Board committees

The Board has established the following Committees:

Audit, Finance & Investment Committee: reviews the integrity of financial reporting and disclosure, the associated accounting policies, internal controls, and compliance and legal regulatory requirements, and assesses the financial and investment risks that the Fund is exposed to and ensures that adequate management controls are in place to minimize such risk.

Governance, Nominating & Human Resources Committee: reviews the effectiveness of the Fund’s corporate governance system and the human resource risks that the Fund is exposed to and ensures that adequate management controls and processes are in place to minimize such risk.

Coverage Committee: is responsible for the claims payment process. It is also responsible for recommending Coverage Policy changes to the Board, supervising insolvency proceedings and related litigation, and recommending changes to the CIPF “Disclosure Policy” to the Board.

Industry Risk Committee:
is responsible to monitor the adequacy of Fund resources in relation to the risk it is exposed to due to the failure of a Member. It also ensures procedures are in place to monitor the adequacy of SRO Capital Requirements and to identify and respond to Members that may pose a risk to the Fund.