members can sit on hearing panels. Hearings can be as short as one day, or as long as a number of years, but typically extend for one to three weeks. Hearings are typically held in the ASC’s office in Calgary, and although scheduled well in advance, are subject to adjournment and settlement at unpredictable stages of the proceedings.
For additional information on this opportunity, please contact:
Executive Search, Corporate Human Resources
Phone: 780 408-8460
E-mail: executivesearch@gov.ab.ca
Carefully read the Recruitment Posting and the Position Profile to ensure this is an appropriate opportunity for you. Applicants are advised to provide information that clearly and concisely demonstrates how their qualifications meet the advertised requirements.
Online applications are preferred. To apply, click on the 'apply' button, create or sign into your account in the ePAAS system; upload your resume, view the listing under Current Opportunities and click on 'submit application'. The uploaded resume will be automatically attached.
Provide a short (maximum 200 words) biography using the Biography template found under additional documents section. Your biography should contain general information about your education, experience, community involvement, skills, etc. Please note that biographies may be edited for length and clarity.
Once your biography and other required form(s) are completed, save it to your PC. When you hit 'submit application', you will be prompted to upload additional documents. Drag and drop (or upload) your completed cover letter, biography and other form(s) into the 'Drop files below or click to upload' section before clicking the 'apply' button.
If you are unable to apply online, please submit a cover letter and resume, quoting the recruitment posting competition number, to the contact provided on the posting. We thank all applicants for their interest. All applications will be reviewed to assess which candidates' qualifications most closely match the agency's requirements. Only those selected for interviews will be contacted to advance to the next step in the appointment process. You can check the status of each competition on-line at https://www.alberta.ca/public-agencies.cfm.
All potential candidates will be screened for potential conflicts of interest. Please Note: Successful applicants will have the following information about them made publicly available on the Public Agency Secretariat Website: name,biography, public agency, position appointed to.