Develop a game plan

Take control of your (director's) career

Many first time directors found their way onto boards through a structured and vigorous search strategy that began with director certification. 

If you are considering this route to start your climb into a corporate directorship, consider these 3 key elements:

• certification through an organization which offers
• the opportunity for networking and the presence of an alumnus which encourages networking and is
• affordable. 

ICSA's Director Education and Accreditation Program (DEAP) provides all these elements. In 2010, David Miriguay, ICSA's Director of Education (Canada) considered the advantages of DEAP compared to other Canadian offerings in the following areas:

• teaching/learning activities/delivery method
• objectives/goals& topics
• benefits/value add
• price
• pre-assessment procedures
• evaluation/assessment methods
• expertise of instructors
• recognition of program
• partners/sponsors

DEAP's 4 module program leads to an accredited director designation, an affiliate membership, access to ICSA's topical webinars, membership in one of its across Canada chapters and a link to 45000 members world wide. The course work covers principles of governance, financial reporting, enterprise risk management and strategy. While other programs benchmarked against DEAP cost between $20k and $30k, DEAP cost $3500. So, as a program for entry level directors, this provides good value. 

There are programs in addition to DEAP, targeting women aspiring to become directors.

• OnBoard Bootcamp www.onboardbootcamps.com
• Women Corporate Directors which offers best practice updates and networking opportunities www.womencorporatedirectors.com
• The Susan Schiffer Stautberg Leadership Foundation which identifies and grooms high potential female directors www.thetaras.org/ssf.htm

Tomorrow I will provide another arrow to add to your quiver as you seek to advance your career as a director. 

Your pension Board and Transparency

How forthcoming is your Board? Do you know who they are and how to get in touch with them? Do they answer your questions? 

There can be nothing more anxiety provoking. 

Granted, the NBPSPP has, as an entity, only been operating for a few years. However....

A review of its annual reports provides some information about how the Board is managing the business of your pension. We know, for example that it performed at about 7.5% last year.
The problem is, without a comparator, we don't know if that is good or bad.
OMERS and HOOPP , for example, perform much (much) better in this bull market. 

NBSPP provides: 

• the plan text,
• its funding policy,
• the statement of investment policies,
• an agreement and declaration of trust and
• a memorandum of understanding between the province and the unions. 
• In the annual report of 2015, it was reported that there is a code of ethics and business conduct, a disclosure policy, an orientation and education policy and guidelines for the nomination of trustees. 

The Problem here is, there is no where to access these policies. Nor do we know how to get them. 

These policies are all well and good but, there are other policies which might be of assistance. These include:

• a policy about board skills and effectiveness
• a policy about the board's role in financial oversight and stewardship
• a policy about strategic planning
• a policy on succession planning
• a policy outlining how the plan is valued and administered. 
• a policy about board education
• board evaluation. 

And we haven't got to the good stuff yet like : lobbying, communication, external auditor independence, financial disclosure, personal trading and anti bribery and corruption.

To the Board's credit, they will be up loading a website sometime in 2018. Lets see how it is populated, how complaints and queries are managed and who actually speaks on behalf of the plan.