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Governance at BDC Michel Bergeron VP, Corporate Relations.

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Presentation on theme: "Governance at BDC Michel Bergeron VP, Corporate Relations."— Presentation transcript:

1 Governance at BDC Michel Bergeron VP, Corporate Relations

2 Outline 1.An introduction to BDC 2.Canada’s approach to governance 3.Governance at BDC 4.Creating an environment conducive to proper governance

3 An Introduction to BDC Mandate: To create and develop Canadian Small and medium sized businesses (SMEs) Services offered to SMEs:  Financial Services:  Term financing (direct)  Venture capital (direct and indirect)  Consulting services  Close to 10B Cdn$ outstanding financing (approx. 9B US$)  94 branches  1,700 employees  27,000 clients

4 BDC Canada’s approach to governance:  Arm’s length = Autonomy  Counterbalanced by Accountability and Transparency  Need to have clearly defined roles and structures through a well defined legal framework

5 Canada’s Governance Framework Parliament of Canada Minister of Industry BDC Board of Directors BDC Management BDC Act Financial Administration Act

6 Parliament’s Oversight:  Annual Report (every year): Public 2 Auditors Private  Corporate Plan (every year)  Special Exam (every 5 years)  Legislative Review (every 10 years)  Access to Information Act (ongoing)

7 A fine balance between:  Autonomy: non-partisan, non political provider of service in charge of its operations able to resist inappropriate pressure has a Board of Directors comprised of independent directors  Accountability: Management Board Minister Parliament

8 Workplace environment  Core Values –Ethics –Client connection –Team spirit –Accountability –Work-life balance  Employee Code of Conduct, Ethics and Values  Cases of wrongdoing: referred to Audit Committee  Referral Policy

9 A closing remark  State-Owned Institutions: –people hold them to a higher standard  Laws and regulations: –lagging indicators of society’s expectations  Our approach: –scan for rising expectations –follow best practices (often from the private sector peers) –try to always stay ahead


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