NSBI directors hail from all corners of the province and bring expertise and experience from diverse industries. In this way, we are able to provide NSBI with strong, representative leadership, and a grassroots connection to the impact of our economic development and investment decisions.

2010/2011 marked my first year as a board member, and I have been impressed with the commitment and vision of this volunteer board. This past fiscal was a transition year for our board, with the appointment of some new members to replace board members whose terms had come to an end. While this evolution signals an opportunity to leverage fresh insight and direction, the board’s key activities and commitments remain steadfast.

Due diligence and adherence to rigorous corporate governance standards guide the action of our board, which is comprised of respected business leaders from communities across Nova Scotia. Our role is to provide guidance and governance for NSBI business activities.

At the end of the day, it’s about making an impact.

This year, the full board met close to a dozen times to:

• Oversee the corporate governance framework
• Review and approve quarterly and annual financial reports
• Oversee the strategic business planning process
• Identify and monitor major risks facing the corporation
• Monitor the integrity of the corporation’s internal control systems
• Approve financial transactions within board limits

In addition, subcommittees of the board met throughout the year to review business related to their mandates. The audit committee is responsible for NSBI’s financial reporting, while the human resources governance committee ensures appropriate HR policies are in place, manages the recruitment process for new board members, and develops NSBI corporate governance policies. Finally, our investment committee oversees NSBI framework and policies, monitors the performance of NSBI’s investment portfolio, and recommends transactions outside its approval limit to the full board.