How CDIC Is Run

CDIC is a federal Crown corporation created by Parliament. We report to Parliament through the federal Minister of Finance. We work at arm’s length from the government. CDIC was created to insure deposits held in CDIC member banks, trust companies, loan companies and associations governed by the Cooperative Credit Associations Act. Our work is governed by the Canada Deposit Insurance Corporation Act (CDIC Act).

CDIC’s statutory objects and role as a Crown corporation
CDIC’s mandate is set out in the CDIC Act. In 2005 CDIC’s statutory objects were revised following the 2005 Federal Budget. Learn more about CDIC’s statutory objects and role as a Crown corporation.

How CDIC is governed
CDIC is governed by an 11-person Board of Directors made up of the Chairperson, five Directors from the private sector who bring a wealth of practical experience, and five public sector Directors who provide comprehensive knowledge of the financial, supervisory and regulatory environment. The public sector Directors include the Governor of the Bank of Canada, the Deputy Minister of Finance, the Superintendent of Financial Institutions, a Deputy Superintendent of Financial Institutions or an officer of OSFI, and the Commissioner of the Financial Consumer Agency of Canada. Learn more about how CDIC is governed and our Board of Directors.

How CDIC is managed and organized
Day-to-day management of CDIC is done by its Corporate Officers. The President and Chief Executive Officer (CEO) is the executive head of CDIC’s management. The President and CEO provides a link between the Board of Directors and CDIC employees. Learn more about how CDIC is managed and organized, including information about our Corporate Officers.

CDIC is organized into three divisions and one department, all reporting to the President and CEO. Click here for an organization chart showing the relationship between the divisions and the department and the activities each carries out. You can also read a description of the role and responsibilities of each division and the department.

Achieving excellence
CDIC is proud to be the recipient of two important awards that reflect our dedication to transparent reporting, excellence and achievement.

• CDIC has been selected as Deposit Insurance Organization of the Year for 2006 by the International Association of Deposit Insurers (IADI). Learn more.
• CDIC received the 2005 Auditor General of Canada Award for Excellence in Annual Reporting by Crown Corporations. The award, launched in 1994, is given annually. CDIC won the award for the large Crown corporation category. Learn more.