Minister's Responsabilities for Appointments

The Consultations and Communications Branch provides full administrative support to the Minister's Office for managing appointments within the Finance portfolio.

The current and upcoming vacancies on the boards will provide an opportunity to improve the diversity of appointees (e.g. gender) within the Finance portfolio.

You will find below background information on appointments for each organization that falls under your purview. Please note that the following organizations currently have vacancies that require decisions in the near future:

Key Appointments Required in the First 100 Days

• Bank of Canada (6 Board Directors): Terms expire on February 29, 2020
• Canadian International Trade Tribunal (1 Permanent Tribunal Member): Term expires January 4, 2020
• Canada Development Investment Corporation (up to 3 Board Directors): 1 Vacant position; 3 terms expired on June 30, 2019
• Canada Pension Plan Investment Board (3 Board Directors): 1 Vacant position, 2 terms expire on February 12, 2020

Organizations within the Finance portfolio

Asian Infrastructure Investment Bank (AIIB)

• Upon being sworn in, the Minister of Finance serves as Canada's Governor at the AIIB. Similarly, the Deputy Minister of International Trade serves as Canada's Alternate Governor at the AIIB. Neither appointment has a term limit.

Bank of Canada

• Governor and Senior Deputy Governor are appointed by the Board of Directors with the approval of the Governor in Council, following consultations between the Bank's General Counsel and the Appointment Secretary in the Minister's office.
• Twelve part-time directors are appointed by the Minister with the approval of the Governor in Council.
• Deputy Minister of Finance is an ex officio member of the Board.
• The two external auditors of the Bank are appointed by the Governor in Council on the recommendation of the Minister.
• Status: Six appointments are set to expire on February 29, 2020, and the Governor's term expires on June 2, 2020. *Sentence redacted*

Canada Deposit Insurance Corporation (CDIC)

• President/CEO and Chairperson are appointed by the Governor in Council after the Minister has consulted the Board of Directors.
• Up to five directors are appointed by the Minister with approval of the Governor in Council.
• Deputy Minister of Finance is an ex officio director.
• Status: CDIC is governed by an 11-person Board of Directors. The Board includes a Chairperson, five private sector directors and five public sector directors. In 2018, four private sector directors were replaced with new appointees, for four-year terms (except one for a two-year term). The fifth director was appointed in 2019 for a four-year term. *Sentence redacted*

Canada Development Investment Corporation (CDEV)

• Chairperson and President are appointed by the Governor in Council after the Minister has consulted the Board of Directors.
• Up to six additional directors are appointed by the Minister with the approval of the Governor in Council.
• Status: The position of President has been a long-standing vacancy with the duties continuing to be carried out by an Executive Vice President. The current Chair was appointed in March 2019. The three Directors whose terms expired in June 2019 will continue in office until appointments are made. Two new Directors were appointed to the Board in August 2019.

Canada Pension Plan Investment Board (CPPIB)

• Twelve directors are appointed by the Governor in Council on the recommendation of the Minister, after the Minister has received the advice of a federal/provincial nominating committee and has formally consulted with Finance Ministers of the participating provinces.
• One of the directors is designated by the Governor in Council as Chairperson on the recommendation of the Minister (after consultation with the Board and the participating provinces).
• Since October 2014, when amendments to the CPPIB Act came in to force, up to three of the twelve directors may be non-residents of Canada.
• CPPIB does not currently follow the regular Governor in Council appointments process and, as such, performs all aspects of the search and assessment process before providing the nominating committee with a shortlist of recommended candidates.
• Status:
  • A director search process is currently underway to replace the outgoing director Jackson Tai, who stepped down from the Board in March 2019. *Sentence redacted*
  • Two director terms expire on February 12, 2020. *Sentence redacted*

Canadian International Trade Tribunal

• A Chairperson, a Vice-chairperson and up to five other permanent, full-time members are appointed by the Governor in Council.
• Up to five additional temporary members may also be appointed by the Governor in Council if workload so requires.
• The Tribunal currently operates with a full complement of one Chairperson, one Vice-Chairperson, five full-time permanent members, and one temporary member.
• Status: The Chairperson, Vice-chairperson and permanent members are appointed for up to two five-year terms. The second term of the Chair of the Tribunal expires in July 2020. One permanent member's term expires in January 2020.

Canadian Payments Association

• The Minister is consulted by the Canadian Payments Association Board of Directors on appointments to the Stakeholders Advisory Council.

Canadian Securities Regulation Regime Transition Office

• President, or two co-presidents acting jointly, is appointed by the Governor in Council on the recommendation of the Minister.
• An advisory committee to the Canadian Securities Transition Office of up to 13 members was originally designed to engage the provinces and territories when a common securities regulator was pursued as a federal initiative.
• Status:
  • The appointment of the current President of the Canadian Securities Regulation Regime Transition Office, Douglas Hyndman, expires on September 30, 2020.
  • As the advisory committee is no longer active, no vacancies need to be filled.

Capital Markets Regulatory Authority (CCMR)

• Pursuant to the Memorandum of Agreement Regarding the Cooperative Capital Markets Regulatory System (MOA), the Council of Ministers of participating jurisdictions is responsible for appointing the board of directors of the Capital Markets Regulatory Authority (CMRA).
• Status: The Council of Ministers appointed the initial board of directors of the CMRA in July 2016. *Sentence redacted*

European Bank for Reconstruction and Development

• The position of Governor is an automatic appointment upon being sworn in as Minister of Finance. The Alternate Governor is appointed by the Governor in Council on the recommendation of the Minister. Neither appointment has a term limit.

Financial Consumer Agency of Canada (FCAC)

• Commissioner is appointed by the Governor in Council. As a matter of practice, the Minister makes the recommendation to the Governor in Council.
• In the event of absence, incapacity or position vacancy, the Minister may appoint a person to act in the position for up to 90 days without Governor in Council approval or for more than 90 days with Governor in Council approval.
• Status: The appointment of the current Commissioner of the FCAC, Judith Robertson, expires on August 18, 2024.

Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

• The Director is appointed by the Governor in Council for a term of not more than five years. The Director is eligible for reappointment and may serve up to a maximum of ten years in office. As a matter of practice, the Minister makes the recommendation to the Governor in Council.
• In the event of absence or incapacity of the Director, or if the office is vacant, the Governor in Council may appoint an acting Director for a term of not more than six months, with all of the powers, duties and functions of the Director.
• Status: The appointment of the current Director of FINTRAC, Nada Semaan, expires on March 4, 2023.

The World Bank Group (International Bank for Reconstruction and Development; International Finance Corporation; the International Development Association; Multilateral Investment Guarantee Agency; the International Center for Settlement of Investment Disputes)

• The position of Governor is an automatic appointment upon being sworn in as Minister of Finance.
• Alternate Governor is appointed by the Governor in Council on the recommendation of the Minister.
• The Governors and Alternates serve for terms of five years and can be reappointed.

International Monetary Fund (IMF)

• The position of Governor is an automatic appointment upon being sworn in as Minister of Finance.
• Alternate Governor is appointed by the Governor in Council on the recommendation of the Minister.
• Neither appointment has a term limit.

Office of the Auditor General of Canada

• The Auditor General is an Officer of Parliament appointed for a non-renewable 10-year term upon resolution of the House of Commons and Senate.
• The most recent Auditor General was appointed in November 2011 but died in office in February 2019. An interim Auditor General, Sylvian Ricard, was appointed in March 2019 and has been approved for re-appointment at the end of September 2019 pending the selection of a new Auditor General.
• The Minister of Finance has been designated as the appropriate Minister for the purposes of the Financial Administration Act.

Office of the Superintendent of Financial Institutions (OSFI)

• Superintendent is appointed to be the deputy head of the Office by the Governor in Council. As a matter of practice, the Minister makes the recommendation to the Governor in Council.
• In the event of absence, incapacity or position vacancy, the Governor in Council may appoint a qualified person to hold office for a term not exceeding six months, and that person shall, while holding that office, have all of the powers, duties and functions of the Superintendent under the Office of the Superintendent of Financial Institutions Act or any other Act of Parliament.
• Status: The appointment of the current Superintendent, Jeremy Rudin, expires on June 28, 2021.

Royal Canadian Mint

• The Chairperson and the President/CEO (Master of the Mint) are both appointed by the Governor in Council, following a selection process led by representatives from the Privy Council Office, supported by the Prime Minister's Office, the Minister's Office and the Department.
• Up to nine other directors are appointed by the Minister with the approval of the Governor in Council.
• Status: One appointment expires on October 17, 2020.

Note: Where not specifically required by statute, Governor in Council appointments within the Finance portfolio are made on the recommendation of the Minister of Finance as a matter of practice.