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.

About this role:

Retail Credit is part of Meridian’s Risk Management function. The department is accountable for managing the overall credit risk of the Retail portfolio, providing prompt service on adjudication through recovery to all channel owners, and supporting key internal and external stakeholders on activities directly related to the consumer credit environment.

As a Credit Compliance and Policy Manager in the Portfolio Management function, you will partner with Retail Credit Leaders to support Meridian’s and motusbank’s Retail Lending Functions. To do this you will:

• Ensure all policies and programs align with Meridian and motusbank’s risk appetite and regulatory obligations,
• Identify opportunities for policy enhancements, analyze regulatory changes and provide analysis to leadership on the potential impact of these changes,
• Work with key vendors that impact the whole of the organization to ensure continued performance,
• Develop thorough and up to date market risk assessments that may impact credit granting,
• Look for different ways to ensure the retail credit function’s continued performance, and
• Provide key partners with value-add services and support.
• Support underwriting review and audits as required.
• Support Commercial Credit, as required, with Regulatory Compliance activities.

Key Responsibilities:

• Ensuring all lending policies, procedures, processes, and systems comply with regulatory requirements, while remaining competitive within the industry and supporting Meridian’s growth plans. This includes evaluating new regulations or existing regulatory changes, reviewing policies and procedures to ensure continued appropriateness and implementing changes as required.
• Supporting Retail Credit vendor management activities. This includes the maintenance of the vendor management system, working with vendors to ensure continued performance, resolving performance issues, as required, onboarding/offboarding vendors as required, managing vendor roadmaps and implications, etc.
• Managing policy changes, from ingestion to implementation. Includes liaising with Retail Credit Leaders to discuss policy pain points, researching, drafting and requesting policy changes, communicating changes to relevant parties, and implementing changes across the organizations.
• Identifying, monitoring, and reporting on market risks (e.g., interest risk, geographic risks, delinquency risk) and their impact on Meridian’s and motusbank’s existing portfolio, credit granting strategies, credit compliance and credit onboarding.
• Own Meridian and motusbank credit agreements. This includes managing their ongoing compliance with governing regulations, reviewing relevant regulatory/internal changes, funding partner implications, and assessing their impact on the credit agreements and leading the process, from end to end (e.g. legal changes, operational changes) to amend credit agreements, as required.
• Provide support to other members of the portfolio management retail credit team. Includes:
  • Having a deep understanding credit adjudication and adjudicating credit as required,
  • Assisting on audits on credit files conducted by the team, and
• Supporting the Senior Manager in their role in supporting response to external, federal and provincial regulatory agencies. Includes preparation and assistance in meeting audit requirements, responding to audit requests and implementing outcomes, as necessary. Working closely with Compliance and other risk management functions to ensure adherence to enterprise requirements.
• Supporting the performance of Meridian’s and motusbank’s retail lending activities by ensuring up to date reporting and documenting performance anomalies as required.
• Assist in new and ongoing projects that impact Meridian’s and motusbank’s retail credit lending activities.
• Other ad-hoc duties as required.

Knowledge, Skills, and Abilities:

• University Degree in Business or MBA preferred.
• 3+ years of experience in credit.
• In depth knowledge and understanding of the Canadian lending space and regulatory bodies (OSFI and FSRA).
• Ability to present logical well drafted recommendations for presentation to all levels, leveraging data and analytics, both in written form and public speaking.
• Strong organizational skills with the ability to multi-task and prioritize work in a fast-paced environment.
• Strong analytical and problem solving skills.
• Strong PC skills particularly MS Office Suite (Excel, Word, PowerPoint) and experience with Loan Origination Systems.
• Experience working on cross functional teams or projects.
• Demonstrate innovative and creative approaches to solving difficult challenges and seizing opportunities.
• Ability to exercise sound judgment and negotiate as required.
• Must be adaptable, detail oriented and organized.

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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