Mindful of current governance initiatives at the FVREB (i.e. director/committee volunteer opportunities and the upcoming AGM), this article provides a refresher on how standing committees fit within the FVREB’s governance framework.
One way to think about organizational governance is the operation of a ship. On a ship, a captain and first officer are tasked with overseeing a voyage and tackling any problems along the way.
Applying that analogy to the FVREB, the Board of Directors (“Directors”) are like captains and the standing committees are like first officers. Together, these dedicated volunteers oversee a continuous voyage to ensure that the organization fulfills its mandate, as stipulated in the FVREB’s Constitution and By-Laws (“By-Laws”).
Governance Framework for Standing Committees
Pursuant to Article 6, Part A, Section 6 of the By-Laws, the Directors are responsible for establishing and maintaining four standing committees. Each standing committee is guided by a distinct term of reference and all committee members and Directors must abide by a Code of Conduct and Confidentiality Agreement. These documents can be accessed on the FVREB’s Board Governance section on REALTOR Link®.
The FVREB’s Strategic Priorities (as displayed on the FVREB’s Board Governance section on REALTOR Link®) are also important to the work of the standing committees. For the years 2022-2024, the FVREB’s Strategic Priorities are:
- Promote REALTORS® professionalism;
- Strive for governance and operations excellence;
- Increase members’ engagement with the FVREB; and
- Build the influence and reputation of the industry and of REALTORS® as a profession.
The purposes and functions of the standing committees are summarized below.
Finance Committee
The Finance Committee is responsible for assisting the Directors in managing the organization’s financial affairs. Per the terms of reference, this committee is mandated to perform its duties in support of the FVREB’s strategic directions.
Governance Committee
The Governance Committee is responsible for assisting the Directors in governing the organization. Per the terms of reference, this committee is mandated to provide governance and policy oversight in support of the FVREB’s strategic directions.
Arbitration Committee
The Arbitration Committee is responsible for settling commission disputes between FVREB firms. Per the terms of reference, this committee is mandated to make binding decisions regarding all such disputes.
Professional Conduct Committee
The Professional Conduct Committee (PCC) is responsible for investigating and considering complaints about FVREB member conduct, and imposing discipline as necessary. Per the terms of reference, this committee may hold a hearing to determine if a member has contravened the provisions of the By-Laws.
The Board may at its discretion endorse the creation and advancement of non standing committees (such as the Stakeholder & Government Relations Committee for example) and task forces (such as the Technology Task Force for example).
FVREB Professional Standards