Credit Union Deposit Guarantee Corporation (the Corporation) is the deposit guarantor and primary regulator for Saskatchewan credit unions and SaskCentral (together, Provincially Regulated Financial Institutions or PRFIs). The Corporation instills confidence in the province’s credit union system with a mandate of:
guaranteeing the repayment of deposits in Saskatchewan credit unions
establishing regulatory standards and ensuring PRFIs are performing to those standards
promoting responsible governance by PRFIs, and contributing to the strength and stability of the credit union system
directing PRFIs to take action on material deficiencies, and any issue that may put depositors’ funds at risk
maintaining and managing a guarantee fund in a sound and prudent manner
The selection committee is now seeking candidates for the Corporation’s board of directors. The board is responsible for the governance of the Corporation and is responsible for providing oversight, strategic direction, planning and vision, and developing and implementing corporate policy.
The committee will assess the candidates against the competency-based needs of the board. Board members are selected based on particular skill set/expertise currently needed to support the board. By implementing a competency- based approach, the Corporation is able to make effective use of intellectual capital in the decision-making processes.
The ideal candidate will meet the competencies identified by the board and have a combination of diverse skills, knowledge, experience, education and personal attributes.
A candidate, who was previously employed by government, a credit union or SaskCentral, may only apply to be a CUDGC board member, one year after government, a credit union or SaskCentral no longer employ them. This is not the case for those employed in other industries.
The committee is seeking candidates who possess a combination of the following attributes:
Knowledge of credit unions and co- operatives
Strategic planning and thinking
Financial industry knowledge
Teamwork and partnering
Financial acumen in the context of financial institutions
Knowledge of governance and board roles
Risk management in a financial institution
Regulatory roles and legislation
Two positions on the board (each up to a three-year term) are required to be filled at this time.
The Corporation believes in the benefits of a board that consists of diversity and inclusiveness. The unique skills and experience each individual brings are considered valuable. Diversity of board composition is a consideration.