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Board Committees

Audit and Risk Committee

The Audit & Risk Committee is a Standing Committee of the Board of Directors. On behalf of the Board, the Committee oversees the impact and management of financial, and all other risks that affect Tarion Warranty Corporation, except for the Ontario New Home Warranty Plan Act, which is overseen by the Governance & Regulatory Affairs Committee. 

The Committee also oversees the Corporation’s external and management financial reporting; risk framework and reporting; and long-term financial sustainability and reports thereon to the Board.

View Terms of Reference for the Audit and Risk Committee (PDF)

Consumer Committee

The Tarion Consumer Committee has been established to provide guidance, informed opinion and progressive ideas and to make recommendations to the Board of Directors of Tarion Warranty Corporation with respect to the promotion of consumer interests and consumer protection initiatives as they relate to both the mandate of Tarion and to Tarion’s Commitment to New Home Buyers.

View Terms of Reference for the Consumer Committee (PDF)

Governance & Regulatory Affairs Committee

The Governance & Regulatory Affairs Committee has been established to provide guidance to the Board of Tarion Warranty Corporation, and to make recommendations to the Board of Directors. The Committee is also responsible for assisting the Board in fulfilling its oversight responsibilities with regard to Tarion’s specific regulation-making powers as provided in the Ontario New Home Warranties Plan Act.

View Terms of Reference for the Governance & Regulatory Affairs Committee (PDF)

Human Resources & Compensation Committee

The Human Resources & Compensation Committee is appointed by the Board of Directors to assist the Board in fulfilling its oversight responsibilities regarding human resources and compensation on behalf of Tarion. 

The Committee oversees the implementation of human resources decisions of the Board and ensures the adequacy and effectiveness of the systems implemented to ensure compliance with all human resources legislation, policies and procedures. Additionally, the Committee leads the evaluation and compensation process for the CEO.

View Terms of Reference for the Human Resources & Compensation Committee (PDF)

Investment Committee

The Investment Committee is a committee of the Board of Directors and reports to the Board on the corporate investment plans, policies and issues with respect to the Guarantee Fund and pension plan(s) that affect Tarion Warranty Corporation.

View Terms of Reference for the Investment Committee (PDF)

Strategic Transition Committee

The Strategic Transition Committee’s primary purpose is to advise the CEO with respect to transitional items and to ensure that the Board is informed and involved through the process with respect to, in no particular order:

  • The assessment, and if required, the implementation of certain recommendations from the Minister of Government & Consumer Services or the Government of Ontario;
  • Providing advice on specific design issues to the Tarion transition team; and,
  • Ensuring that key strategic issues regarding both organizations are addressed.

View Terms of Reference for the Strategic Transition Committee (PDF)

    

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