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Risk Watch: Thought Leadership on Risk and Governance (January 2012)

This is the fifth issue of Risk Watch, a tri-annual journal of original articles from leading global thinkers and practitioners on risk management and corporate governance. Authors are invited to express opinions, perspectives, and ideas that test readers’ assumptions and beliefs about the risk world. Both theoretical analysis and practical applications are found within each issue—along with insights about how organizations can address the risk issues confronting them today.

Document Highlights:

  • Rob Quail offers five key statements that could become an enterprise risk management mantra for decision-makers, and demonstrates how to actively apply these statements.
  • Jody Hamade and Theresa Dekker explain how Ontario Power Generation is working holistically to minimize the occurrence of unexpected events and to become prepared should they occur.
  • Scott Kashuba shares details of the Government of Alberta’s five-year working partnership with the Government of Ghana. He focuses on four identified missions and the enterprise risk management expertise and lessons learned.
  • Betty J. Simkins, Ilene H. Lang, and Heather Foust-Cummings, identify the benefits of improved risk governance that boards gain by increasing their gender diversity.

Risk Watch is available free of charge to The Directors College alumni and faculty only. Please contact us at
1-866-372-1778 or info@thedirectorscollege.com to receive your copy today. Previous copies of Risk Watch are also available.

The review is also available to the public as a download for a fee. Download Now!  

Save the Date

The Directors College will hold the Annual Graduation and Alumni Event on Monday, March 5, 2012 at the Toronto Marriott Downtown Eaton Centre Hotel. More details to come.

Congratulations to Tom Bursey, A.C.C., C.Dir., H.R.C.C.C.

Congratulations to Tom Bursey, who was selected as a Fellow of The Society of Management Accountants of Canada, FCMA.

The FCMA is a prestigious, national honorary designation. The award of the FCMA recognizes CMAs, who by their achievements, bring distinction to the profession and serve as role models for others.

The FCMA is based on recognition by peers of the achievements of a member. The distinguishing qualities of an FCMA are a demonstrated excellence in management accounting, commitment to and pride in the CMA designation and their professional organization, and a civic-mindedness which brings a community’s respect to the member and, through the member, to the CMA designation. Members recognized for these qualities are also recognized as role models by others, both for their past achievements and their expected future achievements.

The designation is granted by a formal resolution of CMA Canada’s Board of Directors. A citation is presented to each Fellow to recognize publicly, the earned distinction. Fellows may use the letters FCMA after their name.

The presentation of this designation will take place during Convocation ceremony on Saturday, October 22, 2011 in Toronto.

Congratulations to Dr. Chris Bart, Recipient of the 2011 Corporate Governance and Strategic Leadership Award

Dr. Chris Bart, FCA, Founder, Principal and Lead Professor of The Directors College and a leading authority on organizational mission and vision statements, was awarded the TD Insurance Meloche Monnex Corporate Governance and Strategic Leadership Award at the 2011 HR Summit Awards, presented by Canadian HR Reporter and the Human Resources Professionals Association (HRPA).

This award “honours those HR teams and individuals who have made outstanding contributions to the profession and business community through innovative HR programs and practices as well as thought leadership. The HR Summit Awards recognize the very best in human resources management and are the benchmark for HR leadership in Canada.”

Boardrooms Ignore Gender Diversity at their Peril

Globe and Mail, Friday August 6, 2010

Written by Chris Bart
Principal and lead professor of the Directors College, McMaster University, Hamilton.

Why aren’t more women on Canadian boards?
(more…)

Congratulations on graduating from the Directors College – Remarks by, Michael Nobrega

Remarks by Michael Nobrega, President and CEO of OMERS

How Does Macroeconomics Affect Your Fiduciary Duty in Evaluating Investment Risk? (more…)

ASC Reciprocal Designation

Hamilton, September 16 —McMaster University and The Conference Board of Canada—joint venture partners in The Directors College—and the Collège des administrateurs de sociétés (CAS) of Université Laval are pleased to announce today a reciprocal agreement whereby their respective designations are recognized as equivalent. (more…)

The Corporation With Integrity A Well-Found Vessel in an Angry Sea

By, Paul Bates, Dean and Industry Professor in Financial Management Services, McMaster University, DeGroote School of Business.

A few years ago, I helped a friend sail his trawler south from Prince Rupert, B.C., down to the provincial capital, Victoria. I do not take many vacations, and for me the trip—at least, most of it—was truly relaxing. I enjoyed sights and sounds of the Pacific Northwest that I shall remember forever. (more…)

CROWN DIRECTORS IN SASKATCHEWAN OFFERED DIRECTOR EDUCATION PROGRAM

May 13, 2009 – The Directors College—Canada’s university-accredited director education program—today announced that it will deliver its Chartered Director program to directors of the Crown Investments Corporation of Saskatchewan (CIC) and its subsidiary Crowns.
(more…)

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What our graduates say?

“I found the Directors College to be an excellent survey of the important matters of which a director must be aware in today’s corporate environment. The quality of the presentation and materials was first-rate and the perspectives gained were invaluable. I would highly recommend the Directors College.”

The Honourable John Manley, P.C., O.C., C.Dir., Former Deputy Prime Minister and Finance Minister

“The changes that impact corporate governance are establishing a pattern of increased accountability for the delivery of long-term value to customers, shareholders, employees and society. Proper corporate governance is now being defined to include knowledge of critical elements such as risk management and the measurement of strategic performance. At the end of the day, each board will be judged on its ability to effectively deliver value, rather than on its structure. The Directors College innovative program fills a unique and important gap in providing knowledge and insight as to how this expectation can be met. CMA Canada is pleased to be a sponsor of this timely initiative.”

Steve Vieweg, C.Dir., Director, Executive Development, I.H. Asper School of Business – University of Manitoba

“As an organization focused on educating corporate secretaries, the ICSA believes in furthering the potential of board members to better contribute to building effective governance structures. Given the key role of directors and corporate secretaries in applying proper boardroom practices, corporations need to ensure that these individuals meet a professional standard. The Directors College curriculum covers all the formal regulatory issues for directors and also addresses the informal skills of building effective and appropriate relationships with senior management. We see significant benefits to this program and ICSA is pleased to endorse it.”

Lynn Beauregard, Executive Director, Chartered Secretaries Canada

“The Directors College has developed a director education program which goes well beyond the fundamentals to address the structures and the behavioural components of principle-based governance. I am proud to be associated with the Directors College and I am honoured to lend my name to the College’s graduate award. ”

Gilbert Bennett, Director and Recently-Retired Chairman of the Board, Canadian Tire Corporation Limited

“Our strategy is to raise the horizons and potential of directors by deepening and enriching their knowledge and application of advanced skills. Increasing the effectiveness of existing directors and broadening the pool of potential directors will contribute to the professionalism of boards across Canada.”

David Beatty, Managing Director, Canadian Coalition for Good Governance