The Wood Buffalo Economic Development Corporation is an entity committed to driving sustainable economic and tourism growth, innovation and business development in Fort McMurray Wood Buffalo. As a strategic body, the board plays a key role in fostering partnerships, enhancing the economic landscape and ensuring the long-term prosperity of the region.

Board Responsibilities

Board members have a broad mandate to oversee the strategic direction and operations of the organization. Key responsibilities include:

1. Strategic Oversight
• Assess, review and approve the organization’s strategic plans.
• Ensure alignment of corporate objectives with the overall economic and tourism growth goals of the Region.

2. Financial Governance
• Approve operating and capital budgets and oversee financial performance.
• Safeguard the assets of the organization and ensure fiscal responsibility.
• Regularly review financial reports and provide oversight on financial management.
• Implementation and establishment of internal financial controls.

3. Policy and Leadership
• Provide guidance on organizational policies that promote sustainable economic and tourism development and innovation.
• Support the CEO and executive team in decision-making processes, ensuring alignment with the board’s strategic vision and objectives.
• Foster a culture of collaboration and accountability within the organization, encouraging ethical leadership and operational excellence.

4. Risk Management and Compliance
• Review the organization’s operations to ensure compliance with legal and regulatory requirements.
• Assess risks and ensure appropriate safeguards are in place for the organization’s assets.

5. Governance and Accountability
• Provide regular reports to the Regional Municipality of Wood Buffalo Council on strategies, goals, objectives and outcomes of initiatives.
• Ensure transparency and accountability through regular meetings and communication with the auditor.
• Delegate special powers to committees or officers when needed, ensuring efficient execution of key initiatives.

6. Economic Development and Tourism Advocacy
• Act as ambassadors for the economic and tourism development initiatives in the Wood Buffalo region.
• Engage with community stakeholders, businesses and government entities to promote regional economic and tourism interests.

Board Member Expectations
Board members are expected to contribute their expertise, leadership and insight to help shape the strategic vision of the organization. They must act in the best interests of the community, maintain confidentiality and avoid conflicts of interest. Members should also participate in board meetings, committees and other relevant engagements, while staying informed about regional economic development and tourism issues and trends.