As a provincial Crown corporation, Agriculture Financial Services Corporation (AFSC) reports to the Minister of Agriculture and Forestry.
AFSC is governed by a Board of Directors that provides strategic direction to the organization and directs corporate governance practices.
Board members work with AFSC management to ensure successful corporate governance. Governance practices are developed to respond to the high expectations of AFSC’s stakeholders. By providing a disciplined approach to business concerns, AFSC’s corporate governance practices ensure the corporation fulfills its mandate within prudent risk management parameters.
The Board is responsible for the governance of AFSC and overseeing the management of AFSC’s business and affairs. The Board guides AFSC’s strategic direction. The Board ensures broad strategies, overall risk appetite and policy direction of the government is reflected in AFSC’s business plans. The Board approves and monitors AFSC’s business plans, operational plan, and financial results. The Board appoints and evaluates the performance of AFSC’s CEO and is ultimately accountable to the Minister. Board members must act honestly and in good faith, leaving aside personal interests to advance the public interest and mandate of AFSC.
To view AFSC’s Strategic Goals, click here
Code of Conduct and Ethics
A code of conduct and ethics is acknowledged in writing by each member and is reviewed annually. The code of conduct and ethics reaffirms the commitment to high standards of business conduct and ethics to ensure that everything the Corporation does is legal, fair and reasonable.
Mandate of the Board
The Board is responsible to the Minister of Agriculture and Forestry. The roles and responsibilities of the Board are set out in the Agriculture Financial Services Act and in a Mandate and Roles Document accord between the Minister and the Board.
Composition of the Board
The board currently consists of eight directors. Members have varied skills and experience as entrepreneurs, primary agricultural producers, and agri-business owners and operators. Recruiting of new Board members is handled by the Government of Alberta Corporate Human Resources, unless otherwise indicated, and upon ministerial approval, a formal recommendation is provided to Members of Cabinet and then the members are appointed via a Ministerial Order.
Appointments are for a fixed term of up to three years, with the potential for reappointment based on satisfactory performance, to a maximum of 10 years of continuous service.
New board members are:
- Mabel Hamilton, board chair – primary producer, Innisfail
- Rodney Bradshaw – primary producer, Red Deer County
- Renata Colic – finance and investor relations, Calgary
- Trevor MacLean – agriculture business consultant, Okotoks
- Chioma Ufodike – forensic accountant, Calgary
Continuing board members are:
- Gerald Bouma – agri-food management consultant, Edmonton
- Kiren Singh – financial executive, Canmore
To download documents on the Mandate and Roles of the Board and the Composition of the Board, click here.
Board Bylaw and Charter
The Board, while retaining overall responsibility of overseeing the conduct of the business affairs of the Corporation, has for effective governance delegated specific duties to standing committees consisting of several Board members each.
The Board establishes the following Board Committees to assist the Board in carrying out the duties of the Board:
Governance & HR Committee
The Governance & HR Committee makes recommendations to the Board with respect to governance practices, committee structure and memberships, strategic management of human resources and corporate communication.
To assist the Board in its oversight responsibilities on matters relating to fiscal management and financial reporting, internal controls, internal and external audit, and compliance with laws and regulations, including the code of conduct.
The primary responsibility of the AFSC Risk Committee is to oversee the enterprise-wide risk management practices and make recommendations on the adequacy, appropriateness, and effectiveness of the Corporation’s enterprise-wide risk management practices. This includes proposals for significant changes to existing businesses or new initiatives that will advance the long-term strategic vision of the corporation.