Board of Directors Resolutions – June/July 2016

June 22

Governance Review:

  • Approved revised Corporate Governance Policy
  • Approved revised Audit and Finance Committee mandate
  • Approved revised Governance Committee mandate
  • Approved revised Health and Safety Committee mandate
  • Approved revised Human Resources and Compensation Committee mandate
  • Approved revised Investment Committee mandate

Board of Directors Skills and Competency Matrix

  • Approved Skills and Competency Matrix for completion by Board members

Board of Directors Evaluation Plan

  • Approved Evaluation Survey and for completion by Board members

June 23

Q1 2016 Report to Stakeholders

  • Approved unaudited Q1 2016 Report to Stakeholders, such document to be posted to WSIB’s external website

Q1 2016 Sufficiency Report

  •  Approved unaudited Q1 2016 Sufficiency Report to stakeholders, such document to be posted to WSIB’s external website

2016 Annual Sufficiency Funding Plan

  • Approved Funding Sufficiency Plan Update, such document to be submitted to the Minister of Labour for approval, and posted to WSIB’s external website subsequent to approval.

Delegation of Powers and Duties

  • Approved Delegation of Powers and Duties and;
  • that the actions taken and the decisions made and purportedly made by officers and employees of the WSIB, in administering the WSIA, 1997 since June 18, 2015, are confirmed as valid exercises of power under the WSIA, 1997 and;
  • that the delegation be updated on an annual basis and that the President and CEO recommend necessary revisions.

Application Support and Maintenance Services Request for Proposal

  • Authorize management to conduct an open and competitive procurement for Information Technology Application and Support Maintenance Services.

External Physician File Review Services Request for Proposal

  • Approve release of RFP for delivery of Medical Consultants file review services and associated expenditures.

Payroll Processing Solution Request for Proposal

  • Approve release of RFP for Payroll Processing Solution services

Compliance Policy

  • Approved the Compliance Policy

Investment Management Corporation of Ontario (IMCO) Pooled Asset Management

1. Endorsed the continued participation of the WSIB in the Pooled Asset Management initiative, in accordance with the Report of the Broader Public Sector Pooled Asset Management Working Group dated February 6, 2015 (the “Final Report”) and establishment of the Investment Management Corporation of Ontario (“IMCO”) under the Investment Management Corporation of Ontario Act, 2015 (IMCO Act), working alongside the Ontario Pension Board (“OPB”) and working with the Ministry of Finance, subject to status updates satisfactory to the Investment Committee of the WSIB Board of Directors on:

  • Continued adherence with the Fundamental Principles;
  • On-going review of cost implications and funding requirements;
  • Preservation of knowledge/skill inside IMCO to sustain WSIB’s Strategic Investment Plan;
  • Acceptable regulation(s) to the IMCO Act, IMCO corporate by-laws and Investment Management Agreement;

2. Affirm that IMCO is intended to promote the pooling of assets across Ontario’s broader public sector, so as to provide the opportunity for organizations beyond the initial members to access investment management and advisory services on a cost recovery basis;
3. Affirm that, as an initial member of IMCO, WSIB has agreed to fund and share with OPB the start-up expenses required to create and operate IMCO until it is self-sufficient, with provision for recovery of a proportionate share of those costs from future members/clients of IMCO;
4. Approve the appointment of Mr. Robert Bertram and Ms. Jacqueline Moss as the WSIB’s two Directors to the initial Board of Directors of IMCO; and 
5. Delegate to the WSIB President and CEO, the authority to:

1. Authorize the naming of the WSIB as an initial member of IMCO in the regulation under the IMCO Act; 
2. Negotiate an Investment Management Agreement (IMA), between the WSIB and IMCO in accordance with acceptable terms and conditions, for the approval of the Board of Directors based on review of applicable fiduciary obligations in accordance with statutory and common law duties regarding investment of the Funds, and independent legal opinion on the Board of Directors’ discharge of fiduciary obligations in engaging IMCO in accordance with the IMA; and
3. Negotiate and execute a Funding Agreement with OPB and IMCO, with each WSIB and OPB contributing a 50% share. Funding beyond 2016 is subject to the receipt of a full start-up budget to be approved by OPB, WSIB and IMCO.

July 18

Workplace Safety and Insurance Act Section 126 Referral

  • Maintain the status quo that the Fatal Claims Premium Adjustment Policy is consistent with and authorized by the Workplace Safety and Insurance Act; and
  • Direct the Workplace Safety and Insurance Appeals Tribunal to apply the existing Policy in this appeal.

Appointment of Acting Fair Practices Commissioner

  • Approved appointment of Anna Martins as acting Fair Practices Commissioner effective August 19, 2016