Become a Nova Mutual Director

Role: Director- Nova Mutual Board of Directors
Type: Board of Directors
Location: Remote/Jarvis/Simcoe

About the Company

With roots dating back to 1867, Nova Mutual has protected clients when they need it the most specializing in Agriculture, Commercial Home and Auto insurance. With a team of dedicated professionals, we have established ourselves as one of the leading Mutual Insurers in Southern Ontario.

A people-focused organization has allowed us to create a Vision and Strategy that wraps our service and product offering around people like you in communities like ours. We live our people focus in all that we do, our organization prides itself on being creative and flexible while ensuring local communities are receiving the proper Insurance expertise and friendly service at a fair premium.

Position Summary

Download the Director Nomination Cover Letter

Download the Director Nomination Form

The Director is one member of a nine-person Board of Directors, elected by the policy owners to represent their interests as owners of the company. Together as a Board, the Directors govern the organization which includes setting the strategic direction for the company, determining corporate policies, hiring the President and overseeing the management of

the company.

Responsibilities

The Director has two levels of responsibility — as an individual, and as a member of the Board of Directors.

Individual Responsibilities

As an individual member of the Board, the Director must be willing to:

  1. Attend meetings of the Board and assigned Committees;
  2. Stay informed and contribute to discussion and decisions of the Board;
  3. Be prepared for each Board and Committee meeting;
  4. Maintain effective communication with other members of the Board and the President;
  5. Participate fully in meetings with relevant questions and comments while being open to ideas and respectful of each other;
  6. Maintain a level of expertise as needed to effectively contribute to the governing capability of the Board;
  7. Abide by the Code of Conduct, Conflict of Interest policies and all By-Laws of the Corporation.

 

Board Responsibilities

Acting collectively, the Directors must:

  1. Establish and periodically review the organization’s vision, mission and core values;
  2. Devise strategies and policies that implement the organization’s vision, mission, values, goals and objectives;
  3. Be responsible and accountable for the governance and direction of the organization;
  4. Plan for the future with strategic planning and succession planning to ensure the continuity of leadership;
  5. Hire and support the CEO and review their performance;
  6. Consult with subject matter experts, including Directors, the CEO, other employees, legal and other expert counsel as needed to make informed decisions;
  7. Advance the organization’s public image;
  8. Strengthen its own effectiveness as a Board.

 

Position Specifications

Directors should meet the following minimum qualifications:

  1. Desire to serve the interests of Nova Mutual and its policyholders;
  2. Be committed to, and act with, the highest ethical standards;
  3. Meet the Director qualifications as outlined in the By-Laws of the corporation:
  • Must be no less than 18 years of age;
  • Must be of sound mind as set out in the By-Laws;
  • Must be an individual;
  • Must not have the status of a bankrupt.
  1. Strong communication skills;
  2. Willingness to learn;
  3. Excellent problem-solving and decision-making skills;
  4. Ability to work effectively as a member of a group – be a team player;
  5. Able to commit adequate time to attend and prepare for meetings of the Board:

. 3-year term;

  • Monthly meeting in Simcoe or Jarvis, Ontario (9);
  • Board Education Day – participation (as part of the board meeting schedule);
  • Board Strategic Planning Session – (2 days);
  • OMIA Conference (late March);
  • Fall Conference (September – October).
  • Conference Calls and Committee participation (6 – 10 times a year);

Remuneration

Directors are paid a per diem amount established annually by the Board of Directors. The per diem is provided for Board, Committee or other approved meeting (planning retreats, seminars, etc.). All expenses incurred directly pertaining to performing a duty as a Director are also paid, when sanctioned by the Board, including travel, meals, accommodation and other expenses.

Directors are also paid an honorarium which may be used to participate in the company’s extended health care plan.

The Company provides Director and Officer Liability insurance coverage for all Directors.

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