CHAIR'S MESSAGE/RECO 2017 ANNUAL REPORT /7 Reaching out to industry leaders RECO has always made face-to-face interaction with the industry a priority by attending local events across the province. It’s an important way to foster an engaged registrant base, learn about emerging issues and promote our shared responsibility for consumer protection and industry professionalism. This year, we went one step further, by hosting a Town Hall tour that visited seven regions in Ontario. The tour focused on creating a constructive dialogue about key issues, including the REBBA review and Mandatory Continuing Education. Industry leaders were invited to attend in person, and all registrants were invited to watch the final Town Hall via webcast. It was encouraging to see registrants speak passionately about these issues, and the discussions were very informative. Thank you to all who attended or tuned in. Focusing on governance To be an excellent regulator, RECO needs strong governance. The guidance of an increasingly strategic Board, focused on RECO’s mission, is key to ensuring the organization remains strong and that we continue to effectively serve the public interest into the future. In 2017, we focused heavily on director development through various initiatives, augmented by the creation of a new governance manual. The manual incorporates leading governance practices and provides further clarity on the strategic role of the Board. The Board is also launching a comprehensive review of RECO’s governance structure and model. The review will help ensure we are delivering the highest level of stewardship, transparency and accountability as the marketplace continues to evolve in the years to come. Strategic direction Providing strategic direction is the most important function of RECO’s Board. With significant change in our environment since the last comprehensive planning exercise, it is time to do a full review of our strategic goals. In 2018, we will hold a strategic planning session, which will set the path for our pursuit of regulatory excellence, and deliver the organization’s next strategic plan. The enterprise risk and innovation management program, introduced in 2017, will also help shape the strategic planning exercise in 2018. A new CEO The year 2017 was a time of change and renewal at RECO, and it ended on a high note with the arrival of our new CEO, Michael Beard. As the former President and CEO of the Technical Standards and Safety Authority, Michael is a natural problem-solver, who brings with him a strong regulatory background, deep familiarity of the Delegated Administrative Authority model and knowledge of how to lead an organization with a wide array of stakeholders. On behalf of the Board of Directors, I would like to extend Michael a warm welcome. In conclusion As I look ahead to the next decades of real estate regulation, it is inspiring to be part of an organization that maintains a strong relationship with government, and has an engaged staff committed to public service and regulatory excellence. With a robust management team to help lead the way, RECO will work steadily to continue earning the public’s trust, and continue to protect that public through a fair, safe and informed marketplace. As a final note, it has been a great honour to serve as Chair, and I would like to extend a heartfelt thanks to my fellow Directors for their support.