Committee Composition

For 2020, the OAC Board has five standing committees which assist the Board in discharging its responsibilities. The OAC Board also uses sub-committees and ad hoc committees from time to time to deal with special situations.

Audit & Actuarial Committee

The Audit & Actuarial Committee assists the OAC Board in fulfilling its oversight responsibilities for the:

  • integrity of the financial reporting process and financial statements;
  • funding risks and actuarial matters;
  • system of internal control and disclosures;
  • insurance risk management and fraud risk management;
  • Internal Audit function;
  • external audit of the financial statements;
  • organization’s processes for monitoring compliance with policies, laws and regulations and the Code of Conduct & Ethics; and
  • whistleblower mechanism (Ethics Hotline) and special investigations.

Chair:  Laurie Hutchinson
Members: Monty Baker, Darcie Beggs, Paul Elliott, Michael Fenn, Cliff Inskip, Charlene Mueller,
George Cooke (ex officio)

Governance Committee

The Governance Committee assists the Board of Directors (OAC Board) of OMERS Administration Corporation (OAC) in meeting its fiduciary oversight and related obligations in relation to governance, plan administration, and technology matters and particularly in relation to OAC’s governance principles by identifying governance, plan administration, and technology practices and standards (and supporting processes and practices) that promote and enhance effective Board and Management decision-making to ensure the OMERS Plan is administered in the best interest of its members and beneficiaries.

Chair: Penny Somerville
Members: Paul Elliott, Debbie Fischer, Laurie Hutchinson, Charlene Mueller, David Tsubouchi, Yung Wu,
George Cooke (ex officio)

Human Resources Committee

The purpose of the Human Resources Committee is to assist the OAC Board in meeting its fiduciary oversight and related obligations by:

  • attracting, retaining and motivating excellent leaders at the senior executive level who are committed to the OAC Mission Statement and Core Values;
  • overseeing a robust succession planning process for the position of CEO; and
  • overseeing senior executive performance, compensation and compensation policies.

Chair: Monty Baker
Members: David Beatty, Darcie Beggs, Bill Butt, Debbie Fischer, Rajiv Silgardo, David Tsubouchi,
George Cooke (ex officio)

Investment Committee

The purpose of the Investment Committee is to enable the Board of Directors of the OMERS Administration Corporation, through a Committee of the Board, to approve transactions which exceed limits delegated to Management and to consider and advise the OAC Board on investment policies and strategies.

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

Appeals Committee

The purpose of the Appeals Committee is to assist the OAC 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 OAC Board has delegated authority to adjudicate appeals to the Committee under By-law No. 4.  The Committee also assists the OAC Board in maintaining a strong administrative law decision-making process by reviewing and making recommendations to the OAC Board on changes to the rules respecting practice and procedure before the Committee.

Chair: David Tsubouchi
Members: Darcie Beggs, Paul Elliott

Joint Council

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

Chair: George Cooke (Board Chair)
Member: Penny Somerville (Chair of Governance Committee)

Risk Oversight Committee

The Risk Oversight Committee is constituted as an ad hoc Committee of the OAC Board to assist the Board in fulfilling its fiduciary oversight responsibilities by reviewing and monitoring:

  • the evolution of OAC’s risk management framework;
  • the implementation of OAC’s risk governance structure;
  • the development of a Risk Appetite Statement for the Board; and
  • making recommendations to the Board in relation to the above.

Chair: Penny Somerville
Members: Darcie Beggs, Laurie Hutchinson, Cliff Inskip,
George Cooke (ex officio)