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Board of Directors and its Committees

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, and the Affordable Housing Committe 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.

Board of directors charter PDF

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 twelve 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

Derek Ballantyne

Chair

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Mr. Derek 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.

Bruce Shirreff

Vice-Chair

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Bruce Shirreff was appointed to the Board of Directors of Canada Mortgage and Housing Corporation in February 2014. He was reappointed in December 2017 and appointed Vice-Chair of the board in January 2018.

Mr. Shirreff’s career with Toronto Dominion Bank/TD Canada Trust spanned close to 35 years. During his career he held a number of senior positions including: Senior Vice President, Atlantic Canada Region; Senior Vice-President, Real Estate Secured Lending; and Senior Vice President, Financial Planning and Wealth Management.

Mr. Shirreff has served on the Board of Directors of TD Mortgage Corporation, TD Asset Management as well as Visa Canada, Canadian Payments Association and Symcor Inc. He is currently a director of Teranet Inc.

Mr. Shirreff holds an Honours in Business Administration and an MBA from the Ivey School of Business, University of Western Ontario.

Evan W. Siddall

CMHC President and CEO

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Evan Siddall was appointed President and Chief Executive Officer of Canada Mortgage and Housing Corporation in January 2014. As CEO, Mr. Siddall works with his colleagues to help Canadians meet their housing needs. CMHC’s mission includes promoting housing access and affordability as well as financial stability.

Prior to joining CMHC, Mr. Siddall served as Special Advisor to the Governor of the Bank of Canada and the Bank’s Senior Representative to Toronto, where he led projects designed to promote continuous financial markets and the stability of the Canadian financial system.

Before entering public service, Mr. Siddall held a variety of positions in both investment banking and general management, including at BMO Nesbitt Burns, Goldman Sachs & Co., Lazard Frères & Co. and Irving Oil Ltd.

Mr. Siddall received an L.L.B from Osgoode Hall Law School, York University, a B.A. in Management Economics from the University of Guelph and attends the YPO Presidents’ University at Harvard Business School. He has also served as Chair of the Board of Governors of the University of Guelph, on the boards of the Power Plant Contemporary Art Gallery, the Ontario chapter of the Young Presidents Organization and of the Canadian Stage Company, and as Chair of the Council of Chairs of Ontario Universities.

Louise Levonian (ex-officio)

Deputy Minister of Employment and Social Development

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Effective May 16, 2016, Louise Levonian became the Deputy Minister of Employment and Social Development. She is also the Chair of the Board of Management and Renewal Sub-Committee on Public Service Engagement and Workplace Culture. In this capacity, she has helped shape the Blueprint 2020 exercise and is committed to ensuring an engaged public service that is world-class and equipped to serve Canada and Canadians now and into the future.

Prior to her appointment as DM, Ms. Levonian served as the Senior Associate Deputy Minister of Employment and Social Development and Chief Operating Officer for Service Canada for close to two years.

Prior to joining Employment and Social Development Canada, Ms. Levonian served as Associate Deputy Minister for the Department of Finance. She worked at the Department of Finance from September 1995 to July 2014 with two intervals outside the Department: the most recent at the Privy Council Office of the Government of Canada as the Director of Operations (Planning) in the Priorities and Planning Secretariat; and one working for KPMG – Barents Group as a tax consultant. At the Department of Finance, Ms. Levonian also held several positions of increasing seniority including as Departmental Secretary in the Deputy Minister’s Office, Director of Business Income Tax, General Director (Analysis), and Senior Assistant Deputy Minister Tax Policy Branch. Ms. Levonian also held positions at the Treasury Board Secretariat and the Department of Transportation prior to joining the Department of Finance.

Ms. Levonian graduated from Queen’s University in 1990 with a Master of Arts in Economics, majoring in Public Finance and Industrial Organization. She was granted a Queen's University Graduate Scholarship in 1989 – 90. Ms. Levonian also obtained a Bachelor of Arts in Economics with High Honours at Carleton University and was on the Deans’ Honour List in 1988 – 89. She is currently a member of the Board of Governors at Carleton University.

Paul Rochon (ex-officio)

Deputy Minister Department of Finance

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Paul Rochon assumed the position of Deputy Minister of Finance on April 21, 2014.

Prior to this appointment, from July 2013 to April 2014, Mr. Rochon served as Deputy Minister of International Development, under the new Department of Foreign Affairs, Trade and Development.

Previously, Mr. Rochon was Associate Deputy Minister of Health and concurrently Special Advisor to the Minister of Finance on negotiations for a Canadian securities regulator.

Mr. Rochon has more than 20 years of experience at the Department of Finance and held a number of positions, including Associate Deputy Minister of Finance and Canada's Finance Deputy at the G-7, G-20 and the Financial Stability Forum, as well as Senior Assistant Deputy Minister in the Economic and Fiscal Policy Branch.

Prior to joining the Department of Finance, Mr. Rochon worked for three years at the Conference Board of Canada. He holds a bachelor's degree in History from McGill University and a master's degree in Economics from the University of Toronto.

Navjeet (Bob) Dhillon

Member of the Board of Directors

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Navjeet (Bob) 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.

Peter Sharpe

Member of the Board of Directors

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Leonard Peter Sharpe is a high profile, well-networked senior executive with 25+ years of experience in guiding organizations through ebb and flow of economic conditions in both a domestic and global commercial environment. Has direct board and corporate experience in areas of strategic planning, operations, governance and financial management.

Peter is the former President and Chief Executive Officer of the Cadillac Fairview Corporation Ltd., one of North America’s largest investors, owners and managers of commercial real estate. Cadillac Fairview currently holds more than $20 billion in assets. Peter also has a wealth of senior Board experience, having served as global chairman of the International Council of Shopping Centers, the world’s largest real estate association; as Director of Postmedia Network Canada Corp. and Postmedia Network Inc.; and as a Trustee of Allied Properties REIT.

Janice Abbott

>Janice Abbott

Member of the Board of Directors

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Ms. Janice 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

>Linda Morris

Member of the Board of Directors

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Ms. Linda 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 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.

Dana Ades-Landy

>Dana Ades-Landy

Member of the Board of Directors

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Ms. Dana Ades-Landy brings more than 25 years of experience in the fields of business financing, financial recovery services and credit. She has profound knowledge of the commercial lending sector.

She served various high-level positions with several Canadian banking institutions. Ms. Ades-Landy was most recently VP in charge of Commercial Banking for Quebec and Eastern Ontario at Scotiabank. She served as Senior Vice President of National Accounts, Commercial Banking for Laurentian Bank of Canada from 2006 until 2013, was Senior Vice President Transaction Advisory Services at KPMG LLP 2004 – 2006 and for the 12 years prior to this was VP Special Loans and Real Estate, Canada for National Bank. Since 2016, Ms. Ades-Landy has been the CEO of Heart and Stroke, Quebec.

In November 2012, Ms. Ades-Landy was nominated as president of the board of the Financial Women’s Association of Quebec (FWA). She also serves on the board of Alithya, Canada’s leading privately held company in IT Strategy and Consultation. In February 2017, she was nominated to the Canadian Board of the International Women’s Forum, a global organization which promotes women leaders around the world.

In September 2016, she completed 2 terms as president of the Advisory Board of the John Molson School of Business. She has previously served on the board of Liquid Nutrition Group, the Institute of Public Private Partnerships, Montreal Heart Institute Foundation and was a member of the board and chair of the governance committee of the Quebec Cancer Foundation. Ms. Ades-Landy was named one of Canada’s Top 100 Most Powerful Women in 2007 and again in 2009.

She also holds the professional designation of ICD.D granted by the Institute of Corporate Directors.

Anne Giardini

>Anne Giardini

Member of the Board of Directors

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An executive, lawyer, director and writer, Ms. Anne Giardini, O.C., Q.C. was president of Weyerhaeuser Company Limited from 2008 to 2014 after serving as Weyerhaeuser's General Counsel. A long-time leader within Canada’s resource industry, she has served on many related boards including B.C.’s Council of Forest Industries, the Alberta Forest Products Association, the Forest Products Association of Canada, and Sustainable Forestry Initiative, Inc.

In 2014 and again in 2016, Ms. Giardini was recognized by WXN as one of Canada's 100 most powerful women. In 2015 she received a Western Canada General Counsel Lifetime Achievement Award. In 2016, she was appointed Officer of the Order of Canada for her contributions to the forestry sector, higher education and the literary community.

Ms. Giardini served on Simon Fraser University's Board of Governors for five years before being appointed Chancellor in 2014.

Committees

Audit

Members

Dana Ades-Landy (Chair)
Navjeet (Bob) Dhillon
Peter Sharpe
Paul Rochon (ex-officio)
Anne Giardini

Mandate

The mandate of the Audit Committee of the Board of Directors is to assist CMHC’s Board in fulfilling its oversight responsibilities with respect to the annual and quarterly financial reporting processes, the system of internal controls, and audit processes, such as internal audit, the annual financial audit and the periodic special examination.

Audit Committee Charter PDF

Affordable Housing

Members

Janice Abbott (Chair)
Derek Ballantyne
Navjeet (Bob) Dhillon
Louise Levonian (ex-officio)
Linda Morris

Affordable Housing Committee Charter PDF

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, communication, and reporting responsibilities with respect to the effective implementation and application of assisted housing policies, programs, and initiatives.

Affordable Housing Committee Charter PDF

Human Resources

Members

Peter Sharpe (Chair)
Bruce Shirreff
Janice Abbott
Dana Ades-Landy
Linda Morris

Mandate

The mandate of the Human Resources Committee of the Board of Directors is to assist CMHC’s Board in fulfilling its responsibilities as stewards of the Corporation with respect to the effective implementation and application of sound human resources policies. In so doing, the Human Resources Committee recommends to the Board, for its consideration, matters relating to the Corporation’s policies governing recruitment, retention, training, succession management, diversity, official languages and compensation.

Human Resources Committee Charter PDF

Corporate Governance and Nominating Committee

Members

Derek Ballantyne (Chair)
Evan W. Siddall
Bruce Shirreff
Peter Sharpe
Louise Levonian (ex-officio)
Anne Giardini

Mandate

The mandate of the Corporate Governance and Nominating Committee of the Board of Directors is to assist CMHC’s Board in fulfilling its responsibilities as steward of the Corporation with respect to the effective application of corporate governance structures, standards, and procedures, while overseeing the Corporation’s governance framework and advising the Board appropriately.

Corporate Governance and Nominating Committee Charter PDF

Risk Management

Members

Bruce Shirreff (Chair)
Paul Rochon (ex-officio)
Dana Ades-Landy
Janice Abbott
Anne Giardini

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.

Risk Management Committee Charter PDF

Pension Fund Trustees

Members

Anne Giardini – Chair (board representative)
Evan Siddall – President & CEO
Neil Levecque – Vice-President, Technology Strategy and Chief Data Officer
Michel Tremblay – Senior Vice-President, Policy and Research
Christina Haddad – Vice-President, Public Affairs
Stephen Hall – Pensioner Trustee
Etienne Pinel – Employee Trustee
Paul Greene – Employee Trustee

 

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