Meeting Summary

Governance Committee – August 15, 2018

2019 Gap Analysis

The OAC Board Competency Framework, which is comprised of 12 competencies, reflects OMERS unique and specific needs based on its strategy and organizational structure.  The Competency Framework works in tandem with the Skills Matrix, which maps those competencies to specific Directors and in doing so identifies specific competencies in which the OAC Board may need to increase its capacity.  This “gap analysis” is then communicated to the SC in advance of its process of making renewal and replacement decisions.

To initiate the process, all Directors reviewed their previous year’s self-assessment and advised the Committee if any changes were required.

Following a discussion of individual Director competencies and proposed amendments, the Governance Committee approved the skills assessment provided by each of the OAC Board members with such amendments as determined by the Governance Committee. The Governance Committee also authorized and directed the OAC Board Chair and the Chair of the Governance Committee to communicate with the OMERS Sponsors Corporation regarding preferred qualifications for appointments to be made to the OAC Board effective January 1, 2020, as described in the Competency Framework.  Any feedback from the SC on such communication would be reviewed by the Governance Committee and the OAC Board.