2024 Committee Composition

For 2024, the OMERS Administration Corporation (AC) Board of Directors (the AC Board) has six standing committees which assist the Board in discharging its responsibilities. The AC Board also uses sub-committees and ad hoc committees from time to time to deal with special situations.

Audit & Actuarial Committee

The purpose of the Audit & Actuarial Committee is to assist the AC Board in meeting its fiduciary oversight and related obligations by overseeing:

• the integrity of the financial reporting process and financial statements;

• funding and actuarial matters;

• the system of internal control and disclosures;

• risk management and risk reporting for risks within the purview of the Committee;

• the internal audit function;

• the external audit and review of AC’s financial statements;

• the organization’s processes for monitoring compliance with policies, laws and regulations and the Code of Conduct and Ethics; and

• whistleblower mechanisms and special investigations.

Chair: Penny Somerville
Members: Susan Arab, Danielle Harrison, Diane Kazarian, Rajiv Silgardo, Kevin Skerrett, George Cooke (ex officio)

Governance & Risk Committee

The purpose of the Governance & Risk Committee is to assist the AC Board in meeting its fiduciary oversight and related obligations in relation to governance, risk, and government relations matters and particularly in relation to AC’s governance principles by identifying governance practices and standards (and supporting processes and practices) that promote and enhance effective Board and Management decision-making to ensure the OMERS Plans are governed and administered in the best interest of its members and beneficiaries.

Chair: Paul Elliott
Members: Karen Figueiredo, Danielle Harrison, Cliff Inskip, David Tsubouchi, George Cooke (ex officio)

Human Resources Committee

The purpose of the Human Resources Committee is to assist the AC Board in meeting its fiduciary oversight and related obligations by overseeing: (i) Chief Executive Officer (CEO) performance and compensation; (ii) a robust succession management process for the position of CEO and Senior Executives; and (iii) strategy relating to attracting, engaging and retaining excellent leadership at the senior executive level who are committed to the AC Mission Statement, Core Values and Leadership Competencies.

Chair: John Armstrong
Members: Bill Butt, Karen Figueiredo, Diane Kazarian, Kevin Skerrett, George Cooke (ex officio)

Investment Committee

The purpose of the Investment Committee is to assist the AC Board with respect to its oversight of investment strategy, risk, policies, and performance, and the approval of large transactions which exceed limits delegated to Management.

Chair: Bill Butt
Members: John Armstrong, Michael Fenn, Cliff Inskip, Rajiv Silgardo, Penny Somerville, Yung Wu, George Cooke (ex officio)

Member Services Committee

The purpose of the Member Services Committee is to assist the AC Board in meeting its fiduciary oversight and related obligations in relation to plan administration and operations (including communications and technology) matters and reviewing plan design and contribution rate proposals and decisions made by SC regarding their impact on the current membership.

Chair: David Tsubouchi
Members: Susan Arab, Paul Elliott, Michael Fenn, Yung Wu, George Cooke (ex officio)

Appeals Committee

The purpose of the Appeals Committee is to assist the AC Board in meeting its fiduciary oversight and related obligations by acting as the final internal appeals body for determinations by the President governing benefit entitlement under the OMERS Pension Plans. The AC Board has delegated authority to adjudicate appeals to the Committee under By-law No. 4. The Committee also assists the AC Board in maintaining a strong administrative law decision-making process by reviewing and making recommendations to the AC Board on changes to the rules respecting practice and procedure before the Committee (the Rules).

Chair: David Tsubouchi
Members: Susan Arab, Paul Elliott, Karen Figueiredo, George Cooke (ex officio)

Joint Council

This sub-committee was formed in 2009 as a venue in which to address matters of importance to either AC or SC with respect to oversight and governance of the OMERS Pension Plans including the Memorandum of Understanding between AC and SC.

Members: George Cooke (Board Chair), Paul Elliott (Chair, Governance & Risk Committee), Penny Somerville (Chair, Audit & Actuarial Committee)