Notice of Vacancies / Expression of Interest
October 17, 2007
[ Trustees (nine part-time positions) | Qualifications of Individual Trustees | Qualifications of Trustees as a Whole ]
Trustees (nine part-time positions)
On April 20, 2007, Canada’s Government announced a $300 million First Nations Market Housing Fund (Fund) that will give First Nations people living on reserve a better chance to own their own home.
At present, it is difficult for someone living on-reserve to obtain a housing loan because the land belongs to the community and not the individual. This makes traditional forms of mortgage security inappropriate.
The new Fund will help individuals on-reserve and on settlement lands, where the land is held communally, to obtain loans. The Fund will provide financial backing to First Nations that meet certain criteria, such as a demonstrated ability to manage their finances, loans and housing.
Once the Fund qualifies a First Nation, it will provide financial backing to that First Nation. The Fund’s backing will allow the First Nation to negotiate an arrangement with a lender or lenders to allow its members to obtain housing loans. The First Nation would provide primary financial backing to members on-reserve who want to obtain housing loans to live on-reserve.
Once the First Nation has negotiated the arrangement with the lender or lenders, members of that First Nation will be able to apply for a housing loan, in a similar way households do off-reserve, with similar lending terms and conditions. Lenders will review the value of the house, the borrower’s income and the borrower’s ability to repay a loan when their other expenses are considered. Assuming the borrower meets the lender’s criteria, he or she would be approved for a loan.
The lender can only access the Fund if the Borrower fails to repay the loan and the First Nation does not honour its obligation to step in, using its own resources, to remedy the default.
The Fund will be established through an indenture of trust. The Fund will be set up as a long-term, stand-alone, self-sufficient, actively operating trust. This will allow the Fund to deal with First Nations, lenders, loan insurers and others, as a separate entity. The head office of the Fund will be located in Ottawa, Ontario.
The Fund will have nine Trustees, including a chairperson, appointed by Ministers and drawn from three groups. Three will be drawn from First Nations, and six will be drawn equally from the private sector finance community and the federal government community.
Canada Mortgage and Housing Corporation (CMHC) will manage the day-to-day activities of the Fund in the initial years, under the supervision of the Board of Trustees.
Trustees must provide governance and leadership, and be stewards of the Fund. Trustees are responsible for overseeing the Fund’s governance policies and practices and they are responsible for guiding the direction of the Fund to achieve its objectives. As stewards of the Fund, the Trustees will supervise the management of the business and affairs of the Fund.
To fulfill the roles and responsibilities of the Trustees, the Government of Canada is seeking men and women, from across Canada, including members of First Nations, representing a broad range of professional and business skills and experience who are committed to assisting First Nations in developing market-based approaches to housing on-reserve.
The appointing Ministers will search for Trustees who possess the qualifications and skills described below. Moreover, the Ministers will evaluate each individual candidate in the context of the overall composition and needs of the Fund, with the objective of appointing a group that can best manage the business and affairs of the Fund and represent the Fund’s interests using its diversity of experience. Thus there are certain qualifications each individual Trustee must possess and those qualifications that Trustees as a whole must possess.
Qualifications of Individual Trustees
Each Trustee must have the desire to assist First Nations in developing market-based approaches to housing provisions on-reserve, and shall have minimum expertise and qualifications in relation to the following areas discussed below.
The successful candidate must have career experience and expertise relevant to the Fund’s purpose, financial responsibilities and risk profile. Trustees must be able to read and assess financial and investment statements and understand financing arrangements.
The suitable candidate must demonstrate well developed listening, communicating and influencing skills so that the individual Trustees can actively participate in board discussions and debate. Trustees must be prepared to devote time to serve effectively and must be willing to travel to attend meetings. They must demonstrate integrity and high ethical standards.
Trustees must have an understanding of First Nations economic and social issues and an awareness of the impact of organizational issues, policies and decisions, the capacity to be sensitive to the differing needs of multiple stakeholders and the capacity to influence others in order to have a specific impact or effect.
Each Trustee must be prepared and able to fulfill their fiduciary duty to the Trust with no conflict of interest (actual or perceived) between themselves and the best interests of the Trust.
All Trustees should demonstrate through references, civic duties, and/or prior elected positions a history of ethical and responsible behaviour.
Further, trustees must demonstrate computer literacy with access to Internet and be familiar with office technology.
Qualifications of Trustees as a Whole
As a whole, the Trustees shall possess expertise and qualifications in the following areas: investment management, financial accreditation, training and education, human resources management, legal, housing finance, and housing on-reserve and housing finance on-reserve.
Further, Trustees as a whole must possess the ability to contribute effectively to the ongoing viability of the Trust and its compliance with the indenture of trust. The Trustees as a whole must have an understanding of First Nations’ land tenure and legislation affecting First Nations’ lands and an understanding of First Nations’ issues and challenges.
The Government is committed to ensuring that its appointments are representative of Canada’s regions and official languages, as well as of women, Aboriginal peoples, disabled persons and visible minorities.
Trustees will hold office on a part-time basis for terms averaging three years and will be remunerated in accordance with Privy Council Office guidelines for part-time appointees in agencies, boards and commissions. However, these positions are not government positions.
This notice will assist the Ministers in identifying qualified candidates for this position. This is not intended to be the sole means of recruitment. Applications forwarded through the Internet will not be considered for reasons of confidentiality.
This is an opportunity to serve the public interest in a part-time capacity (estimated at 10 – 15 days per year), with modest remuneration. If you would like to be considered to be part of the FNMHF and you have the qualifications necessary to fulfill the role of Trustee, please send a signed letter stating with which group you identify, that is First Nations, the private sector finance community, or the federal government community or any combination of the three groups. Include your contact information, reasons supporting the submission and attach your resume by November 19, 2007 to the following fax number or address:
First Nations Market Housing Fund Trustee Application
c/o Canada Mortgage and Housing Corporation
700 Montreal Road, Suite 1000
Ottawa, ON K1A 0P7
Fax: 1-800-245-9274
Notice regarding privacy: Personal information will be treated in accordance with applicable federal privacy legislation. The selection process may include consultation with third parties who may discuss applications further with others. Accordingly, confidentiality cannot be assured.
Additional information on the FNMHF can be found here or call 1-800-668-2642.
We sincerely thank all candidates for their interest: however; only those selected will be contacted.
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