Tarion is governed by a Board of Directors with members representing key stakeholders including new home buyers, builders, consumer advocates, the financial community, and provincial and municipal levels of government across Ontario.
The Board is responsible for the stewardship of the organization, including promoting sound governance practices, conducting regulatory oversight and taking a leading role in setting the strategic direction of the organization. The Board makes final decisions based on recommendations from various committees and internal and external advisors. The Board has delegated the responsibility for the day-to-day management and operation of the company’s business to management. The Board is, however, responsible for overseeing management in carrying out this responsibility.
Among its key responsibilities, the Board:
- Approves Tarion’s strategic plan, business plan and budget, ensuring the integrity of the organization’s financial reporting;
- Monitors the strategic environment and ensures appropriate enterprise-wide risk management;
- Monitors corporate performance against the strategic plan, business plan, and operating and capital budget;
- Oversees board and management succession planning, including appointing and monitoring the performance of the President & Chief Executive Officer;
- Assesses the Board and each committee or ad hoc committee’s effectiveness in fulfilling its responsibilities, including monitoring the effectiveness of individual directors;
- Ensures the integrity of the company’s internal control system and management information systems;
- Develops the company’s approach to corporate governance, including refreshing the corporate governance principles and guidelines.
Day-to-day operations are managed by the Corporate Leadership team and their staff.