Dentist Director (CDSPI Board of Directors)

Overview of CDSPI 

CDSPI has been Advancing the financial wellness of dentists for over 60 years. We’ve served dentists longer than any other organization in Canada. And because we only serve dental professionals and their families, we thoroughly understand their financial priorities and can offer the deepest level of service and experience needed to achieve their financial goals.

We are a not-for-profit organization within a corporate structure that competes in a highly regulated and competitive Financial Service Industry. We provide dentists, their family and staff with stress-free expert advice and leading insurance and investment solutions, tailored specifically to their needs. We are always driven by the best interests of our dentists, and we are committed to giving back to the dental community.

Our Mission 

To provide a broad and meaningful range of customized financial solutions to the dental community, covering every facet of their lives.

Our Vision 

To be the #1 choice in the Canadian dental community for advice and our tailored insurance and investment solutions.

The Purpose of our Corporation is:

  1. To arrange for programs for the benefit of dentists who are current members of CDSPI’s Member Associations, and their families and employees; and
  2. To arrange for programs for the benefit of the broader dental community in Canada, including programs which support dental education, are of benefit to students of dentistry or to related dental professionals.

 

Today, CDSPI serves 14,000 dentists and offers a full and competitive suite of 15 different insurance offerings ranging from Malpractice insurance, to home and office insurance, to cyber security coverage. CDSPI has close to $1.4 Billion in investment assets under management and strategic partnerships with Scotiabank, Cumberland Private Wealth and accounting firm MNP to round out a full service offering to our clients. CDSPI holds the #1 spot for investment performance in Canadian Segregated Funds as of December 2023.

There are eleven (11) Corporate Members of CDSPI: 1. Canadian Dental Association, 2. British Columbia Dental Association, 3. Alberta Dental Association 4. College of Dental Surgeons of Saskatchewan, 5. Manitoba Dental Association, 6. Ontario Dental Association, 7. New Brunswick Dental Society, 8. Nova Scotia Dental Association, 9. Dental Association of Prince Edward Island, 10. Newfoundland and Labrador Dental Association, and 11. Territories (Northwest Territories & The Nunavut Dental Association & The Yukon Dental Association)

The CDSPI Board oversees the management of the business affairs of the company. The Board explicitly delegates to senior management the responsibility for the day-to-day operations of the Corporation.

Directors are elected by the Corporate Members at each Annual General Meeting (AGM), typically held in May. The Directors are paid an annual honorarium for their services to CDSPI and out-of-pocket expenses within policy are reimbursed.

The Opportunity

We are searching for a Dentist Director to fill the newest seat on the Board. This Dentist Director will fill a unique role in that they will be tasked with representing all dentists across Canada and not be accountable to any specific constituency.

A complete profile of the ideal Dentist Director candidate is attached. We appreciate that not all the elements of the Dentist Profile may realistically be found in a single candidate. However, we do expect that the majority of these skills and experiences can be found in a single individual.

For clarity, our governance model defines a “Dentist” a duly qualified individual who is or who was authorized by a provincial regulatory authority to practise dentistry in Canada and who is or who was actively engaged in the practice of dentistry in Canada.”

The Board is currently comprised of two dentists, with the balance of the Directors providing deep industry knowledge and experience directly related to the Corporation’s activities and the functional areas. These areas of expertise and experience include: Insurance, Investments, Risk Management, Technology, Finance, Client Service Delivery, Financial Planning, Sales Management and Regulatory/Operational Oversight.

The successful candidate will also: become a member of two Board Committees; participate in our Corporate Member Council meetings; and have travel requirements as noted below. It is important for this Dentist Director to visit the Associations (accompanied by the Board Chair or Vice Chair) in order to facilitate and strengthen relationships between the Associations and CDSPI. Adding a 3rd Dentist to the Board will facilitate our succession plans for Dentist Directors which must ensure there is a minimum of 25% of the Board are dentists.

Time Commitment and Meeting Location

  • Board and Committee Meetings are a combination of both in person and virtual format; an in person meeting may require travel time.
  • Currently, the regular Board Committee meetings (Audit, Human Resources, Risk and Nominating and Governance) are held with both voting committee members and the nonvoting Board Directors to ensure fulsome discussions and efficiency of reporting. In this context, you can expect 20 days (not all full days) for Board and Committee meetings and another 20 days for prep – per year. A Chair for a Board Committee will also be responsible for the planning and execution of the Committee’s Annual Work Plans, which will require additional prep time.
  • This is an active Board, and certain Directors may be involved with additional special oversight initiatives requiring extra time and attention (i.e. Digital Transformation oversight). These are ad hoc.
  • The meetings noted above require significant preparation time and all Directors are expected to be very prepared for each meeting.
  • In person meetings are typically held in Toronto, downtown or in north Toronto at the CDSPI offices.
  • Our Corporate Members Council meets twice a year in Toronto (currently aligned with the AGM and one other Board Meeting).
  • As noted under “The Opportunity”, this Dentist Director will have travel requirements beyond those noted for Board and Committee meetings. It is expected that this individual will travel to select Associations’ Meetings with either the Board Chair or Vice Chair to support the working relationships between organized dentistry and CDSPI. This travel may increase over time with schedule coordination and as the orientation program is completed. This is to ensure we have appropriate succession for our Dentist Directors over time.

Application Process

Applications for this Dentist Director position will be collected as per details below and assessed by the CDSPI Nomination & Governance Committee (NGC) of the Board. The assessment of candidates will be done by the NGC and this will include interviews for the short listed candidates. The NGC will make a recommendation to the CDSPI Board with respect to which candidate they intend to nominate at the AGM in May 2025. In the interim, this nominee would be introduced to CDSPI as a Board Observer until the AGM. This will facilitate their director training and allow for their voice (no voting authority) at the Board table, with CDSPI Management and our next Corporate Members Council meeting in November 2024.

Submissions should include 2 components.

  1. A current resume for the candidate.
  2. A letter from the candidate describing how they align in terms of skills and experience to the Dentist Director Profile on the next page. We ask that they describe where they expect to add value to the CDSPI Board and why this role is of particular interest to them.

Submission Deadline:
Friday, August 16, 2024

Submissions to:
Nancy Nikolakakos
CDSPI Corporate Secretary
nnikolakakos@cdspi.com

Please indicate in the email subject line "CDSPI Dentist Director Application"

 

NGC Submission Assessments and Interviews:
Month of September & part of October 2024

Decision and Board Observer documentation completed:
End of October 2024

Introduction to CDSPI Corporate Members Council:
November 22, 2024

CDSPI Dentist Director Profile - Desirable Skills & Experience

General Requirements

  • Possesses integrity, high ethical standards, a strong work ethic, appreciates and practises good governance
  • Exhibits sound judgment
  • Analytical, problem-solving and decision-making skills, has the ability to review and understand the data presented in the management reporting
  • Adaptable and able to work co-operatively with others
  • Willingness to commit the time required to fulfill the mandate
  • Highly motivated and prepared to dedicate appropriate time required to prepare for, attend and contribute during Board meetings
  • Financial literacy, insurance literacy and investment literacy
  • Capacity and willingness to quickly become familiar with specific concepts relevant to all the CDSPI Products, Services and Partnerships
  • Strong advocate for Diversity
  • Board of Director and Committee experience (i.e. Audit, Risk Management, Human Resources, Governance)
  • Education: board director certification program and/or a business degree are desirable

 

Specific Requirements

  • Well networked within the Canadian dental community
  • Has the perspective gained through several years of business experience in the dental industry
  • Knowledgeable on the key issues facing the dental community – includes government programs, membership models and regulations
  • Successful history of involvement in organized dentistry, regional, provincial and/or national
  • Has knowledge of what CDSPI does, and stands for within the Canadian Dental Community
  • Experience with CDSPI Advisory Panel, Corporate Members Council or as a Voting Delegate
  • Can show a commitment to the outreach across the regions and rural hard to reach locations
  • Capacity and willingness to learn the CDSPI business and educate oneself where there are experience/knowledge gaps
  • Strong advocate for CMC and Advisory Panel
  • Strong advocate for enhancing communications and relationship with all Dental Associations
  • Commitment to travel and formal representation at select Association meetings (partnered with Chair and Vice Chair of the Board)
  • Advocate and promotor of the CDSPI Financial Partners, assist in relevant issues resolution (Scotiabank, MNP, Cumberland, Sun Life etc.)
  • Where possible, direct experience with CDSPI products and services which illustrate strong support for the value add CDSPI brings to Association Members, especially voluntary membership associations

 

Governance Requirements

  • Appreciation for the type of Board we are at CDSPI – “Engaged Board” who balance compliance and oversight with advice and guidance. They set overall strategy, oversee Management’s implementation of the strategy and delegates the day-to-day responsibilities for the operation of the business to the Management Team.
  • Recognise that Directors must remain independent from their personal/regional situation, avoid geographical and special interest representation
  • Able to commit the appropriate time required to deliver on our mandate, Director responsibilities and shifting priorities