How DICO Is Managed and Organized

Guy Hubert, Acting President and CEO

 

As Acting President and Chief Executive Officer, Guy Hubert is accountable for ensuring that DICO’s mandate of prudential oversight, protecting depositors and maintaining confidence in Ontario’s credit unions is met.

Mr. Hubert joined DICO in 2010 and, following a number of appointments to increasingly senior leadership roles in regulation and risk management, was ultimately promoted to Executive Vice President Credit Union Regulation, where his responsibilities for risk assessment, examinations, regulation and risk management were expanded to include policy and research.

Mr. Hubert was appointed as Acting President and Chief Executive Officer on September 19, 2016. Prior to joining DICO, Mr. Hubert gained extensive experience in the financial services industry over a 20 year career in banking and investments.

Mr. Hubert earned his BA from Concordia University (Montreal), an MBA from Dalhousie University (Halifax) and is a Fellow of the Institute of Canadian Bankers. He has served as a Director of a registered charitable organization.

Mr. Hubert is a frequent speaker at provincial and national conferences on issues related to credit union regulation, depositor protection and corporate governance.

President and CEO, Position Description

The President and Chief Executive Officer has overall accountability for the affairs of DICO, including the development and implementation of policies and programs for prudential regulation, risk management, corporate stewardship and stakeholder relations.

Prudential Regulation

  • Ensure that all credit unions and caisses populaires licensed to operate in Ontario comply with the provisions of the Credit Unions and Caisses Populaires Act, 1994  (“CUCPA”) as related to solvency and prudential requirements.
  • Issue interpretations and other advisories to credit unions and caisses populaires to provide guidance to ensure compliance.
  • Issue orders, approvals and other regulatory decisions as prescribed by the CUCPA.

Risk Management

  • Maintain public confidence in the safety of the credit union system by developing and promoting effective industry management practices, providing a stabilization program and depositor protection.
  • Ensure that DICO’s risk exposure to insurance losses is properly assessed and managed to minimize claims against the Deposit Insurance Reserve Fund and maintain competitive deposit insurance premium rates.
  • Ensure that DICO has adequate financial resources to meet its mandate.

Corporate Stewardship

  • Lead in the development and implementation of corporate policies and strategic planning.
  • Ensure employee commitment to the corporate vision, values and strategies.
  • Ensure effective business planning and control to maintain the financial integrity of the Corporation.
  • Recruit, direct and develop senior staff and manage their performance.
  • Establish operational priorities and the allocation of resources in accordance with DICO's mandate, mission and business plans.

Stakeholder Relationships

  • Maintain effective stakeholder relations with sector representatives, the Financial Services Commission of Ontario (FSCO)  and Ministry of Finance  officials.
  • Balance the interests of depositors, the system and government while ensuring the corporation's compliance with the Act .
  • Remain abreast of public events that affect the policies and objectives of DICO.
  • Provide the Board of Directors with all relevant information and recommendations to allow them to make informed policy decisions.