Board of Directors

Posted 29 October 2023

Board of Directors at DUCA Financial Services Credit Union Ltd.

Finance Part-time Toronto

Experience: Senior-Level
Salary Range: Not Specified

Close date: 15 December 2023

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When DUCA Financial Services Credit Union Ltd. opened for business in Toronto in 1954, it was with a vision to help Members do more, be more and achieve more™ with their money and their lives.

As we’ve expanded our branch network across the GTA and Central Ontario, that vision still holds true. Serving over 90,000 Members, DUCA provides comprehensive banking services to both individuals and businesses through a Co-Operative Banking model wherein the Members (anyone with an account) own DUCA. With no-fee banking, great rates, a profit sharing program that rewards its Members (owners), and a commitment to communities, DUCA is an attractive alternative to traditional banking institutions.

Position Description

Becoming a Director - What does it take to become a Director at DUCA?

Directors are guardians of DUCA’s mission: “We exist to help people do more, be more, and achieve more with their money and their lives.” Practically, this means potential Directors should own a deep commitment to DUCA as a cooperative financial banking enterprise striving to provide best-of-class Member experience in the delivery of financial products and services. Moreover, the potential Director should own or desire to own a big vision for DUCA to make a difference using our profits for a purpose. Potential Directors have to be able to constructively and actively contribute to all Directors’ discussions in a collaborative, collegial atmosphere.

Also, each Director will have a significant amount of preparatory reading and analysis prior to Board or committee meetings that require advanced financial acumen as well as experience in corporate governance and prudential risk management. There is an expectation that the workload will be approximately 6–8 hours per week.

The DUCA Board believes in embracing diversity and inclusion and strives to represent and reflect the broad DUCA Membership, its employees, and the people in our communities.

Required Skill / Experience

A Director has significant fiduciary responsibilities and in addition should possess the following qualities:

  • Is a team player with demonstrated business experience and appropriate level of knowledge.
  • An independent thinker who brings a diverse and knowledgeable perspective to Board discussions and decisions.
  • Possesses good written and verbal communication skills in order to participate fully in Board analysis, discussion and debate on more complex issues of corporate governance, responsibilities, legal accountability, finance, strategies, and audit.
  • Able to make significant contributions to long-range planning and strategy.
  • Can analyze data and financial results effectively to ensure proper Board oversight.
  • Understands and promotes DUCA’s goals, values and philosophy of doing business.
  • Actively promotes DUCA in order to attract and source business for DUCA.
  • Free of any conflicts of interest.
  • Able to maintain confidentiality and discretion.
  • Strength in audit or finance is an asset.

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