Going concern

Karen Kinsley, FCA
President & CEO,
Canada Mortgage and Housing Corp.

Company profile: As Canada’s national housing agency, CMHC helps sustain a healthy housing market by providing mortgage loan insurance to enable mortgages at the lowest possible rate and facilitating homeowners in renovating or refinancing their properties. Established in 1946 and based in Ottawa, the Crown corporation employs 2,000 and posted assets of $203.5 billion in 2009, with revenue of approximately $12 billion.

Hot factor: Under Karen Kinsley’s leadership, CMHC has received many awards for corporate citizenship and management practices. Most recently Kinsley received the Ottawa Business Journal’s CEO of the Year for 2009. She was also recognized by the Women’s Executive Network in 2008 as one of Canada’s Most Powerful Women: Top 100 Award.

Cool projects: Partnering with Natural Resources Canada, CMHC launched a $2-million EQuilibrium Housing Initiative providing resources to private developers to construct homes that generate as much energy as they consume. The 15 demonstration homes, to be located across the country, will be completed by 2012 and some are already open to the public for viewings. In 2008 CMHC also initiated a $300-million housing fund to assist First Nation families to buy, build or renovate homes on reserve lands. This is anticipated to open up housing possibilities in other aboriginal communities in the country.

In her own words: “Knowing the business, clarity in what must be done, integrity and determination are all values ingrained in me through my CA training. As a leader I try to instill in the people around me a clear sense of direction, and to demonstrate an unwavering commitment to seeing things through. From time to time I also need to believe that impossible things are possible.”

Rosalind Stefanac