Board and committees 

The Agency’s board of directors sees to it that the Agency fulfills its mandate and the terms of its contract with CMHC and any future government clients. It ensures that the Agency is well run and accountable. 

The Finance and Audit Committee oversees the Agency’s finances

and internal controls. The Governance and Human Resources Committee ensures that the Agency’s governance is strong.

Board composition

The board of directors of CHF Canada appoints the Agency’s six-person board of directors. Directors are drawn from the major geographic regions the Agency serves.

Director qualifications

Beyond the legal qualifications for directors in the Canada Cooperatives Act, all directors of the Agency must

• be financially literate (i.e., able to read and understand a set of financial statements as complex as the Agency's)
• be prepared to attend meetings regularly and otherwise dedicate the time and energy needed for the Agency’s effective governance.

As a group, the directors must be knowledgeable and experienced in fields relevant to the Agency’s mandate and operations, such as

co-operative housing
property management
regional housing markets in Canada
the housing programs under which co-operatives operate
administration of government programs
business management
risk management
information technology
finance or accounting
relevant areas of law.

Disqualifications

The Agency’s by-laws state that, at the time of their appointment and afterwards, no director of the Agency may be

a current director, officer or employee of CHF Canada or of a regional federation of housing co-operatives
a current director, officer or employee of CMHC
a current member, director, officer, employee or manager of a co-op advised by the Agency that it is not abiding by its operating agreement with CMHC
in breach of the Agency’s rules of ethical conduct and of the Ethical Conduct Agreement they must sign on joining the board and each year afterwards.

A director ceases to be a director on becoming any of the above. These rules are intended to ensure that the Agency operates at arm’s length from its government client and the co-operative housing movement's advocacy organizations and otherwise conducts itself ethically.

Term of appointment

Directors are normally appointed for a three-year term. No director may serve more than two full consecutive three-year terms. Directors cannot be removed from office before the end of their term, provided they continue to meet the qualifications set out in the by-laws.

 

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