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Fall/Automne
2015
PM #40065075
New CAUBO
CAUBO President
President
Ne
New
Gitta
Kulczycki
La nouvelle présidente de l’ACPAU
La nouvelle présidente de l’ACPAU
Review of university endowment and pension funds
Analyse des fonds de dotation et des caisses de retraite des universités
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Romspen Mortgage
Investment Fund
YEAR
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
NET RETURN
9.9%
10.3%
10.5%
9.9%
8.7%
8.7%
8.2%
7.7%
7.4%
7.8%
With a 49-year history
of capital preservation
and consistent returns,
our commercial mortgage
fund is ideal for pension
funds, foundations and
endowments seeking
to improve fixed income
returns without significantly
increasing risk.
Dianna Price
[email protected]
416 928 5105
WHERE NOW?
ALTERNATIVE
FIXED INCOME?
ABSOLUTE RETURN?
I CAN HAVE BOTH.
Results from January 1, 1995, to January 16, 2006, are those of a pool of individually-syndicated mortgages managed by the manager of Romspen Mortgage
Investment Fund (the “Fund”). The indicated rates of return are historical returns calculated on a cash-on-cash basis, after fees, and the annual compounded
net returns assume a monthly reinvestment of distributions. Returns do not take into account income taxes, changes in unit values, third-party expenses or
redemption charges that would have reduced returns. This is not an offer to sell or a solicitation of an offer to buy units of the Fund, which are offered to
investors who meet eligibility requirements under applicable securities laws. Fund units are offered only by offering memorandum, which contains important
information about the Fund’s fees, objectives, and risk factors, and which should be read before investing. Consult your financial advisor. The Fund’s returns are
not guaranteed, unit values may change, and past performance may not be repeated.
N
I
A
T
S
U
E
L
AB
S
INNO
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VAT
ACHIEVING OUR SHARED VISION THROUGH SUSTAINABLE INNOVATION
Chartwells unique partnerships extend beyond providing innovative solutions which engage students, faculty and
staff. They include comprehensive student-focused initiatives such as local-based food sourcing, customized
menus and brands and expert-led bundling of services and programs.
Consistently putting students first allows Chartwells to enjoy
long and successful partnerships with leading universities and
colleges across Canada.
Contact us to find out how together we will make your campus
the first choice for today’s prospective students.
Western Canada
Terri Phipps (403) 613-0853
[email protected]
Quebec
Nathalie Picard (514) 574-5985
[email protected]
Member of Compass Group Canada
compass-canada.com t dineoncampus.ca
Ontario and Atlantic Canada
Morag McKenzie (647) 328-0709
[email protected]
Canadian Association of University
Business Officers
Association canadienne du personnel
administratif universitaire
315 – 350 rue Albert Street
Ottawa, Ontario K1R 1B1
Tel./Tél.: (613) 230-6760
Fax/Téléc.: (613) 563-7739
[email protected]/[email protected]
Executive Director/Directrice générale
Nathalie Laporte
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Christine Hanlon
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Directeur du marketing
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Third Floor/Troisième étage – 2020 avenue Portage Avenue,
Winnipeg, Manitoba R3J 0K4
FALL/AUTOMNE 2015
Features
VOLUME 23 • NUMBER 4 | VOLUME 23 • NUMÉRO 4
Articles
A chat with incoming president Gitta Kulczycki ...................................................................... 9
Entretien avec la nouvelle présidente de l’ACPAU Gitta Kulczycki .........................................12
CAUBO’s new Strategic Plan 2015-2020 .....................................................................................14
Le plan stratégique 2015 - 2020 de l'ACPAU ..................................................................................14
CAUBO 2015 Conference review ..................................................................................................17
Retour sur le Congrès ACPAU 2015 ..................................................................................................17
2015 Recognition Award winners ................................................................................................22
Prix de reconnaissance 2015 .............................................................................................................24
Why does IT cost so much?.............................................................................................................27
Integrated leadership development: Working better, together ......................................32
Le développement du leadership intégré : travailler mieux, ensemble ................................38
Review of university endowment and pension funds .........................................................43
Analyse des fonds de dotation et des caisses de retraite des universities ............................62
Published four times a year on behalf of the
Canadian Association of University Business Officers
(CAUBO) by
Publié quatre fois par année pour l’Association
canadienne du personnel administratif universitaire
(ACPAU) par
17
Third Floor - 2020 Portage Avenue
Winnipeg, Manitoba R3J 0K4
Tel: 866-985-9780
Fax: 866-985-9799
www.kelman.ca
[email protected]
The views expressed in this publication are the responsibility of the
publisher and do not necessarily reflect the views
of the officers or members of the Canadian Association
of University Business Officers.
Les opinions exprimées dans cette publication sont la
responsabilité de l’éditeur et ne reflètent pas nécessairement celles des
dirigeants ou des membres de l’Association canadienne du personnel
administratif universitaire.
© 2015 Craig Kelman & Associates Ltd. All rights reserved.
The contents of this publication may not be reproduced by any means,
in whole or in part, without the prior written consent of the publisher.
© Craig Kelman & Associates Ltd., 2015. Tous droits réservés.
Cette publication ne peut être reproduite, en tout ou en partie, par
quelque moyen que ce soit, sans autorisation écrite préalable de l’éditeur.
Departments
Chroniques
People Moves ........................................................................................................................................ 6
Professional Development/Perfectionnement professionnel ..............................................69
People Moves
Appointments
Board of Directors ~ 2015-2016
Conseil d’administration
Gitta Kulczycki
President/Présidente
Vice-President (Resources and Operations)
Western University Canada
(519) 661-3114 x83114 Fax/Téléc. : (519) 661-3139
[email protected]
Gayle Gorrill
Vice-President/ Vice-présidente
Vice-President Finance and Operations
University of Victoria
(250) 721-7018 Fax/Téléc. : (250) 721-6677
[email protected]
Eric Tufts
Secretary-Treasurer/Secrétaire-trésorièr
Vice-recteur à l’administration
Université Sainte-Anne
(902) 769-2114 x7309 Fax/Téléc. : (902) 769-3120
[email protected]
Dave Button
Past President/Président sortant
Vice-President (Administration)
University of Regina
(306) 585-4386 Fax/Téléc. : (306) 585-5255
[email protected]
Karen Cunningham has been appointed
Vice-President, Administration and
Finance at the University of New
Brunswick. She has served as Acting
Vice-President at the university since
September 2014.
Robert Einarson has been appointed
Associate Vice-President Finance and
Operations at UBC’s Okanagan campus,
effective September 7, 2015. Einarson most
recently served as Executive Director of
Planning and Process Improvement at the
University of Winnipeg.
Michel Nadeau has been appointed
Associate Vice-President of Facilities
Directors / Administrateurs
Isabelle Boucher
Vice-présidente à l’administration
Université du Québec
(418) 657-4316 Fax/Téléc. : (418) 657-2132
[email protected]
James Butler
Vice-President, Finance & Administration
Wilfrid Laurier University
(519) 884-0710 x2248 / Fax/Téléc. : (519) 886-8645
[email protected]
Michael Di Grappa
Vice-Principal (Finance and Administration)
McGill University
(514) 398-2883 Fax/Téléc. : (514) 398-5902
[email protected]
Michael Emslie
Associate Vice-President
(Financial Services and Operations)
The University of Winnipeg
(204) 258-2943 Fax/Téléc. : (204) 783-4996
[email protected]
Donna Janiec
Associate Vice-Principal (Finance)
Queen’s University
(613) 533-6000 x33048 Fax/Télec. : (613) 533-2011
[email protected]
Sharon Johnson-Legere
Vice President, Finance and Administration
NSCAD University
(902) 494 8112 Fax/Télec. : (902) 429 4925
[email protected]
Matthew Nowakowski
'LUHFWHXUJpQpUDO6HUYLFHGHVÀQDQFHV
Université de Montréal
(514) 343-7153 Fax/Téléc. : (514) 343-6608
[email protected]
Ad r i a n Te e s has been appointed
Associate VP Human Resources at Emily
Carr University of Art + Design.
Son i a Tr udel has been appointed
Concordia University’s Chief Financial
2IÀFHUDVRI$XJXVW7UXGHOKDV
previously served as General Manager
for CBC/Radio Canada’s Real Estate
Division and as Vice-President of Finance,
Administration and Asset Management
for the Old Port of Montreal.
Remembering Pat Hibbitts
Nathalie Laporte
Executive Director/Directrice générale
(613) 230-6760, x268 Fax/Téléc. : (613) 563-7739
[email protected]
Christopher Callbeck
Assistant Vice-President
(Financial & Administrative Services)
University of New Brunswick
(506) 648 5580 Fax/Téléc. : (506) 648-5714
[email protected]
Management at Concordia University
effective June 1, 2015. Nadeau’s most
recent role was Director of Real Estate
Transactions and Strategies for the City of
Montreal. He replaces Peter Bolla, who is
retiring from the university after 15 years.
Sadly and unexpectedly, in June 2015
the CAUBO Community lost one of its
most active and distinguished members:
Patricia Hibbitts, known to most as Pat.
Pat was one of a kind. Her level of
contribution and list of accomplishments
is unparalleled. A huge supporter and
believer in life-long learning and in the
education sector as a whole, she was a
passionate and captivating person and
communicator. Whether taking part in
a casual conversation with colleagues
or participating in a formal presentation
in front of hundreds, her delivery was
always informative, engaging and
humorous. She was a ‘tell it like it is’
person, delivering her opinion with the
sharpest wit and intelligence.
The commitment that Pat
demonstrated towards her career did
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role as a wife, mother and grandmother;
she was always proud to talk about her
family and her personal pursuits. She
was admired, highly respected and a
mentor to many. Her passing will leave
DVLJQLÀFDQWYRLGLQRXUFRPPXQLW\DQG
in the voice for higher education in the
years to come.
As a tribute to such an active
member of our community and a devout
supporter of continuing education and
professional development, CAUBO will
be establishing a PD bursary in Pat’s
name. The application and selection
details will be available in early 2016.
CAUBO Ken Clements Award recipient 2013
CAUBO Outstanding Contribution Award recipient 2012
CAUBO Board of Directors 2002-2011
CAUBO President 2009-2010
Quality and Productivity Award Selection Committee member 2006-2012
(Chair 2007-2010)
Nominating Committee member 2009-2012
Editorial Board member 2002-2012 (Chair 2010-2012)
Eight-time CAUBO conference presenter
Click HERE to return to TABLE OF CONTENTS
A chat with incoming CAUBO President
fter a dozen years each in the private sector and as an administrator in health
care, Gitta Kulczycki is entering her 12th year in university administration at
Western University, as Vice-President of Resources and Operations. A mentor
once told her “don’t let moss grow under your feet” and Kulczycki has certainly
followed that advice.
7KHÀUVWRIKHU*HUPDQLPPLJUDQWIDPLO\WRDWWHQGXQLYHUVLW\VKHHDUQHGDQ+%&RPPHUFH
degree Cum Laude in Accounting, Finance and Mathematics from Laurentian University
– marrying her high school sweetheart in third year – followed by an MBA Magna Cum
Laude from the University of Ottawa. She has lived and worked all across the country:
as a Manager of Financial Services and Taxation for Bell-Northern Research in Ottawa;
Corporate Controller for LSI Logic of Canada in Calgary; and Vice-President and Chief
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Her responsibilities at Western include everything from Finance and Human Resources to
Facilities Management and Capital Planning Services, with plenty in between. After working
with residences, research parks and an abundance of interesting and unique projects,
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UNIVERSITY MANAGER • Fall 2015
9
A chat with incoming CAUBO President Gitta Kulczycki
Having worked in both areas, what
differences do you see in the challenges
affecting the health care sector and those
facing higher education?
Both clearly play a vital role for our society,
future health, and success. Both compete for
shares of the public purse. While we receive
funds in different proportions – health care
being fairly close to 100% governmentfunded, and higher education less so – there
is a common duty to be accountable to our
many stakeholders. In our sector, students
and their families make a significant
investment to attend university. So we have
an important duty to them.
The demographics of each sector are
very different. The vast proportion of health
care is consumed in the very last decade of
life, whereas we at university are serving a
young population. The focus is on making
an investment: we’re helping young people
become the leaders of tomorrow. Choosing
higher education is a conscious choice while
healthcare is a basic need.
Health care is much more tightly
controlled by government. However,
government is becoming more involved
in the operations of universities. To
retain our autonomy in HE, it’s essential
that we demonstrate accountability and
transparency in how we manage our funds
and discharge our mandate.
When I was in health care, there was
never enough money. Every year the budget
was a challenge of making do with less
while facing higher demands due to an
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in HE were marked by growing enrollments
and related government investment. But
these times have come to an end, so we need
to learn to cope with lean times.
What role do you see CAUBO playing
in assisting universities to meet these
challenges?
I think there is a very important role
for CAUBO to play in supporting the
business side of higher education:
promoting collaborative efforts; facilitating
relationships with peers across Canada;
sharing best practices and innovations;
providing professional development; and
being a national voice for members’ concerns
on important business issues. A critical and
unique area where CAUBO contributes
is data. This is highly valued by not only
member institutions but also a number of
stakeholders interested in that data.
10
As president, how do you foresee your
role in the next two years?
I see my role as facilitating and supporting
the work of others. There are many excellent
people involved in this organization,
including the CAUBO staff and the many
volunteers who give of their time and
expertise. But I’m also not reluctant to
roll up my sleeves and contribute effort
and expertise where I can be helpful too.
CAUBO is set to launch its new strategic
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of changes that occurred over the past
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as a critical transition period for the
organization. I want to help, in year one
of that new strategic plan, in the effort to
determine and implement the changes we
must make as an organization to respond
to these important developments. I also
see my role as an advocate for CAUBO.
While higher education operates and
is essentially funded under provincial
oversight, there are many important
issues, trends, topics and opportunities
that transcend provincial boundaries.
You have had quite a varied career.
What is your approach when starting
a new position?
I start with a mindset of curiosity and
an eagerness to learn, prepared to take
as many hours as it takes. I ask many
questions, meet as many people as possible,
as quickly as possible, and engage with
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and how I can help. The early days, when
people are most understanding of your
many questions and lack of knowledge,
constitute the best time to absorb and
learn. As you do all of that, no doubt you
identify two or three areas where you can
have some early positive impact. Then
it’s critical that you deliver. I try never to
take my prior organization with me. Every
organization has a distinct culture and is
its own place. I believe you need to come
to understand and respect the culture,
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work within it in order to be successful and
helpful to the team that surrounds you.
What insights from your experience in
the private sector have you used in your
work in higher education?
Those were my early career years when I
learned about leadership, resourcefulness
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of open communication and the team,
and about the need to have alignment of
personal and organizational values in order
to be successful. All those things are still
important in higher education. In addition,
working in different sectors and positions
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and the ability to embrace change.
How has your volunteer work with
CAUBO informed your work in higher
education?
I’ve learned a lot from colleagues across the
country. I see how they have approached
similar challenges and bring that back to
my own organization. One gets exposure
to other provincial regimes for higher
education and that’s very enlightening.
We are very fortunate in our sector to have
colleagues who are so open to sharing
information, ideas and experiences. It is
quite unique and certainly a strength.
What words of advice would you have
for someone starting in higher education
who had not previously been exposed to
the sector and its particularities?
Of all the experiences I’ve had, the
university environment has been the most
challenging to learn but also the most
interesting and rewarding. Be prepared for
a bit of culture shock. Universities operate
in such a decentralized environment – to
be successful they have to be that way. Do
your homework. You’ll work with brilliant
people who expect you to be prepared. Be
open to input and different approaches as
people will challenge you to look at matters
in different ways. Find ways to engage with
students. Their energy, enthusiasm and
eagerness is invigorating – and contagious.
They always remind me of why I’m here.
Know that the work you do is ultimately
helping these young people to be our
leaders of tomorrow. In how many places
can you work and make that statement?
What would you say to people who are
considering becoming involved with
CAUBO?
Do it! You won’t regret it. You’ll meet people
from across the country. You’ll have a chance
to contribute to your profession and to
higher education in a variety of ways. You
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you and your institutions, but all of us.
Entretien avec
la nouvelle présidente de l’ACPAU,
près une douzaine d’années dans le secteur privé et douze autres dans l’administration
de la santé, Gitta Kulczycki en est à sa douzième année dans l’administration
universitaire à la Western University, où elle est vice-rectrice aux ressources et
aux opérations. Un mentor lui a conseillé un jour de « ne pas laisser la mousse lui
pousser sous les pieds », conseil qu’elle a assurément suivi.
Première de sa famille d’immigrants allemands à fréquenter l’université, elle a obtenu son
EDFFDODXUpDWVSpFLDOLVpHQFRPPHUFHDYHFPHQWLRQFXPODXGHHQFRPSWDELOLWpÀQDQFHVHW
mathématiques de l’Université Laurentienne – où elle a épousé son petit ami du secondaire
en troisième année – puis elle a poursuivi avec un MBA avec mention magna cum laude
de l’Université d’Ottawa. Elle a habité et travaillé partout au pays, notamment comme
JHVWLRQQDLUHGHVVHUYLFHVÀQDQFLHUVHWGHODWD[DWLRQFKH]%HOO1RUWKHUQ5HVHDUFKj2WWDZD
FRQWU{OHXVHFKH],16/RJLFRI&DQDGDj&DOJDU\HWYLFHSUpVLGHQWHHWGLUHFWULFHGHVÀQDQFHV
du Grand River Hospital à Kitchener.
:HVWHUQ HOOH V·RFFXSH j OD IRLV GH ÀQDQFHV GH UHVVRXUFHV KXPDLQHV GH JHVWLRQ GHV
LQVWDOODWLRQVGHSODQLÀFDWLRQGHVLPPRELOLVDWLRQVHWGHELHQG·DXWUHVFKRVHVHQFRUH$SUqV
avoir travaillé dans des projets impliquant des résidences, des centres de recherche et à une
pléiade d’autres projets tout aussi uniques qu’intéressants, Gitta Kulczycki sera la première
à dire qu’il est impossible de s’ennuyer dans une université.
Comme vous avez travaillé dans les
deux secteurs, quelles différences voyezYRXVHQWUHOHVGLIÀFXOWpVTXHFRQQDvWOH
milieu de la santé et celles qui touchent
l’enseignement supérieur?
Les deux secteurs jouent de toute évidence
un rôle crucial pour notre société, notre
12
bien collectif et notre prospérité. Les deux
se disputent leur part des deniers publics.
Bien que notre financement ne soit pas
dans les mêmes proportions – les soins de
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les fonds publics, ce qui n’est pas le cas de
l’enseignement supérieur – les deux secteurs
ont la même préoccupation de reddition de
compte par rapport aux nombreux acteurs
de ces milieux. En éducation postsecondaire,
les étudiants et leurs familles réalisent un
investissement considérable pour fréquenter
l’université. Nous avons donc une grande
responsabilité envers eux.
La clientèle desservie par ces deux
secteurs est aussi très différente. Une
grande proportion des soins de santé est
« consommée » dans la dernière décennie
de vie, tandis que la population universitaire
est jeune. Notre préoccupation, c’est
d’investir : nous aidons les jeunes à devenir
les dirigeants de demain. Le choix des études
postsecondaires est une décision consciente,
tandis que le recours aux services de santé
est un besoin essentiel.
Le gouvernement exerce un contrôle
beaucoup plus serré dans le milieu de la
santé, même s’il s’immisce de plus en plus
dans les activités des universités. Pour
conserver notre autonomie, en éducation
postsecondaire, il est essentiel de prouver
notre responsabilité et notre transparence
dans notre façon de gérer nos fonds et de
nous acquitter de notre mandat.
Quand j’étais dans le domaine de la
santé, il n’y avait jamais assez d’argent.
Chaque année, il fallait adapter le
budget pour faire notre travail avec
moins d’argent, malgré une hausse de
la demande en raison de la population
vieillissante. À l’opposé, mes premières
années en éducation postsecondaire ont été
marquées par une hausse des inscriptions
et des investissements gouvernementaux.
Cette époque étant révolue, nous devons
apprendre à vivre plus modestement.
savoir-faire. Mais je n’hésiterai pas du
tout à retrousser mes manches et à mettre
les efforts et l’expertise là où il le faudra.
L’ACPAU s’apprête à lancer son nouveau
plan stratégique, qui tient compte d’un
nombre considérable de changements
survenus dans les dix dernières années
et qui établit les cinq prochaines
années comme période de transition
cruciale pour l’organisme. À l’an un de
ce nouveau plan stratégique, je veux
SDUWLFLSHU j OD GpÀQLWLRQ HW j O·DGRSWLRQ
des changements que nous devons
apporter, en tant qu’association, pour
réagir à ces importants développements.
Je pense avoir un rôle de promotion
des intérêts à jouer envers l’ACPAU.
Bien que l’éducation postsecondaire
relève essentiellement des provinces,
bon nombre d’enjeux, de tendances,
de possibilités et de sujets importants
transcendent les frontières provinciales.
9RXVDYH]XQHFDUULqUHSOXW{WGLYHUVLÀpH
Que faites-vous quand vous commencez
un nouvel emploi?
Je pense que l’ACPAU a un rôle très
important à jouer en offrant du soutien
au volet administratif de l’éducation
postsecondaire : promouvoir les efforts
concertés; favoriser les rapports avec
des homologues de partout au Canada;
diffuser des pratiques exemplaires et des
innovations; offrir du perfectionnement
professionnel; servir de porte-parole national
pour faire entendre les préoccupations
des membres sur d’importants enjeux de
gestion. L’ACPAU est aussi une source
importante et unique de données, ce qui
est très intéressant non seulement pour les
établissements membres, mais aussi pour
de nombreux acteurs du milieu.
Je me mets d’abord en mode apprentissage
et je me prépare à y mettre autant d’heures
qu’il le faudra. Je pose beaucoup de
questions, je rencontre le plus de gens
possible, le plus rapidement possible, je
discute avec eux pour savoir quelles sont
leurs priorités et ce que je peux faire pour
eux. C’est aux premiers jours en poste,
alors que les gens vous pardonnent très
volontiers vos nombreuses questions et votre
méconnaissance de certains dossiers, que
l’apprentissage et l’absorption sont à leur
FRPEOH$XÀOGHFHVGpPDUFKHVMHGLVWLQJXH
évidemment deux ou trois domaines où je
pourrai faire rapidement une contribution
positive. Il est alors essentiel de produire des
résultats. J’essaie aussi de ne pas apporter
le bagage provenant de mon employeur
précédent. Chaque entreprise ou association
a sa propre culture et sa propre place. Il faut
arriver à comprendre et à respecter cette
culture, et à trouver une façon de contribuer
et de travailler en fonction de cette culture si
l’on veut réussir et aider son équipe.
Comment entrevoyez-vous votre rôle
de présidente dans les deux prochaines
années?
Quels aspects de votre expérience dans
le secteur privé vous servent-ils en
éducation postsecondaire?
Mon rôle est d’organiser et de soutenir
le travail des autres. L’ACPAU a la
chance de compter sur un grand nombre
d’excellentes personnes, notamment son
personnel et les nombreux bénévoles
qui lui donnent de leur temps et de leur
J’étais dans le secteur privé au début de
ma carrière. C’est là que j’ai tout appris
sur le leadership, la débrouillardise, la
souplesse, l’ardeur au travail, l’importance
de la communication ouverte et de l’équipe,
et l’importance d’une concordance entre
À votre avis, comment l’ACPAU peutelle aider les universités à traverser ces
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les valeurs personnelles et les valeurs de
l’entreprise pour réussir. Tout cela est encore
important en éducation supérieure. De plus,
le fait de travailler dans différents secteurs et
à différents postes m’a appris l’importance de
la polyvalence et de la capacité de s’adapter
au changement.
Comment votre bénévolat auprès de
l’ACPAU influence-t-il votre travail en
éducation postsecondaire?
J’ai beaucoup appris de mes collègues de
partout au Canada. Je vois de quelle façon
ils règlent des problèmes semblables aux
miens et je les transpose dans mon contexte.
L’ACPAU m’a fait connaître d’autres
régimes provinciaux d’enseignement
supérieur, ce qui est très enrichissant.
Notre secteur est très choyé de pouvoir
compter sur des collègues si disposés à
partager de l’information, des idées et des
expériences. C’est quelque chose d’unique
et c’est certainement une de nos forces.
Quels conseils donneriez-vous à quelqu’un
qui commence en éducation postsecondaire
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De tous les endroits où j’ai travaillé, c’est le
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à apprivoiser, mais aussi le plus intéressant
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petit choc culturel. Les universités sont des
milieux très décentralisés, et il faut qu’elles le
soient pour se démarquer. Faites vos devoirs.
Vous travaillerez avec des gens brillants qui
s’attendent à ce que vous soyez prêt. Soyez
ouverts aux commentaires et aux nouvelles
approches, car les gens vous amèneront à
voir les choses autrement. Trouvez des façons
d’établir des contacts avec les étudiants.
Leur énergie, leur enthousiasme et leur
volonté sont stimulants – et contagieux! Ils
me rappellent toujours pour quelle raison
je suis là. N’oubliez pas que votre travail
consiste en fait à aider ces jeunes à devenir
les dirigeants de demain. Dans combien
de milieux de travail peut-on faire ce
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Que dites-vous aux gens qui songent à
participer aux activités de l’ACPAU?
Je leur dis : n’hésitez pas, vous ne le regretterez
pas. Vous y rencontrerez des gens de partout
au pays. Vous aurez la possibilité de contribuer
à votre profession et à l’éducation supérieure
de plusieurs façons. Vous apprendrez
EHDXFRXSHWFHVHUDSURÀWDEOHSRXUYRXVHW
votre établissement, mais aussi pour chacun
de nous.
13
CAUBO’s new
Strategic Plan 2015-2020
Le plan stratégique
2015-2020 de l’ACPAU
F
À
Overarching strategy:
1. Adopt an issue-based, member-guided prioritization and
planning culture.
This strategy is key to orient CAUBO’s activities and structure
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driven by the priorities of the VP members.
Stratégie globale :
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OHVPHPEUHVHWOHXUVHQMHX[FOpV
Cette stratégie est essentielle puisqu’elle oriente les activités et la
structure de l’ACPAU vers les enjeux auxquels les membres sont
confrontés — et qu’ils ont eux-mêmes relevés — et tient compte des
priorités des vice-recteurs membres.
ollowing an extensive member engaged planning
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which was presented at the Annual General Meeting
held in Saint John, NB in June. A detailed copy of the 20152020 is now available for all members to read on our website,
www.caubo.ca.
In the plan, CAUBO adopted a new Vision and Mission
VWDWHPHQWDVZHOODVÀYHVWUDWHJLHV
Vision: CAUBO is a key enabler of excellence in Canadian
higher education administration.
Mission: CAUBO provides a national perspective
on matters related to higher education administration.
It strengthens the capacity of leaders in the sector by
connecting them with peers and information, enabling
them to pursue opportunities and create solutions for
shared issues.
Operational strategies:
2. Proactively articulate, capture and disseminate a national
perspective on key issues.
This strategy asserts CAUBO’s role at the national level
on issues where influence, information, or advocacy
are important ways to deliver value to members and to
the sector.
3. Connect members to resources that inform decision-making and
SUREOHPVROYLQJUHODWHGWRWKHLUPRVWVLJQLÀFDQWDGPLQLVWUDWLYH
or operational needs.
This strategy focuses on CAUBO’s effectiveness as an
information clearinghouse and provider to the sector, and as
a catalyst for members to connect with each other, ultimately
as a means to support them in their work. This strategy was
informed by the results of the member needs survey, which
ODVXLWHG·XQYDVWHH[HUFLFHGHSODQLÀFDWLRQHWGHFRQVXOWDWLRQGHV
membres, l’ACPAU a lancé son plan stratégique quinquennal et
l’a présenté à l’assemblée générale annuelle tenue à Saint John en
juin. Les membres peuvent consulter la version détaillée du plan 20152020 sur notre site web au www.caubo.ca.
Dans ce plan, l’ACPAU a adopté un nouvel énoncé de vision et de
mission ainsi que cinq stratégies :
Vision : L’ACPAU joue un rôle essentiel dans l’atteinte de l’excellence
dans l’administration de l’enseignement supérieur au Canada.
Mission : L’ACPAU fournit un point de vue national sur des enjeux
liés à l’administration de l’enseignement supérieur. Elle renforce les
capacités des leaders du secteur en les mettant en contact avec leurs
pairs et en leur donnant de l’information, leur permettant ainsi de tirer
parti des occasions qui se présentent et de créer des solutions à des
problèmes communs.
Stratégies opérationnelles :
2. Concevoir, exprimer et diffuser de façon proactive un point de vue national
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Cette stratégie fait valoir le rôle de l’ACPAU sur la scène nationale en
FHTXLFRQFHUQHOHVHQMHX[RO·LQÁXHQFHO·LQIRUPDWLRQRXODGpIHQVH
des intérêts peuvent créer de la valeur pour les membres et le secteur.
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GHV GpFLVLRQV HW j UpVRXGUH GHV SUREOqPHV HQ OLHQ DYHF OHXUV EHVRLQV
DGPLQLVWUDWLIVRXRSpUDWLRQQHOVOHVSOXVLPSRUWDQWV
&HWWHVWUDWpJLHPHWO·DFFHQWVXUO·HIÀFDFLWpGHO·$&3$8HQWDQWTXHIRXUQLVVHXU
et centre de diffusion de l’information à l’échelle du secteur, et en tant
que catalyseur d’interactions entre les membres, comme forme de soutien
dans le cadre de leur travail. Elle se fonde sur les résultats tirés du sondage
sur les besoins des membres, lesquels démontrent l’importance des
données de référence, des pratiques exemplaires et des conseils de pairs.
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indicate the importance of benchmark data, best practices and
peer advice.
4. Foster a strong community of university administrators within
CAUBO.
For members, connecting with each other is a key element of the
value they derive from CAUBO. This strategy seeks to enable
these connections, and to capture and leverage the outputs in
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Enabling strategy:
5. Align CAUBO’s structure to support strategies and enable success.
The strategies require CAUBO to reinvent and redesign its existing
structure and operating model in order to remain relevant and
VXVWDLQDEOH7KLVVWUDWHJ\UHFRJQL]HVWKHVLJQLÀFDQFHWKHFKDOOHQJHV
and opportunities of this transformation.
)DYRULVHUOHGpYHORSSHPHQWG·XQHIRUWHFRPPXQDXWpG·DGPLQLVWUDWHXUV
universitaires au sein de l’ACPAU
Pour les membres, la valeur de l’ACPAU repose en grande partie
sur le fait qu’elle leur permet d’interagir avec d’autres membres.
Cette stratégie vise à favoriser les interactions, mais également la
VDLVLHHWODPLVHjSURÀWGHVH[WUDQWVSRXUOHELHQFRPPXQ
Stratégie structurante :
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DWWHLQGUHVHVREMHFWLIVHWFRQQDvWUHOHVXFFqV
Les méthodes qui régissent actuellement la prestation des
services ne sont pas viables. Par ailleurs, les stratégies exigent
la réinvention et le remaniement de la structure et du modèle
d’exploitation de l’ACPAU. Cette stratégie reconnaît donc la
SRUWpHGHFHWWHWUDQVIRUPDWLRQHWOHVGLIÀFXOWpVTX·HOOHVRXOqYH
Moving forward
The plan sets CAUBO on a course to making a significant
shift and difference, positioning itself in the national higher
education landscape and significantly enhancing value
to members.
CAUBO staff and leadership are now undertaking the process
of putting the plan into action. We will continue to engage
members in the operationalization of the plan. We look forward to
your contributions and support as we work collectively towards
accomplishing our strategic goals.
Prochaines étapes
Le plan met donc l’ACPAU sur la voie d’une profonde transformation
et d’un renforcement de sa portée concrète, en permettant à celle-ci
de se tailler une place dans le paysage national de l’enseignement
supérieur et de créer une plus grande valeur pour les membres.
Le personnel et la direction de l’ACPAU en sont maintenant
à l’étape de la mise en œuvre et continueront de consulter les
membres pour l’opérationnalisation du plan d’action. Nous
vous remercions à l’avance de votre contribution et de votre
appui dans cet effort collectif qui nous permettra d’atteindre
nos objectifs stratégiques.
We extend our sincere appreciation to the hundreds of members who
contributed to the development of the plan through interviews, focus
groups, surveys and other consultations.
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j O·pODERUDWLRQ GH FH SODQ HQ SDUWLFLSDQW j GHV HQWUHYXHV JURXSHV GH
discussion, sondages et autres consultations.
15
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CAUBBO 20115 Confferenncee Revvieew
Survvoll duu conngrrèss 2015
he tides of change swept through Saint John, New Brunswick
from June 14-16, 2015 as close to 550 delegates rolled into
WRZQIRU&$8%2$FWLRQSDFNHGIURPWKHÀUVWPRPHQWV
the conference opened with eye-opening statistics and thoughtprovoking commentary on current and upcoming trends in
&DQDGLDQ KLJKHU HGXFDWLRQ ÀQDQFH IURP NH\QRWH VSHDNHU$OH[
Usher. The following morning, panelists Norman Betts and Tom
Traves, along with moderator Ron Bond, built on Alex’s presentation
by delving into some tough questions about who should be leading
change at Canadian universities and how to accomplish it.
As always, concurrent sessions covered a variety of issues,
WUHQGVDQGWRSLFVRYHUERWKGD\VLQFOXGLQJÀQDQFLDOVXVWDLQDELOLW\
IT costs and service delivery trends, space planning and facilities
usage, budget models and program prioritization. University
Manager readers will see more in-depth coverage of several of
these topics in upcoming issues, beginning with the feature article
‘Why Does IT Cost So Much?’ on page 27 of this issue.
u 14 au 16 juin 2015, des vagues de changement ont déferlé sur
Saint John, au Nouveau-Brunswick, où près de 550 participants
sont débarqués en ville pour le congrès de l’ACPAU. Sous le
signe de l’action dès les premiers instants, le congrès s’est ouvert
sur des statistiques révélatrices et des commentaires portant à
UpÁH[LRQVXUOHVWHQGDQFHVDFWXHOOHVHWIXWXUHVGDQVOHGRPDLQH
GHV ÀQDQFHV HQ HQVHLJQHPHQW SRVWVHFRQGDLUH DX &DQDGD GH OD
part du conférencier principal, Alex Usher. Le lendemain matin,
les panellistes Norman Betts et Tom Traves et l’animateur Ron
Bond ont renchéri sur la présentation de M. Usher en posant des
TXHVWLRQV GLIÀFLOHV QRWDPPHQW TXL GHYUDLHQW rWUH OHV FKHIV GH
ÀOHGXFKDQJHPHQWGDQVOHVXQLYHUVLWpVFDQDGLHQQHVHWFRPPHQW
réaliser ces changements.
Comme toujours, des séances concomitantes ont touché
divers enjeux, thèmes et tendances pendant les deux jours du
FRQJUqVSDUH[HPSOHODYLDELOLWpÀQDQFLqUHOHFRWGHV7,HWOHV
WHQGDQFHV GDQV O·RIIUH GH VHUYLFH OD SODQLÀFDWLRQ GH O·HVSDFH
et l’utilisation des installations, les modèles budgétaires et la
priorisation des programmes. Les lecteurs de Gestion universitaire
verront des articles plus étoffés sur plusieurs de ces sujets dans
les prochains numéros du magazine, à commencer par l’article
GHIRQG©3RXUTXRLOHV7,FRWHQWHOOHVVLFKHU"ªjODSDJH
de ce numéro-ci.
Misseed a sessiion – or thhe conferencce? Visit the Liive
Leearninng Ceentre and viiew recordeed conttent noow!
CAUBO’s Live Learning Centre has been updated to include
captured content from the CAUBO 2015 conference as well as the
pre-conference seminars. Attendees receive access to this content
free of charge, while members who did not attend the conference
or pre-conferences may purchase individual sessions or packages
at member prices. You can review sessions you attended at the
conference, and experience sessions you missed, in the form of
screen captures of the sessions including all audio, video and
slides used in the presentations. Stream conference content on
your computer or mobile device anytime, anywhere.
Vouus avvez ratté une des séances ou
le conngrèss commee tel? Allez au Livve L earninng Centtre
poour vissionnerr les exposés qui vous inntéressennt!
Le Live Learning Centre de l’ACPAU propose maintenant des
séances du congrès 2015 ainsi que des séminaires précongrès.
17
Here are just a few of the sessions that are available on the Live
Learning Centre from CAUBO 2015:
• Canada’s Universities: Cost Pressures, Business
Models and Financial Sustainability
• Fostering a Culture of Service Excellence
• The Role of Ancillary Services – Best Practices in Relevance
• Using a P3 Model to Develop New Residences
• Business Process Re-engineering: Hype or Reality?
Vous y avez accès gratuitement si vous avez assisté au congrès;
sinon, vous pouvez acheter l’une ou l’autre des séances aux prix
pour membres. Qu’il s’agisse d’exposés que vous voulez revoir
ou que vous avez manqués, vous pouvez y accéder sous forme de
captures d’écran avec audio, vidéo et diapos. Vous pourrez aussi
les lire en continu sur votre ordinateur ou votre appareil mobile
au moment et à l’endroit de votre choix.
Voici quelques-unes des séances du congrès 2015 offertes par
le Live Learning Centre (en anglais) :
• Canada’s Universities: Cost Pressures, Business Models
and Financial Sustainability
• Fostering a Culture of Service Excellence
• The Role of Ancillary Services – Best Practices in Relevance
• Using a P3 Model to Develop New Residences
• Business Process Re-engineering: Hype or Reality?
Thaank yoou to thhe Locall Organiizing Commmittee
annd the volunnteers in red t-shirts!
The members of the CAUBO 2015 Local Organizing Committee
from the University of New Brunswick helped to plan and deliver
a well-run, engaging and memorable conference. We are so grateful for the time, expertise and enthusiasm that each and every one
of them generously offered in support of CAUBO 2015:
•
•
•
•
•
•
•
•
•
Chris Callbeck, Conference Chair
Sue Allen and Cathy Mahboob, Co-Liaisons
• Janice Hicks
Erin Caines
• Natalie Kallar
Nicola Cassidy
• Carla Lavigne
Karen Cunningham
• Peter McDougall
Heather Finkle
• Keri Regier
Cindy Flann
• Katie Stevens
David Gillespie
Larry Guitard
In addition, more than 20 volunteers from the University of
New Brunswick supported every aspect of the conference. From
registration and assistance at networking events and sessions to
KHOSZLWKWUDQVSRUWDWLRQDQGZD\ÀQGLQJWKHVHDZHVRPHPHQ
and women helped ensure a great experience for delegates. Our
heartfelt thanks to each and every one of the volunteers in red
t-shirts for their hard work, smiling faces, and positive attitude!
Unn mercii sincèrre au Coomité organnisateurr local et à
l’ééquipe de bénnévoless aux t-shirts rougess!
Les membres du Comité organisateur local du congrès 2015
de la University of New Brunswick nous ont aidés à organiser
et à vous offrir un congrès bien rodé, stimulant et mémorable.
Nous leur sommes très reconnaissants du temps, du savoir-faire
et de l’enthousiasme qu’ils ont si généreusement consacrés à
l’organisation du congrès 2015 :
•
•
•
•
•
•
•
•
•
Chris Callbeck, président du congrès
Sue Allen et Cathy Mahboob, agentes de liaison
• Janice Hicks
Erin Caines
• Natalie Kallar
Nicola Cassidy
• Carla Lavigne
Karen Cunningham
• Peter McDougall
Heather Finkle
• Keri Regier
Cindy Flann
• Katie Stevens
David Gillespie
Larry Guitard
En outre, plus de 20 bénévoles de la University of New Brunswick
ont contribué à tous les volets du congrès. Des inscriptions,
séances et activités de réseautage au transport et à l’orientation,
ces hommes et ces femmes extraordinaires vous ont assuré une
expérience exceptionnelle. Nos sincères remerciements à chacun
des porteurs de t-shirts rouges pour leur excellent travail, leurs
beaux sourires et leur attitude positive!
18
Our Sponsorss
Nos commmandditaiiress
CAUBO is grateful for the outstanding support of our sponsors,
without whom events such as the Annual Conference would not be
possible. Their valued contributions of time, money, products and
services helped take CAUBO 2015 from ordinary to extraordinary!
L’ACPAU sait fort bien que le congrès annuel ne pourrait se tenir
sans le soutien exceptionnel de ses commanditaires, d’où notre
profonde reconnaissance à leur égard. Leurs contributions – temps,
produits, services – nous ont permis de vivre encore une fois une
expérience extraordinaire!
Princippal Partners/Par
artten
tenaires principaux
Exxhibitors/Expos
osaants
Prestige Paartner/Partenaairire de prestige
artenaires maj
ajeeurs
Major Partners/Par
• MNP LLP
• Grand & Toy Ltd.
Delegaate Bag Spponsor/
Commmanditaire des sacs écologiques remis aux congressisstes
• PeopleAdmin, Inc.
Officiaal Sustainaability Spoonsor/
Commmanditaire officiel - viiab
a ilité du développemment durablle
• ARAMARK Higher Education
Associat
a e Partnerrs/Partenairres associés
at
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Adaptive Insights
Arizona State University
Budget Car Rental
Centurion Asset Management Inc.
Commissionaires
Concur Technologies Inc.
FairTax
Johnson Controls
Knightsbridge Robinson Surrette (KBRS)
Academic Search
Mercer
RBC Royal Bank
Ricoh Canada
Scotiabank
Sightlines
Sodexo Canada, Ltd.
The Scion Group
Tribal
Visa Canada
Western Union Business Solutions
•
•
•
•
•
•
•
•
•
•
•
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•
Air Canada
Akran Marketing
AMJ Campbell Inc.
ARAMARK Higher Education
Armstrong Moving
Best Doctors
BMO Financial Group
Campus Living Centres
Canadian Campus Communities
Cash Management Group at Raymond James Ltd.
Chartered Professional Accountants of Canada
CURIE
Dana Hospitality LP
Ellucian
Enterprise Rent-A-Car and National Car Rental
Follett of Canada, Inc.
GovDeals, Inc.
Honeywell
IBM Canada Ltd.
International SOS
ITC Systems
KYOCERA Document Solutions
Macquarie Equipment Finance (MEF)
Marsh Canada Limited
MCW Custom Energy Solutions Ltd.
MERX Networks Inc.
MHPM Project Leaders
Millennium Computer Systems Ltd.
Moneris
peerTransfer
PeopleAdmin, Inc.
Perceptive Software from Lexmark
Precise ParkLink Inc.
Projector Lamp Source
RPR Environmental
Salto Systems
SciQuest
Staples Advantage
UNIGLOBE Travel
UNB College of Extended Learning
University of Guelph’s College
of Business and Economics Executive Programs
19
Optional Event: CAAUB
UBOO Un
Unco
cork
rked
ed//
Activité faccul
ulta
tatiive : L'ACCPA
ta
PAUU déb
ébouché
hée
• Greystone Managed Investments Inc.
• KPMG LLP
Pree-co
e- onferen
encee Semmin
inar Spo
ponsor
ors/
or
s/
Coommmandiditairres des sém
éminnai
aires pr
préc
écon
ongr
grès
ès
•
•
•
•
•
•
•
•
•
•
•
Aberdeen Asset Management
CIBC Mellon
Concur Technologies Inc.
Ernst & Young LLP
Fiera Capital Corporation
Greystone Managed Investments Inc.
Hicks Morley
HigherEdPoints
KPMG LLP
MHPM Project Leaders
RPR Environmental
To view more photos from the conference, visit www.caubo.ca and
click on the link under Latest News.
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sharing among the
CURIE community
Pour voir d’autres photos du congrès, visitez le www.caubo.ca et
cliquez sur le lien sous Dernières nouvelles.
Protecting universities.
Sharing knowledge.
CURIE was founded in 1988, at the peak of the liability
insurance crisis with the mandate to stabilize premium
costs and offer custom coverage for Canadian
universities. Today, CURIE, Canada’s only non-profit
reciprocal specializing in universities, represents large and
small institutions. With a strong membership, CURIE is
prepared for today and looking ahead to tomorrow.
www.curie.org
Canadian Universities Reciprocal Insurance Exchange
20
SHURE LITHIUM-ION RECHARGEABLE BATTERIES*
THE POWER TO ENGAGE MINDS.
Crystal clear audio plays an essential role in teaching
and learning. Today's educational facilities require microphones that not only deliver audio clarity to the audience, but also operational efficiency to the technician.
Shure lithium-ion rechargeable batteries for select
Shure wireless systems contain a built-in smart chip that
monitors battery health and transmits information on
remaining runtime in hours and minutes. They also last
longer than disposable alkaline batteries.
Integrating rechargeable technology into educational
installations not only results in top notch reliability for
critical presentations, it’s also suitable for institutions who
are looking for ways to increase cost-savings without
sacrificing quality.
For more information, download our
Products for Installed Applications brochure
at www.shurecanada.com/audiosolutions.pdf
*Compatible with Shure QLX-D® and ULX-D® Digital Wireless Systems.
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© 2015 Shure Incorporated
Distributed in Canada by SFM | [email protected] | www.sfm.ca
SB900
SBC200
Connect up to four SBC200.
Charge mics and bodypacks.(Sold Separately)
Remaining runtime displayed
in hours and minutes accurate
to within 15 minutes on wireless
systems
Generates significant cost savings
over the use of alkaline batteries
Reduces the amount of toxic
materials sent to landfills
T
he CAUBO Recognition Awards
celebrate and honour member
volunteers who promote
excellence, collaboration, leadership and
LQIRUPDWLRQVKDULQJLQWKHÀHOGRIKLJKHU
education administration in Canada.
CAUBO is pleased to present the 2015
Recognition Award winners:
KEN CLEMENTS DISTINGUISHED
ADMINISTRATOR AWARD
and mitigate risks of the Human Pathogens
and Toxins Act and Regulations.
Under Michael’s leadership, the
University of Ottawa embarked on a
project focused on developing a hazardous
materials and equipment inventory
system – HECHMET (Higher Education
Consortium for Hazardous Materials and
Equipment Tracking). This successful
partnership between the University of
Ottawa, Queen’s, Concordia and the Royal
0LOLWDU\&ROOHJHZRQÀUVWSUL]HDWWKH
CAUBO Quality and Productivity Awards.
created a Centre of Knowledge for the
Best Value Business Model in Ontario,
and then took the initiative to expand it to
include all universities in Canada using the
model. This project won second prize in
the Themed Category of the 2015 CAUBO
Quality and Productivity Awards.
As a leader, Elizabeth understands
the importance of focusing not only on
business processes and systems, but also
on the people side of managing change.
She is a mentor to many, sharing her
knowledge and encouraging others to
develop personally and professionally.
EMERGING LEADER AWARD
LEADERSHIP IN LEARNING AWARD
Michael J. Histed'LUHFWRU2IÀFHRI
Risk Management, University of Ottawa
0LFKDHOH[HPSOLÀHVOHDGHUVKLSERWKLQKLV
work at the University of Ottawa and in the
provincial, national and international risk
management arenas. He ensures that the
work accomplished by his team is shared
throughout the risk management and health
and safety communities, and frequently
spearheads high-impact initiatives in order
to establish precedent and/or common
ground with inter-university organizations
and regulators. As co-founder and past
Chair of the CAUBO Environmental
Health and Safety Committee (now the Risk
Management Committee) Michael helped
broker a deal with the Canadian Nuclear
Safety Commission to provide financial
guarantees instead of cash payments for
radioactive decommissioning projects on
Canadian campuses, and worked with
the Canadian Association of Research
Administrators (CARA) to interpret impacts
22
Elizabeth Krische, Director of
Procurement Services, Western University
Elizabeth’s extraordinary vision and
passion have been instrumental in
helping Western far surpass the targets
for collaborative procurement spending
set by the Ontario government. She
also developed a viable business case to
implement a user-friendly, cloud-based
eProcurement solution at Western that
launched on time and on budget and
whose savings targets are on track.
While Elizabeth’s commitment to
Western University and exemplary
procurement processes is unwavering, she
is also mindful of the larger University
community, seeking to collaborate
and improve process provincially and
nationally. Elizabeth built a proposal that
Deborah Collis, Director, Financial and
Administrative Services, Memorial
University of Newfoundland
Roxanne Millan, Director, Academic
Support Services, Memorial University
of Newfoundland
Both Deborah and Roxanne are longterm CAUBO volunteers, well known for
their support of continuing education for
members. Deborah is a past member and
Chair of the CAUBO Finance Committee
while Roxanne currently Chairs the
Academic Managers Committee.
This dynamic duo was a significant
contributor to making CAUBO’s Fall
2014 Higher Education Budgeting
Basics workshop the great success it
was. They played a key role in content
customization and delivery, adding real
value to the workshop by integrating
the Canadian context, sharing their own
experiences, and bringing a national
awareness of the topic to the discussion.
Their warm personalities made them
easy to listen to and very accessible to
workshop participants.
Centre for Higher Education Research and
Development (CHERD).
Honorary membership is bestowed
sparingly and only to those individuals
who are deemed to have made an
extraordinary contribution to CAUBO
and the management of higher
education. Honorary Members receive
free lifetime registration at CAUBO
annual conferences, so although Lucie
will retire in 2015, we hope to see her
there in the future.
THANK YOU!
CAUBO would like to thank all of our
dedicated volunteers, whose support,
dedication and expertise allow us to deliver
timely, useful and relevant resources and
information to members that facilitate and
support their work. We are truly fortunate
to have you on our team!
For more information about the CAUBO
Recognition Awards program, including
past winners and criteria, please visit
www.caubo.ca.
HONORARY MEMBERSHIP
Lucie Mercier-Gauthier, Associate
Vice-President, Student Services,
University of Ottawa
Lucie has been a generous and
consistent contributor to the University
sector at both the regional and national
level, serving as a member or Chair of
many CAUBO Committees including
Treasury, Financial Reporting,
Administrative and Support Services,
the Editorial Board, and the Q&P
Awards Selection Committee, as
well as on the Board of Directors. As
Chair of the Treasury Committee, she
was instrumental in heightening the
professional level of expertise across
the country in investment management
and supervised the creation of the Debt
Management Guide.
In 2005 Lucie was honored
with CAUBO’s Ken Clements
Distinguished Administrator Award,
re c o g n i z i n g h e r e x t r a o rd i n a r y
leadership and contributions to
CAUBO. She is also a past recipient
of the Ontario Finance Group’s
Distinguished Leadership Award.
Lucie has presented at many CAUBO
annual conferences and has been an
instructor for a number of years for
the University Management Course
in budget management offered by the
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23
es p r i x d e r e c o n n a i s s a n c e
d e l ’ A C PA U r é c o m p e n s e n t
l ’ e n g a g e m e n t d e s m e m b re s
bénévoles en ce qui a trait à l’excellence,
à la collaboration, au leadership et au
partage de l’information dans le secteur
de l’administration de l’enseignement
supérieur au Canada. L’ACPAU est
fière de présenter les lauréats des prix
de reconnaissance 2015.
L
PRIX KEN CLEMENTS POUR
ADMINISTRATEUR EXCEPTIONNEL
Michael J. Histed, directeur, Bureau de
la gestion du risque, Université d’Ottawa
Michael est un exemple de leadership tant
dans le travail qu’il mène à l’Université
d’Ottawa que dans les réseaux provinciaux,
nationaux et internationaux de la gestion
du risque. Non seulement s’assure-t-il
que le travail accompli par son équipe est
partagé dans tous les milieux de la gestion
du risque et de la santé et sécurité, mais il
prend aussi fréquemment des initiatives
particulièrement efficaces pour établir
des précédents ou des terrains d’entente
auprès d’organisations interuniversitaires
et d’organismes de réglementation.
À titre de cofondateur et d’ancien
président du Comité de l’environnement
et de la santé-sécurité au travail de
24
l’ACPAU (devenu le Comité de la gestion
des risques), Michael a contribué à élaborer
un accord avec la Commission canadienne
GH VUHWp QXFOpDLUH DÀQ TXH O·RQ SXLVVH
IRXUQLU GHV JDUDQWLHV ÀQDQFLqUHV SOXW{W
que des paiements comptants dans le cadre
de projets de déclassement d’installations
radioactives sur les campus canadiens, et
il a travaillé avec l’Association canadienne
des administratrices et des administrateurs
de recherche (ACAAR) pour interpréter
les effets et atténuer les risques afférents à
la Loi sur les agents pathogènes humains
et les toxines ainsi qu’aux règlements
qui s’y rapportent.
Sous la direction de Michael,
l’Université d’Ottawa a entrepris un projet
visant à élaborer un système d’inventaire
des équipements et produits dangereux –
le système HECHMET (Higher Education
Consortium for Hazardous Materials
and Equipment Tracking). Ce partenariat
fructueux entre l’Université d’Ottawa, la
Queen’s University, l’Université Concordia
et le Collège militaire royal du Canada a
remporté le premier prix du Programme
des prix de la qualité et de la productivité
de l’ACPAU en 2013.
Félicitations!
PRIX DE LEADER ÉMERGENT
Elizabeth Krische, directrice, Services
d’approvisionnement, Western University
Animée par une vision et une passion hors
du commun, Elizabeth a aidé la Western
University à largement surpasser les
cibles de dépenses en approvisionnement
FROODERUDWLIÀ[pHVSDUOHJRXYHUQHPHQWGH
l’Ontario. Elle a aussi monté un dossier
de justification viable pour mettre en
oeuvre une solution d’approvisionnement
infonuagique et conviviale à la Western
University, solution qui a été lancée au
moment et avec le budget prévus, et qui
est en bonne voie d’atteindre les objectifs
G·pFRQRPLHÀ[pV
Bien que son engagement envers
la Western University et les processus
d’approvisionnement exemplaires soit
indéfectible, Elizabeth est attentive à la
grande communauté universitaire; elle
cherche à collaborer avec ses collègues
et à améliorer les processus à l’échelle
provinciale et nationale. Elizabeth a
soumis une proposition qui a mené à la
création du Centre of Knowledge for the
Best Value Business Model en Ontario, puis
elle a pris l’initiative d’étendre cette idée à
toutes les universités du Canada utilisant le
modèle d’affaires « Best Value ». Ce projet
a remporté le deuxième prix de la qualité
et de la productivité de l’ACPAU dans la
catégorie thématique en 2015.
En qualité de leader, Elizabeth
comprend l’importance de se concentrer
non seulement sur les processus et les
systèmes administratifs, mais aussi sur
les gens qui gèrent le changement. Elle est
un mentor pour plusieurs, n’hésitant pas à
partager ses connaissances et à encourager
les autres à s’épanouir personnellement et
professionnellement.
PRIX DE LEADERSHIP EN
APPRENTISSAGE
Roxanne préside actuellement le Comité
des gestionnaires académiques. Ce duo
dynamique a contribué de près au succès
retentissant de l’atelier « L’ABC de la
budgétisation en enseignement supérieur
: concepts, création et connexions »
donné à l’automne 2014 par l’ACPAU.
Deborah et Roxanne ont joué un rôle clé
dans l’adaptation et la présentation du
contenu de l’atelier, et elles y ont ajouté une
valeur réelle avec l’intégration du contexte
canadien, le partage de leurs expériences
propres et la dimension nationale donnée
au sujet de discussion. Leurs personnalités
chaleureuses les ont rendues faciles à
écouter et très accessibles aux participants.
MEMBRE HONORAIRE
Deborah Collis, directrice,
6HUYLFHVÀQDQFLHUVHWDGPLQLVWUDWLIV
Memorial University of Newfoundland
Lucie Mercier-Gauthier, vice-rectrice
associée, Services aux étudiants,
Université d’Ottawa
Roxanne Millan, directrice,
Services de soutien académique,
Memorial University of Newfoundland
Deborah et Roxanne sont toutes deux des
bénévoles de longue date de l’ACPAU,
bien connues pour leur soutien à la
formation continue des membres. Deborah
a été membre et présidente du Comité
des finances de l’ACPAU, tandis que
Lucie a contribué avec générosité et
constance au secteur universitaire, tant
à l’échelle régionale que nationale, en
s’engageant comme membre ou présidente
dans de nombreux comités de l’ACPAU,
dont le Comité de trésorerie, le Comité
VXUOHVUDSSRUWVÀQDQFLHUVOH&RPLWpGHV
services administratifs et de soutien, le
Comité de rédaction, le Comité de sélection
des prix de la qualité et de la productivité,
ainsi que le conseil d’administration.
À titre de présidente du Comité de
trésorerie, elle a grandement contribué
à rehausser le niveau d’expertise
professionnelle en gestion de placements
dans tout le pays, et elle a supervisé la
création d’un guide sur la gestion de
la dette. En 2005, Lucie a reçu le prix
Ken Clements pour administrateur
exceptionnel en raison de son leadership
extraordinaire et de sa formidable
contribution à l’ACPAU. Elle a aussi reçu
dans le passé le prix pour leadership
exceptionnel de l’Ontario Finance Group.
Lucie a prononcé des conférences à
nombre de congrès annuels de l’ACPAU
et a été chargée de cours pendant plusieurs
années au Centre for Higher Education
Research and Development (CHERD)
pour le cours de gestion universitaire
(volet de la gestion budgétaire).
Le titre de membre honoraire est
prestigieux; il n’est conféré que rarement et
seulement aux personnes qui ont apporté
une contribution extraordinaire à l’ACPAU
ainsi qu’à la gestion de l’enseignement
supérieur. Les membres honoraires
reçoivent une inscription gratuite à vie
aux congrès annuels de l’ACPAU. Bien
que Lucie prenne sa retraite en 2015, nous
espérons la voir à nos prochains congrès.
MERCI!
L’ACPAU tient à remercier tous ses
bénévoles, car sans leur appui, leur
dévouement et leur expertise, il ne nous
serait pas possible d’offrir diligemment
à nos membres les ressources et
renseignements utiles qui viennent
faciliter et soutenir leur travail. Nous
sommes choyés de pouvoir compter sur
vous tous!
Pour en savoir plus sur le programme
des prix de reconnaissance de l’ACPAU,
les lauréats et les critères d’admissibilité,
veuillez visiter le www.acpau.ca.
Visit the CAUBO website
www.caubo.ca
Visitez le site Web de l’ACPAU
Visi
www.acpau.ca
CON
NT
TENT
TEN
TE
EN
ENT
E
NT S
25
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Introduction
Across Canada and around the world,
senior university leaders are watching
their IT budgets continue to grow. In an
era of greater cost scrutiny, this expanding
demand from IT seems counterintuitive
and senior university leaders are
increasingly questioning why. The simple
answer is that IT costs are growing because
universities are using IT more broadly and
more systemically in everything they do.
Yet that answer does not fully capture the
big picture. There are many forces driving
up costs and we need to understand what
we can control and what we cannot.
A brief history of IT cost,
complexity, and importance
The diagram below outlines the changing
role and characteristics of IT university
organizations as they have evolved over
the past few decades. Every year we
discover new and useful applications of
information technology in the university,
and we add new technologies to the
portfolio of systems we are required
to support. Constant technological
innovation means constant increases in
technology utilization, penetration, and
dependency in all aspects of university
research, administration, teaching, and
learning. As the importance of IT grows
on our campuses, so does its complexity
and cost.
Today we have a reached a point where
IT is ubiquitous. Every participant in the
university experience uses information
technology. From board members
accessing key documents on iPads to
researchers collecting data from underwater
observatories or students rating their
professors online, we all use some aspect
of IT every day.
In this environment, many of the cost
drivers are no longer within our control.
With internal and external forces driving
change, we face a vast array of controllable
and uncontrollable cost drivers.
Uncontrollable drivers of cost growth
The uncontrollable drivers of IT cost growth
are all around us. We live in an environment
of constant technological innovation, and
a university is not an island of splendid
isolation. Key areas of uncontrolled drivers
of growth in IT expenses are:
• Breadth of demand
Information systems are used by
everyone on campus. Everything we
do is impacted by IT. Every process
RQFDPSXV²IURPWUDGLWLRQDOÀQDQFLDO
transaction processing to more modern
applications such as plagiarism detection
– has an inherent IT component. In
everything we do, we demand more
and more information technology to get
things done at the university.
• Depth of demand
The average person brings 1½ IT devices
on campus with them every day; often a
laptop, an iPad, and a smartphone. Not
only are we using more systems, but we
are using more devices to access those
systems. IT must keep the response
time fast while seamlessly supporting
all points of access.
• Increasing compliance demands
We are experiencing increased demand
for information systems to support
legislative compliance in areas such
as privacy, copyright protection,
and freedom of information. Today,
a lawyer is often consulted before a
new system is even considered. The
legal and compliance implications of
any system are adding a new layer of
cost and complexity to everything we
do in IT.
• Increasing security demands
The IT world has become an
increasingly dangerous place. Hacking
has transcended simple acts of theft
into high-stakes criminal cyber-attacks.
We used to build firewalls, then we
reinforced the firewalls, but that’s
not enough anymore. The attacks are
coming from inside and outside our
boundaries. New security protection
UHTXLUHV DUWLÀFLDO LQWHOOLJHQFH WRROV WR
detect attacks inside the perimeter.
These new layers of security are vastly
more complex and expensive.
• Any device
Increasing demand to support
whatever technology the client desires
is expensive. We used to set some base
standards for personal computer access
to our network. Our clients no longer
tolerate that approach. Now we have
to install infrastructure and software to
support every device imaginable: Apple
PCs, Windows PCs, Linux PCs, Apple
tablets, Android tablets, Windows
tablets, Blackberries, and more.
Time
Characterization
Description
Today
IT is ubiquitous
Everyone and everything depends on IT
5 years ago
IT became mission critical
Universities could not run without it
10 years ago
IT became a growth enabler
Only IT could support growing demands
on campus
15 years ago
IT became a competitive advantage
Research universities discovered IT was a
competitive driver
20 years ago
IT became an innovation driver
IT solutions were driving innovative solutions
25 years ago
IT became an operational necessity
6SHFLÀFFDPSXVIXQFWLRQVUHTXLUHG,7WRRSHUDWH
30 years ago
IT became useful
IT was recognized as necessary for transaction
processing
35 years ago
IT became interesting
IT was still new in many areas on campus
and it was exciting
IT Cost
IT Complexity & Importance
Dependency Timeline
27
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turn to TABLE
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ABL
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CO
• Any time
IT department budgets were established
at a time when information systems
were accessed during regular business
hours. Today, accessibility to systems is
expected 24/7. Not only is availability
demanded, but round-the-clock
staff support is also required. This
broadening of system and support
availability requires more money to
implement and sustain.
• Any place
Similar to the any time cost driver, IT
departmental budgets were established
to support systems within the physical
boundaries of campus. Those days are
gone. Distributed learning, distance
education, and multiple campuses across
the globe now require access to all of
our systems from anywhere. Building
technical infrastructure to support the
networking demand of this new world
increases IT capital and operating costs.
• Quality of software
I taught a first-year undergraduate
business course recently. When the
students discovered I was the CIO
they told me, “Your systems suck.”
They were right. Compared to the cool
apps they commonly use (Facebook,
LinkedIn, Twitter, Instagram, etc.) our
systems fail. Satisfying these growing
quality expectations is expensive.
• New teaching
and learning technology
New innovations in teaching and learning
technology generate increasingly
large video and image databases. For
example, flipped classrooms require
new technology to record and store vast
volumes of video data. In-class student
response systems demand instantaneous
responses, requiring greater wireless
capacity. Students come to our
universities expecting the best classroom
experience possible. The cost to renovate
and upgrade our classrooms to new
and rapidly changing technology
accelerates the growth of IT and its
commensurate expenses.
• Exponential research data
volume growth
Research data demands are driven by
several changes in the nature of research
computing. For example, research using
vast arrays of sensor networks leads to
huge growth in pure data volume. Not
only do we have to store the data, but
we also have to transmit it over our
networks and back it up in our archive
systems. This massive growth in data
demand is outpacing Moore’s Law and
driving up costs.
Click HERE
RE
E to
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retu
turn to TABLE
TAB OF
OF CONTENTS
The full force of these drivers is affected by
factors outside the university. The best we
can do in these areas is to strive to manage
their impact on our bottom line and on our
clients’ expectations.
Controllable Drivers of Cost Growth
There are several cost drivers that are within
our control. The way universities manage
IT is the real culprit. The controllable
drivers of IT cost growth are insidiously
hidden behind seemingly unassailable
campus myths. Some key areas of cost
drivers that we can control include:
• Distributed IT
The growth of independent, isolated,
and silo IT departments that are separate
from central IT leads to duplication of
HIIRUWVLQHIIHFWLYHVWDQGDUGVFRQÁLFWLQJ
technologies, and highly risky security
incidents. At many universities, IT
expenditures for non-central IT are
often higher than those for central IT.
These non-central IT expenditures have
none of the rigour and controls typically
applied to central IT funding.
• Redundant systems
Distributed IT responsibilities lead to
the implementation of independent IT
systems without a coordinated plan,
creating overlapping and redundant
systems. Disproportionate cost increases
DUHQHHGHGWRIXQGWKHVHLQHIÀFLHQFLHV
• Data integration
Data created by distributed IT
departments and disparate systems
cannot be integrated effectively. Multiple
sources of data create duplication and
redundancy in each of these systems.
Resolution of data conflicts among
multiple systems or multiple IT
departments is expensive.
Independent IT support, overlapping
systems, and duplicated data issues arise
from a genuine need to be responsive to
unique and highly specialized local needs,
but without disciplined management, the costs
and risks are excessive.
Controlling these cost drivers is a non-trivial
management responsibility that lies within the
control of IT, academic, and administrative
leaders. Lack of control is acceptable only if
the associated risks and costs are formally
understood and accepted.
IT Is an Investment
Traditional IT departments spend almost 75%
of their budgets on operational support work
such as help desk, data centre management,
and maintaining applications software.
Only 25% of the budget is left for system
enhancements and new projects, which leaves
little room for innovation and creativity in the
application of IT and projects a grim future
for IT at our universities.
As a result of budget challenges, universities
need to shift their perspective on IT funding.
Instead of viewing it as a necessary evil to keep
everything up and running, expectations of
IT need to change. We need to view IT as an
investment in the future. IT is an institutional
investment opportunity to improve
productivity, capacity, quality, and performance
of all aspects of academia. Chief Information
2IÀFHUV &,2V PXVW EH FKDOOHQJHG WR PRYH
from the traditional 75% maintenance and 25%
projects model to a new order. Universities need
to invest in growth by setting an expectation
that their IT budgets will allocate 25% to
maintenance and 75% to investments.
An investment focus requires the
university to create prioritization criteria
for IT investments and then ensure all
institutional IT spending is assessed against
these criteria. The IT organization becomes
a creative partner with every university
department in applying the prioritization
mechanism to identify and implement revenue
opportunities, quality improvements, cost
HIÀFLHQFLHVDQGULVNPLWLJDWLRQV
The diagram below illustrates the shifting
emphasis.
IT is an Investment
Traditional IT Resource Allocation
25%
Projects
Ideal IT Resource Allocation
25%
Operations
75%
Operations
75%
Projects
“Keep the lights on”
“Invest in the future”
29
Finding the real costs
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+ Stewardship
+ Promoting Sustainable
Financial Markets
Measuring the real and full IT cost in a
higher education environment is complex
because IT funding comes from a variety
of sources. This multiplicity of sources
brings challenges in measuring the real
spend. Where do all the hidden costs lie?
Challenge the budget status quo: if all IT
funds are not managed by the central IT
department, understand why.
Getting an accurate picture of who
does IT work can be hidden behind the
heroic generalist. With distributed IT staff,
we see generalists who do everything
IURP+5ZRUNDQGÀQDQFLDOWUDQVDFWLRQV
to IT support. Counting those resource
costs as part of the overall IT spend is
GLIÀFXOW SDUWLFXODUO\ ZKHQ FHQWUDOL]LQJ
management of work.
Other costs are masked by unnecessary
duplication. Many technologies are
actively converging and some university
organizations have not adapted. For
example, audio-visual technology and IT
DUHFRQYHUJLQJLQWRDXQLÀHGWHFKQRORJLFDO
ecosystem, yet in many institutions they
remain managed by distinct and disparate
departments.
Shifting to investments
addenda-capital.com
30
Moving to an investment model means
changing the university’s IT portfolio.
What do we stop doing? Consider
spending less time doing IT commodity
work like administering email systems
and moving those resources up the
food chain. Can we centralize all email
on campus to a single email system
with one set of administrators? Can
we outsource this work to a provincial
shared service provider or outsource it
to the cloud? After all, teaching, learning,
and research are not dependent on our
email administrative skills.
Those administrative resources are
best re-purposed to leverage technology
in areas such as pedagogy or highperformance research computing.
Examine every commodity IT activity
as an opportunity to move to a new
service provision model – but they must
be products and services we understand
well. Never outsource something you
cannot manage.
When IT is no longer viewed as a
cost, but as an investment, each project
is an individual value proposition with
a positive return on investment (ROI).
IT projects are no longer bottom line
expenses – they are opportunities to
create products or services where the
EHQHÀWVH[FHHGWKHULVNVDQGH[SHQVHV
Click HERE to return
turn to TABLE
TABL
ABL
BLE OF
BLE
O CONTENTS
CONTENTS
CO
Top 5 Best Practices
Shift to a Common Infrastructure Move to a single, common infrastructure for all
information systems at the institution.
Leverage Shared Services Work with existing provincial and national higher
education service providers. Support and encourage development of these services.
Outsource to the Cloud Shift commodity services to the cloud when the
IXOOEXVLQHVVFDVHLVEHQHÀFLDODQGWKHVHUYLFHLV
trustworthy.
Review for Currency Review all information systems contracts as if
they were being signed today. What should be
changed?
Measure and Rationalize Measure the performance and utilization of the
university’s information systems. Stop investing
in low-value products and services.
Maximizing the
value of your IT spending
Moving to an investment-driven IT
organization means thinking differently
about the complete cost structure. There
are several emerging best practices in
managing IT expenses.
The most effective best practice in IT
cost containment is moving to a common
infrastructure. A common information
systems platform for the entire institution
PHDQVPDNLQJWKHGLSORPDWLFDOO\GLIÀFXOW
decision to centralize the management and
control of all information systems. One
IT department equals one procurement
process for all of IT and a single source of
the truth for all data.
Another best practice is developing
shared provincial services for higher
education IT. Much like provincial
regional networking organizations like
ORION or Cybera provide low cost
shared bandwidth across the province,
shared services in areas such as Disaster
Recovery Planning (DRP), data centre
management, and IT procurement can
lower costs for all higher education
institutions. BCNET is the Canadian
leader in this approach. CANARIE is also
pioneering services above the network
that can be shared nationally.
The cost-saving best practice receiving
the most attention in the press is cloud
computing. Essentially an outsourcing
economic model, cloud computing
delivers significant costs savings in
some commodity IT services. Any cloud
decision requires a careful business
case that assesses the quantitative and
TXDOLWDWLYHEHQHÀWVDJDLQVWWKHORQJWHUP
risks and hidden costs. When properly
assessed and closely managed, cloud
computing lowers IT operating costs.
Click HERE
RE
E to
to return
re
retu
turn to TABLE
TAB OF
OF CONTENTS
IT contracts tend to be written once and
then ignored, but there can be gold lurking
in the contract details. What software was
purchased years ago in a bundle that is
no longer being used? ERP contracts are
rife with these gems. Has staff, student,
or faculty headcount declined? Many
licensing contract fees vary by the number
of enterprise users, and vendors do not
always feel obliged to notify customers
when billing could decrease.
What can the university stop doing?
Develop metrics such as tracking usage
rates of technology over time. Then
calculate the ratio of the number of users
of each technology to the operating cost
of that technology. Use these numbers
to justify shutting down or outsourcing
technologies that are not providing an
appropriate ROI.
Apply these best practices across the full
portfolio of IT products and services and
use the savings to re-invest in the projects
the institution needs to move its strategic
vision forward. The table below highlights
WKHVHWRSÀYHEHVWSUDFWLFHV
Summary
Why does IT cost so much? First, the outside
world continues to demand more IT services
from universities. Second, universities are
diplomatically delicate in their treatment
of controllable IT costs. What we do about
these cost drivers depends on how we
manage expectations from the outside
and how we apply leadership, strategy,
and discipline to information systems
management within the institution.
The new world of IT is inexorably
growing in depth and breadth across all
campuses. Our dependency on IT grows
more every day, leading to an inevitable
growth in cost. The role of IT has increased
over the years, leading to a commensurate
increase in expense.
Managing costs in an environment
where external drivers dominate the
ODQGVFDSH LV GLIÀFXOW 7KHUH DUH LQWHUQDO
factors the university can control, but
the most effective strategy is to set new
expectations. The CIO must focus on a
vision for the future and shift the budget
model to support the new world of
ubiquitous IT.
Funding Your Future
BNY Mellon Asset Management helps Canada’s colleges and
universities plan for the future.
See how innovative we can be, contact:
Michael Parsons
416 775 5876
[email protected]
©2014 The Bank of New York Mellon Corporation. All rights reserved.
31
I
n an op-ed piece for the Ottawa
Citizen, Carleton Professor Emerita
Katherine Graham points out that the
word university is derived from the Latin
word universitas, meaning ‘the whole.’ Yet
institutions often experience a divide between
those working in professional services,
student services, and academia. These
silos extend to leadership development,
with this piecemeal approach only
reinforcing boundaries and the limitations
they impose. As universities face increasingly
difficult challenges, these complex
institutions need to draw on leadership
from across the institution, working together
toward the best possible solutions.
Accordingly, under the leadership of
President Roseann O’Reilly Runte, Carleton
developed an integrated leadership
development initiative alongside its
2013-2018 Strategic Integrated Plan (SIP).
“A colleague from professional services
and I moved the idea from something
we would like to do to something we are
doing,” says Graham, the initial academic
lead for Carleton Leader, the university’s
leadership development initiative.
Climbing the Andes
Climbing the Andes, the train zigzags
upward pushed alternately by one of
the two engines located at either end of
the carriage. Aboard, medical personnel
distribute oxygen masks to passengers as
the air thins and lungs gasp for breath.
But when you get to what feels like the
top of the world, the sunrise is simply
exquisite. There are goals which are well
worth the effort.
At Carleton University adopting a
strategic integrated plan was the logical,
if somewhat quixotic, next step for a
progressive community with burgeoning
academic and research portfolios.
Successful enterprises regularly bring into
32
DOLJQPHQW WKHLU GHYHORSPHQW ÀQDQFLDO
and cultural strategies. Universities are
GLIIHUHQWSDUWRIWKHQRWIRUSURÀWZRUOG
WKH\PD\ZHOOKDYHSURÀWFHQWUHV:KLOH
faculty are experts at interdisciplinary
work, departments often exist as silos in
ÀHOGVRIGUHDPVZKLFKDUHUHPRWHIURPWKH
central budgetary function. Areas such as
VWXGHQWVHUYLFHVDQGVWDIIEHQHÀWVPD\EH
worlds unto themselves. Faculty and staff
work together but may well see themselves
in a hierarchical fashion. Students are
partners in learning but may make
demands resembling those of customers
or, in some cases, as members of a union.
Few universities have even attempted to
create a truly integrated strategic plan. It was
not without trepidation that we embarked on
this project at Carleton University.
Parts of the plan were easily envisaged
and readily adopted by the entire academic
community. Bringing together physical plant,
ÀQDQFLDO UHVRXUFHV UHVHDUFK DQG WHDFKLQJ
in areas such as the environment, disability
services, health, including mental health,
security, and digital communications and
technology presented a natural continuation
for work already well-established in each of
these areas.
The most difficult goal was to make
leadership in all aspects of the University’s
operations and in every sector of the campus
The SIP process started with an
examination of the core academic plan, and
then brought in professional services and
student services as well. “All plans should
be integrated,” says Graham, noting
WKDW 5XQWH KDG LGHQWLÀHG LQWHJUDWLRQ DV
a priority, “but for Carleton, given our
history, the academic plan, professional
services plan, and student services plan
had developed at different points. This
was an opportunity, with a bit of time,
to draw all three plans together.” At the
same time, the university recognized that
integrated leadership development was
integral to moving the plan forward and
pursuing its mission of collaboration,
leadership and resilience, with impacts
that would continue far beyond the
lifespan of the SIP. The ultimate goal
was to develop a community of leaders
ZKR ZRXOG PDNH D VLJQLÀFDQW RQJRLQJ
contribution to Carleton’s success.
Like many universities, Carleton has
a history of holding short leadership
courses – one could say that they were
management courses – for people working
on campus, mostly in professional services
areas such as financial services. The
institution recognized that furthering its
goals would require moving from this
type of limited leadership training to
more global leadership development, in a
uniquely Carleton context.
Accordingly, Graham’s counterpart,
Cindy Taylor, Director at the Office of
Quality Initiatives, launched a working
group that looked at various models of
professional development for professional
services. At the same time, as Senior
Advisor to the President and Provost,
come together. While the strategic plan
spoke of leadership and excellence
in teaching and research as well as in
governance and management, there
was no obvious formula for bringing all
talents together.
A team including faculty, academic
and non-academic administrators visited
Sheffield, U.K. and, inspired by this
experience, proposed a version of the
program that institution had adopted. The
goals were to contribute to the leadership
capacity of faculty and staff from every
sector of the campus, to build a community
of engaged peers who are prepared to work
together as cross-sectorial teams, to share
understanding of major issues facing the
institution and society and to promote the
creation of positive and practical solutions
IRUWKHWUXO\GLIÀFXOWFKDOOHQJHVIDFHGE\
higher education in general and Carleton
8QLYHUVLW\LQVSHFLÀF%\LQYHVWLQJLQRXU
current faculty and staff, it was felt that
they might be empowered to contribute
actively to the achievement of the goals
in each sector, to remain at the University
and to understand not only the challenges
we face but to have the ability to work as
teams. These goals are the same as those
of every other sector as all governments,
companies and institutions look to
creating a climate of co-operation and
a positive working environment which
fosters innovation.
The Carleton program involved
leadership and communications training
in small teams of 20 faculty and staff
from across the campus. Each team was
challenged to identify a problem they
believed to be of significance, to develop
recommended solutions, understanding
that the only funds available for their
work were those they found themselves.
The teams had total freedom to identify
topics and to perform their work.
Administrators gave participants total
trust and respect asking only that they
would apply their efforts for the good
of the institution. Offered an array of
excellent solutions to difficult problems,
the administration would then have the
problem of having more solutions than
capacity to implement them. This meant
that, in turn, the teams had to have
respect and trust in the administration,
an atmosphere which could only
be developed with excellent, open
communication and understanding.
The teams selected meaningful topics
including institutional competitiveness,
the reputation of the University,
i n t e rd e p a r t m e n t a l c o l l a b o r a t i o n ,
internationalization and globalization vs
regional and local outreach, and faculty/
staff relations. Everyone gained a deeper
appreciation for the issues selected.
Some very specific recommendations
were made and adopted (including
some Web design and updated data
and access to information facilitating
collaborative work). Teams continue to
work and to profit by knowing people
Graham was given a mandate to look at
what was being done in terms of academic
leadership development, including the
kinds of tools needed by the chairs and
directors of academic departments. The
two agreed to coordinate their efforts and
explore different models.
“That is how we came upon this initiative
at Sheffield University that consciously
brought together academic leaders – and
up-and-coming leaders in the broader
context – with professional services leaders,”
explains Graham. She adds that a small group
of administrators from Carleton traveled
to the UK in November 2012 and spoke
WR SHRSOH ZKR ZHUH LQYROYHG LQ 6KHIÀHOG
Leader. “We decided that something akin
to that was the approach we would take.”
Unlike traditional leadership
GHYHORSPHQW LQLWLDWLYHV 6KHIÀHOG /HDGHU
who are located in different buildings
and departments. Good, professional
relationships have been developed
across sectors and individuals have
honed talents and skills and are
bringing them to excellent use in their
daily work and by taking advantage
of opportunities to join committees
across sectors that are designed to move
forward the integrated plan.
We are in the early light of dawn
these days. We see, however, the sun
rising over the campus and can see the
warmth that will be spread as a growing
number of staff and faculty have the
opportunity to participate in this
program. Integrating leadership is both
a theme and a requirement in this time
of economic stress when every agency,
every institution needs every member of
the team to understand the issues, to work
HIIHFWLYHO\DQGHIÀFLHQWO\DVDWHDPDQGWR
share their creative brilliance. Together, we
shall make the sun, not only rise but shine
its full promise.
I salute my colleagues who have
worked so carefully and diligently in
designing this program. I am proud
that Carleton can be considered a leader
in creative leadership and I signal this
program as an example of exceptionally
good governance.
Roseann O’Reilly Runte
President,
Carleton University
33
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Integrated leadership development
focuses on the concept of a ‘leaderful’
university. “We want to encourage all our
staff and faculty to be leaders, and not to
be restricted by hierarchy or position of
DXWKRULW\µH[SODLQV-DQH*LQQLYHU6KHIÀHOG·V
Director, Leadership & Management
'HYHORSPHQW´6KHIÀHOG/HDGHULVLQFOXVLYH
of all those employed by the University and
QRWUHVWULFWHGWRFHUWDLQVWDIÀQJJURXSVRUE\
VHQLRULW\µ 6KH DGGV WKDW 6KHIÀHOG /HDGHU
is not a ‘program,’ as there is no end point.
The focus is on continuously developing a
community and harnessing its potential to
EHQHÀWWKHLQVWLWXWLRQ
Although the Carleton initiative is
not identical to Sheffield Leader, it is
founded on the same precepts, including
the idea that “we work best when we
work together.” That leadership is spread
throughout the institution and not tied
to holding formal office. “In this way
everyone has the potential to play a
leadership role within the institution,” says
Graham. The idea is to invest in those who
have the greatest potential and interest in
leadership, regardless of what role they
currently play in the organization or how
far along they are in their career.
While adopting the basic principles
RI 6KHIÀHOG /HDGHU &DUOHWRQ UHGXFHG WKH
number of streams (or levels as they are
GHVLJQDWHG DW 6KHIÀHOG IURP WR 7KH
stand-alone streams are not intended to
be sequential or hierarchical. “We’ve had
assistant professors and junior associate
professors participate in Carleton Leader
Three, which is the broader of the three
streams,” explains Graham. “Each stream
is independent. It is not a progression. It is
not necessary to complete 1 and 2 to be in 3”
Carleton Leader 1 is for people who
are interested in learning and exploring
the notion of leadership. “There is a lot
of emphasis on sharing,” notes Graham.
Exercises include job shadowing and
journaling about leadership experiences.
Carleton Leader 2 is for people who
have or are looking to have institutional
LQÁXHQFH ZLWKLQ WKHLU RZQ XQLW EH LW DQ
academic unit or work unit in professional
services, and have already begun to work
outside their particular domain within the
university. Finally, Carleton Leader Three
is for those who have a broad reach of
HQJDJHPHQWDQGLQÁXHQFH
/LNH6KHIÀHOG&DUOHWRQDGRSWHGDSURFHVV
of nominating individuals to join the Leader
community, but with some adaptations.
To participate in Carleton Leader 1 or 2,
individuals can self-nominate or be
nominated by their manager/supervisor
(directors, deans, vice-presidents).
However, participation in Carleton 3 is
only via nomination by a senior leader.
For every round of Carleton Leader, the
university strives for balanced participation
in terms of gender, area of the university,
and representation from professional
services, student services, and academia.
Carleton Leader 1 involves a launch
followed by three-and-a-half days of
activities, all held on campus. Carleton
Leader 2 and 3 are held off-site. Each involves
three modules of two to three days each.
The modules encompass an examination
of leadership in general as well as in a
post-secondary context, with participants
ZRUNLQJ WRJHWKHU WR UHÁHFW RQ OHDGHUVKLS
within a paradigm that focuses on ‘me,’
¶ZH·DQG¶XV·¶7KH¶PH·LQYROYHVUHÁHFWLQJ
on personal leadership traits, while the ‘we’
involves working on a department team or
group level. The ‘us’ involves how we work
together for the betterment of the institution
and beyond,” explains Graham.
Carleton Leader 1 through 3 involves
DQLQWHUDFWLYHDQGUHÁHFWLYHSURFHVVDLPHG
at developing a shared sense of leadership
through a community of collaborative
leaders from all parts of the institution.
Participants in Carleton Leader 2 and 3
are formed into Strategic Impact Groups.
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They are given the opportunity to choose
topics of institutional interest on which
they work as a group and then present to
the broader community when they have
completed their work.
Graham describes this as the grand
conclusion of the formal part of Carleton
Leader, the focus being not on the
outcome but on the experience. “There is
no expectation that the outcomes will be
automatically useful for the university,”
she notes, “But in fact, a number of them
have been.”
However, the ultimate goal of Carleton
Leader is more about building capacity
than generating immediately-applicable
outcomes. Carleton Leader develops the
abilities of those recognized as being
leaders, broadening and better equipping
the pool for future leadership roles.
:KHQ LW ZDV ÀUVW ODXQFKHG &DUOHWRQ
Leader was met with an element of
surprise from the campus community,
particularly because it would be open to
everyone and participation was not tied to
one’s formal position at the university. “We
made it very explicit from the beginning
that participating in Carleton Leader
was not meant to guarantee or imply a
gateway to promotion,” notes Graham.
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“It’s about collaborating with others in the
institution, making the best contribution
as a leader that you can.”
“The fundamental premise of Carleton
Leader,” she continues, “is that we work
better together and that we will work
together better if we understand each
other. It’s intended to give people within
Carleton a better understanding of
leadership and an institutional awareness
across the institution.”
Overall, Carleton Leader has been
positively received, with members of
the university seeing the initiative as an
expression of the university’s interest in
faculty, professional services and student
services staff development. Of course,
there were lessons learned during the
implementation period and, thanks to
feedback, certain changes were made.
For instance, at first there was a
certain lack of understanding around
the selection process, which has since
been clarified. The university strives
for a 50/50 balance of faculty and
professional/student services staff.
“Sometimes it can be challenging to
convince faculty that Carleton Leader
will be beneficial to them and to get
them to commit,” adds Graham. “Our
best ambassadors are those who have
completed the program.”
At the same time, the significant
engagement of the senior institutional
leaders with participants of Carleton
Leader has helped its promotion, while
playing an important role in sustaining
the Leader community. Participants of
Carleton Leader are increasingly engaged
in the lead-up to the university’s next
strategic plan and have stepped forward
to lead initiatives such as a review of the
university’s BA offerings and the launch
of an internal fundraising campaign.
These are only two small examples of
a larger transformational change of
increased collaboration and initiative
among the faculty, professional services,
and student services communities.
Sustaining this leadership or ‘leaderful’
capacity is an ongoing process. To expand
the many connections, relationships, and
networks formed throughout all streams
of Carleton Leader, the university has
created the Carleton Leader Community.
The university provides the opportunity
for members of the community to get
together to discuss and deliberate the
current and future challenges of the
institution. Events such as a speaker’s
series, a town hall, and social get-togethers
have been scheduled throughout the
FRPLQJ \HDU ´6KHIÀHOG LV D OLWWOH IDUWKHU
ahead in that regard,” notes Graham,
“because they have been at it longer.”
Meanwhile, the two universities are
actively engaged in ongoing collaboration.
7KHLQLWLDOYLVLWWR6KHIÀHOGZDVIROORZHG
by a visit to Carleton in 2013 by a team from
the British university. “We also regularly
Skype both individually and with our
respective teams, to ensure we continue
to learn from each other and strengthen
our relationship,” says Ginniver. In
July 2015, representatives from both
universities delivered a presentation on
6KHIÀHOG&DUOHWRQ/HDGHUDWWKH1HWZRUN
for Change and Continuous Innovation
conference in Nashville.
In fact, by taking the lead on this project
and working together, the two institutions
are practicing the philosophy at the core of
their respective initiatives, collaborating to
take the lead in this exciting new approach
to leadership development. Or, as they
pointed out in their presentation at the
Nashville conference: “Alone we can do so
little; together we can do so much.”
For more information, please contact
Cindy Taylor at [email protected].
37
D
ans une lettre ouverte au Ottawa
Citizen, Katherine Graham,
professeure émérite de la
Carleton University, souligne que le mot
« université » vient du latin universitas,
TXLVLJQLÀH©FRPPXQDXWpª3RXUWDQWRQ
constate souvent dans ces établissements
une division entre les personnes qui
travaillent aux services professionnels
ou aux services aux étudiants ou qui
enseignent et font de la recherche.
Ces silos se retrouvent aussi dans le
développement du leadership, où cette
approche décousue ne fait que consolider
les barrières et les limites qu’elles
imposent. Comme ces établissements
complexes ont des difficultés toujours
plus grandes à surmonter, les universités
doivent s’appuyer sur les forces en
leadership de tous leurs secteurs, et sur des
gens qui travailleront ensemble à trouver
les meilleures solutions possibles.
Ainsi, sous la direction de la rectrice
Roseann O’Reilly Runte, Carleton a
élaboré une initiative de développement
du leadership intégré en parallèle à son
plan stratégique intégré (PSI) 2013-2018.
« Une collègue des services professionnels
et moi avons proposé de travailler à partir
de ce que nous faisions déjà », explique
Katherine Graham, première leader du
secteur de l’enseignement de Carleton
Leader, l’initiative de développement du
leadership de l’université.
Le processus d’élaboration du PSI
a commencé par l’examen du plan
académique, puis de celui des services
professionnels et des services aux étudiants.
« Tous les plans devraient être intégrés »,
DIÀUPH 0me Graham, en soulignant que
Mme Runte avait fait de l’intégration une
priorité, « mais à Carleton, compte tenu
de notre histoire, le plan académique, le
plan des services professionnels et le plan
des services aux étudiants ont tous évolué
différemment. L’occasion était bonne, en
prenant le temps, pour amalgamer ces trois
plans. » L’université a aussi reconnu que le
38
développement du leadership intégré était
essentiel à la mise en place de son plan
stratégique et à la poursuite de sa mission
de collaboration, de leadership et de
résilience, et qu’il aurait des répercussions
qui iraient bien au-delà du PSI. Le but
ultime : créer une communauté de leaders
qui contribueraient de façon soutenue et
continue au succès de l’établissement.
À l’image de bien d’autres universités,
Carleton a déjà offert à ses employés de
brefs cours de leadership – certains diront
qu’il s’agissait de cours de gestion –, surtout
à ceux des services professionnels (p. ex.
OHVVHUYLFHVÀQDQFLHUV/·pWDEOLVVHPHQWD
reconnu que pour atteindre ses objectifs,
il devait abandonner ce type de formation
limitée et opter pour une formule plus
globale de développement du leadership,
dans un contexte propre à Carleton.
C’est dans cette optique que la collègue
de Mme Graham, Cindy Taylor (directrice,
2IÀFH RI 4XDOLW\ ,QLWLDWLYHV D IRUPp XQ
groupe de travail chargé d’étudier divers
modèles de perfectionnement pour les
services professionnels. En parallèle, à titre
de conseillère principale de la rectrice et
vice-rectrice aux études, Katherine Graham
a reçu le mandat d’examiner ce qui se faisait
en matière de développement du leadership
académique, y compris le type d’outils dont
les titulaires de chaires et directeurs de
départements ont besoin. Les deux femmes
ont accepté de coordonner leurs travaux et
d’étudier divers modèles ensemble.
« C’est ainsi que nous sommes arrivées
jFHWWHLQLWLDWLYHGHOD6KHIÀHOG8QLYHUVLW\
qui réunissait consciemment les leaders
académiques – et les leaders émergents dans
un contexte élargi – ainsi que les leaders
des services professionnels », explique
M me Graham, en ajoutant qu’un petit
groupe d’administrateurs de Carleton s’est
rendu au Royaume-Uni en novembre 2012
pour discuter avec des gens de là-bas du
SURJUDPPH6KHIÀHOG/HDGHU©1RXVDYRQV
alors décidé que c’était le genre d’initiative
que nous voulions adopter. »
C o n t r a i re m e n t a u x i n i t i a t i v e s
conventionnelles de développement du
OHDGHUVKLSOHSURJUDPPH6KHIÀHOG/HDGHU
repose sur le concept de leaderful university
(université axée sur le leadership). « Nous
voulons encourager tous les membres de
notre personnel et du corps professoral
à jouer un rôle d’influence, sans égard
à la hiérarchie ou aux postes d’autorité,
explique Jane Ginniver, directrice du
OHDGHUVKLS HW GH OD JHVWLRQ j OD 6KHIÀHOG
University. Le programme Sheffield
Leader est offert à toute personne
employée par l’université; il n’est pas
réservé à certains groupes d’employés ni
aux hauts dirigeants. » Elle précise que
6KHIÀHOG /HDGHU Q·HVW SDV YpULWDEOHPHQW
un « programme » puisqu’il n’a pas de
ÀQFRPPHWHOOH,OYLVHOHGpYHORSSHPHQW
continu d’une communauté et la
valorisation de son potentiel pour le
mieux-être de l’établissement.
Même si elle n’est pas identique au
SURJUDPPH6KHIÀHOG/HDGHUO·LQLWLDWLYHGH
Carleton repose sur les mêmes préceptes,
notamment l’idée selon laquelle « les gens
travaillent mieux quand ils travaillent
ensemble ». Ce leadership se répand alors
dans tout l’établissement et ne sera pas
UDWWDFKpjXQHIRQFWLRQRIÀFLHOOH©'HFHWWH
façon, tout le monde peut jouer un rôle de
meneur dans l’établissement », commente
Mme Graham. Le but de cette façon de faire
est d’investir dans les individus qui ont
le plus de potentiel et qui s’intéressent le
plus au leadership, quel que soit leur rôle
dans l’organisation où le point où ils en
sont dans leur carrière.
Bien qu’elle ait adopté les principes de
EDVHGH6KHIÀHOG/HDGHU&DUOHWRQDUpGXLW
de quatre à trois le nombre de volets du
programme (ou de niveaux, comme on les
nomme dans le programme original). Ces
volets ne sont ni séquentiels ni hiérarchiques.
« Nous avons des professeurs adjoints
et de jeunes professeurs agrégés qui ont
participé au volet 3 de notre programme,
qui est le plus général des trois, explique
Mme Graham. Chaque volet est indépendant.
Ce n’est pas une progression : il n’est pas
nécessaire d’avoir suivi les volets 1 et 2 pour
suivre le 3. »
Carleton Leader 1 est destiné aux
gens qui s’intéressent à la notion de
leadership et souhaitent l’approfondir.
« Il y a beaucoup d’échanges dans ce
volet », souligne Mme Graham. Entre autres
exercices, mentionnons l’observation au
poste de travail et la consignation des
expériences de leadership. Carleton
Leader 2 intéressera les gens qui ont
ou qui aimeraient avoir une certaine
LQÁXHQFHSURIHVVLRQQHOOHGDQVOHXUXQLWp
qu’il s’agisse d’une unité académique ou
d’une unité de services professionnels,
et qui ont déjà commencé à travailler à
l’extérieur de leur propre domaine au sein
GH O·XQLYHUVLWp (QÀQ &DUOHWRQ /HDGHU Click HERE to return to TABLE OF CONTENTS
est conçu pour les personnes déjà très
HQJDJpHVHWTXLRQWXQHYDVWHLQÁXHQFH
O·LQVWDUGH6KHIÀHOG&DUOHWRQDDGRSWp
un processus de sélection des participants
au programme, qu’elle a toutefois adapté à
ses besoins. Pour participer au volet 1 ou
au volet 2, toute personne peut se porter
candidate ou faire proposer sa candidature
par son supérieur (directeurs, doyens,
vice-recteurs). Par contre, la participation
au volet 3 est réservée aux personnes
nommées par un haut dirigeant. Chaque
fois qu’un volet est offert, l’université veille
à assurer une participation équilibrée en ce
qui concerne le sexe des participants, les
secteurs de l’université et la représentation
des services professionnels, des services
aux étudiants et du secteur académique.
un sujet d’importance pour l’établissement
sur lequel ils vont travailler en groupe et
qu’ils vont présenter à la communauté
élargie une fois leur travail terminé.
Pour Mme Graham, cette dernière étape
est la « grande conclusion » de la partie
formelle de Carleton Leader, l’accent étant
mis non pas sur les résultats, mais sur
l’expérience. « On ne s’attend pas à ce que les
résultats soient nécessairement utiles pour
l’université, souligne-t-elle, mais plusieurs
d’entre eux l’ont effectivement été. »
Le but ultime de Carleton Leader
est toutefois beaucoup plus orienté
vers le renforcement des capacités que
la production de solutions applicables
sur-le-champ. Le programme stimule
le développement des compétences des
« Nous souhaitons stimuler la
collaboration entre les gens de
divers secteurs de l’établissement
et que chacun fasse la meilleure
contribution possible en
tant que leader. »
Carleton Leader 1 commence par une
introduction suivie de trois jours et demi
d’activités tenues à l’université. Les volets 2
et 3, donnés à l’extérieur, comportent trois
modules de deux ou trois jours chacun.
Dans ces modules, les participants
s’attardent à la notion de leadership en
général et dans le contexte de l’éducation
SRVWVHFRQGDLUHFHTXLOHVDPqQHjUpÁpFKLU
ensemble au leadership dans le cadre d’un
paradigme axé sur le « moi » et le « nous »
(à la fois we et us). « Le «moi» amène
OHV SDUWLFLSDQWV j UpÁpFKLU DX[ TXDOLWpV
personnelles de leadership, tandis que le
«nous/we» les fait travailler au sein d’une
équipe départementale ou d’un groupe.
Et le «nous/us» touche à notre façon
de travailler ensemble à l’amélioration
de notre établissement et plus encore »,
explique Mme Graham.
$[pV VXU O·LQWHUDFWLRQ HW OD UpÁH[LRQ
les volets 1, 2 et 3 de Carleton Leader
visent à développer une compréhension
commune du leadership par un groupe de
leaders collaboratifs de tous les secteurs de
l’établissement. Les participants aux volets 2
et 3 sont divisés en « groupes d’impact
stratégique ». On leur demande de choisir
personnes ayant des qualités reconnues
de leader, il enrichit le bassin d’individus
appelés à jouer ultérieurement un rôle
de tête et leur fournit les outils dont ils
pourraient avoir besoin.
Au début, Carleton Leader a été
accueilli avec surprise par la communauté
universitaire, surtout parce qu’il était
ouvert à tous et qu’il n’était pas réservé aux
titulaires de certains postes à l’université.
« Nous avons établi clairement dès le
départ que la participation au programme
n’était aucunement associée à une garantie
ni même à une possibilité de promotion,
souligne Mme Graham. Nous souhaitons
stimuler la collaboration entre les gens
de divers secteurs de l’établissement et
que chacun fasse la meilleure contribution
possible en tant que leader. »
« La prémisse de base de Carleton
Leader, poursuit-elle, c’est que nous
travaillons mieux ensemble et que nous
travaillerons encore mieux ensemble si
nous nous comprenons. Le programme a
pour but d’approfondir la compréhension
du leadership et de renforcer la
sensibilisation institutionnelle de toute
la communauté universitaire. »
39
Le développement du leadership intégré :
Dans l’ensemble, Carleton Leader
a été bien accueilli, les membres de la
communauté universitaire y voyant une
manifestation de l’intérêt de l’université
envers le perfectionnement du corps
professoral et du personnel des services
On a tout de même tiré certaines leçons
pendant la mise en place du programme
et apporté quelques changements à la suite
des commentaires reçus.
Au début, par exemple, on ne
comprenait pas très bien le processus
de sélection, qui a depuis été clarifié.
L’université vise la parité entre les
membres du corps professoral et le
personnel des services professionnels ou
aux étudiants. « Il n’est pas toujours facile
de convaincre les professeurs que Carleton
/HDGHUVHUDEpQpÀTXHSRXUHX[HWGHOHV
amener à participer, ajoute Mme Graham.
Nos meilleurs ambassadeurs sont les gens
qui ont suivi le programme. »
De plus, l’engagement remarquable de
la haute direction auprès des participants
de Carleton Leader a contribué à la
promotion du programme, tout en jouant
un rôle important dans la stimulation
de la « communauté des Leaders ». Les
participants sont en effet de plus en
plus engagés dans les étapes menant à
l’application du prochain plan stratégique
de l’université et se sont portés volontaires
pour mener des initiatives comme un
examen des programmes de premier cycle
en arts ou le lancement de la campagne
GHÀQDQFHPHQWLQWHUQH&HQHVRQWOjTXH
deux petits exemples d’une transformation
beaucoup plus large qui prend la forme
d’une collaboration accrue et d’initiatives
plus nombreuses de la part des employés
du corps professoral, des services
Le maintien ou la stimulation de
ces capacités de leader est d’ailleurs un
La route des Andes
Le train qui grimpe la route des Andes
zigzague vers le sommet propulsé
par l’un des deux moteurs logés aux
deux extrémités du convoi. À bord, le
personnel médical distribue des masques
à oxygène aux passagers, car l’air se
UDUpÀH HW OHV SRXPRQV FKHUFKHQW OHXU
VRXIÁH0DLVXQHIRLVUHQGXVOjRO·RQ
se sent au sommet du monde, le lever
de soleil est extraordinaire. Certains
objectifs valent bien tous les efforts
déployés pour les atteindre.
À la Carleton University, l’adoption
d’un plan stratégique LQWpJUp était la
prochaine étape logique, bien que
quelque peu chimérique, pour une
communauté universitaire progressiste
grouillant d’activités de recherche
et d’enseignement. Les entreprises
prospères font régulièrement
l’exercice d’aligner leurs stratégies
de développement, financières et
culturelles. Les universités fonctionnent
40
différemment toutefois : elles sont sans
but lucratif, mais il est possible qu’elles
génèrent des profits dans certains
secteurs. Bien que le corps professoral soit
spécialiste du travail interdisciplinaire,
les départements fonctionnent souvent
en silo dans des domaines exotiques
qui sont parfois bien loin des activités
budgétaires centrales. Des secteurs
comme les services aux étudiants et les
services de gestion des avantages sociaux
du personnel sont parfois deux mondes
tout à fait différents. Le corps professoral
et le personnel travaillent ensemble, mais
un sentiment de hiérarchie s’installe
parfois entre les deux. Les étudiants sont
partie prenante de leur apprentissage,
mais ils font parfois des demandes qui
ressemblent à celles de clients ou, dans
certains cas, à celles de syndiqués. Peu
d’universités ont tenté de se doter d’un
plan stratégique véritablement intégré.
Ce ne fut donc pas sans inquiétude que
nous nous sommes lancés dans cette
aventure à Carleton.
Certaines parties du plan étaient
faciles à élaborer et ont vite été adoptées
par l’ensemble de la communauté
universitaire. L’harmonisation des
LQVWDOODWLRQVGHVUHVVRXUFHVÀQDQFLqUHV
de la recherche et de l’enseignement dans
des secteurs comme l’environnement,
des services aux personnes handicapées,
des services de santé, incluant la
santé mentale, de la sécurité, des
communications électroniques et des
technologies était une suite naturelle aux
travaux déjà bien amorcés dans chacun
de ces secteurs.
/·REMHFWLIOHSOXVGLIÀFLOHjDWWHLQGUH
DpWpFHOXLG·XQLÀHUODGLUHFWLRQGHWRXV
les aspects des activités de l’université et
de tous les secteurs de l’établissement.
Bien que le plan stratégique énonce des
principes de leadership et d’excellence
en enseignement et en recherche, tout
processus continu. Pour renforcer les
nombreux liens et réseaux formés dans les
divers volets du programme, l’université
a formé la Carleton Leader Community.
L’université crée des occasions où les
membres de cette communauté se
rassemblent pour discuter et débattre
des problèmes actuels et futurs de
l’établissement. Des activités comme
une série de conférences, une discussion
ouverte et des rencontres sociales sont
d’ailleurs au calendrier de la prochaine
DQQpH©6KHIÀHOGDXQSHXG·DYDQFHVXU
nous à cet égard, constate Mme Graham,
parce qu’elle a commencé avant nous. »
comme en gouvernance et en gestion, il
n’y avait pas de formule magique pour
réunir tous ces savoir-faire.
Une équipe composée de professeurs
et d’administrateurs membres et non
membres du corps professoral se sont
rendus à Sheffield, au Royaume-Uni,
d’où ils sont revenus inspirés et prêts
à proposer une version du programme
adopté par cet établissement. Les objectifs :
développer la capacité de leadership du
corps professoral et du personnel de
tous les secteurs de l’université; créer
une communauté de pairs engagés
disposés à travailler ensemble au sein
d’équipes intersectorielles; se donner une
compréhension commune des grands
enjeux de l’université et de la société; et
promouvoir la recherche de solutions
positives et pratiques aux grands
problèmes de l’éducation supérieure en
général, et de Carleton en particulier. Nous
avons voulu investir dans les membres
actuels de notre corps professoral et
de notre personnel pour les amener à
contribuer activement à l’atteinte des
objectifs de chaque secteur, à demeurer à
O·XQLYHUVLWpHWjFRPSUHQGUHQRVGLIÀFXOWpV
tout en ayant la capacité de travailler en
équipe. Ces objectifs sont les mêmes que
ceux de bien d’autres secteurs puisque
tous les gouvernements, entreprises et
organismes cherchent à créer un climat
de collaboration et un milieu de travail
positif propice à l’innovation.
L e p ro g r a m m e d e C a r l e t o n
comportait des séances de formation
au leadership et en communications
en petites équipes de 20 membres
provenant du corps professoral et du
Entre-temps, les deux universités
poursuivent activement leur étroite
FROODERUDWLRQ/DSUHPLqUHYLVLWHj6KHIÀHOG
a été suivie de la visite à Carleton en 2013
d’une équipe de l’université britannique.
« Nous communiquons aussi souvent par
Skype soit individuellement, soit avec nos
équipes respectives, de manière à apprendre
constamment les uns des autres et à
UHQIRUFHUQRVOLHQVªDIÀUPH-DQH*LQQLYHU
En juillet 2015, des représentants des deux
universités ont livré une présentation
SRUWDQWVXUOHSURJUDPPH6KHIÀHOG&DUOHWRQ
Leader au congrès Network for Change and
Continuous Innovation tenu à Nashville.
personnel de l’université. Chaque équipe
devait trouver un problème qu’elle
jugeait préoccupant et recommander
des solutions en supposant que les
seuls fonds disponibles pour faire leur
travail étaient les fonds qu’ils trouvaient
eux-mêmes. Les équipes avaient tout
le loisir de choisir les sujets de leur
choix et de faire leur travail à leur
façon. Les administrateurs ont accordé
aux participants toute leur confiance
et leur respect en leur demandant
seulement de consacrer leurs travaux
au bien de l’établissement. Devant une
palette d’excellentes solutions à des
SUREOqPHV GLIÀFLOHV O·DGPLQLVWUDWLRQ D
alors eu le problème inverse, soit avoir
plus de solutions qu’elle est en mesure
d’en adopter. À leur tour, les équipes
RQW G DFFRUGHU OHXU FRQÀDQFH HW OHXU
respect à l’administration, dans un climat
que seules une communication et une
compréhension exceptionnelles et basées
sur l’ouverture pouvaient permettre.
Les équipes ont choisi des sujets de
grand intérêt, par exemple la compétitivité
de l’université, la réputation de l’université,
la collaboration interdépartementale,
l’internationalisation et la mondialisation
par rapport à l’action régionale et locale,
et les relations entre le corps professoral
et le personnel. Chacun y a approfondi sa
compréhension du sujet choisi. Quelques
recommandations très précises ont été
adoptées (notamment par rapport à des
travaux de conception web, de mise à
jour de données et d’accès à l’information
facilitant la collaboration). Les équipes
poursuivent leur travail et continuent
à s’enrichir en connaissant des gens
En fait, en prenant les devants dans
ce projet et en travaillant ensemble, les
deux établissements mettent en pratique
le principe fondamental de leurs
initiatives respectives, soit collaborer
pour mener ensemble cette nouvelle
approche captivante de développement
du leadership. Autrement dit, comme
l’ont souligné les représentants dans
leur présentation à Nashville : « Seul,
on peut faire si peu; ensemble, on peut
tant faire. »
Pour de plus amples
renseignements, écrire à Cindy
Taylor, [email protected].
qui travaillent dans d’autres pavillons
et départements. Des relations saines et
professionnelles se sont établies entre les
secteurs, et les individus ont développé
leurs talents et leurs compétences, qu’ils
PHWWHQWjSURÀWGHIDoRQH[FHSWLRQQHOOH
dans leur travail quotidien et en
participant à des comités intersectoriels
ayant pour mandat de mettre en place le
plan intégré.
Nous en sommes encore aux toutes
premières lueurs de l’aube. Nous
voyons cependant le soleil se lever sur le
campus et nous sentons déjà la chaleur
qu’il répandra sur un nombre toujours
croissant de professeurs et de membres
du personnel qui prennent part à ce
processus. L’intégration du leadership est
à la fois un thème et une exigence en cette
ère de tension économique où chaque
organisme et chaque établissement doit
veiller à ce que tous les membres de son
équipe comprennent bien les enjeux pour
collaborer avec efficacité et efficience
et partager leur intelligence créative.
Ensemble, nous veillerons à ce que le
soleil se lève, mais aussi qu’il brille de
tous ses feux.
Je remercie mes collègues qui
ont travaillé avec autant de soin et
de diligence à la conception de ce
SURJUDPPH -H VXLV ÀqUH TXH &DUOHWRQ
soit considérée comme une chef de
file du leadership créatif et je cite ce
programme comme exemple à suivre de
gouvernance exceptionnelle.
Roseann O’Reilly Runte
Rectrice,
Carleton University
41
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Tides of change in the financial sector
By Serge Germain, General Manager, Pension Plan, Université de Sherbrooke
2014
2013
2012
2011
14.0
15.3
2014
10.9
2011
12.1
11.0
2010
2013
10.8
2009
2012
10.9
8.7
2008
10.4
2007
9.0
2006
Figure 1. Survey statistics - endowments
Endowment
11.5%
10.2%
9.7%
>$100 M
8.1%
> $30 M to $100 M
Change in Assets and Investment Returns
Overall, 68 universities participated in
the survey with total endowment
DVVHWV ZRUWK ELOOLRQ 7KH UHSRUWHG
HQGRZPHQWYDOXHLVXSIURPELOOLRQ
LQDQGELOOLRQLQFigure 1).
It is interesting to note that four universities
have endowments greater than one billion
GROODUV7KHVHHQGRZPHQWVUHSUHVHQW
billion, or 38% of the total reported in
the survey.
As Figure 2 illustrates, the Larger
(QGRZPHQW )XQGV JURXS ! million) had the highest one-year median
return (11.5%), while the Smaller group
68
68
66
64
66
2010
2009
2008
2007
2006
2005
2004
61
67
67
69
67
72
2005
On behalf of the Treasury and Investment
Committee, I would like to thank
everyone who contributed to the survey.
The list of participating institutions
appears in Appendices I and II at the
end of the article.
Total Endowment Assets
($billions)
7.9
Pension
• PLOOLRQLQWRWDODVVHWV‘Smaller
Pension Funds’ – 6 funds
• !PLOOLRQWRPLOOLRQ²
10 funds
16 funds
• !PLOOLRQ‘Larger Pension Funds’ –
24 funds
Participants (Endowments)
> $10 M to $30 M
Endowment
• PLOOLRQLQWRWDODVVHWV‘Smaller
Endowment Funds’ – 10 funds
• !PLOOLRQWRPLOOLRQ²IXQGV
25 funds
• !PLOOLRQ‘Larger Endowment
Funds’ – 24 funds
2004
The 2015 CAUBO conference theme ‘Tides
of Change’ describes how universities have
VHHQ VLJQLÀFDQW IXQGDPHQWDO FKDQJHV RI
late, at times in tumultuous environments,
and must embrace change and harness
its energy to compete and excel in the
future. University treasurers, financial
professionals and Board committees must
constantly manage this change and adapt in
order to secure adequately-funded pension
plans and endowment funds that provide
intergenerational equity.
The information in this article is the
culmination of a process that starts in
February when member institutions are
invited to participate in Canada’s most
comprehensive survey of investments
held by post-secondary institutions’
endowment and pension funds. In April
and May, the CAUBO National Office
transforms the extensive data into the
results referenced below.
A stable participation base is central
for comparability of results from year
to year and among institutions. This
year there was a slight increase in the
number of institutions that participated
in both the endowment and pension
survey, as compared the previous year.
The following break points are included
in the survey to facilitate inter-university
comparison.
to $10 M
Introduction
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
High
Median
Low
Figure 2. One-year returns
(by endowment size) 2014
"The information in this article is the culmination of a process
that starts in February when member institutions are invited
to participate in Canada’s most comprehensive survey
of investments held by post-secondary institutions’
endowment and pension funds."
46
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Tides
Tid
des o
off c
change
hange iin
n tthe
he financial sector
2014
2013
> $100 M
> $30 M to
$100 M
> $10 M to
$30 M
to $10 M
> $100 M
> $30 M to
$100 M
> $10 M to
$30 M
to $10 M
High
14.5%
14.4%
15.8%
12.8%
27.8%
25.3%
21.1%
14.6%
Median
11.5%
9.7%
10.2%
8.1%
17.8%
16.1%
14.1%
9.3%
Low
6.2%
5.6%
4.5%
1.6%
-7.3%
-1.3%
4.5%
2.0%
Table 1: One year returns, by group, 2013 and 2014
PLOOLRQ KDG WKH ORZHVW RQH\HDU
median return (8.1%). The median return
for all participants was 10.3% as compared
to 16.1% in 2013.
While each of the four groups had lower
median one-year returns in 2014 as compared
to 2013, returns in the range of 10% are still
considered acceptable absolute returns. The
variation in the range in one-year returns in
2014 as compared to 2013 is worth noting
(see Table 1). In 2014, the Larger Funds
had the lowest range in returns (difference
between highest and lowest return) (8.3%)
compared to 2013 when this group had the
highest range (35%).
"The variation
in the range
in one-year
returns in 2014
as compared
to 2013 is
worth
noting."
GUARDIAN
ETHICAL MANAGEMENT
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49
"Note that over the
past ten years,
the median oneyear return for the
up to $10 million
group has often
had the lowest
returns, when
compared to the
other groups."
20%
15%
10%
5%
0%
-5%
to $10 M
-10%
>$10 M to $30 M
>$30 M to $100 M
-15%
>$100 M
to 2014
to 2013
to 2012
to 2011
to 2010
to 2009
to 2008
to 2007
to 2006
-20%
to 2005
Figure 3 shows the historical median
one-year returns by group. Note that over
the past ten years, the median one-year
UHWXUQ IRU WKH XS WR PLOOLRQ JURXS
has often had the lowest returns, when
compared to the other groups.
The historical median returns over
rolling 10-year periods are shown in
Figure 4. Each group showed slight
increases in their 10-year median returns
in 2014. Notwithstanding the good results
achieved in 2014, the overall 10-year
median return of 6.5% continues to remain
below the amount required to support
most universities’ spending rate and
FRYHULQÁDWLRQDU\SUHVVXUHV
Figure 3: Median one-year endowment returns by group
10%
9%
8%
7%
6%
5%
4%
to $10 M
3%
>$10 M to $30 M
2%
>$30 M to $100 M
1%
>$100 M
to 2014
to 2013
to 2012
to 2011
to 2010
to 2009
to 2008
to 2007
to 2006
to 2005
0%
Figure 4: Median 10-year endowment returns by group
CAUBO Connection
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newsletter? CAUBO Connection is sent out four
times a year, in between issues of the University
Manager magazine. It is full of timely information
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Info-ACPAU et GU,
pour tout savoir sur ce qui se passe dans le secteur!
Saviez-vous que l’ACPAU a maintenant un bulletin
électronique? Intitulé Info-ACPAU, il est diffusé
quatre fois par an, en alternance avec Gestion
Universitaire. Il regorge des renseignements les
plus à jour sur les activités à venir, la publication
de nouveaux rapports de recherche et d’autres
produits et services destinés aux membres de
l’Association. Vous pouvez le recevoir par courriel
et consulter en ligne les numéros déjà
parus, à www.caubo.ca, sous « Ressources et
publications ».
Si vous ne recevez pas déjà Info-ACPAU, il
VXIÀWG·HQIDLUHODGHPDQGHSDUFRXUULHOj/\QQH
Séguin, à l’adresse [email protected]. Restez au fait
de tout ce que l’ACPAU peut vous offrir!
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LOOKING
FOR...
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E angela.vidakovich@brookfield.com
1
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Asset Mix
As shown in Figure 5, the Larger Funds
have the highest allocation to equity and
alternative assets while having the lowest
allocation to fixed income. They also
distinguish themselves by allocating the
least to bonds.
Alternative assets in this context are any
LQYHVWPHQWV WKDW DUH QRW À[HG LQFRPH RU
publicly-traded equity. The most common
alternative assets for endowments are real
estate, hedge funds and private equity. The
redeveloped survey, launching in 2016, has
improved asset class categories which will
allow us to provide more detailed reporting
on these asset classes in future years.
"The most
common
alternative assets
for endowments
are real estate,
hedge funds and
private equity."
December 2014 - in quartiles by fund size
70.0%
n=9
n=10
n=25
n=24
>$100M
>$30M to 100M
>$10M to $30M
to $10M
57.9%
18.8%
61.9%
6.3%
52.6%
8.4%
38.9%
1.3%
21.8%
27.7%
35.6%
52.9%
1.5%
4.0%
3.5%
6.8%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
Equity
Alternative
Fixed
Income
Cash
Figure 5: Average asset allocation by size of endowment fund
The heavy bars indicate median values, purple boxes show the 25th to 75th
percentile ranges, and extended lines show the 10th to 90th percentile ranges.
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
to 2014
to 2013
to 2012
to 2011
to 2010
to 2009
to 2008
to 2007
to 2006
to 2005
to 2004
to 2003
to 2002
to 2001
0.0%
to 2000
2.0%
Figure 6: 10-year endowment returns for years ending December 31
To reach members of the postsecondary community through
advertising in the University
Manager, please contact me directly.
Al Whalen, Marketing Manager 1-866-985-9782 [email protected]
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Tides of change in the financial sector
Pension
Change in Assets and Investment Returns
There were 56 university pension plans
that participated in the survey this year,
ZLWKWRWDOSHQVLRQDVVHWVRIELOOLRQ
²DELOOLRQRULQFUHDVHRYHUWKH
previous year. (Figure 7)
As Figure 8 shows, pensions in the
Larger group had the highest one-year
median return (11.2%) while median
returns for the three Smaller groups
were all around 10%. The highest return
was 14.7%, earned by a plan worth over
PLOOLRQ DQG WKH ORZHVW UHWXUQ
was a gain of 7.5% by a fund worth
EHWZHHQ PLOOLRQ DQG PLOOLRQ
The median return for all plans in 2014
was 10.4%, similar to the median return
for endowment funds.
While one-year returns are of interest,
in order to assess the financial health
and sustainability of pension plans it is
important to look at longer-term returns.
Figure 9 shows historic moving average
10-year returns. The median 10-year return
has been relatively constant for the past
three years— in 2014 it was 6.9%—after the
steady decreases that were observed for a
number of years.
Committees of plans with an upcoming
valuation should already be reviewing
assumptions with their plan actuary to
ensure that they are still appropriate and
determine what changes may be required
in light of the potential impact that
Figure 10 shows the average asset allocation
mix by size of pension plan. Fixed income
allocations are relatively similar within
each sub-group. Similar to the results
from previous years, where plans differ
is in their allocations to alternative assets
versus equities. The Larger pension funds
have the highest allocation to alternative
assets and the lowest to equity. The exact
opposite is observed in the Smaller funds,
with very little invested in alternative
assets. Again, alternative assets are any
LQYHVWPHQWVWKDWDUHQRWÀ[HGLQFRPHRU
publicly-traded equity.
The heavy bars indicate median values, purple boxes show the 25th to 75th
percentile ranges, and extended lines show the 10th to 90th percentile ranges.
56
55
56
56
54
Asset Mix
16.0%
14.0%
2014
2013
50
2011
12.0%
2012
50
2010
2009
8.0%
44.7
39.4
35.5
31.4
34.4
31.3
6.0%
4.0%
to 2014
to 2013
to 2012
to 2011
to 2010
to 2009
to 2008
to 2007
to 2006
to 2005
to 2004
to 2003
to 2002
Figure 7: Survey statistics - pension plans
0.0%
to 2001
2014
2013
2012
2011
2010
2.0%
2009
28.1
2008
34.3
2007
34.4
2006
30.1
2005
25.4
Total Pension Plan Assets
($billions)
2004
10.0%
to 2000
2008
2007
2006
2005
2004
52
54
55
57
Participants (Pension Plans)
low bond yield might have on pension
contribution levels.
Figure 9: 10-year pension plan returns for years ending December 31
11.2%
>$500 M
9.9%
> $150 M to $500 M
9.9%
> $30 M to $150 M
to $30 M
10.3%
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
December 2014 - in quartiles by fund size
70.0%
n=7
n=10
n=16
n=24
to $30M
>$30M to 150M
>$150M to $500M
> $500M
62.5%
1.0%
60.2%
3.0%
57.1%
6.2%
51.2%
15.0%
32.5%
27.2%
33.2%
31.8%
4.0%
9.6%
3.5%
2.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
High
Median
Low
Figure 8: One-year returns
(by pension plan size)
0.0%
Equity
Alternative
Fixed
Income
Cash
Figure 10: Average asset allocation by size of pension plan
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55
Asset class
Index
one-year
four-year
10-year
Canadian equities
S&P/TSX Composite (capped)
10.6%
5.2%
7.6%
US equities
S&P 500 (CAD)
23.9%
20.1%
7.3%
Global equities
MSCI World (CAD)
14.4%
14.1%
5.7%
EAFE equities
MSCI EAFE (CAD)
3.7%
8.8%
4.1%
Emerging market equities
MSCI Emerging Markets (CAD)
6.6%
1.7%
8.1%
Canadian bonds
DEX Universe Bond
8.8%
5.1%
5.3%
Canadian long bonds
DEX Long-Term Bond
17.5%
8.2%
7.4%
Canadian real return bonds
DEX Real Return Bond
13.2%
4.6%
5.7%
Canadian short-term
DEX 91-day T-Bill
3.1%
2.9%
3.8%
1.5%
1.5%
1.7%
Inflation as measured by the Canadian consumer price index:
Figure 11: Returns of indices at December 31, 2014. Source: RBC Dexia Pooled Fund Survey (Source: RBC Dexia Pooled Fund Survey)
Conclusion
The index returns for traditional asset
classes and the variation of returns across
different asset classes are shown in Figure 11.
A high of 23.9% for the one-year return of
the S&P 500 (CAD) and a low of 3.1% for
Canadian short-term bonds is observed. On
a 10-year basis, Canadian equities returned
7.6%, US equities 7.3% in Canadian
dollars, and Canadian bonds 5.3%. These
UHWXUQVFRPELQHGZLWKLQÁDWLRQZKLFKDW
universities generally exceeds traditional
PHDVXUHVRILQÁDWLRQDUHQRWVXIÀFLHQWWR
maintain real endowment values. Indeed,
this market environment is one reason
why endowments have shifted their
asset allocations away from traditional to
alternative asset classes, and continue to
adjust their spending rates and methods.
In the survey, alternative asset classes are
categorized under ‘other’ and represent
19% of the average endowment fund on
a dollar-weighted basis. Compare this
to the 2001 survey, where the average
endowment asset allocation consisted of
RQO\HTXLWLHVDQGÀ[HGLQFRPH
Those charged with the oversight
of endowment and pension plans are
continuously riding the tides of change as
they examine on an ongoing basis whether
these plans are achieving their goals,
and make the necessary adjustments to
improve expected results. In times of
change, investment committees need
to understand what they can manage –
spending in the case of endowments, risk
in the case of pensions – and what they
cannot, and respond accordingly in order
to deliver results that allow universities to
grow and excel going forward.
56
TABL
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OF CONTENTS
CO
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ON
O
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TENT
TEN
TE
EN
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E
NT
N
TS
Canadian University Endowment Funds
Institutions
Toronto
British Columbia
McGill
Alberta
Queen’s
Calgary
Manitoba
McMaster
Western Ontario
Dalhousie
Victoria (UT)
York
Simon Fraser
Victoria (BC)
Guelph
Saskatchewan
Waterloo
Montréal
Ottawa
Carleton
Laval
New Brunswick
Mount Allison
Ryerson
Windsor
Wilfrid Laurier
Concordia
Trinity (UT)
Lakehead
Memorial
Moncton
Brock
Acadia
Northern BC
MacEwan
Brandon
HEC Montréal
Winnipeg
Lethbridge
Trent
Mount Royal
Laurentian
King’s (NS)
Regina
Bishop’s
Sherbrooke
PEI
Saint Mary’s
Cape Breton
Mount St. Vincent
Saint-Paul
UQAM
Huron
Vancouver Island
Trinity Western
Sudbury
OCAD
Saint-Boniface
Fraser Valley
ETS
Thorneloe
Emily Carr
Redeemer
Algoma
Huntington
Athabasca
Sainte Anne
UQTR
SIAST
St. Francis Xavier
2014
Ranking
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
Weightings:
Mean
Median
Dollar-weighted mean
Assets
$ Millions
2,060
1,401
1,356
1,057
852
715
605
551
546
511
476
434
378
377
325
317
317
280
246
197
166
163
157
113
99
91
88
85
82
80
78
77
74
71
60
59
59
54
54
51
49
45
41
40
39
37
36
34
31
26
20
20
19
18
17
16
15
15
10
9
7
5
5
5
3
3
2
0
Canadian Equity
25%
25%
21%
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Equity
Canadian
Foreign
13%
30%
26%
35%
10%
38%
19%
53%
20%
43%
36%
39%
29%
38%
21%
43%
21%
33%
17%
46%
6%
20%
15%
55%
34%
34%
28%
34%
19%
49%
18%
39%
24%
18%
22%
34%
7%
45%
35%
35%
20%
36%
27%
33%
20%
54%
29%
33%
31%
33%
17%
17%
34%
28%
14%
33%
74%
21%
34%
20%
24%
29%
14%
45%
39%
32%
25%
37%
21%
57%
36%
28%
18%
45%
27%
47%
40%
38%
19%
41%
25%
25%
31%
21%
39%
30%
25%
43%
29%
37%
16%
34%
28%
29%
49%
28%
20%
39%
20%
40%
5%
3%
29%
17%
28%
35%
20%
39%
36%
32%
29%
33%
32%
34%
24%
26%
22%
24%
0%
0%
35%
18%
0%
0%
42%
24%
41%
29%
29%
33%
32%
27%
18%
2%
0%
0%
Foreign Equity
32%
33%
37%
Appendix I
Fixed
Income
22%
19%
21%
16%
18%
24%
21%
31%
24%
22%
6%
30%
26%
28%
29%
27%
58%
36%
23%
26%
30%
39%
27%
38%
36%
45%
25%
21%
5%
46%
39%
41%
29%
29%
22%
36%
20%
26%
22%
40%
40%
49%
32%
22%
35%
34%
44%
23%
41%
40%
25%
54%
38%
41%
31%
38%
35%
50%
53%
100%
47%
100%
35%
30%
38%
41%
48%
100%
Fixed Income
35%
32%
24%
Other
35%
20%
31%
12%
20%
0%
12%
4%
23%
15%
68%
0%
6%
10%
3%
16%
0%
9%
26%
5%
13%
0%
0%
0%
0%
21%
14%
32%
0%
0%
8%
0%
0%
10%
0%
0%
16%
0%
0%
0%
10%
0%
0%
10%
0%
16%
0%
0%
0%
0%
68%
0%
0%
0%
1%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
31%
0%
2013
Ranking
1
2
3
4
5
6
7
8
9
10
11
12
14
13
15
17
16
18
19
20
21
22
23
24
28
26
27
29
30
32
31
34
33
35
36
38
37
40
39
41
42
43
44
45
47
46
48
49
50
51
52
53
54
55
57
56
Assets
$ Millions
1,839
1,271
1,217
979
774
638
546
521
482
482
457
405
336
348
295
277
288
245
225
190
155
142
138
108
82
84
83
77
75
74
74
69
69
64
56
52
54
48
50
48
46
41
38
35
33
33
31
30
28
24
20
18
17
15
14
15
58
59
60
62
61
63
13
9
9
7
7
4
64
3
66
2
65
25
2
108
Other
8%
0%
17%
57
G A I N M O R E C E RTA I N T Y
Defined benefit pension plan sponsors say they face many uncertainties in 2015.
80% 66% 64%
are worried about
interest rate levels
are concerned about
market volatility
are increasing
their focus on risk
management 1
One thing is certain. Our 150 years of experience in investment management
are the result of talented people, a rigorous process and unique private assets.
Gain the private market advantage with Sun Life Investment Management Inc.
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C A N A D I A N CO M M E RC I A L M O RTG AG E
C A N A D I A N R E A L E S TAT E F U N D
LIABILITY DRIVEN INVESTMENT
Sun Life Investment Management – solutions for institutional investors.
1
The 2015 Sun Life Investment Management Defined Benefits Plan Sponsor Executives study was conducted by Rogers Customer Insights, January 19 – March 6 and March 10 – 20, 2015. The
100 self-selected respondents come from the Canadian Institutional Investment Network database and include persons serving in executive or management roles at the pension plans.
Margin of error +/-8.7%. Sun Life Investment Management is the brand name under which the investment operations of Sun Life Assurance Company of Canada and Sun Life Investment
Management Inc. operate. Sun Life Investment Management Inc. is a Canadian registered portfolio manager, investment fund manager and exempt market dealer and is the manager and
distributor of the funds. Subscriptions for units of a fund will only be considered on the terms of the offering memorandum of the fund, which will be available to qualified Canadian
institutional investors. This communication is intended to be general in nature only and does not constitute a specific offer to buy and/or sell securities, insurance or investment services.
Investors should consult with their professional advisors before acting upon any information contained herein.
Canadian University Pension Funds
Appendix II
Equity
Canadian
Foreign
2014
Ranking
Assets
$ Millions
Fixed
Income
Other
2013
Ranking
Assets
$ Millions
Toronto
1
3,783
13%
Montréal
2
3,374
13%
32%
23%
32%
1
3,246
33%
37%
17%
2
Québec
3
3,367
3,050
16%
30%
32%
23%
3
Laval
4
3,049
2,702
11%
27%
44%
19%
4
York
2,430
5
1,995
14%
45%
36%
5%
5
1,767
British Columbia (Faculty)
6
1,922
29%
28%
34%
9%
6
1,744
Ottawa
7
1,873
10%
46%
20%
25%
7
1,728
Queen’s
8
1,748
22%
35%
28%
15%
8
1,647
McMaster
9
1,595
20%
48%
32%
0%
9
1,436
Western Ontario
10
1,354
21%
40%
40%
0%
10
1,275
Waterloo
11
1,317
4%
31%
57%
8%
11
1,198
Memorial
12
1,280
28%
33%
25%
14%
1,161
Institutions
Guelph
13
1,274
23%
40%
33%
4%
12
British Columbia (Staff)
14
1,272
15%
21%
45%
20%
14
1,091
McGill (Accumulation)
15
1,203
16%
37%
31%
17%
13
1,137
Saskatchewan
16
1,163
26%
34%
40%
0%
15
1,070
Manitoba
17
1,093
37%
23%
35%
6%
16
1,033
Dalhousie
18
1,064
15%
35%
34%
16%
17
962
Carleton
19
1,030
31%
38%
27%
4%
18
957
Ryerson
20
1,026
1%
28%
30%
41%
19
933
Victoria BC (Comb. & Money)
21
1,006
22%
36%
31%
11%
20
900
Sherbrooke
22
847
31%
35%
34%
0%
21
778
Concordia
23
846
3%
32%
44%
21%
22
777
Windsor
24
634
31%
31%
39%
0%
23
577
Wilfrid Laurier
25
459
23%
29%
37%
12%
24
404
École Polytechnique
26
421
26%
29%
42%
4%
25
373
Brock
27
417
15%
48%
38%
0%
26
361
HEC Montréal
28
357
18%
46%
21%
16%
27
333
Laurentian
29
351
26%
31%
36%
7%
29
319
Regina DB
30
345
19%
45%
29%
8%
28
324
Simon Fraser (Academic)
31
322
26%
38%
37%
0%
30
297
Simon Fraser (Admin. & Union)
32
294
28%
32%
35%
6%
31
263
Trent
33
285
29%
30%
41%
0%
32
260
New Brunswick
34
276
20%
34%
46%
0%
33
254
Moncton
35
264
29%
29%
38%
4%
34
252
Victoria BC (Staff)
36
229
14%
32%
39%
16%
37
208
Lakehead
37
221
33%
35%
32%
0%
35
221
PEI
38
213
28%
28%
28%
15%
38
196
McGill (Pensioner)
39
198
0%
30%
59%
11%
36
209
Brandon
40
156
34%
26%
40%
0%
39
144
Saint Mary’s
41
144
23%
35%
42%
0%
40
135
Winnipeg
42
125
17%
37%
36%
10%
41
126
Acadia
43
123
31%
31%
38%
0%
42
115
Bishop’s
44
116
33%
30%
28%
10%
43
108
Regina DC
45
113
19%
43%
35%
2%
44
95
St. Francis Xavier
46
96
35%
24%
40%
1%
45
87
Northern BC
47
72
44%
20%
35%
1%
46
63
Mount Allison (Academic)
48
52
30%
35%
35%
0%
47
50
Victoria (UT)
49
51
27%
36%
37%
0%
48
45
Mount Allison (Non-Academic)
50
34
19%
40%
42%
0%
49
30
Sainte-Anne
51
29
30%
29%
38%
4%
51
27
Saint-Boniface
52
28
23%
37%
38%
3%
50
28
Trinity (UT)
53
26
33%
29%
38%
0%
53
23
24
King’s (NS)
54
26
38%
29%
34%
0%
52
Algoma
55
23
41%
29%
30%
0%
55
21
Saint-Paul
56
23
35%
31%
34%
0%
54
22
Weightings:
Canadian Equity
Foreign Equity
Fixed Income
Other
Mean
23%
33%
36%
8%
Median
23%
32%
36%
4%
Dollar-weighted mean
18%
34%
34%
14%
Clllic
Cli
Clic
C
Click
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ick HERE
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ERE
R E to
to return
re
59
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the ground up.
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All data is as at June 30, 2015.
†
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Invesco® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence. © Invesco Canada Ltd., 2015
Vagues de changement dans
le secteur financier
Par Serge Germain, Directeur général, comité de retraite, Université de Sherbrooke
68
66
68
64
2014
2013
2012
2011
2010
2009
2008
2007
2006
61
67
66
69
67
72
67
2004
2005
10,9
2011
15,3
11,0
2010
14,0
10,8
2009
2014
8,7
2008
2013
10,9
2007
12,1
10,4
2006
2012
9,0
Total de l’actif des fond de dotation
(milliards de $)
7,9
Caisses de retraite
• PLOOLRQVHQDFWLIV‘Petites caisses de
retraite’ – 6 fonds
• !PLOOLRQVjPLOOLRQV²IRQGV
• !PLOOLRQVjPLOOLRQV
– 16 fonds
• > 500 millions ‘Grandes caisses de
retraite’ – 24 fonds
Au nom du Comité des placements et de la
trésorerie, j’aimerais remercier tous ceux et
celles qui ont participé à notre sondage. La
OLVWHGHVpWDEOLVVHPHQWVSDUWLFLSDQWVÀJXUH
aux Annexes I et II, qui suivent cet article.
Participants (fonds de dotation)
2005
Fonds de dotation
• PLOOLRQVHQDFWLIV‘Petits fonds de
dotation’ – 10 fonds
• > 100 millions ‘Grands fonds de
dotation’ – 24 fonds
2004
Figure 1 : Statistiques du sondage –
fonds de dotation
Fonds de Dotation
11.5 %
10.2 %
9.7 %
>100 M$
8.1 %
> 30 M$ à 100 M$
Variation des actifs et rendements
Au total, 68 universités ont participé au
sondage et ont déclaré des actifs de dotation
d’une valeur globale de 15,3 milliards
de dollars. Cette valeur est supérieure à
celles de 2013 et de 2012, qui s’élevaient
respectivement à 14 milliards et à 12,1
milliards de dollars (Figure 1). Soulignons
au passage que quatre universités ont des
fonds de dotation qui dépassent le milliard
de dollars. Ces quatre fonds ont une valeur
globale de 5,9 milliards, ce qui représente
38 % des actifs déclarés dans le sondage.
Comme le montre la Figure 2, le groupe
GHVJUDQGVIRQGVGHGRWDWLRQ!0D
enregistré le rendement annuel médian le
> 10 M$ à 30 M$
Le thème du congrès 2015 de l’ACPAU,
« Vagues de changement », décrit les
changements considérables qu’ont subis
les universités dernièrement, parfois
dans un contexte plutôt tumultueux. Les
établissements doivent s’approprier ces
changements et en canaliser l’énergie pour
être concurrentiels et exceller dans les années
à venir. Les trésoriers, les professionnels
GHVÀQDQFHVHWOHVFRPLWpVGHFRQVHLOGHV
universités doivent constamment gérer ces
changements et s’y adapter pour maintenir
des caisses de retraite et des fonds de
GRWDWLRQELHQÀQDQFpVSRUWHXUVGHO·pTXLWp
intergénérationnelle.
Le présent article est l’aboutissement
d’un processus lancé en février, alors
que nous invitions nos établissements
membres à participer au sondage canadien
le plus complet sur les placements des
fonds de dotation et caisses de retraite
des établissements d’enseignement
postsecondaire. En avril et mai, le bureau
national de l’ACPAU en a dépouillé les
données exhaustives pour en faire le
résumé que voici.
Il est primordial pour nous de pouvoir
compter sur une participation stable de
façon à pouvoir comparer les résultats
d’année en année et entre les établissements.
Comparativement à l’année précédente,
nous avons connu cette année une légère
hausse de participation à la fois au sondage
sur les fonds de dotation et à celui sur les
FDLVVHV GH UHWUDLWH$X[ ÀQV GX VRQGDJH
nous avons créé les catégories suivantes
de manière à faciliter la comparaison entre
les universités.
< $10 M
Introduction
18 %
16 %
14 %
12 %
10 %
8%
6%
4%
2%
0%
Haut
Médiane
Bas
Figure 2 : Rendements annuels 2014
(selon la taille du fonds de dotation)
<<Le
présent article est l’aboutissement d’un processus lancé en
février, alors que nous invitions nos établissements membres
à participer au sondage canadien le plus complet sur les
placements des fonds de dotation et caisses de retraite des
établissements d’enseignement postsecondaire>>
62
TABL
LE OF
OF CONTENTS
CO
CON
C
ON
O
NT
TENT
TEN
TE
EN
ENT
E
NT
N
TS
<<L’écart
entre les rendements annuels en 2014, comparativement
à 2013, est particulièrement remarquable.>>
2014
2013
> 100 M$
> 30 M$ 100 M$
> 10 M$ 30 M$
<10 M$
> 100 M$
> 30 M$ 100 M$
> 10 M$ to
30 M$
< 10 M$
High
14,5 %
14,4 %
15,8 %
12,8 %
27,8 %
25,3 %
21,1 %
14,6 %
Médiane
11,5 %
9,7 %
10,2 %
8,1 %
17,8 %
16,1 %
14,1 %
9,3 %
Bas
6,2 %
5,6 %
4,5 %
1,6 %
-7,3 %
-1,3 %
4,5 %
2,0 %
Tableau 1 : Rendements annuels par groupe, 2013 et 2014
20 %
15 %
10 %
5%
0%
-5 %
< 10 M$
-10 %
>10 M$ à 30 M$
>30 M$ à 100 M$
-15 %
>100 M$
fin 2014
fin 2013
fin 2012
fin 2011
fin 2010
fin 2009
fin 2008
fin 2007
fin 2006
fin 2005
-20 %
Figure 3 : Médianes des rendements annuels des fonds de dotation, par groupe
10 %
9%
8%
7%
6%
5%
4%
< 10 M$
3%
>10 M$ à 30 M$
2%
>30 M$ à 100 M$
1%
>100 M$
fin 2014
fin 2013
fin 2012
fin 2011
fin 2010
fin 2009
fin 2008
fin 2007
fin 2006
fin 2005
0%
plus élevé (11,5 %) et celui des petits fonds
0 OH UHQGHPHQW DQQXHO PpGLDQ
le moins élevé (8,1 %). La médiane des
rendements de l’ensemble des participants
est de 10,3 %, comparativement à 16,1 %
l’année précédente.
Bien que les quatre groupes aient
en reg i s tré u n ren d em en t a n n u e l
médian plus bas en 2014 qu’en 2013,
des rendements avoisinant les 10 %
sont tout de même considérés comme
acceptables. L’écart entre les rendements
annuels en 2014, comparativement à
2013, est particulièrement remarquable
(voir le Tableau 1). En 2014, le groupe
GHV JUDQGV IRQGV DIÀFKDLW O·pFDUW OH SOXV
petit (différence entre le rendement le plus
élevé et le rendement le plus bas) (8,3 %)
alors qu’il enregistrait le plus grand en
2013 (35 %).
La Figure 3 présente l’évolution des
médianes des rendements annuels par
groupe. Soulignons qu’au cours des dix
dernières années, le rendement annuel
médian du groupe des petits fonds a
souvent enregistré les rendements les plus
bas de tous les groupes.
La Figure 4 présente les rendements
médians sur une période continue de 10 ans.
Tous les groupes ont vu leur rendement
médian sur 10 ans augmenter légèrement
en 2014. Toutefois, malgré les bons résultats
enregistrés en 2014, le rendement médian
global de 6,5 % sur 10 ans demeure trop
faible pour subvenir au rythme de dépenses
de la plupart des universités et pour contrer
OHVSUHVVLRQVLQÁDWLRQQLVWHV
Figure 4 : Rendement médian des fonds de dotation sur 10 ans, par groupe
Clllic
Cli
Clic
C
Click
liic
ick HERE
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ERE
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re
63
Vagues de changement dans le secteur financier
Composition de l’actif
Comme le montre la Figure 5, le groupe
des grands fonds détient la plus grande
proportion d’actions et d’actifs non
traditionnels et la plus petite proportion
d’actifs à revenu fixe. Il est aussi le
groupe qui consacre la plus petite part
de son actif aux obligations d’épargne.
Par actifs non traditionnels, on
désigne ici les placements autres que
OHVWLWUHVjUHYHQXÀ[HRXOHVWLWUHVFRWpV
en bourse. Les actifs non traditionnels
les plus communément détenus par des
fonds de dotation sont l’immobilier, les
fonds spéculatifs et les capitaux-propres.
Dans la prochaine version du sondage
(prévue pour 2016), nous détaillerons
davantage ces catégories d’actifs, ce
qui nous permettra de présenter des
renseignements plus précis.
Caisses De Retraite
Variation des actifs et rendements
Au total, 56 universités ont participé à la
partie du sondage sur les caisses de retraite
cette année et ont déclaré un actif de retraite
d’une valeur globale de 44,7 milliards de
dollars, une hausse de 5,3 milliards ou de
13,5 % par rapport à l’année précédente
(Figure 7).
Comme le montre la Figure 8, le
groupe des grandes caisses de retraite a
enregistré le meilleur rendement annuel
médian (11,2 %), tandis que celui des
trois plus petits groupes tournait autour
de 10 %. C’est une caisse d’une valeur de
SOXVGH0TXLDDIÀFKpOHUHQGHPHQW
le plus élevé (14,7 %), et une caisse valant
HQWUH0HW0TXLDHQUHJLVWUpOH
plus bas (7,5 %). En 2014, l’ensemble des
caisses a connu un rendement médian de
10,4 %, ce qui est semblable au rendement
médian des fonds de dotation.
Participants (caisses de retraite)
Décembre 2014 - par trimestre et par taille du fonds
54
2014
2013
50
2012
2010
2009
2008
2007
2006
30,0 %
2005
2004
40,0 %
2011
50
52
50,0 %
56
55
60,0 %
55
n=24
56
n=25
54
n=10
57
n=9
56
70,0 %
20,0 %
44,7
39,4
Figure 7 : Statistiques du sondage caisses de retraite
Figure 5 : Répartition de l’actif moyen, en dollars pondérés par groupe
La ligne horizontale épaisse indique la médiane, le carré gris, la valeur du 25e au
75e percentile, et la ligne verticale, la valeur du 10e au 90e percentile.
16,0 %
10,3%
9,9%
14,0 %
9,9%
11,2%
6,5 %
6,0 %
4,0 %
>500 M$
8,0 %
> 150 M$ à 500 M$
< 30 M$
10,0 %
> 30 M$ à 150 M$
12,0 %
18 %
16 %
14 %
12 %
10 %
8%
6%
4%
2%
0%
Haut
Médiane
Bas
Figure 8 : Rendements annuels (selon la
taille de la caisse de retraite)
fin 2014
fin 2013
fin 2012
fin 2011
fin 2010
fin 2009
fin 2008
fin 2007
fin 2006
fin 2005
fin 2004
fin 2003
fin 2002
fin 2001
fin 2000
2,0 %
0,0 %
2014
6,8 %
2013
3,5 %
35,5
4,0 %
2012
1,5 %
31,4
52,9 %
2011
35,6 %
34,4
27,7 %
2010
21,8 %
31,3
1,3 %
2009
8,4 %
28,1
6,3 %
2008
18,8 %
34,3
38,9 %
2007
< 10M $
52,6 %
34,4
>10 M$ à 30 M$
61,9 %
2006
>$30 M$ à 100 M$
57,9 %
25,4
>100 M$
2005
Action
Non
traditionnels
Revenu
fixe
Comptant
2004
0,0 %
30,1
Total - Actifs des caisses de retraite
(milliards de $)
10,0 %
Figure 6 : Rendements des fonds de dotation sur 10 ans, par année, au 31 décembre
64
TABL
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OF CONTENTS
CO
CON
C
ON
O
NT
TENT
TEN
TE
EN
ENT
E
NT
N
TS
La ligne horizontale épaisse indique la médiane, le carré gris, la valeur du 25e au
75e percentile, et la ligne verticale, la valeur du 10e au 90e percentile.
16,0 %
14,0 %
12,0 %
10,0 %
8,0 %
6,0 %
4,0 %
fin 2014
fin 2013
fin 2012
fin 2011
fin 2010
fin 2009
fin 2008
fin 2007
fin 2006
fin 2005
fin 2004
fin 2003
fin 2002
fin 2001
0,0 %
fin 2000
2,0 %
Figure 9 : Rendements des caisses de retraite sur 10 ans, par année, au 31 décembre
Décembre 2014 - par trimestre et par taille du fonds
70,0 %
n=7
n=10
n=16
n=24
< 30 M$
>30 M$ à 150 M$
>150 M$ à 500 M$
> 500 M$
62,5 %
60,2 %
57,1%
51,2 %
1,0 %
3,0 %
6,2 %
15,0 %
32,5 %
27,2 %
33,2 %
31,8 %
4,0 %
9,6 %
3,5 %
2,0 %
60,0 %
50,0 %
40,0 %
30,0 %
20,0 %
10,0 %
0,0 %
Actions
Non
traditionnels
Revenu
fixe
Comptant
Bien que les rendements annuels soient
intéressants, il est important d’examiner
les rendements à long terme pour évaluer
ODVDQWpÀQDQFLqUHHWODYLDELOLWpGHVFDLVVHV
de retraite. La Figure 9 montre l’évolution
des rendements moyens (moyenne mobile)
sur 10 ans. Le rendement médian sur
10 ans a été plutôt stable au cours des
trois dernières années – il était de 6,9 % en
2014 – après une décroissance constante
pendant plusieurs années (Figure 9).
Les comités dont la caisse de retraite fera
bientôt l’objet d’une évaluation devraient
déjà être en train d’examiner la solidité des
hypothèses avec leur actuaire et, au besoin,
de prévoir des ajustements en fonction de
l’impact possible de faibles rendements
obligataires sur les taux de cotisation.
Composition de l’actif
La Figure 10 présente la répartition des
actifs selon la taille de la caisse de retraite.
La part qu’occupent les placements
à revenu fixe est assez semblable dans
chaque sous-groupe. À l’image des
années précédentes, les caisses diffèrent
au chapitre des actifs non traditionnels
par opposition aux actions. Le groupe
des grandes caisses de retraite détient
la plus grande proportion d’actifs non
traditionnels et la plus faible proportion
d’actions. On constate exactement le
contraire du côté des petites caisses,
qui investissent peu dans les actifs non
traditionnels. Par actifs non traditionnels,
on désigne encore ici les placements autres
TXHOHVWLWUHVjUHYHQXÀ[HRXOHVWLWUHVFRWpV
en bourse.
Figure 10 : Répartition de l’actif moyen, par taille de la caisse de retraite
<<Les
comités dont la caisse de retraite fera bientôt l’objet d’une
évaluation devraient déjà être en train d’examiner la solidité
des hypothèses avec leur actuaire et, au besoin, de prévoir
des ajustements en fonction de l’impact possible de faibles
rendements obligataires sur les taux de cotisation.>>
Clllic
Cli
Clic
C
Click
liic
ick HERE
HE
H
ERE
R E to
to return
re
65
Conclusion
Les rendements indiciels des actifs
traditionnels et la variation des
rendements entre différentes catégories
d’actifs sont présentés à la Figure 11. On
remarquera que le rendement annuel le
plus élevé est celui du S&P 500 (CAN),
à 23,9 %, et que le plus bas est celui
des obligations d’épargne canadiennes
à court terme, à 3,1 %. Sur dix ans, les
actions canadiennes ont rapporté 7,6 %,
les actions américaines, 7,3 % en dollars
canadiens, et les obligations canadiennes,
5,3 %. Ces rendements, alliés aux pressions
LQÁDWLRQQLVWHVJpQpUDOHPHQWSOXVpOHYpHV
dans les universités, ne permettent pas de
conserver la valeur nominale des fonds de
dotation. En effet, l’état des marchés, entre
autres facteurs, incite les gestionnaires
de fonds de dotation à abandonner les
actifs classiques en faveur d’actifs non
traditionnels et à rajuster davantage leurs
habitudes de dépenses. Dans le sondage,
les catégories d’actifs non traditionnels
sont classées sous « Autres » et représentent
19 % du fonds de dotation moyen (en
dollars pondérés). Par comparaison, dans
le sondage de 2001, les actifs du fonds de
dotation moyen comprenaient strictement
GHVDFWLRQVHWGHVSODFHPHQWVjUHYHQXÀ[H
Catégorie d’actif
Indice
Actions canadiennes
Les gestionnaires de fonds de
dotation et de caisses de retraite doivent
constamment affronter les vagues de
changement en surveillant de près si
ces fonds et ces caisses atteignent leurs
objectifs et en faisant les changements
nécessaires pour améliorer les résultats
prévus. Les comités des placements
doivent comprendre ce qu’ils peuvent
gérer – les dépenses dans le cas des fonds
de dotation et les risques dans le cas des
caisses de retraite – et ce qu’ils ne peuvent
pas, et réagir de manière à produire des
résultats qui permettront aux universités
de croître et d’exceller.
1 an
4 ans
10 ans
S&P/TSX composé (plafonné)
10,6 %
5,2 %
7,6 %
Actions américaines
S&P 500 (CAN)
23,9 %
20,1 %
7,3 %
Actions du marché international
MSCI mondial (CAN)
14,4 %
14,1 %
5,7 %
Actions EAEO
MSCI EAFE (CAN)
3,7 %
8,8 %
4,1 %
Actions de marchés en émergence
MSCI marchés émergents (CAN)
6,6 %
1,7 %
8,1 %
Obligations canadiennes
Universe Bond DEX
8,8 %
5,1 %
5,3 %
Obligations canadiennes à long terme
Obligations à long terme DEX
17,5 %
8,2 %
7,4 %
Obligations canadiennes à rendement réel
Obligations à rendement réel DEX
13,2 %
4,6 %
5,7 %
Obligations canadiennes à court terme
Bons du Trésor à 91 jours DEX
3,1 %
2,9 %
3,8 %
1,5 %
1,5 %
1,7 %
L’inflation est calculée selon l’indice des prix à la consommation pour le Canada :
Figure 11 : Rendement des indices au 31 décembre 2014 (Source : Étude de fonds communs RBC Dexia)
CAUBO Data at Work
Les données de l'ACPAU en action
CAUBO’s Financial Information of Universities and Colleges is used all over the
place – by bloggers, researchers, educators and administrators across Canada!
Tout le monde s’en sert, partout au Canada : blogueurs, chercheurs, ceux qui enseignent comme ceux qui
gèrent. Quoi donc? Information financière des universités et collèges, une autre publication de l’ACPAU!
66
TABL
LE OF
OF CONTENTS
CO
CON
C
ON
O
NT
TENT
TEN
TE
EN
ENT
E
NT
N
TS
Fonds de dotation des universités canadiennes
Établissements
Toronto
British Columbia
McGill
Alberta
Queen’s
Calgary
Manitoba
McMaster
Western Ontario
Dalhousie
Victoria (UT)
York
Simon Fraser
Victoria (BC)
Guelph
Saskatchewan
Waterloo
Montréal
Ottawa
Carleton
Laval
New Brunswick
Mount Allison
Ryerson
Windsor
Wilfrid Laurier
Concordia
Trinity (UT)
Lakehead
Memorial
Moncton
Brock
Acadia
Northern BC
MacEwan
Brandon
HEC Montréal
Winnipeg
Lethbridge
Trent
Mount Royal
Laurentian
King’s (NS)
Regina
Bishop’s
Sherbrooke
PEI
Saint Mary’s
Cape Breton
Mount St. Vincent
Saint-Paul
UQAM
Huron
Vancouver Island
Trinity Western
Sudbury
OCAD
Saint-Boniface
Fraser Valley
ETS
Thorneloe
Emily Carr
Redeemer
Algoma
Huntington
Athabasca
Sainte Anne
UQTR
SIAST
St. Francis Xavier
2014
Rang
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
Pondération:
Moyenne
Médiane
Moyenne pondérée en $
Actif total en
Actions
millions de $ Canadiennes Étrangères
2 060
13 %
30 %
1 401
26 %
35 %
1 356
10 %
38 %
1 057
19 %
53 %
852
20 %
43 %
715
36 %
39 %
605
29 %
38 %
551
21 %
43 %
546
21 %
33 %
511
17 %
46 %
476
6%
20 %
434
15 %
55 %
378
34 %
34 %
377
28 %
34 %
325
19 %
49 %
317
18 %
39 %
317
24 %
18 %
280
22 %
34 %
246
7%
45 %
197
35 %
35 %
166
20 %
36 %
163
27 %
33 %
157
20 %
54 %
113
29 %
33 %
99
31 %
33 %
91
17 %
17 %
88
34 %
28 %
85
14 %
33 %
82
74 %
21 %
80
34 %
20 %
78
24 %
29 %
77
14 %
45 %
74
39 %
32 %
71
25 %
37 %
60
21 %
57 %
59
36 %
28 %
59
18 %
45 %
54
27 %
47 %
54
40 %
38 %
51
19 %
41 %
49
25 %
25 %
45
31 %
21 %
41
39 %
30 %
40
25 %
43 %
39
29 %
37 %
37
16 %
34 %
36
28 %
29 %
34
49 %
28 %
31
20 %
39 %
26
20 %
40 %
20
5%
3%
20
29 %
17 %
19
28 %
35 %
18
20 %
39 %
17
36 %
32 %
16
29 %
33 %
15
32 %
34 %
15
24 %
26 %
10
22 %
24 %
9
0%
0%
7
35 %
18 %
5
0%
0%
5
42 %
24 %
5
41 %
29 %
3
29 %
33 %
3
32 %
27 %
2
18 %
2%
0
0%
0%
Actions canadiennes
25 %
25 %
21 %
Clllic
Cli
Clic
C
Click
liic
ick HERE
HE
H
ERE
R E to
to return
re
Actions étrangères
32 %
33 %
37 %
Annexe I
Revenus
fixes
22 %
19 %
21 %
16 %
18 %
24 %
21 %
31 %
24 %
22 %
6%
30 %
26 %
28 %
29 %
27 %
58 %
36 %
23 %
26 %
30 %
39 %
27 %
38 %
36 %
45 %
25 %
21 %
5%
46 %
39 %
41 %
29 %
29 %
22 %
36 %
20 %
26 %
22 %
40 %
40 %
49 %
32 %
22 %
35 %
34 %
44 %
23 %
41 %
40 %
25 %
54 %
38 %
41 %
31 %
38 %
35 %
50 %
53 %
100 %
47 %
100 %
35 %
30 %
38 %
41 %
48 %
100 %
Revenus fixes
35 %
32 %
24 %
Autres
35 %
20 %
31 %
12 %
20 %
0%
12 %
4%
23 %
15 %
68 %
0%
6%
10 %
3%
16 %
0%
9%
26 %
5%
13 %
0%
0%
0%
0%
21 %
14 %
32 %
0%
0%
8%
0%
0%
10 %
0%
0%
16 %
0%
0%
0%
10 %
0%
0%
10 %
0%
16 %
0%
0%
0%
0%
68 %
0%
0%
0%
1%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
31 %
0%
2013
Rang
1
2
3
4
5
6
7
8
9
10
11
12
14
13
15
17
16
18
19
20
21
22
23
24
28
26
27
29
30
32
31
34
33
35
36
38
37
40
39
41
42
43
44
45
47
46
48
49
50
51
52
53
54
55
57
56
Actif total en
millions de $
1 839
1 271
1 217
979
774
638
546
521
482
482
457
405
336
348
295
277
288
245
225
190
155
142
138
108
82
84
83
77
75
74
74
69
69
64
56
52
54
48
50
48
46
41
38
35
33
33
31
30
28
24
20
18
17
15
14
15
58
59
60
62
61
63
13
9
9
7
7
4
64
3
66
2
65
25
2
108
Autres
8%
0%
17 %
67
Caisses de retraite des universités canadiennes
Établissements
Toronto
Montréal
Québec
Laval
York
British Columbia (corps prof.)
Ottawa
Queen’s
McMaster
Western Ontario
Waterloo
Memorial
Guelph
British Columbia (personnel)
McGill (accumulation)
Saskatchewan
Manitoba
Dalhousie
Carleton
Ryerson
Victoria BC
(comb./cot. déterminées)
Sherbrooke
Concordia
Windsor
Wilfrid Laurier
École Polytechnique
Brock
HEC Montréal
Laurentian
Regina DB
Simon Fraser (corps prof.)
Simon Fraser
(admin. et syndicat)
Trent
New Brunswick
Moncton
Victoria BC (personnel)
Lakehead
PEI
McGill (retraités)
Brandon
Saint Mary’s
Winnipeg
Acadia
Bishop’s
Regina DC
St. Francis Xavier
Northern BC
Mount Allison (corps prof.)
Victoria (UT)
Mount Allison (personnel)
Sainte-Anne
Saint-Boniface
Trinity (UT)
King’s (NS)
Algoma
Saint-Paul
Pondération:
2014
Rang
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Actif total en
millions de $
3 783
3 374
3 367
2 702
1 995
1 922
1 873
1 748
1 595
1 354
1 317
1 280
1 274
1 272
1 203
1 163
1 093
1 064
1 030
1 026
21
1 006
22 %
22
23
24
25
26
27
28
29
30
847
846
634
459
421
417
357
351
345
31
Annexe II
Revenus
fixes
23 %
37 %
32 %
44 %
36 %
34 %
20 %
28 %
32 %
40 %
57 %
25 %
33 %
45 %
31 %
40 %
35 %
34 %
27 %
30 %
Autres
32 %
17 %
23 %
19 %
5%
9%
25 %
15 %
0%
0%
8%
14 %
4%
20 %
17 %
0%
6%
16 %
4%
41 %
2013
Rang
1
2
3
4
5
6
7
8
9
10
11
Actif total en
millions de $
3 246
3 050
3 049
2 430
1 767
1 744
1 728
1 647
1 436
1 275
1 198
12
14
13
15
16
17
18
19
1161
1 091
1 137
1 070
1 033
962
957
933
36 %
31 %
11 %
20
900
31 %
3%
31 %
23 %
26 %
15 %
18 %
26 %
19 %
35 %
32 %
31 %
29 %
29 %
48 %
46 %
31 %
45 %
34 %
44 %
39 %
37 %
42 %
38 %
21 %
36 %
29 %
0%
21 %
0%
12 %
4%
0%
16 %
7%
8%
21
22
23
24
25
26
27
29
28
778
777
577
404
373
361
333
319
324
322
26 %
38 %
37 %
0%
30
297
32
294
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
285
276
264
229
221
213
198
156
144
125
123
116
113
96
72
52
51
34
29
28
26
26
23
23
28 %
32 %
35 %
6%
31
263
29 %
20 %
29 %
14 %
33 %
28 %
0%
34 %
23 %
17 %
31 %
33 %
19 %
35 %
44 %
30 %
27 %
19 %
30 %
23 %
33 %
38 %
41 %
35 %
30 %
34 %
29 %
32 %
35 %
28 %
30 %
26 %
35 %
37 %
31 %
30 %
43 %
24 %
20 %
35 %
36 %
40 %
29 %
37 %
29 %
29 %
29 %
31 %
41 %
46 %
38 %
39 %
32 %
28 %
59 %
40 %
42 %
36 %
38 %
28 %
35 %
40 %
35 %
35 %
37 %
42 %
38 %
38 %
38 %
34 %
30 %
34 %
0%
0%
4%
16 %
0%
15 %
11 %
0%
0%
10 %
0%
10 %
2%
1%
1%
0%
0%
0%
4%
3%
0%
0%
0%
0%
32
33
34
37
35
38
36
39
40
41
42
43
44
45
46
47
48
49
51
50
53
52
55
54
260
254
252
208
221
196
209
144
135
126
115
108
95
87
63
50
45
30
27
28
23
24
21
22
Actions
Canadiennes Étrangères
13 %
32 %
13 %
33 %
16 %
30 %
11 %
27 %
14 %
45 %
29 %
28 %
10 %
46 %
22 %
35 %
20 %
48 %
21 %
40 %
4%
31 %
28 %
33 %
23 %
40 %
15 %
21 %
16 %
37 %
26 %
34 %
37 %
23 %
15 %
35 %
31 %
38 %
1%
28 %
Actions canadiennes
Actions étrangères
Revenus fixes
Autres
Moyenne
23 %
33 %
36 %
8%
Médiane
23 %
32 %
36 %
4%
Moyenne pondérée en $
18 %
34 %
34 %
14 %
68
TABL
LE OF
OF CONTENTS
CO
CON
C
ON
O
NT
TENT
TEN
TE
EN
ENT
E
NT
N
TS
Professional
Development
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Professionnel
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November 16 and 17, 2015
Workshop
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January 11 – February 25, 2016
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June 12 – 14, 2016
Annual Conference
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CURIE
D.L.G.L. Ltd.
D.P. Murphy Hotels and Resorts
Eckler Ltd.
Enterprise Holdings Canada
Foyston, Gordon & Payne Inc.
Greystone Managed Investments Inc.
Guardian Ethical Management
Invesco Trimark Ltd.
Kyocera Document Solutions
Letko Brosseau Global Investment Management
MFS Investment Management
MNP LLP
Moneris
Morneau Shepell
National Bank
Pavilion Advisory Group
Phillips, Hager & North
Investment Management Ltd.
PricewaterhouseCoopers LLP
Romspen Mortgage Investment Fund
RP Investment Advisors
Russell Investments
Shure Canada
Sun Life Investment Management
TD Asset Management
The Retired Teachers
Association of Ontario RTO
TORON AMI International Asset Management
University of Guelph
College of Business + Economics
www.commissionaires.ca
www.curie.org
www.dlgl.com
www.dpmurphyhotelsandresorts.com
www.eckler.ca/vision
www.caubo.ca/supplier_contracts/car_rentals
www.foyston.com
www.greystone.ca
www.gemportfolios.com
www.institutional.invesco.ca
www.kyoceradocumentsolutions.ca
www.lba.ca
www.mfs.com/getactive
www.mnp.ca
www.moneris.com
www.morneaushepell.com
www.nbc.ca
www.pavilioncorp.com/advisory-services
800-561-4650
514-393-4899 (Brian Cyr)
416-775-5876 (Michael Parsons)
416-956-5229 (Angela Vidakovich)
888-992-5736
647-328-0709
416-643-6365 (Shane Kuros) or
416-643-5373 (Tim Rourke)
888-688-0715
905-336-3366
450-979-4646 (Richard Rousseau)
902-564-6555
416-696-3000
613-274-6931 (Melanie Smith)
416-848-1919
416-309-2182 (Michael Gillis)
800-253-9181
416-324-7442
30
47
8
44
31
52
51
4
28
866-954-5101
26
20
11
14
16
70
15
71
49
60, 61
7
56
54
72
23
42
2
48
www.phn.com
855-408-6111
36
www.pwc.com/ca/education
www.romspen.com
www.rpia.ca
www.russell.com/ca/institutional
www.shurecanada.com
www.sunlifeinvestmentmanagement.com
www.tdaminstitutional.com
416-863-1133
416-966-1100
647-776-1777
866-737-2228
800-363-8855
855-807-7546
888-834-6339
26
3
44
45
21
58
34
28
800-307-8557
416-862-9800
877-500-0792 (Maggie Kiel)
816-319-7450
416-380-2765
www.rto-ero.org/join-us
800-361-9888
www.toron-ami.com
800-463-7475
35
www.leadership.uoguelph.ca
888-622-2474
37
Two Great Brands.
One Global Business Rental Solution.
As your preferred provider, we offer CAUBO institutional and affiliate members
two great car rental options with the service, value and convenience from brands
they’ve come to know and trust.
National Car Rental has long been favored by frequent renters at airports for
speed and vehicle choice. Enterprise Rent-A-Car is the first choice for travelers
who need to rent near their home or office.
For more information, visit www. caubo.ca/supplier_contracts/car_rentals
Or contact:
Melanie Smith
[email protected]
(613) 274-6931
Deux grandes marques.
Une solution d’affaires à l’échelle mondiale.
À titre de fournisseurs préférentiels de l’ACPAU nous offrons à ses membres
institutionnels et affilés deux grands choix en matière de location de voitures,
assortis de service, de valeur et de commodité qu’ils connaissent et auxquels ils
font confiance.
Two Great Brands.
One Global Business Rental Solution.
Les voyageurs aériens assidus préfèrent la rapidité de service et les choix de
véhicules que leur offre Location d’autos National tandis que les voyageurs qui
louent à proximité de leur résidence ou de leur bureau font de Location d’autos
Enterprise leur premier choix.
Afin d’obtenir plus d’information, consulter
www. caubo.ca/supplier_contracts/car_rentals
National, National Car Rental, Emerald Club and the flag are trademarks of Vanguard Trademark Holdings, USA LLC.
Enterprise and the “e” logo are trademarks of Enterprise Holdings, Inc. © 2014 Enterprise Holdings, Inc. F00492 9.14 JH
70
Ou veuillez communiquer avec:
Melanie Smith
[email protected]
(613) 274-6931
The Power of Disciplined Investing®
Fixed Income
Equities
Real Assets
Multi-Asset
Core
Income & Growth
Real Estate
Target Date Funds
Bond Plus
Canadian, U.S., Global,
International, China
Mortgages
Balanced
Infrastructure
Alternative Balanced
LDI
Canadian Small Cap
To learn more about how we can work with you to meet your investment needs, please contact:
Michael Gillis, Senior Vice-President, Business Development
416.309.2182
[email protected]
Greystone.ca
This article is for informational purposes only, is not meant as specific investment advice and is not a recommendation to buy or sell any particular
security. Commentary and investment capabilities reflected represent the opinions of Greystone Managed Investments Inc. at the date of this
article and was developed from sources that Greystone believes to be reliable. Copyright © Greystone Managed Investments Inc. All rights reserved.
Take the Lead.
Effective Business Resilience is more than a thorough response to unexpected
events. It’s taking the lead, preparing more effectively than the competition, and
responding before your competitors. Creating a culture of increased resilience by
integrating best practices and stress testing internal controls ensures your internal
audit function can assist in shielding your organization from threats, protect the
continuity of your operation, and keep you one step ahead.
Will you lead or follow after a disaster?
Contact Cliff Trollope, National Business Resilience Lead at 416.515.3851
or [email protected]

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