BOARD COMMITTEES COMMITTEE MEETINGS Audit & Risk Committee The Committee assists the Board of Directors in meeting its fiduciary responsibilities by overseeing the audit process and assessing enterprise risk. 2 Director Development Committee The Committee supports directors to maximize their contribution in the best interest of RECO through robust orientation, onboarding and development. 2 Finance Committee The Committee advises the Board of Directors on financial- related matters, policies and the annual budget. 3 Governance Committee The Committee develops, recommends to the Board of Directors, implements and assesses effective corporate governance principles. 6 Insurance Committee The Committee monitors the registrant insurance program (which consists of errors and omission insurance, consumer deposit insurance and commission protection insurance) on an ongoing basis, including claims data, policy wording and administration. It also monitors the insurance program funds created as part of the RECO insurance program, including the Program Stability Fund, Premium Fund and Administration Fund. 2 OTHER Registrar’s Education Advisory Committee The Committee provides advice to the Registrar on education-related matters. The Committee may also make recommendations regarding potential changes to educational requirements or policies related to education providers and approved subject areas in both the registration education and continuing education programs. STATUTORY COMMITTEES* Discipline Committee The Committee conducts hearings pertaining to alleged breaches of the Code of Ethics referred to it by the Registrar. Discipline panels determine whether or not registrants have complied with the Code of Ethics. Appeals Committee The Committee hears, considers and decides appeals related to Discipline Committee decisions. *Members of the Board of Directors cannot be appointed to the Discipline Committee or the Appeals Committee. GOVERNANCE/RECO 2017 ANNUAL REPORT /67