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Board of directors and committees

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The legislative framework governing CMHC consists primarily of the Canada Mortgage and Housing Act, the National Housing Act and the Financial Administration Act. Pursuant to the CMHC Act, the stewardship of the Corporation is the responsibility of the Board of Directors, which is comprised of the Chairperson, the President and Chief Executive Officer; the Deputy Minister of the Minister for CMHC; the Deputy Minister of Finance; and, eight other directors.

The Chair and the President and Chief Executive Officer are appointed by the Governor in Council. The Deputy Minister of the Minister for CMHC and the Deputy Minister of Finance are appointed based on the office they each hold. The eight other directors are appointed by the Minister designated for the purposes of the Canada Mortgage and Housing Act and the National Housing Act with Governor in Council approval. With the exception of the President and Chief Executive Officer, all members of the Board are independent of CMHC Management.

The Board of Directors meets a minimum of five times per year. To gain regional perspective, the Board holds some of its regularly scheduled meetings outside the National Capital Region. These meetings are an opportunity for Board members to visit housing projects and to discuss housing issues with local stakeholders.

The Corporate Governance and Nominating Committee, the Audit Committee, the Risk Management Committee, the Human Resources Committee, the Pension Fund Trustees, and the Housing and Capital Projects Committee support the Board of Directors in carrying out its stewardship of CMHC. These committees examine matters in their respective areas that come before the Board of Directors for consideration. Their respective Charters are posted on CMHC’s website and are reviewed on a regular basis by the Board to ensure that these committees continue to carry out their responsibilities effectively.

mandate

CMHC’s mandate, as defined in the National Housing Act, is to: “promote housing affordability and choice, to facilitate access to, and competition and efficiency in the provision of, housing finance, to protect the availability of adequate funding for housing at low cost, and generally contribute to the well-being of the housing sector in the national economy.”

The statutory objectives for CMHC’s commercial operations are further specified in the National Housing Act as follows:

  • to promote the efficient functioning and competitiveness of the housing finance market;
  • to promote and contribute to the stability of the financial system, including the housing market; and,
  • to have due regard to the Corporation’s exposure to loss.

MEMBERSHIP AND BIOGRAPHIES

In accordance with the Canada Mortgage and Housing Act, the Board of Directors is responsible for managing the affairs of the Corporation and the conduct of its business. The Board is comprised of eleven members, including the Chair, and the President and Chief Executive Officer; the Deputy Minister of the Minister for CMHC; and the Deputy Minister of Finance.

Derek Ballantyne

Chair

Derek Ballantyne was appointed as Chair of Canada Mortgage and Housing Corporation’s Board of Directors in April 2018.

Mr. Ballantyne brings extensive experience in the development and management of housing, as well as the development of financial models for housing development and operations and innovative approaches to attract new sources of capital to housing.

With more than 20 years of experience in the management of large and mid-size housing organizations, he brings broad knowledge of the complex public and private environments and a comprehensive knowledge of housing, real estate management and development sectors. He also brings deep knowledge of the non-profit, charitable, social entrepreneurship, cooperative and foundation sectors at the local, provincial and federal levels.

Mr. Ballantyne was Chief Operating Officer of Build Toronto, where he assisted in the establishment of the corporation, development of the first business plan, and execution of several large transactions and development initiatives. He also served as Chief Executive Officer of Toronto Community Housing, a large rental housing provider, with over $6 billion in real estate assets in Toronto. He led organizational and financial restructuring of the company, and the recapitalization and redevelopment of a significant portion of the portfolio (including the Regent Park community) as well as the commercialization of non-core functions. He is currently CEO for Encasa Financial Inc., a multi-fund provider and a partner in New Market Funds, an innovative platform that develops and manages impact investment products.

Romy Bowers

Romy Bowers 

President and CEO

Romy Bowers was appointed President and Chief Executive Officer of Canada Mortgage and Housing Corporation in April 2021. She leads a team of housing experts who share a single goal: that “By 2030, everyone in Canada will have a home that they can afford and that meets their needs.” As CEO, Ms. Bowers believes CMHC can be a catalyst for solving housing affordability challenges and a leader in building a housing system that is equitable and free of systemic racism. 

Ms. Bowers joined CMHC in 2015 as the company’s Chief Risk Officer. She has also served as CMHC’s Chief Commercial Officer and most recently was Senior Vice-President of Client Solutions, where she led a team that brings together the expertise of CMHC’s commercial and assisted housing businesses to better understand the housing needs of Canadians and develop new client-focused products and services to meet those needs. 

Prior to joining CMHC, Ms. Bowers had a diverse career in the Canadian banking industry, including 12 years with the Bank of Montreal, where she gained extensive experience in treasury operations and risk management.  

Ms. Bowers received an M.A. in Business Administration (Finance) from the University of Toronto and an M.A. in Arts from McGill University. 

Kelly Gillis (ex-officio)

Kelly Gillis

Deputy Minister of Infrastructure and Communities

Kelly Gillis was appointed Deputy Minister, Infrastructure and Communities in September 2017. Infrastructure Canada is the Government of Canada department that provides long-term, predictable support to help Canadians benefit from world-class, modern public infrastructure; makes investments, builds partnerships, develops policies, delivers programs, and fosters knowledge about public infrastructure in Canada; and helps address complex challenges that Canadians face every day, ranging from the rapid growth of our cities, to climate change, and environmental threats to our water and land.

Prior to this appointment, Kelly served as Associate Deputy Minister of Innovation, Science and Economic Development Canada (ISED), the department that worked to develop Canada's Inclusive Innovation Agenda to help build an economy that promotes clean growth, high-quality jobs and increased prosperity.

Previous to this, Kelly held a number of positions within the federal government, including, Senior Assistant Deputy Minister, Spectrum, Information Technologies and Telecommunications (SITT) Sector and Chief Financial Officer at Industry Canada.

Kelly holds a Bachelor of Commerce and Graduate Diploma in Public Accounting from McGill University and is also a qualified chartered accountant.

Kelly is originally from Montréal. She and her husband have three children.

Michael Sabia (ex-officio)

 

Deputy Minister of the Department of Finance

Michael Sabia was appointed the Deputy Minister of the Department of Finance Canada as of December 14, 2020.

Mr. Sabia was previously appointed Chair of the Board of the Canada Infrastructure Bank in April 2020. He was named Director of the University of Toronto’s Munk School of Global Affairs and Public Policy in February 2020.

Mr. Sabia brings a wealth of experience in the public and private sectors to his new role at Finance Canada. He has been President and Chief Executive Officer of la Caisse de dépôt et placement du Québec (CDPQ) – a role he served in from 2009 until 2020. During his tenure, he led the rebuilding of CDPQ into a global financial institution.

Prior to joining CDPQ, Mr. Sabia was CEO of Bell Canada Enterprises and CFO of Canadian National Railway. He began his career in the federal Public Service, serving principally in the Department of Finance and the Privy Council Office, where he was Deputy Secretary to the Cabinet (Plans).

In addition to serving on government advisory groups in Canada, he has also participated in a number of international initiatives, including the United Nations Net Zero Alliance and as co-chair of the World Economic Forum’s working group on infrastructure and development. During Canada’s presidency of the G7 in 2018, he co-chaired the Investor Leadership Network on Climate Change, Diversity and Infrastructure Development.

In 2017, he was named an Officer of the Order of Canada.

Mr. Sabia was educated at the University of Toronto (B.A.) and at Yale University (M.Phil).

Navjeet (Bob) Dhillon

Member of the Board of Directors

Navjeet (Bob) Dhillon was appointed to the Board of Directors of Canada Mortgage and Housing Corporation in February 2015.

Mr. Dhillon is the founder, President & CEO of Mainstreet Equity Corp., a Calgary-based publicly traded company listed on the Toronto Stock exchange that acquires underperforming assets (low rent rental-apartments), clusters them into apartment complexes, and upgrades them to mid-market rental units. Mr. Dhillon has more than two decades of experience in acquiring and repositioning all types of properties.

He is also founder, owner & President of Pan Pacific Mercantile Group, an international trading and export company focused on real estate development in emerging markets such as Belize and India, and founder and co-owner of National Payments, a point of sale payment solutions organization for small business merchants.

Bob holds an MBA from the Richard Ivey School of Business at the University of Western Ontario. He is the Honorary Consul General for Belize in Canada.

Janice Abbott

Member of the Board of Directors

Janice Abbott was re-appointed to the Board of Directors of Canada Mortgage and Housing Corporation in December 2020.

Ms. Abbott has been the CEO of Atira Women's Resource Society since 1992. She has lead the Society through its growth from a single transition house located in South Surrey with a staff of seven to a large multi-service agency with two, for-profit subsidiaries, a development arm and more than 500 staff. She has led numerous innovative capital projects including Canada’s first multi-unit recycled shipping container housing development, which was completed in August 2013 and Olivia Skye, a 198-unit mixed income rental building built in partnership with a large Vancouver development firm and opening in January 2018.

She was recognized by Vancouver Magazine on its Power 50 list in November 2017, BC Business Magazine as among one of BC's 35 Most Influential Women in 2016 and BC’s Most Influential Women in Not-for-Profit, Culture & Media in 2015.

Linda Morris

Member of the Board of Directors

Linda Morris was appointed to the Board of Directors of Canada Mortgage and Housing Corporation in December 2017.

Ms. Morris served as Senior Vice-President of Business Development, Member and Community Engagement at Vancity, from 2011 to 2017. She was responsible for engaging and growing the credit union’s membership through its member experience, products and services, and commitment to communities.

Previously, she was the CEO of the Canadian Breast Cancer Foundation, BC/Yukon; prior to this she was Deputy Minister in the Public Affairs Bureau for the Government of BC, Vice President, and Communications & Community Engagement for Vancouver Coastal Health, and Director of Public Affairs for the Vancouver Port Authority.

Gordon J. Laing

Gordon Laing

Member of the Board of Directors

Gordon J. Laing was appointed to the Board of Directors of Canada Mortgage and Housing Corporation in December 2018.

Mr. Laing is the President and CEO of Southwest Properties Limited, a leading developer of residential and commercial property in Atlantic Canada, where he started as a Chief Operating Officer in 2006. He was named one of Atlantic Canada’s Top 50 CEOs for the fourth time in 2012. Southwest earned Platinum Member status of Canada’s Best Managed Companies after maintaining Best Managed status for seven years.

Mr. Laing holds a Bachelor of Business Administration from Acadia University in Wolfville, Nova Scotia. He is a Chartered Professional Accountant and was designated in 2006 a Fellow of the Society of Management Accountants of Canada — an honorary title for his outstanding achievements.

André Hébert

 Andre Hebert

Member of the Board of Directors

André Hébert was appointed to the Board of Directors of Canada Mortgage and Housing Corporation in February 2019.

Mr. Hébert is Head of Technology at Air Canada Vacations, where he is responsible for all strategic and operational aspects of technology for the business. He brings to CMHC’s board more than 35 years of hands-on experience in large IT transformation projects, as well as unique operational and strategic insights in this complex and ever-evolving field.

A seasoned CIO with a strong business background, Mr. Hébert has led the implementation of a number of global IT strategies and systems to achieve corporate objectives.

Mr. Hébert started his career with Unisys Canada (Sperry) and subsequently held a number of senior IT positions, including at Air Canada, Aeroplan, Aimia and recently returned at Air Canada. He holds a Bachelor’s degree in Management and an MBA from École des Hautes Études Commerciales in Montréal.

Chris Sicotte

  

Executive Director of the National Aboriginal Trust Officers Association (NATOA)

Chris Sicotte was appointed to the Board of Directors of Canada Mortgage and Housing Corporation in June 2022.

He is currently the Executive Director of the National Aboriginal Trust Officers Association (NATOA) and was formerly the Executive Director/CEO of the Saskatchewan First Nations Water Association inc. Since 2002, he has been focused on working directly with First Nations, Tribal Councils, Business Development arms, Métis governments and entrepreneurs in providing financial services and advice.

Mr. Sicotte has and continues to serve on numerous Boards and committees, including the Kahkewistahaw Economic Management Corporation, Timaskaw Transport LP, SparrowHawk Developments LP, the Provincial Métis Housing Corporation, AFOA Canada, the Greater Saskatoon Chamber of Commerce, and the City of Saskatoon’s Diversity, Equity, and Inclusion Advisory Committee.

He is a proud Cree/Métis and member of the Nisichawayasihk Cree Nation (formerly known as Nelson House). He also has family connections to the historic communities of Cumberland House, the Red River Métis Settlement, and Muenster.

COMMITTEES

Audit

Members

Gordon Laing (Chair)
Michael Sabia
Chris Sicotte

Mandate

The mandate of the Audit Committee is to assist the Board of Directors of Canada Mortgage and Housing Corporation in fulfilling its oversight responsibilities, including with respect to financial reporting, audit processes, internal controls.

Housing Affordability Committee

Members

Janice Abbott (Chair)
André Hébert
Bob Dhillon
Kelly Gillis
Michael Sabia
Chris Sicotte

Mandate

The mandate of the Affordable Housing Committee is to assist the Board of Directors of Canada Mortgage and Housing Corporation in fulfilling its oversight responsibilities with respect to CMHC’s housing activities insofar as to ensure effective implementation and delivery of the Corporation’s housing related mandate, including the National Housing Strategy.

Human Resources

Members

Linda Morris (Chair)
Bob Dhillon
André Hébert

Mandate

The mandate of the Human Resources Committee is to assist the Board of Directors of Canada Mortgage and Housing Corporation in fulfilling its responsibilities with respect to the effective implementation and application of sound human resources practices.

Corporate Governance and Nominating Committee

Members

Chair: vacant
Romy Bowers
Kelly Gillis
Janice Abbott

Mandate

The mandate of the Corporate Governance and Nominating Committee is to assist the Board of Directors of Canada Mortgage and Housing Corporation in fulfilling its responsibilities with respect to corporate governance structures, succession planning, and Board renewal.

Risk Management

Members

André Hébert (Chair)
Gordon Laing
Linda Morris
Michael Sabia

Mandate

The mandate of the Risk Management Committee of the Board of Directors is to assist CMHC’s Board in fulfilling its oversight responsibilities with respect to the identification and management of the Corporation’s principal risks.

Executive Committee (Board)

Members

Derek Ballantyne (Chair)
Romy Bowers
Kelly Gillis
Janice Abbott

Mandate

The mandate of the Executive Committee is to act on behalf of the full Board of Directors of Canada Mortgage and Housing Corporation to address significant and time-sensitive issues arising between meetings, where the Board cannot convene and meet the required quorum.

Pension Fund Trustees

Members

Romy Bowers – President & CEO
Andre Charbonneau – Deputy Chief Financial Officer
Guy-Anne Duval – Employee Trustee
Anju Gupta – Employee Trustee
Mark McInnis – Pensioner Trustee
Neil Levecque – Vice-President, Analytics and Chief Data Officer
Pam Hine – Vice-President, Housing Solutions – Multi-Unit

Mandate

The mandate of the Pension Fund Trustees is to assist the Board of Directors of Canada Mortgage and Housing Corporation in fulfilling its responsibilities with respect to the administration of the CMHC Pension Plan and the Pension Fund.

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Date Published: August 10, 2020

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