Corporate Governance

Leading with integrity

Our corporate governance includes the bylaws, policies, and practices used to oversee the business and affairs of the Credit Union Deposit Guarantee Corporation.

Our Board
of Directors

Appointed by Alberta’s Lieutenant Governor, our independent Board of Directors is comprised of up to seven engaged Albertans who responsibly advance the long-term interests of our stakeholders. Operating within a strategic governance model, they are responsible for the stewardship of our corporation in compliance with the Credit Union Act.

Meet our
Board of

John McGowan, CPA, CMA, ICD.D

John was appointed as Chair of the Board of Directors in 2017 and is the owner of McGowan and Associates Inc. Previously the Deputy Minister of Alberta Municipal Affairs, John has extensive leadership skills and experience in public administration. Previous roles include Manager of the County of Grande Prairie and Chief Executive Officer of the Alberta Urban Municipalities Association and the Alberta Municipal Services Corporation. His skills and experience as a leader are recognized in the oversight and direction that John provides to the Corporation’s Board. 

In addition to his duties as Chair, John is an ex-officio member of both the Audit & Finance and Governance & Human Resources Committees, contributing oversight to the overall functions of the Corporation’s Board. He has acquired designations as a Certified Management Accountant (CMA) and an ICD.D from the Institute of Corporate Directors.

Paulina Hiebert, B. Comm, LL.B., MBA

Paulina is the Vice Chair of the Board and Chair of the Governance & Human Resources Committee. She is an accomplished director with years of C-suite and strategic planning experience with complex organizations. Paulina has extensive global experience in retail, financial services, banking, venture capital, and insurance sectors. She also has expertise in corporate governance, legal and regulatory oversight, stakeholder relations, finance, capital markets, mergers and acquisitions, international expansion, complance, and risk management.

Paulina has served on the Board of Trustees of Boston Pizza Royalties Income Fund since 2019, and is the Chair of the Governance, Human Resources and Nominations Committee. She has also served on the Board of Governors of Trez Capital since 2021, and is a member of their Audit Independent Review, and Credit and investment Review committees.

Paulina holds a B. Comm and LL. B (with Distinction) from the University of Saskatchewan and an MBA (with Distinction) from the Ivey School of Business at the University of Western Ontario. She is a member of the Law Society of Alberta.

Laurene Beloin, MBA, ICD.D

Laurene currently serves as Chair of the Audit & Finance Committee. She offers a demonstrated history of working in higher education, and has banking, finance, and pension industry experience where she is currently the Director of Client Relations and Communications.

Her roles in various industries allow her to bring skills to the Board such as operations management, business expansion, entrepreneurship, leadership, corporate training, and project management with a focus on change management and stakeholder relations.

Laurene graduated from the University of Toronto with a Certificate in Risk Management. She also has an MBA degree, and an ICD.D desigation from the Institute of Corporate Directors, Rotman School of Management.

Camille Bérubé, FCUIC, ICD.D

Camille is an appointed nominee of the Board of Directors from the Alberta Credit Union System. He is currently a co-owner of a consulting firm. Prior to being self-employed he was the Chief Executive Officer of the Beaumont Credit Union where he gained experience in finance, strategic planning, management consulting and board governance. Camille also brings 20 years of municipal government experience to the Board, having served as Mayor of Beaumont for 16 years. 

Camille has a Bachelor of Arts from the University of Alberta and holds a designation as a Fellow of the Credit Union Institute of Canada (FCUIC). He also has an ICD.D designation from the Institute of Corporate Directors, Rotman School of Management.

Jim McKillop, FCPA, FCA, ICD.D

Jim is a seasoned financial executive with unique experiences in the areas of corporate governance, strategic planning, major systems development, real estate management, merger management, procurement, regulation and all areas of financial management in the financial services, food, telecommunications and mining industries.

Jim retired from ATB Financial where he was Chief Financial Officer (CFO) from 2004 through to 2015. Prior to joining ATB Financial, he was CFO for Lilydale Foods. Jim spent eleven years in the telecommunications industry in various senior roles with TELUS and a mobile phone operator in the Czech Republic. He also spent nine years in the mining industry with Echo Bay Mines.

In addition to his work with the Corporation, Jim chairs the Fort Edmonton Management Company Board of Directors, is Chair of the Advisory Board for Righteous Gelato, and is President of the Varscona Theatre.

Jim is a Fellow of the Chartered Professional Accountants (FCPA) and holds an ICD.D designation from the Institute of Corporate Directors. He lives in St. Albert, Alberta and enjoys spending time with his wife Laurel, three daughters and five grandchildren.

Ken Morris

Appointed to the Board as Alberta Central’s nominee in 2017, Ken brings with him nearly 40 years of experience in the financial services industry. Thirty-four of those years were in management positions within the Credit Union System. 

The roles Ken has held include President & Chief Executive Officer of Encompass Credit Union/Wainwright (15 years), Board member with Alberta Central, member of the Celero Solutions Inc. Management Committee, Chair of the Alberta Credit Union Managers Association, and Chair of the Northern Region of Alberta Credit Unions. He also served on the board of Concentra Financial which is now part of Equitable Bank.

Ken graduated with honours from the Credit Union Institute of Canada Management Studies Program with a specialty in lending, is a graduate of the Credit Union Director Achievement Program, and received his leadership certificate through the Queen’s Leadership Program. 

When not serving as a member of the Board and Audit & Finance Committee, Ken resides in Wainwright where he enjoys spending time with his spouse, children and numerous grandchildren.

Key governance practices

The Board of Directors and its committees operate under formal Terms of Reference that align with the expectations of the President of Treasury Board, Minister of Finance.

The Board’s key responsibilities are agreed upon with the Minister and fall into five high-level areas. Workplans define the activities the Board and its committees will undertake to carry out the following:

Strategy and direction setting

  • Set bylaws governing the business and affairs of the Corporation.
  • Hold an annual strategic planning session to direct the development of a budget and business plan.
  • Establish the Fund size and set the assessment rates charged to credit unions.

Succession planning

  • Approve CEO selection, performance evaluation, termination, succession planning and compensation.

Oversight and enterprise risk management

  • Oversee the implementation of an enterprise risk management framework.
  • Approve and monitor policies.
  • Review system update reports to ensure oversight of the risks in Alberta credit unions and Alberta Central.
  • Approve the annual report.

Governance system effectiveness

  • Administer the review and renewal of the Mandate and Roles document every three years.
  • Delegate powers, duties, and functions as appropriate.

Our Executive Team

Meet the dedicated individuals at the helm of the Credit Union Deposit Guarantee Corporation.
Our executive team is composed of seasoned professionals with a deep understanding of Alberta’s financial sector. Their leadership and strategic guidance are essential to enabling a safe and sound credit union system in Alberta.

Meet our Executive Team

Joel Borlé, MBA, FICB, ICD.D President and CEO

Joel was appointed President and Chief Executive Officer in August 2020 for a six-year term. With over thirty years in the banking and financial services industry, Joel brings extensive knowledge and leadership experience to the role.

Throughout his career, Joel has focused on building strong connections and professional relationships. Prior to joining the Corporation in 2007, he held roles at Bank of Montreal and ATB Financial. With experience in commercial and retail lending, strategic planning, credit and sales operations, information technology, and project management, Joel was well suited to lead the Corporation’s Regulation and Risk Assessment and Business Services and Regulatory Practices teams before succeeding to his current role.

Joel holds an MBA from Dalhousie University and bachelor’s degrees in science and commerce from the University of Alberta. He is a Fellow of the Institute of Canadian Bankers, a certified Project Management Professional and holds an ICD.D designation from the Institute of Corporate Directors.

Jammi Rao, FRM, ICD.D Vice President of Business Services, Risk & Regulatory Practices

Jammi has primary responsibility for establishing standards of sound business practices and managing enterprise and information technology risks. He joined the Corporation in 2013, bringing considerable knowledge and practical experience in managing credit and market risks.

Throughout his 40+ year career, Jammi has lived and worked in four different countries. He gained experience in retail banking, commercial lending, asset-liability management, investments, and treasury and capital markets through roles at Alberta Investment Management Corporation, TD Canada Trust, and Kuwait International Bank.

Jammi is highly educated with multiple degrees focused on statistics, mathematics, physics, and economics. He holds a MS from Nagpur University, India. Jammi is a certified FRM professional and holds an ICD.D designation from the Institute of Corporate Directors.

Jammi is a former board member of Goodwill Industries of Alberta and a current member of CIVIDA (formerly Capital Regional Housing).

Peter Baba, CFA Vice President of Regulation & Risk Assessment

Peter Baba leads a team of credit and regulatory risk assessment specialists who monitor and direct the business practices of the Alberta credit union system to enable safety and soundness.

Peter joined the Corporation in January 2021 with over 33 years of experience in the financial services industry. He has a strong background in regulatory oversight and prudential supervision, balanced by practical experience in banking operations, lending, treasury and finance. 

Prior to joining the Corporation, Peter spent eight years with the Government of Alberta as the Deputy Superintendent, Financial Institutions, Regulation. In this role he was responsible for overseeing the financial institutions regulated by the Province of Alberta.

Peter is a CFA® Charter holder and has a bachelor’s degree in economics and a business certificate from the University of Alberta.

Erin Stephen, CPA, CAVice President of Finance & Administration 

Erin provides leadership in establishing policies and programs to cost-effectively manage Alberta’s credit union deposit guarantee fund.

Erin joined the Corporation in May 2023 with 25 years of leadership experience in financial services. Since 2015, Erin has worked directly with federal and provincial regulated financial institutions in roles at PwC, ATB Financial and Canadian Western Bank. She leads performance driven teams to achieve innovation in strategy and governance, enterprise risk management, liquidity management, finance, and internal audit. Prior to working with financial institutions, Erin was responsible for the financial reporting groups at a large Alberta municipality and a publicly traded potash company.

Erin holds a CPA, CA designation and was a 2020 recipient of CPA Alberta’s Distinguished Service Award. Erin is passionate about public service and is currently serving as a public audit committee member of an Alberta school board and a financial advisor to the Alberta Urban and Northern Aboriginal Head Start program. She is a past president and youth director of her local Rotary Club.

Governance documents

Our corporate governance practices begin with our Board of Directors and are brought to life through our culture, policies, and practices.

We believe in transparency and accountability. That’s why the information below is available to our public stakeholders.