Scott Travers, Sean Murray and Nancy Tower are just three of the 13 business leaders who volunteer their time to sit on NSBI's private-sector board of directors. Since NSBI's inception in 2001, the directors, who are nominated by a committee of the board and approved by Cabinet, have included prominent Nova Scotia business people — from presidents and CEOs to lawyers and entrepreneurs.
Coming from different backgrounds, industries and communities, these leaders gather together as a full board close to a dozen times a year to fulfill a range of responsibilities. These include, but are not limited to overseeing NSBI's corporate governance framework, reviewing and approving quarterly and annual financial reports, overseeing the agency's strategic planning, identifying and monitoring major risks facing NSBI and approving transactions within board limits.
The directors also meet regularly as members of the audit, human resources governance and investment committees of the board. Each committee has its own responsibilities, which include:
Audit Committee: Overseeing NSBI's financial reporting, assessing its internal controls and risk environment, and reviewing the report prepared by NSBI's external auditor.
Human Resources Governance Committee: Making sure appropriate HR policies are in place, managing the recruitment process for new board members, and developing and overseeing NSBI's corporate governance policies.
Investment Committee: Overseeing NSBI's investment framework and policies, monitoring the performance of the corporation's investment portfolio, and recommending transactions outside its approval limit to the full board for approval.
During their terms, the directors of the board stay hands-on by collaborating with NSBI employees, government stakeholders and local businesses to guide the agency in meeting its primary goal: to expand business activity in Nova Scotia.
So what drives these Nova Scotia business people to volunteer their time? Listen to past board chair Doug Hall as he shares his reasons and learn more about NSBI's incoming board chair, Jim Eisenhauer.