Director, Public Sector Pension Investment Board

The Public Sector Pension Investment Board (PSPIB) is a Crown corporation established by Parliament through the Public Sector Pension Investment Board Act to invest the amounts transferred by the Government of Canada for the pension plans of the federal public service; the Canadian Armed Forces – both Regular Force and Reserve Force; and the Royal Canadian Mounted Police. As of March 31, 2020, net assets under management were valued at $169.8 billion. The objectives of the PSPIB, also known commercially as PSP Investments, are to manage the funds in the best interests of the contributors and beneficiaries, and to invest its assets with a view to achieving a maximum rate of return without undue risk of loss, having regard to the funding, policies, and requirements of the pension plans and their ability to meet their financial obligations.

A substantial time commitment (a minimum of 35 days annually) is expected of directors for participation in meetings, preparation for meetings, and travel. Additional time commitment is expected from any director serving as the Chair of the Board or as Chair of a Committee. All directors are expected to continuously strengthen their understanding of investment management and other related skills, including by participating in Director Orientation and Education Programs. Further information on the operations of the Board of Directors, its Committees, and expectations for directors can be found in the 2020 Annual Report.

Further details about the Board’s activities can be found on the PSP Investments Web site. Legislative requirements can be found in the Public Sector Pension Investment Board Act.

Diversity and Official Languages

The Government of Canada will consider bilingual proficiency and diversity in assessing applicants. You are therefore encouraged to include in your online profile your ability to speak and understand your second official language. Preference may be given to applicants who are members of one or more of the following groups: women, Indigenous peoples, persons with disabilities, and members of a visible minority group.

Education and Experience

• Experience as a CEO or C-suite executive;


• Governance experience serving on the board of a highly respected company;


• Proven track record of leadership and management in a business or functional role at a large or complex company;


• Experience managing a business with United States and/or international operations;


• Expertise in public or private markets (e.g., credit investments, private equity, private debt, infrastructure, real estate, natural resources) or capital investments;


• Academic and professional credentials may include a combination of:
  
  
  
  • Undergraduate or graduate degree in Economics, Law, Business or Commerce; and
  
  
  • Expertise as a Qualified Financial Expert, Canadian Institute of Actuaries (FCIA) or Chartered Financial Analyst (CFA).
  
  
  
  


• Experience in corporate social responsibility and responsible investing are assets that will be strongly considered.

Knowledge, Skills and Abilities

• Strong financial literacy;


• Excellent understanding of the role of a director;


• General knowledge of pensions, investments and risk management;


• Ability to analyse and ask relevant questions at the strategic level; and


• Ability to consider the perspectives of different stakeholders.

Language Requirements

Proficiency in both official languages would be preferred.

• Sound judgement;


• High ethical standards, integrity, and accountability;


• Awareness of the impact of organizational issues, policies, and decisions on public interest and concern;


• Highly motivated and committed to excellence.

Eligibility Factors and Conditions of Employment

• Appointees must comply with the Ethical and Political Activity Guidelines for Public Office Holders throughout their appointment as a term and condition of employment. The guidelines are available on the Governor in Council Appointments website under the Forms and reference material.


• All appointees are subject to the Conflicts of Interest Act. Public office holders appointed on a full-time basis must also submit to the Office of the Conflict of Interest and Ethics within 60 days of appointment, a confidential report in which they disclose all of their assets, liabilities and outside activities. For more information, please visit the Office of the Conflict of Interest and Ethics Commissioner's website.


• Appointees must uphold the highest standards of probity and are expected to demonstrate behaviours in the workplace that afford respect, equality and dignity, to everyone they interact with at work at all times. The Values and Ethics Code for the Public Sector outlines the values and expected behaviours for public servants, including valuing diversity and creating workplaces free from harassment and discrimination. Governor in Council appointees are expected to uphold and respect these values and principles in a positive and active manner.


• You are not less than 18 years of age. (statutory)


• You are not of unsound mind and have not been so found by a court in Canada or elsewhere. (statutory)


• You do not have the status of a bankrupt. (statutory)


• You are not an employee of the Public Sector Pension Investment Board, an agent or employee of Her Majesty in right of Canada, a member of the Senate or House of Commons of Canada, or a member of a provincial legislature. (statutory)


• You are not entitled to or subject to, and you have not been granted, a pension benefit under the Public Service Superannuation Act, the Canadian Forces Superannuation Act, or the Royal Canadian Mounted Police Superannuation Act; or a superannuation or pension benefit of a prescribed kind that is payable out of the Consolidated Revenue Fund and is chargeable to a Superannuation Account or another account in the accounts of Canada or is payable out of a fund. (statutory)


• You are not an agent or employee of the government of a foreign country or any political subdivision of a foreign country. (statutory)


• You are a resident and/or citizen of Canada. (statutory)


• You are willing to travel across Canada when travel opportunities resume.

A link to this notice will be placed in the Canada Gazette to assist the Governor in Council in identifying qualified candidates. It is not, however, intended to be the sole means of recruitment.

A list of qualified candidates may be established and may be used for similar opportunities

How to Apply

Review of applications (more information available here) will begin on April 21, 2021. Interested individuals should forward their curriculum vitae to Russell Reynolds Associates by email at pspibboarddirector@russellreynolds.com. Your curriculum vitae must demonstrate that you meet the requirements of this position. A covering letter may also be submitted.

We thank all applicants for their interest. However, only those candidates who are chosen to advance in the selection process will be contacted.