Chief Executive Officer - Toronto, Canada - Massey Henry

Massey Henry

Verified Company

Toronto, Canada

2 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Massey Henry is pleased to support the recruitment for the inaugural _
_Chief Executive Officer __("CEO") on behalf of the _
_Building Ontario Fund __("BOF"), a new, independent, board‐governed, crown agency that will enable public-sector pension plans, other trusted institutional investors, and Indigenous communities to further participate in large-scale infrastructure projects across the province.

_

About the Building Ontario Fund

The Building Ontario Fund ("BOF") is a new, independent, board‐governed, crown agency that will enable public-sector pension plans, other trusted institutional investors, and Indigenous communities to further participate in large-scale infrastructure projects across the province.

Institutional investor participation will help the government deliver more infrastructure faster, while leveraging additional capital from investors - helping to maintain a responsible fiscal plan for today and for future generations.

BOF will only invest in projects that align with the public interest of Ontario.

The establishment of BOF will enable the Province to achieve the following key benefits:

Build Infrastructure

Support priority infrastructure themes.
Create funding model for future investments.

Attract Institutional Investors

Attract and transfer risk to institutional investors.
Leverage institutional investors' expertise in project investments.

Protect Ontario's Credit Rating

Increase institutional investments.
Diversify government tools for infrastructure funding and minimize government's contribution and risk.

Establishment of the BOF

Ontario's Growth

The province's population is growing, new jobs are being created, and global companies are choosing Ontario to set up shop amid the transformation in the global economy.

By 2041, Ontario's population is expected to grow by approximately 30%, and our infrastructure needs to grow with it.

While this growth is good news, it also means the province's existing infrastructure is under strain. Addressing this infrastructure deficit is not easy.

Despite an ambitious capital plan totaling $185.0 billion over 10 years, Ontario must do more to keep up with demands.

BOF's Mandate

Invest, and seek to attract investment from qualified institutional investors, public sector entities, governments, and Indigenous communities, with priority given to Canadian investors, in large scale or bundled infrastructure projects.

The BOF performs three key functions in support of its mandate:

Invest in infrastructure and appropriately allocate risks amongst the BOF and other investors.
Structure proposals and negotiate agreements with investors in infrastructure projects.
Receive and assess unsolicited ideas and proposals for infrastructure projects that come from qualified institutional investors, public sector entities, governments, or Indigenous communities.

Priorities for Investments
Initially, projects financed through the BOF will focus on the following priority areas:

Long-term care homes
Energy infrastructure
Affordable housing
Municipal and community infrastructure
Transportation

Governance

Board of Directors

The Board of Directors is an independent board composed of at least three and at most 11 members, that oversees the management of BOF's affairs.

Board members will be appointed by the Lieutenant Governor in Council (LGIC) on the recommendation of the Minister of Finance and will need to have significant financial and infrastructure related project expertise.

The Opportunity

Reporting to the Board of Directors, the inaugural Chief Executive Officer ("CEO") is responsible for management and administration of BOF's operations, exercising any powers and regulatory duties assigned to the CEO by the Board.

Acting as the key representative of the entity, the CEO oversees the progress of the organization in fulfilling its mandate to invest and seek to attract investment from qualified institutional investors, public sector entities, governments, and Indigenous communities in Ontario infrastructure projects that will generate revenue and be in the public interest.

As the inaugural CEO, the position will set the course and direction for the organization, including creating the strategy, and building and attracting a highly skilled and motivated team with the appropriate corporate culture.

This position will have the unique opportunity and accountability to develop the internal operational model to lead the organization's transition into a standalone entity.

Key Responsibilities

Lead the management and administration of the entity, providing executive leadership in the development and execution of a corporate vision in line with BOF's mandate.
Articulate the vision, mission, unique value proposition, and overall strategy of the BOF.
Develop the internal operational model to lead the organization's transition