The Board of Directors is responsible for overseeing the management of the business and affairs of Sun Life, with each director contributing to the long-term success of the enterprise. Below are our current directors.
Scott F. Powers
Chair of the Board,
Deepak Chopra, FCPA, FCGA
Stephanie L. Coyles
Ashok K. Gupta, FFA
M. Marianne Harris
David H.Y. Ho
Helen M. Mallovy Hicks, FCPA, FCA, FCBV
Marie-Lucie Morin, CM, PC
Kevin D. Strain, CPA
President & Chief Executive Officer
Barbara G. Stymiest, CM, FCPA, FCA
For more information about our directors please see the profiles included in our.
The Board strives for continuous improvement in its corporate governance processes and practices. These are reviewed regularly to ensure consistency with evolving best practices as well as regulations such as:
Detailed information about our Board governance practices, can be found in our Management Information Circular. Director nomination requirements, including advance notice of nominations, are set out in the By-laws.and . Our corporate governance practices are also described in the
The Board of Directors serves both Sun Life Financial Inc. and Sun Life Assurance Company of Canada. With the exception of the President & Chief Executive Officer, Kevin D. Strain, all of the directors are independent, according to the. The standards and processes for determining the independence of directors are outlined in the policy.
In keeping with its commitment to good governance processes and practices, the Board has adopted a Proxy Access Policy, which sets out the process for qualifying shareholders to submit director nominations to be included in our proxy circular and form of proxy.
Access our constating documents and By-laws below:
The Chair of the Board is an independent director. He or she is responsible for providing leadership that enhances the effectiveness and independence of the Board. The Board Chair manages the Board’s affairs to assist the directors in carrying out their responsibilities and helps the Board operate cohesively. The Board Chair’s key duties can be found in the
The Chair of a Board Committee is responsible for providing leadership to enhance effective and independent functioning of the Committee in order that the Committee may fulfil its duties and responsibilities as outlined in its Committee Charter. Committee Chairs, in consultation with the Chair of the Board, may engage independent advisors at the expense of Sun Life. Each Chair generally holds the position for 5 years. The Committee Chairs’ key duties can be found in the
The Board is responsible for supervising the management of the business and affairs of Sun Life. Each Director participates in fulfilling the Board’s stewardship role by acting honestly and in good faith with a view to the best interests of Sun Life and exercising the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. The Board’s key duties and responsibilities can be found in the Management Information Circular.and the principal duties and responsibilities and key attributes of each Director can be found in the and in the
The CEO is required to be a director on the Board of Directors, according to the Insurance Companies Act (Canada).
The CEO is responsible for championing the Sun Life’s global mission, purpose and values, managing Sun Life’s resources to ensure optimal performance, and setting a standard for culture, conduct and character through his or her own behaviour and actions. The CEO develops the leadership capabilities and succession required for execution of the strategy and long-term success of Sun Life and provides leadership in the vision, purpose, governing principles, risk management, and regulatory compliance, consistent with Sun Life’s risk appetite and culture.
The mission of the Board of Directors is to be a strategic asset of the organization measured by the effective execution of its overall stewardship role and the contribution the Directors make – individually and collectively – to the long-term success of the enterprise.
For issues that require in-depth review, the Board of Directors delegates the responsibility to Board Committees.
Here is a brief summary of some of the key responsibilities of the Board Committees.
Barbara G. Stymiest (Chair)
M. Marianne Harris
Helen M. Mallovy Hicks
The Audit Committee is responsible for assisting the Board in overseeing the integrity of financial statements and related information provided to shareholders and other stakeholders, compliance with financial regulatory requirements, adequacy and effectiveness of the internal controls implemented and maintained by management, and assessing the qualifications, independence and performance of the external auditor.
M. Marianne Harris (Chair)
Stephanie L. Coyles
David H.Y. Ho
The Governance, Investment & Conduct Review Committee is responsible for assisting the Board in developing effective corporate governance guidelines and processes, including processes to assess the effectiveness of the Board and its committees. It reviews and monitors the Corporation’s Investment Plan and investment performance, and oversees investment practices, procedures and controls related to the management of the general fund investment portfolio. The Governance, Investment & Conduct Review Committee assists the Board with its oversight over the Corporation’s sustainability reporting and Sustainability Plan. In addition, the Governance, Investment & Conduct Review Committee meets with the senior business and functional leaders who have first-line responsibility for compliance and compliance management programs, oversees the effectiveness of the second-line compliance function, oversees compliance with legal and regulatory requirements and the identification and management of compliance risk, and oversees the development of policies and processes to sustain ethical behaviour.
Stephanie L. Coyles (Chair)
Ashok K. Gupta
David H. Y. Ho
The Management Resources Committee is responsible for assisting the Board with oversight of succession planning for senior executive positions and programs to effectively attract, retain, develop and reward employees. It provides guidance to management on advancing the talent agenda to achieve strategic objectives and foster Sun Life’s culture. The Management Resources Committee reviews incentive designs and governance of material incentive programs against alignment with business objectives and avoiding excessive risk taking. The Management Resources Committee reviews the implications of key enterprise risks, including human resources risks pertaining to compensation design and human resources practices. In addition, the Management Resources Committee reviews compensation matters, including the remuneration of executives who have a material impact on the risk exposure of the Corporation.
Ashok K. Gupta (Chair)
Helen M. Mallovy Hicks
Barbara G. Stymiest
The Risk Committee is a standing committee of the Board whose primary functions are to assist the Board with oversight of the management of current and emerging risks enterprise-wide, and of the risk management function to ensure that management has in place programs, policies, processes and controls designed to identify and effectively manage the significant risks to which the Corporation is exposed and has sufficient capital to underpin those risks. It reviews and approves all risk management policies and reviews compliance with those policies. In addition, where the Board has delegated risk oversight to other committees of the Board, the Risk Committee provides the Board with an integrated view of oversight of risk management across all Board committees. The Risk Committee regularly monitors the Corporation's risk profile to ensure it is within the agreed risk appetite and that the Corporation's capital position exceeds regulatory capital requirements, and monitors and recommends to the Board for approval, the specific risk limits allocated to the businesses and the annual Capital Plan.
To contact the Board of Directors, send an email to email@example.com.