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Board Director

Position Title: Board Director (2 appointments)
Appointment #1: Finance, accounting and audit background.
Appointment #2: Investments selection and strategy background.
Location: Toronto, Ontario, Canada

COMPANY BACKGROUND

Lawyers’ Professional Indemnity Company (LAWPRO®) is a wholly Canadian owned insurance company that provides professional liability insurance to lawyers in Ontario and TitlePLUS® title insurance coast-to-coast. LAWPRO is headquartered in Toronto, Ontario, Canada.

LAWPRO provides errors and omissions insurance to more than 27,000 members of the Law Society of Ontario. Through its TitlePLUS Program (being the only all-Canadian, bar-related title insurance product), LAWPRO also provides comprehensive title insurance and legal services coverage for residential purchase and mortgage-only/refinance transactions handled by lawyers or Quebec notaries.

Incorporated in 1990 by the Law Society of Upper Canada (now the Law Society of Ontario), LAWPRO has operated independently of the Law Society of Ontario since 1995, with its own management and Board of Directors. For more than 20 years, the LAWPRO team has provided the Ontario bar with cost-effective liability insurance, expert claims administration, and proactive risk and practice management initiatives to help prevent claims.

LAWPRO operates in a commercially viable and responsible manner in accordance with the regulations of the Ontario Insurance Act, the Ontario Corporations Act, and other applicable legislation. LAWPRO’s strong underwriting and claims management underlies its financial strength. LAWPRO has consistently been awarded an “A (Excellent)” rating for its financial strength by A.M. Best Co, a leading rating agency.

LAWPRO’s Board comprises 15 Directors. The Board Committee structure consists of the Executive Committee, Governance Committee, Risk Committee, Investment Committee, Audit Committee, Conduct Review Committee. LAWPRO is currently seeking 2 Board Directors.

VISION, MISSION AND VALUES

VISION
To be regarded as the preferred insurer in all markets and product lines in which we do business.

MISSION
To be an innovative provider of insurance products and services that enhance the viability and competitive position of the legal profession.

VALUES
Professionalism
Individually and as a team, we hold ourselves to the highest professional standards.
We deliver programs and services known for quality and cost-effectiveness, and for being practical, helpful and relevant.
We demand the best of ourselves every day and in everything we do.

Innovation
We foster a climate in which creativity, innovation and change can flourish.
We share ideas, skills and knowledge and encourage continual learning.
We value teamwork and collaboration, and the diverse strengths and perspectives of others.

Integrity
We act with the highest levels of integrity in all of our interactions and decisions.
We aim to always be consistent, fair, ethical and accountable.

Service
We strive for excellence in customer service.
We share our knowledge, experience and expertise with our customers and with each other, so that together we can identify, prevent and solve problems.
We take the time to listen and understand, so we can respond effectively and empathetically to our customers and to each other.
We demonstrate courtesy and genuine respect for all.

Leadership
We try to make the world a better place, and to that end lend our energies and expertise to many communities.

THE BOARD DIRECTOR CANDIDATE PROFILE

KEY EXPERIENCE AND BACKGROUND:
Business and Board experience: A depth and breadth of financial institution experience at a senior executive level, including experience with regulatory and governance issues. Seasoned Board experience in the insurance industry is strongly preferred.

Functional expertise for the first appointment: A demonstrated experience and expertise in finance, accounting and audit.

Functional expertise for the second appointment: A demonstrable knowledge and expertise in investment types and strategies, and portfolio structure and management. A deep knowledge of fixed income products a significant asset.

Familiarity with pending IFRS changes or actuarial science an asset.

EXPECTED CONTRIBUTIONS:
Every Director has a duty to make an objective and constructive contribution towards the effective direction of the corporation’s affairs. Director’s functions include the following:

  • maintaining an objective interest in the agenda and topics placed before the Board;
  • ensuring that the Board receives comment, advice or criticism from the corporation’s auditors,
  • actuaries or other specialists whose role it is, specifically, to advise the Board;
  • making a unique contribution, by way of expertise, judgement or contacts which would not otherwise be available to the Board;
  • assisting the Chair in the selection, assessment and remuneration of the Directors and senior management;
  • acting in an advisory role for specific projects within the corporation, if the director’s experience is applicable, and to become involved as a member of appropriate board committees, by invitation; and
  • questioning information presented to the Board where this is incomplete or departs from the expected and ensuring that the rationale for decision-making is justified.

ESSENTIAL SKILLS AND QUALIFICATIONS:

  • Mental capacity for long-term thinking and planning, and an ability to analyze a situation fairly quickly;
  • Financial comfort: The Director will have financial sense, and a working familiarity with corporate financial statements, accounts and reporting systems.
  • Ability to communicate in a clear and productive manner which moves forward the understanding and resolution of an issue.
  • Non-conflicting involvements: The important attribute is the ability to allocate sufficient time so as to discharge, responsibly and diligently, the obligations of the appointment.
  • Compatible philosophy: A Director must have a business philosophy which is in keeping with the operation of a regulated insurance corporation with complex financial and operational goals.
  • Independence: Independence, both financial and intellectual, is essential so that views can be expressed without constraint.
  • Honesty and integrity demonstrated through the Director’s actions, including the conduct of the Director’s personal and professional responsibilities. A Director should not have (i) a criminal record or a history of inappropriate conduct involving inter alia dishonesty, misappropriation or fraud, (ii) any irregular or reproachable conduct regarding their own personal financial situation or that of any entity by whom they were previously employed or retained in a leadership role, or (iii) been declared by a relevant regulatory authority to be in breach of compliance or to lack integrity in a comparable role.

Every Director must:

  • comply promptly with all requests for information (personal or otherwise) necessary to fulfill management operational needs and corporate regulatory obligations, including consenting to criminal record and credit checks;
  • comply with the conflict of interest policy for directors, including (where applicable) removing oneself, and then abstaining, from engagements opposing the interests of LAWPRO or other lawyer professional liability or title insurance programs, whether as counsel or expert witness;
    attend orientation training for new directors and such on-going training arranged or approved by the Chair from time to time;
  • participate in evaluations or other programs to assess Director qualifications and competencies and/or Board effectiveness, as directed by the Chair.

It is expected that within a reasonable time the Director will have acquired:

  • a sound knowledge of the nature and extent of the LAWPRO business and more generally, the insurance industry;
  • an awareness of the economic, political and social environment in which the business is conducted;
  • an understanding of the availability of financial resources and the level of current and proposed investments; and
  • an introduction, through the President & CEO, to senior persons responsible for the corporation’s operational management.

LAWPRO is committed to complying with the Accessibility for Ontarians with Disabilities Act, 2005. Please be advised that accommodation is available in our recruitment processes to all applicants with disabilities, upon request.

AMROP KNIGHTSBRIDGE CONTACT INFORMATION

Please forward a confidential expression of interest (cover letter and current resume) to: Ed Perkovic, Vice President, Search Delivery – [email protected]

Should you have any questions regarding this opportunity to be part of a dynamic and collegial Board of Directors, please contact:

Ed Perkovic, Vice President, Search Delivery [email protected] 416- 640-4311

Janice Kussner, Partner [email protected] 416- 640-4313

Glenda Goodman, Director, Search Operations [email protected] 416- 640-4308

ABOUT AMROP KNIGHTSBRIDGE – www.amropknightsbridge.com

Amrop Knightsbridge is a leading executive search firm with offices across Canada and partner offices around the globe. Amrop Knightsbridge is an integral part of LHH Knightsbridge, a human capital management organization comprising teams of specialists with an integrated perspective across recruitment, leadership and organizational development, learning, and career and workforce management. Solutions are customized to fully meet client specific needs, maximizing investments in people and achieving optimal organizational and business productivity and performance. LHH Knightsbridge has been recognized over multiple years as one of Canada’s Top 50 Best Managed Companies. Further LHH Knightsbridge information is available at www.lhhknightsbridge.com.


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