At Calgary Co-op four committees form the backbone of our governance model. The Audit, Governance, Human Resources, and Nominations Committees all provide oversight to the Board’s most complex areas.
The Governance Committee ensures the Board adheres to best practices and high standards in its governing processes and decision making as appropriate for a co-operative of our size. Over the years, this committee has developed structures and processes to ensure effective Board governance and oversight of our Co-op. The Governance Committee will provide direction for an effective and safe Annual Meeting of members, strategic guidance for board operations including oversight of the director election, board role optimization, new director orientation, board and committee performance assessments, as well as board succession planning. The Governance Committee will also review Calgary Co-op’s bylaws or Code of Conduct to ensure they are current and align with our co-operative.
The Human Resources Committee has oversight on matters like Calgary Co-op’s relationship with the CEO, as well as human resources policies and plans, including health and safety, and our compensation and benefits plans. The Human Resources Committee may review and recommend goals and objectives relevant to the performance and compensation of the CEO, as well as compensation and benefit plans for executive management, management, as well as non-union, non-management employees. Human resource policies and practices related to labour relations and collective bargaining succession planning and Calgary Co-op’s health & safety program also fall under the umbrella of this committee.
The Nominations Committee oversees Co-op’s nomination and election process on behalf of the Board. The Nominations Committee aims to attract qualified members to run for election to the Board and to identify applicants who can best fill any skills gaps on the Board. Calgary Co-op seeks to maintain a Board comprised of talented and dedicated directors with a diverse mix of expertise, experience, skills and backgrounds.
The Audit Committee maintains oversight over the financial reporting, internal controls, risk, and internal and external auditing. This typically involves reviewing the financial integrity of Calgary Co-op’s financial statements and financial reporting, and ensuring all financial reporting complies with applicable accounting principles and regulatory requirements. Internal audits may be also completed to find opportunities for improvement.