Are you committed to adding value to a Board of Directors? REIX (the Real Estate Insurance Exchange) is actively seeking a dedicated public member to join our esteemed Advisory Board. The Board is responsible for setting the strategic direction of REIX, supervising the insurance program by setting policy, providing financial oversight, including approving REIX’s budget and financial statements, and oversight of the investments of the insurance program fund. We are specifically looking for public members who have not been employed by or practiced professionally in the real estate industry.
Who We Are
Created in 1991 by the industry for the industry, REIX is a reciprocal insurance exchange which operates under the licensing and regulation of the Superintendents of Insurance in Alberta and Saskatchewan. REIX serves as the mandatory errors and omissions insurer for all real estate and property licensees and registrants in Alberta and Saskatchewan.
Strategic Direction
Our mission is to be a premier provider of real estate insurance coverage, offering exceptional claims, risk, and financial management to our subscribers. Our unwavering commitment to excellence drives us to continuously innovate and adapt to the evolving landscape of real estate.
As a non-profit, one of REIX’s strategic goals is to position for opportunities that benefit our subscribers. Other key strategic priorities include enhanced governance, building a higher profile with stakeholders and organizational certainty.
Why a Public Member?
At REIX, we recognize that diverse perspectives lead to better decisions. Therefore, we extend an invitation to a public member to join our Advisory Board. As a public member your role will involve:
Providing Unique Insights: Your perspective will enrich our discussions, helping us address the needs and concerns of our subscribers effectively.
Championing Transparency: You will ensure that our decisions align with the best interests of all stakeholders.
Shaping Our Cyber Security Program: Your valuable input will play a crucial role in strengthening our newly developed cutting-edge cyber security program, ensuring the safety and protection of our subscribers and their clients.
Qualifications
We seek a public member who possesses the following qualifications or experience:
- Governance experience/Board oversight
- Financial expertise including audit, financial statement literacy, budget analysis
- Strategic planning
- Business leadership
- Legal expertise
- Risk management
- Communications
- Education
- Expertise in information systems and/or cybersecurity
While professional designations in any of these areas would be considered an asset, all candidates with relevant experience are encouraged to apply.
Remuneration and Time Commitment
The Advisory Board meets three (3) times per year which includes an annual retreat, with additional meetings if required. Each member of the Advisory Board receives a per-meeting honorarium of $475, the Chair of the Board receives a $635 per-meeting honorarium. In addition, expenses are reimbursed in accordance with our expense guideline.
Time commitment varies with committee involvement, depending on the committee. Time is also required to prepare for meetings which are usually 1.5 to 4 hours in duration. New board members are expected to attend onboarding sessions and an annual retreat.
Board meetings are usually held in-person in Calgary although hybrid and virtual meetings are permitted with the permission of the Chair.
Term
Board members are appointed for one-year terms reviewed annually to maximum term length of six (6) years.
Join Us!
If you are prepared to make a meaningful impact and contribute to our mission, we invite you to apply for the public member position on REIX’s Advisory Board. The application deadline is April 30, 2024. All appointments will be finalized during our June 2024 Advisory Board meeting with service commencing thereafter.
To express your interest, kindly email your resume along with a concise statement outlining your motivation for this role to admin@reix.ca.
We look forward to receiving your application and welcoming you to our team!