The Board has established four standing committees (each with a clear purpose and terms of reference) to assist it in the responsible discharge of its duties. Primary responsibilities of each standing committee are set out below.
Audit and Finance Committee
- Monitor the annual and quarterly statements, returns, capital adequacy and any other public financial reports or disclosures of Serenia Life Financial.
- Monitor the activities of Serenia Life Financial which may have impact on its financial well-being.
- Monitor financial reporting internal control procedures.
- Monitor the work of the external auditor of Serenia Life Financial.
Governance and Human Resources Committee
(a) Corporate Governance
- Develop the approach of Serenia Life Financial to matters of corporate governance and make recommendations to the Board with respect to such matters.
- Monitor the effectiveness of the Board as a whole and the Committees of the Board.
- Consider the mandates of the Committees of the Board and make recommendations to the Board regarding selection and rotation of Committee members and chairpersons.
- Monitor the Director orientation and governance education programs of the Board.
- Make recommendations to the Board regarding the appropriate compensation to be paid to members of the Board.
(b) Human Resources
- Recommend to the Board the policy on human resources principles and compensation philosophy and principles.
- Monitor overall organizational employment health, performance, and engagement.
- Recommend to the Board the CEO Position Description and CEO employment and compensation terms.
- Recommend to the Board the design, and monitor the implementation, of the annual CEO performance evaluation.
- Monitor executive management appointments, total compensation, succession planning and personal development plans.
- Monitor Serenia Life Financial’s Pension and Benefits Committee.
(c) Board Nominations
- Manage and act on Board-approved nominations strategy.
- Monitor the election process and implementation.
- Recommend to the Board selected Director candidates.
- Monitor the investment activities of Serenia Life Financial and its pension plans.
- Monitor the investment returns related to the investable assets of Serenia Life Financial and its pension plans.
- Monitor the asset liability activities of Serenia Life Financial and its pension plans.
- Monitor Serenia Life Financial corporate compliance with the Investment Policy and relevant legislation and regulations.
Risk and Compliance Committee
- Develop, monitor and recommend policies related to risk appetite, acceptable risk tolerances, risk indicators and assessment, and risk management.
- Monitor legal, regulatory and environmental compliance and safety matters.
- Monitor new business/operational initiatives.
The Board conducts a self-evaluation each year with the objective of improving its own work. Its purpose is to allow Board members to better understand their own roles and responsibilities and how they can fulfill their obligations effectively. The process emphasizes development of the Board’s team building skills, provision for a structure for problem solving and increased accountability within the organization.
President, Chief Executive Officer & Corporate Secretary
K. Alan Uffelmann, MBA, CPA, CMA
Vice-President, Finance and Chief Financial Officer
Lawrence Guenther, FCIA
Vice-President and Actuary, Chief Risk and Compliance Officer
Vice-President, Sales and Distribution
Vice President IT & Digital Transformation
Chief Marketing Officer, Marketing and Fraternal
Chief People Officer, Human Resources