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SYSTEM RELEASE - Thursday, December 20, 2018

Concentra Bank Call for Directors

On behalf of the Board of Directors of Concentra Bank, we are pleased to invite applications from qualified candidates to serve on the 2019/20 Concentra Bank Board of Directors.

In November 2018, the Board of Directors approved a bold new vision for Concentra Bank, embarking on a plan to evolve and grow into a diversified, top-tier performing company delivering greater value to employees, customers and owners.  We are looking for smart and bold leaders to sit on our Board of Directors to help us achieve that goal.

The Process
Concentra employs a competency-based approach to ensure selection of highly qualified, experienced candidates, capable of fulfilling the Board's legal role and responsibilities.  In selecting new nominees, we consider the diversity of Concentra Bank's national stakeholder and customer base, representation from the credit union system and the broader financial industry, independence requirements, and the diversity of Concentra Bank's national stakeholder and customer base. Specifically, in relation to gender diversity, Concentra Bank aims to achieve a full Board composition in which each gender comprises at least one-third of the Directors.

Within this context, the Concentra Bank Board of Directors will present to shareholders, at the 2019 Annual General Meeting, strong and diverse nominees to represent their interests on the Board of Directors, serving to ensure governance and oversight in the best interests of the company, its shareholders and all stakeholders.
Concentra Bank Board
The Concentra Bank Board comprises 12 Directors. Together, the Board is accountable for effective governance of Concentra's operations and for fulfilling its legal role and responsibilities under Canada's Bank Act, its Bylaws and applicable legislation and regulations.

Concentra Bank operates a wholly owned subsidiary, Concentra Trust. Individuals elected to serve on the Concentra Bank Board may also serve as the members of the Board of Concentra Trust.
Required Competencies and Candidate Experience:
Concentra Bank is a federally regulated institution, directed by the Office of the Superintendent of Financial Institutions (OSFI). As such, Concentra Bank must be proactive in seeking qualified candidates for the Board of Directors—those who have the financial, governance, and risk expertise appropriate for the prudent oversight of an organization of the size and complexity of Concentra.  

Concentra Bank is specifically seeking individuals with either Information Technology Sector or Talent Management and Executive Compensation expertise. 

In addition to having the appropriate skills, expertise and competencies, the ideal candidate will:

  • have high ethical standards,
  • have achieved prominence in their business or professional activities,
  • have the ability to perform in a collaborative environment, and
  • be able to voice individual opinions and logical reasoning to support well-informed board decision-making
  • understand and support cooperative values.
Application Process:
All candidates for directorship will undergo a robust evaluation process to ensure those put forward as nominees recommended for election are fully qualified to fulfill their responsibilities.  
More information can be found at Applicants are encouraged to contact Boyden executive search at (403) 410-6700 for further details on the process and/or the expectations associated with being a Concentra Bank director.  All applications must be received by Concentra Bank by January 15, 2019. To apply, you can direct applications to