Learn about our governance

 

Board Nominations and Elections

At Lighthouse, we are regulated by corporate governance principles that fosters a healthy and inclusive culture of the community we serve. Given that Lighthouse is a start-up, the initial Board of Directors was approved by the Financial Services Regulatory Authority of Ontario (FSRA), and we will have democratic elections in the next 2-3 years to fill rolling board positions available.

We value the opinions of our members and offer involvement in our internal committees and Board of Directors. The Board has established an audit committee, risk committee, governance and compensation committee, and community alignment committee, all of which members have a right to join and influence.

 

 

Audit & Finance Committee

Committee Chair: Bernard Heitner

The Audit and Finance Committee is responsible for, among other things, oversight responsibilities relating to: financial reporting and disclosure, internal audit, external audit, risk management, controls and compliance, balance sheet transactions including liquidity, asset and liability management. The committee is responsible for ensuring the integrity of the Credit Union’s financial statements, all disclosures have been fully reviewed and approved prior to distribution and all assets are appropriately safeguarded.

 

Risk Committee

Committee Chair: Robert Trager

The Risk Committee ensures the effective management of all risk including compliance, operational, material market, reputational, liquidity or credit risk. The risk committee will also monitor results from the risk management process with the Chief Risk Officer and Chief Executive Officer. The risk committee ensures that the risk management framework and processes are in place in support of the strategy and are in line with risk appetite, governance, risk, and controls framework.

 

Governance and Compensation Committee

Committee Chair: Chaya Cooperberg

The Governance and Compensation Committee will review and makes recommendations to the Board, based on corporate governance principles including a code of conduct and ethics. The aim is to foster a healthy governance culture. The Governance and Compensation Committee is also responsible for facilitating the annual evaluations of the Board and the committees, and may also approve and monitor the Credit Union’s compensation and benefits programs developed by the management team.

 

Community Engagement Committee

Committee Chair: Robert Reichmann

The Community Engagement Committee will support the Board in its achievement of the mission and to provide oversight of matters that pertain to the Jewish community as well as to the Jewish philosophy in banking and its many forms of application.

 

Technology Committee

Committee Chair: Haya Zilberboim