Recruitment posting
Alberta Investment Management Corporation
Competition #: 501
Ministry : Treasury Board and Finance
Opening Date : 2017/11/03
closing Date : 2017/11/24
Role : Board Public Member(s)
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 member of the Alberta Investment Management Corporation (AIMCo) Board of Directors (Board).
AIMCo was established in 2008 as a Provincial corporation and is committed to the highest standards of corporate governance. AIMCo’s mandate, as set out stipulated in the Alberta Investment Management Corporation Act (AIMCo Act), is to provide investment management services to 32 designated entities that include 32 Alberta-based Pension Plans, the Alberta Heritage Savings Trust Fund, other Endowment Funds and Government Accounts, representing assets under management in excess of $90 billion. All AIMCo Board Members are fully independent of management.
The AIMCo Act sets a maximum of 11 Members to be appointed to the AIMCo Board. The Lieutenant Governor in Council appoints AIMCo Board members, and designates the AIMCo Board Chair from among its Board Members.
AIMCo’s Board is responsible for electing a Vice-chair from among its Board Members, as it is not an Order in Council or Ministerial Order appointment.
In accordance with the AIMCo Act, the Board is responsible for overseeing the management of the business and affairs of AIMCo. Oversight accountability rests in many areas, including:
- Investment Strategy;
- Risk Management;
- Strategy and Planning;
- Policy and Governance;
- Client and Stakeholder Relations; and,
- Organizational Performance and Accountability.
The Board has established four standing committees, which assist the Board in discharging its responsibilities.
- The Investment Committee oversees and considers the investment activities, risk management and operations of AIMCo, reviews investment and risk-related reports from management, and votes on specific investment-related matters.
- The Audit Committee oversees financial reporting processes, development and implementation of internal audit and financial control policies, and compliance with said policies and applicable laws and regulations.
- The Governance Committee oversees the policies, processes and procedures that comprise AIMCo’s corporate governance framework. This includes overseeing terms of reference for the Board and each Board committee, conducting Board evaluations, and generally ensuring the principled, effective continuing operation of the Board.
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The Human Resources and Compensation Committee oversees the human resources strategy, philosophy and policies of the Corporation and offers insight to ensure these are aligned with corporate objectives. The Committee similarly reviews organizational structure, management development and succession, and compensation practices with the support of an external consultant, who is accountable to Human Resources and Compensation Committee.
As set out in the Alberta Investment Management Corporation Regulation (Alberta Regulation 225/2007), a Board member may be appointed for a term up to three (3) years, with the potential for reappointment, subject to a maximum of ten (10) years of consecutive service.
AIMCo is seeking an individual(s) to serve as a Board Member(s) who are fully informed on matters related specifically to AIMCo’s mandate.
Applicants must have experience that contributes significantly to the following qualifications and experience:
- deep financial experience, ideally including deal structuring, investing, and sufficiently strong asset management knowledge to be able to engage with AIMCo’s clients;
- highly sophisticated investment decision making expertise, and a strong understanding of financial markets (public and private), defined benefit pension arrangements and ideally sovereign/endowment structures;
- experience with risk management and governance, both enterprise and investment;
- direct investment or operating experience in large, capital-intensive infrastructure, real estate or private equity investments or assets;
- considerable board and/or executive business experience; and,
- clearly demonstrates personal qualities of integrity, credibility and passion for exceeding the expectations of AIMCo’s stakeholders and ultimate beneficiaries.
AIMCo and its Board recognize and fully support the principles of diversity and inclusion.
Remuneration rates are set by the Alberta Investment Management Corporation Act Remuneration Regulation (Alberta Regulation 167/2007).
Remuneration includes an annual retainer and meeting honorarium. The annual base retainer for a Board Member is $20,000/year. Board Members also receive a fee of $1,000/meeting for Board and Board committee meetings.
Travel expenses for attendance at Board meetings are reimbursed as per AIMCo expense guidelines.
AIMCo's Board meets five times per year, plus ad hoc Board committee meetings as required. Board meetings are held in Edmonton, Calgary or Toronto.
In addition to your cover letter and resume, we require a biography. Click HERE to download form.
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.
For additional information on this opportunity, please contact:
Ms. Angela Fong, Chief Corporate & Human Resources Officer
Alberta Investment Management Corporation
Telephone: (780) 392-3600 E-mail: angela.fong@aimco.alberta.ca
1100, 10830 – Jasper Avenue Edmonton, Alberta, T5J 2B3
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 4 line biography using the Biography template found under additional documents section. Your biography should include your name, current work experience, board/committee experience and relevant education. 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, and position title.