Canada Development Investment Corporation
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Canada Development Investment Corporation
President and Chief Executive Officer
Application Review Date:
October 1, 2020
Canada Development Investment Corporation (CDEV), a federal Crown corporation, is the Government of Canada’s primary resource for the evaluation, management and divestiture of its commercial assets. CDEV’s primary objective is to carry out its activities in the best interests of Canada, operating in a commercial manner. The Corporation reports to Parliament through the Minister of Finance.
In addition to certain activities of its own, CDEV has four wholly-owned subsidiaries: Canada Hibernia Holding Corporation (CHHC), Canada Eldor Incorporated (CEI), Canada Enterprise Emergency Funding Corporation (CEEFC) and Canada TMP Finance Ltd. CHHC owns and manages the federal working interest in the existing Hibernia offshore oil development project. CEI has no operations, but has responsibility for servicing liabilities, chiefly arising from the 1988 agreement of purchase and sale with Cameco Inc. CEEFC is the administrator of the Government’s Large Employer Emergency Financing Facility (LEEFF). Canada TMP Finance is the parent of the Trans Mountain Corporation (TMC), and TMP Finance’s primary responsibility is to provide financing to TMC. TMC has a mandate to operate the existing Trans Mountain Pipeline and to complete the Trans Mountain Expansion Project in a timely and commercially viable manner. In 2019, the Government assigned to CDEV responsibility for the administration of Canada’s net profits interest and incidental net profit interest in the Hibernia project.
The President and Chief Executive Officer has the primary responsibility to provide leadership, strategic guidance and oversight to the Corporation and its subsidiaries to ensure that the Corporation is fulfilling its mandate and that commercial assets and special projects assigned to it by the shareholder (i.e., the Government) in a commercial manner. The President and Chief Executive Officer works to ensure that the Corporation and its subsidiaries are managed in an accountable and transparent manner by providing effective stewardship and oversight for the Corporation’s management of human resources and financial resources. The President and Chief Executive Officer may also serve as a director or officer on CDEV’s subsidiary corporations. The President and Chief Executive Officer reports to the Board of Directors of CDEV.
Further details about the Corporation and its activities can be found on its website.
Official Languages and Diversity
The Government of Canada will consider bilingual proficiency and diversity in assessing applicants. You are therefore encouraged to include in your online profile your ability to speak and understand your second official language. Preference may be given to applicants who are members of one or more of the following groups: women, Indigenous peoples, persons with disabilities, and members of a visible minority group.
To be considered, please ensure that the information provided in your curriculum vitae and cover letter clearly demonstrate how you meet the following requirements:
Education and Experience
Candidates must have a degree from a recognized university in a relevant field of study (e.g., finance, commerce, accounting, law, etc.) or an acceptable combination of equivalent education, job-related training or professional experience;
The following experience qualifications will be considered when assessing Candidates:
Extensive experience in one or more senior positions with responsibility for profitability, for a medium or large commercial organization or Crown corporation;
Extensive experience in managing corporate finance transactions or mergers and acquisitions, including privatization transactions (asset and share deals), structuring and negotiating sales to third parties through private sales, auction processes or public offerings;
Experience in oversight of subsidiaries, including monitoring performance and ensuring structures are in place to ensure proper financial reporting, sound governance, preparation of corporate plans and management of risk;
Experience in recruitment, retention, leadership and management of a small team of highly skilled individuals;
Experience in leading a project-driven organization that has considerable variation in its activity levels;
Experience in making major decisions or providing recommendations regarding major decisions which have large financial and public policy implications;
Experience in finance (e.g., banking, capital markets, institutional finance, corporate finance, project finance) and a track record in one or more of these areas;
Experience reporting to an independent Board of Directors; and
Experience dealing with central government ministries, preferably senior government officials (asset).
If you move on to the next stage of the selection process, the following criteria will be assessed:
Knowledge, Skills and Abilities
Knowledge of the mandate and activities of CDEV;
Ability to lead investment bankers, legal advisors and other consultants in divestitures and provide market insight to the Government;
Appreciation of the role of Crown corporations – knowledge of best practices with regard to accountability and reporting for Crown corporations would be an asset;
Mature policy and financial judgment, supported by prior experience, including an ability to assess and manage risk;
Knowledge of corporate finance and business valuation methods;
Knowledge of how merger and acquisition transactions are carried out;
Demonstrated strengths in communication and leadership, including holding the confidence of directors, shareholders, employees and other stakeholders;
Solid track record in operating in a complex business environment involving many different stakeholders’ groups including Indigenous peoples;
Ability to operate in a project-driven environment where projects can arise on short notice and to assess and set priorities, focus on what is important and manage the vision, strategies, priorities, long-term goals and policy framework targets for CDEV and its subsidiaries;
Ability to recognize and manage the creative tension with the Board of Directors;
Ability to recognize and address emerging issues, to seize opportunities, and to advance ideas and innovation; and
Commitment to the Canadian public interest.
Proficiency in both official languages would be preferred.
If you move on to the next stage of the selection process, we will contact your references to confirm that you meet the above selection criteria and that you possess the following Personal Attributes:
Strategic and innovative leadership
Unblemished record of ethical behaviour, integrity and accountability
Superior interpersonal skills
Tact and diplomacy
Eligibility Factors and Conditions of Employment
Appointees must comply with the Ethical and Political Activity Guidelines for Public Office Holders throughout their appointment as a term and condition of employment. The guidelines are available on the Governor in Council Appointments website under the Forms and reference material.
All appointees are subject to the Conflicts of Interest Act. Public office holders appointed on a full-time basis must also submit to the Office of the Conflict of Interest and Ethics within 60 days of appointment, a confidential report in which they disclose all of their assets, liabilities and outside activities. For more information, please visit the Office of the Conflict of Interest and Ethics Commissioner's website.
Appointees must uphold the highest standards of probity and are expected to demonstrate behaviours in the workplace that afford respect, equality and dignity, to everyone they interact with at work at all times. The Values and Ethics Code for the Public Sector outlines the values and expected behaviours for public servants, including valuing diversity and creating workplaces free from harassment and discrimination. Governor in Council appointees are expected to uphold and respect these values and principles in a positive and active manner.
As a Governor in Council appointee, you are subject to the Conflict of Interest Act. The President of CDEV is also subject to the conflict of interest provisions in the Financial Administration Act and the Canada Business Corporations Act as well as those in CDEV’s by laws. CDEV’s President is also subject to a CDEV-specific Code of Conduct and the Value and Ethics Code for the Public Sector, including conflict of interest guidelines. These statutes and guidelines will not necessarily prevent a person with a conflicting interest from becoming President but will limit the ability of that individual to participate in decisions of the Board on certain matters in which the President had a conflicting interest.
You reside in or are willing to relocate to Toronto or to a location within reasonable commuting distance.
You are willing to travel across Canada and internationally.
A link to this notice will be placed in the Canada Gazette to assist the Governor in Council in identifying qualified candidates. It is not, however, intended to be the sole means of recruitment.
A list of qualified candidates may be established and may be used for similar opportunities.
How to Apply
Review of applications will begin on October 1, 2020. Candidates must apply online via the Governor in Council Appointments website. Candidates are strongly encouraged to submit their applications by this date. After this date, your application will be retained and may be considered up until an appointment to the position is made. Your cover letter should be addressed to the Deputy Director of Selection Processes, Senior Personnel Secretariat, Privy Council Office, and should be sent only through the online application.
Instructions on how to apply for an appointment opportunity can be found on the Governor in Council Appointments website.