Director Recruitment and Nominations
- Annual General Meeting
- Board and Individual Director Assessments
- Board Committees
- Board Meetings
- Board Policies
- Board Roles and Responsibilities
- Corporate Social Responsibility
- Credit Union Rules
- Director Recruitment and Nominations
- Director Remuneration
- Directors Election
- Executive Compensation
- Ordinary and Special Resolution
- Seeking Qualified Candidates
Annual General Meeting
Board and Individual Director Assessments
Board Roles and Responsibilities
Corporate Social Responsibility
Credit Union Rules
Director Recruitment and Nominations
Ordinary and Special Resolution
Seeking Qualified Candidates
It's important to find qualified candidates for our Board.
Our Governance & Community Engagement Committee’s key role in Board of Director succession planning process is to prepare a Board Composition Matrix that assists in identifying the optimal mix of skills and experience required on the Board as a whole. The Nominations Committee reviews the Board Composition Matrix and identifies any gaps or additional areas where skills and expertise may be needed to draft the Ideal Director Candidate Description (the “Description”). The Nominations Committee invites applications and assesses potential candidates using their judgment and discretion, consideration of the Description together with candidates' personal characteristics, Board of Directors leadership requirements, diversity and overall Board functioning.
The Nominations Committee is appointed by the Board following the Annual General Meeting as required by the Coast Capital Savings Credit Union Rules. The Nominations Committee's membership is restricted to directors who are not seeking re-election in the upcoming year. The committee reports directly to the membership (that’s you), not the Board and works with an independent consultant who specializes in corporate governance and board recruitment. This consultant assists in recruiting and screening qualified nominees, including incumbent directors who are standing for re-election.
The Committee serves the membership as follows:
- Based on the Board Composition Matrix, the Committee determines the skills, business experience, and qualifications needed on the Board to provide an effective governing team.
- Develops the Description and circulates it to the membership. This identifies the skills, experience and qualifications needed to fill the upcoming vacant positions for the Board to fulfill its responsibilities.
- Requests nominations from the membership and seeks candidates from the community at large who fulfill the needs as identified in the Description.
- Rigorously assesses all nominees against the Description with the assistance of an external governance consultant. Incumbent directors with terms expiring in that year are eligible for nomination and are subject to the same considerations as new potential candidates.
- Identifies and recommends to the membership those candidates who best align with the Description and the overall needs of the Board. These recommendations are the outcome of the detailed assessment performed on our members’ behalf and are provided for information as members consider their voting choices.
In the fall of each year the Nominations Committee seeks your assistance in nominating qualified candidates to the Board of Directors that will fulfill the criteria as identified in the Description. Find out more about seeking qualified candidates.
In keeping with its charter and maintaining good corporate governance practices, the Nominations Committee and the independent governance and board recruitment specialist, carry out a due diligence review of each candidate application. A short list is developed from those applications, which most closely match the Description. Following this, a structured interview of short-listed candidates is conducted to assess which candidates have the business skills and experience most closely aligned to the Description.
The committee assesses all the information and recommends to the membership those candidates who best align with the Description.
A complete election package profiling all candidates is provided to members.
Members vote in the spring and results are announced at the Annual General Meeting.