Skip to main content

Our Board of Directors

Our governance structure is grounded in the law and policy applicable to all corporations as embodied in the Ontario Business Corporations Act and common law. That legislative and judiciary framework is supplemented by regulatory and contractual guidelines in the form of an Amended Consent Order issued by the Competition Tribunal in 2013, and the Unanimous Shareholder Agreement (the “USA”), executed by Interac and its 41 shareholders in 2018.

The Interac Corp. Board of Directors is a 13-member hybrid body comprised of 4 Independent Directors; 8 Nominee Directors; and the President & CEO. The Board’s primary functions are (i) decision-making, through the formulation of policies and the establishment of strategic goals; and (ii) oversight, through the review of management decisions, the review of systems and controls and the implementation of policies. Our Board members bring their industry insights, business experience and individual perspectives to bear while acting together in the best interests of our Shareholders and as a compass for our organization.

Board of Directors

David Clanachan
Independent Director

David F. Clanachan was just 14 years of age when began his three decade career with Tim Hortons. Initially joining the company at Restaurant level, his enthusiasm for the business, and commitment to a great Guest experience, didn’t go unnoticed. He quickly advanced to a management position, running several Restaurants while he attended the University of Windsor and earned a Bachelor of Commerce.

Read More
Sophie Forest
Independent Director

Sophie has been involved in the Canadian Venture Capital Industry more than 25 years. She worked for Caisse de Dépots et Placements for seven years, managing a large portfolio of VC investments internationally with assets of close to one billion dollars.

Read More
David Gillespie
Canadian Imperial Bank of Commerce

David joined CIBC’s Technology, Infrastructure and Innovations team in 2006 and is currently Executive Vice-President, Infrastructure, responsible for the operations functions supporting Capital Markets, Wealth Management, Commercial Banking and Corporate Banking.

Read More
Yann Jodoin
Fédération des caisses Desjardins du Québec

Having joined Desjardins in 2018 as the Head of Payment, Retail Lending, Everyday Banking & Fraud, Yann is responsible for developing and managing innovative everyday banking and payment solutions to address the evolving needs of Dejardins’ members and clients. He is also accountable for commercial, international and merchant payment solutions and everyday banking for the Dejardins group.

Read More
D’Arcy McDonald
The Bank of Nova Scotia

In 2018 D’Arcy joined Scotiabank to lead the retail deposit businesses, including Day to Day Banking, Savings, Investing, Payments, and Advisor Deposit Services. The mandate is to help customers become better off through convenient everyday banking, payment, and investment advice experiences.

Read More
William G. McEwan
Independent Director

An accomplished long-term CEO, Bill was President & Chief Executive Officer and Director of Sobeys Inc., a leading Canadian grocery retailer and food distributor, until he made the personal decision to step down in June, 2012. He also served on the Board of Directors of Sobeys Inc. and that of its parent company, Empire Company Limited (TSX:EMP.A).

Read More
Mathew Mehrotra
BMO Financial Group

Mathew Mehrotra, Chief Digital Officer and Head of Canadian Products at BMO Financial Group, is a seasoned finance executive with experience spanning corporate strategy, digital transformation, technology, and product management.

Read More
Sona Mehta
The Toronto-Dominion Bank

Sona Mehta is Senior Vice President, Money-In Solutions, overseeing deposit products, savings and investing products, and money movement in Retail.

Read More
Ramesh Siromani
Royal Bank of Canada

Ramesh Siromani is Executive Vice President, Cards, Payments & Transformation (CPT) within Personal and Commercial Banking (P&CB) at RBC. He is responsible for RBC’s industry-leading Cards business, and leads the development of strategy and execution of transformation agenda for P&CB. Ramesh also leads integrated payments governance across RBC, including the strategy development and modernization of RBC’s payments capabilities, coordinating cross-enterprise efforts to deliver customer value.

Read More
Lisa Swiderski
National Bank of Canada

As Senior Vice President, Distribution Strategy and Personal Banking Solutions, Lisa Swiderski is responsible for establishing and implementing business strategies for the Personal Banking sector for all distribution channels. Her responsibilities also include product and pricing management. She is currently a member of the Board of Directors of National Bank Financial, the Bank’s securities brokerage subsidiary. She has also been a member of the Boards of Directors of Natcan Trust Company and National Bank Correspondent Networks for several years.

Read More
Paul Vessey
Chair of the Interac Corp. Board of Directors | Independent Director

Paul retired from managing financial services businesses in 2012 after a 40-year career with stops at TD Bank, Continental Bank, American Express, Canadian Imperial Bank of Commerce and Visa Inc. Paul is proud of his reputation as an innovative business builder who loves working with people. Several business units he managed became and remain category leaders in their segments. While his experience spanned a wide range of leadership roles in personal and commercial financial product categories his true love and passion has always been payments. He is proud of having a direct role introducing and commercializing ATM’s, Credit Cards, Debit Cards, Co Branded Cards, Corporate Cards, Chip Cards, Gift Cards and several new online payment authentication services.

Read More
Sheila Vokey
President & CEO of Central 1

Sheila is a seasoned financial executive with more than 30 years of executive leadership experience with some of Canada’s most prominent financial institutions. Sheila’s career spans business, strategy, risk, and financial management and includes several strategic business transformations.

Read More
Jeremy Wilmot
President and CEO, Interac Corp.

Jeremy Wilmot is the President and CEO of Interac Corp. A seasoned leader in payments, real-time solutions and growth strategies, Jeremy joined Interac in August 2023. He leverages his more than 30 years of global experience to drive Interac growth and deliver shared value for its Canadian Financial Institution customers and for the millions of Canadians using its debit, money movement and verification services.

Read More

Board Committees

There are a total of seven Board sub-committees, each comprised of a minimum of three members, that are tasked with assisting the Board in fulfilling its responsibilities relating to: finance and audit matters; corporate governance matters; human resources and compensation matters; innovation matters; risk management matters; and matters relating to the RTR Services that Interac provides to Payments Canada.

Independent Committee

Comprised of Interac’s four Independent Directors and the Chief Executive Officer.

Mandate: To oversee the management of Interac’s Shared Services (Debit, Cash, and Interac Flash) while retaining the sole authorization to make decisions regarding the design and maintenance of the Real-Time Rail payment services.

HR & Compensation Committee

Mandate: to assist the Board of Directors in fulfilling its responsibilities relating to HR matters, including compensation and succession planning. 

Finance & Audit Committee

Mandate: to assist the Board of Directors in fulfilling its responsibilities relating to financial matters, including reporting and audit matters.

Governance Committee 

Mandate: to assist the Board of Directors in fulfilling its responsibilities relating to corporate governance matters, including the administration of the Board and business conduct and ethics.

Risk Committee

Mandate: to assist the Board of Directors in fulfilling its responsibilities relating to risk management matters, including overseeing Interac’s risk framework and risk appetite statements.

Innovation Committee

Mandate: to advise the Board of Directors in fulfilling its responsibilities relating new venture activities.

Advisory Committee

Comprised of ten individuals representing the diversity of Participants in Interac’s services (other than the eight major financial institution shareholders of Interac) plus the Chair of the Independent Committee, who acts as Chair of the Advisory Committee.

Mandate: to provide its views to the Board of Directors on matters of importance to persons that participate in the services offered by Interac.