See the biographies for all of our Directors.
Governance Principles and Responsibilities
The Board continually reviews its corporate governance practices to ensure they reflect the highest level of oversight, independence and accountability our members and stakeholders expect and deserve. BlueShore Financial meets or exceeds the principles and standards set out in the BC Financial Services Authority (formerly Financial Institutions Commission) Governance Guideline, which ensures strong governance and risk management practices.
The primary responsibilities of the Board are to:
- Approve and monitor BlueShore’s adherence to its risk appetite
- Approve and monitor BlueShore’s strategic plan and performance
- Ensure BlueShore’s risk governance framework is comprehensive, adequately resourced, forward looking, strategic, effective, diligently monitored and communicated
- Assemble an effective management team. This includes selecting a CEO, monitoring the CEO’s performance towards achieving mutually established objectives, and planning for the CEO’s succession
- Demonstrate accountability to BlueShore’s members and promote disclosure to allow members to engage with BlueShore as owners.
Directors adhere to Code of Ethics and Conflict of Interest policies, which are reviewed regularly to ensure they reflect current best practices. Striving for continuous improvement, in 2020, the Board updated its internal Succession Guideline and Diversity Policy.
The Board focused significant energy on activating and implementing its crisis management plan to govern the organization through COVID-19. This included a third-party analysis on the effectiveness of the organization’s initial COVID-19 crisis response, which also examined the Board’s involvement in the response. The analysis of the Board’s actions revealed the governance response was effective and appropriate.
2020 Board of Directors (photo taken February 2020). From left to right: Rod Dewar, Peter Leitch, Diana Chan, Dave Davenport, Victoria Withers, Allan Achtemichuk, Julie McGill, Lynne Charbonneau, Gordon Janzen.
BlueShore Financial places a strong emphasis on Director learning and development. In 2020, Board education sessions were held on the following subjects:
- Technology infrastructure
- Client research
- Diversity, equity and inclusion
The Board’s education in diversity, equity and inclusion (DEI) was held over the course of three group sessions and facilitated by a third party. The objective of this training was to better understand unconscious bias, develop a common vocabulary, explore best inclusive practices, and consider the key role that leadership plays in establishing an inclusive culture. In addition, all Directors developed individual learning plans to continue to advance these important objectives.
Directors are eligible for reimbursement of certain education expenses, in line with the Director Development and Education Policy, which was updated in 2019. In 2020, Directors pursued individual education opportunities through the Institute of Corporate Directors, CUSource®, and other providers.
Individual Director learning plans are reviewed annually by each Director with the Board Chair as part of the Board evaluation and effectiveness process. A formal evaluation is conducted annually by a third party, which assesses the performance of the Board overall, including its Committees and the Committee Chairs. In addition, the Board reviews its performance informally at the end of every Board meeting without Management present.
For information on Director attendance, compensation, and expenses please refer to our Management Discussion and Analysis.