Investment Committee Member
2 days left
At WorkSafeBC, we're dedicated to promoting safe and healthy workplaces across British Columbia. We partner with workers and employers to save lives and prevent injury, disease, and disability. When work-related injuries and diseases occur, we provide compensation, and support injured workers in their recovery, rehabilitation, and safe return to work. We're honoured to serve the 2.4 million workers and 245,000 registered employers in our province.
As an insurer, we have a significant responsibility to ensure the financial viability of the compensation system through the management of the Accident Fund. We take a prudent approach to managing the premiums collected from employers to ensure sufficient funding for current and future claims and benefit costs and administration. We are committed to sound financial management through strategies and programs to manage costs, maintain investment returns, and ensure the long-term financial sustainability of the system for the benefit of workers and employers.
The WorkSafeBC Board of Directors is responsible for the management of the Accident Fund (approximately $20 billion) and must manage it with a view to the best interests of the workers' compensation system. To assist the Board of Directors in this responsibility, they have established an Investment Committee to oversee the Accident Fund and to implement the Board of Directors’ Statement of Investment Policies and Goals. Day-to-day investment management is provided by the BC Investment Management Corporation (BCI). As well, the Investment Committee is supported by WorkSafeBC’s Investment department in meeting its reporting requirements to the Board of Directors.
Over the past few years, BCI has been undergoing a significant transformation to increase its internal management of client funds, utilize more sophisticated investment strategies to enhance risk-adjusted returns, and modernize its systems. This has resulted in increasingly more complex functions and strategies for the Investment Committee to oversee, review, and consider for recommendation to the WorkSafeBC Board of Directors.
WorkSafeBC is commencing a search for up to three individuals with institutional investment expertise to sit as independent voting members commencing January 1, 2021 or earlier. Committee members are expected to prepare in advance for and normally attend committee meetings in person. Currently, however, meetings will be conducted virtually until the COVID-19 pandemic restrictions are lifted. There are four committee meetings per year, consisting of three one-day meetings in Vancouver and one two-day meeting in Victoria, B.C. Committee members may also be asked to participate in ad-hoc meetings, when needed.
The preferred candidates will have extensive institutional investment experience in management and/or governance oversight roles. Ideally, the candidates will bring specific experience that may include any number of the following: fixed income and equity investments, private assets or alternative investments (e.g., infrastructure and renewable resources, real estate, private debt and equity, and hedge funds); actuarial and accounting liability; global scope; risk management and/or governance. Strong communication and relationship skills are required. Candidates must be comfortable applying their expertise and experience in a respectful and candid way when working with fellow Investment Committee members, WorkSafeBC management and the Board of Directors.
Please submit your resume by October 23, 2020 to WorkSafeBCIC@worksafebc.com.