About this opportunity

At Meridian our aspiration is to integrate our purpose into everything we do for people, the planet, and communities. We believe that our greatest opportunity is to create opportunity and meet people where they are.

Purpose of the Job:

Assist in the administration of the Business Loan portfolio within the framework of the approved credit management policies as set by the Board, to ensure the loan assets represent acceptable risk and return to the Credit Union.

Job Summary

You will be part of the Business Banking Credit team that has responsibility for credit decisions pertaining to a $7 billion Business loan portfolio across all sectors of the Canadian economy. Key sectors include Land & Construction, Hospitality, Income Producing Real Estate and general industries. This position will be responsible for supporting the Director Business Credit that manages a team of Business Credit adjudicators. You will provide credit adjudication, portfolio management and act as a key business partner to the Business Banking Delivery team. This is to be done within the framework of the approved credit management policies as set by the Board, to ensure the loan assets represent acceptable risk and return to the Credit Union. You will enjoy a fast-paced and exciting environment with a commitment to achieving results in a highly engaged team.

The successful candidate will be a self-starter with drive and determination. The person will help Members and colleagues achieve goals with a positive, can-do, attitude. Effective communication and the ability to build relationships with others is also key. A sound understanding of Financial Statements and experience in analyzing lending proposals is essential, as is a willingness to learn and be adaptable. This will provide an opportunity to develop and lead to other opportunities as Meridian continues to grow.

Key Responsibilities:

• Approve, amend or decline credit applications within delegated authority in a timely and efficient manner, ensuring risk is appropriate and service level is maintained. Support fulfillment of growth targets.
• Foster a culture of shared, proactive risk management with Business Banking and Business Credit Department. Seek out regular communication with the field to ensure open dialogue, gain feedback and provide guidance on opportunities for improvement with respect to credit applications and due diligence.
• Exercise sound and consistent loan underwriting practices.
• Provide consistent, timely and focused value added service to the Business Banking Units.
• Assist on overall management and control of loan delinquency including close monitoring of higher risk accounts.
• Assist with completion of regulatory compliance reporting as required under Board Credit Management policy.

• Apply sound credit adjudication based on knowledge and technical acumen, to reach resolution on differences in opinion, approach, policy interpretation with lenders and Credit Management staff.
• Address daily technical problems on security documentation questions, systems issues & loan coding and errors.
• Escalate more complex issues on unresolved matters to Director and/or Vice President Business Credit.
• Regular and consistent verbal and/or written communication with Business Credit Management staff and / or Business Banking lenders on a wide range of issues.
• Liaise with external parties (lawyers / accountants, etc.) on an “as-needed” basis.
• Keep abreast of changes within diverse industry sectors and proactively identify opportunities to improve the risk profile within Meridian’s Business Banking portfolio.

Knowledge, Skills and Experience:

• Minimum three years experience in Business Credit underwriting and risk management in a financial services environment, combined with relevant post-secondary education with an emphasis on business and finance (i.e. Bachelors or Masters in Business Administration, Finance, Accounting).
• Understanding of business sectors (including leveraged & private equity, out & in-bound syndications, mortgage / leasing / bulk finance entities) and corporate structures (i.e. Partnerships, LLP, REITS, Trusts) would be an asset.
• Prior experience in income property lending, land, development & construction, and hospitality sectors would be an asset.
• Familiarity with acceptable financing options and techniques (i.e. senior, mezzanine, subordinate debt, share and other equity offerings)
• Sound understanding and ability to deeply assess business financial statements, conduct cash flow analysis and work with financial models to prepare various down case scenarios / stress testing of Member forecasts.
• Sound understanding of commercial lending security documentation, including collection / work out techniques and remedies.
• Knowledge of commercial account operating procedures, cash management services and other banking products (i.e. credit cards, forex, automated funds transfers) is preferred.
• Proficient knowledge of standard office equipment including PC skills with emphasis using MS products including Word & Excel. Familiarity with an on-line loan origination portal would be of benefit.
• Able to prioritize and plan workload in order to meet deadlines in a dynamic, fast-paced environment. Self-motivated.
• Strong but collaborative negotiation skills to find an agreeable position with our Members’ foremost in mind.
• Develop and maintain strong working relationships with a demonstrated ability to work effectively with key business partners.

Competencies

Member Focus - Personally demonstrating that our Members are our highest priority.

Proactive - Seize the initiative by anticipating needs and identifying opportunities to provide a higher level of service.

Open Communication - Engaging in honest and transparent dialogue to develop mutual understanding, trust and cultivate deeper relationships.

Business Savvy - Continuously acquiring the knowledge needed to do one’s job to the fullest, using internal or external resources and applying the knowledge productively.

Partner Orientation - Initiates opportunities for collaboration and maintains productive relationships to achieve shared goals.

Integrity - Doing the right thing by always acting with openness, honesty, and respect.

Creates a Supportive and Positive Team Environment - contributes to a positive, diverse, and inclusive team environment which encourages innovation, and risk taking; speeds up team learning through sharing best practices; leverages the strengths and opportunities of the broader marketing team; embraces Meridian’s strategic corporate goals including ESG and related initiatives.

Office Location: 3330 Bloor Street West, Toronto OR 75 Corporate Park Drive, St. Catharines.

Meridian has a remote work policy that allows flexibility for employees to work remotely but also requires regular time in the office for purposeful meetings to collaborate, innovate and build effective relationships with your team, your colleagues and your leader which is very important to us.

What's in it for you?

• We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We provide you with the tools and technology needed to delight your candidates and clients!
• You'll get to work with and learn from diverse industry leaders, who have hailed from top organizations around the world
• Hybrid work arrangements with in-person office time to collaborate, innovate and build relationships with your colleagues
• This isn't your typical "corporate" job. We work hard and we have fun!

Who we are:

Meridian is Ontario’s largest credit union, and second largest in Canada, helping to grow the lives of our more than 360,000 Members. Meridian has more than 75 years of banking history and is 100% owned by its members. With 89 retail branches and 15 Business Banking Centers across Ontario and $ 30B in assets under management, Meridian offers a full range of financial products and services to its retail, business banking and wealth members. With over 2000 employees and corporate offices located in Toronto and St. Catharines, Meridian has a track record of creating and delivering innovative new offerings and is committed to investing in the communities that we serve. Our plan is to build on our momentum as we deliver on our purpose - helping our members achieve their best life.

Find our story here: About Meridian

Experience the Difference!

Meridian committed to promoting an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to employing a workforce that reflects the diversity of our communities and Members in which we live and serve.

Qualified applicants will receive consideration without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity, gender expression, or disability.

Please note that due to the volume of applications, only those under consideration will be contacted for an interview.

Thank you for your interest in Meridian Credit Union.

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