Senior Commercial Credit Specialist

Description

The Senior Commercial Credit Specialist is accountable for managing Commercial borrowing relationships presenting high credit risk, with the objective of restoring loans to performing status where feasible and minimizing bad debt expense in the event of a business failure. Work-out tactics involve the engagement of 3rd party legal and accounting professionals to implement insolvency strategy and execution in a timely manner.

• Manage relationships and partner with Members and insolvency professionals. Provide excellent service and be always professional in challenging scenarios.
• Develop and implement strategies to return high risk loans to performing, wherever possible, and minimize credit losses in situations where there has been a business failure.
• Manage Business Banking lending portfolios within Watch List and Loan Loss Provision benchmarks.
• Understand and keep track of market and regulatory changes and developments and incorporate into Member credit recovery strategy.
• Take action to protect Meridian against legal action and report / partner with Corporate legal on ongoing litigation matters.
• Assist with respect to overall regulatory compliance by having responsibility for completion of monthly reporting as required under Board Credit Management policy.
• Maintain Watch List summary reporting, inclusive of action plans and key dates, in an effort to reduce exposure and provide regular disclosure.
• Provide effective stewardship to the Commercial Credit lending portfolio, contributing to regular monthly reviews of portfolio credit quality through established measures. Proactive risk management and accuracy of Credit Agreement / Forbearance Agreement preparation.
• Enhance the profile of the Commercial Credit team through the organization through open communication, highlighting the role of Commercial Credit in contributing to the credit risk management function, in support of a differentiated brand and contributing to Meridian’s overall sustainable profitability.
• Create efficiency in the credit approval process through streamlined applications, refined processes and by leveraging enhanced automation in monitoring borrower default risk.
• Foster a culture of shared, proactive risk management with Delivery partners.
• Work in Partnership with Finance to review and agree Loan Loss Provision Reporting on a monthly basis.
• Work in Partnership with external auditors to verify and validate Loan Loss Provision for Impaired Members to support PWC’s efforts in approving Meridian’s Audited Financial Statements.
• Build strong relationships and partner with specialist legal, accountants and Trustees (Receivership Accountancy firms) to implement insolvency strategy, tactics and execution in a timely manner.
• Achieve at minimum “Satisfactory” audit results on external and internal audit reviews and act on audit recommendations for enhancements.

Knowledge, Skills, Abilities

• Relationship Management experience with Members. It is a prerequisite to have experience as a Commercial or Corporate Banking Relationship Manager.
• The ability to distill important information and communicate concisely both verbally and in writing. Communication needs to be tailored to the audience, which will include Meridian Executive and Board Members as well as Financial Regulators.
• Understanding of all types of real estate lending (land, construction, all income producing asset types).
• Understanding of cashflow lending (leveraged finance, GSA lending).
• Commercial and Corporate finance experience is beneficial.
• Experience of syndicated lending financing with Schedule 1 Banks and Credit Union participations.
• Insolvency / workout experience and ability to build on existing and develop new relationships with insolvency professionals.
• The key technical skills required are analytics, diligence, objectivity, insight, accuracy, flexibility and creativity. A culture of shared, proactive risk management with Sales and Relationship partners is to be fostered.
• Strong understanding of commercial business structures and excellent analytical skills in the areas of financial statements, cash flow mechanics, and business plans.
• Sound understanding of commercial lending security documentation, including work-out techniques and remedies.
• Strong negotiation skills, coupled with a demonstrated ability to initiate action to achieve results and meet deadlines while respecting fundamental corporate values.
• Drive and determination is key. Time management skills and ability to move credit requests forward under pressure is important.
• Excellent verbal and written communication skills.
• Educating and developing Senior Credit Analysts and other colleagues to support succession planning and individual development plans / improve Meridian’s bench strength for the future.
• Strong computer competency (Word/Excel/Outlook).

This role represents an existing vacancy. Internal candidates are being considered as part of our standard process.

Salary Range: CAD $95,000 to $140,000 annually.

Compensation for this role is based on a combination of skills, experience, and internal equity. Candidates with stronger alignment to the role’s requirements may be placed higher within the range. Your recruiter will share more information about our total rewards package during the hiring process.

Office Location: Toronto Corporate Office located at 3280 Bloor St W, Etobicoke, ON or St. Catharines Corporate Office, located at 75 Corporate Park Drive, St. Catharines, ON.

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
• 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!

Build the Future of Banking with Us

At Meridian, we’re not just adapting to the future—we’re shaping it. We see talent as a catalyst for sustainable growth, community impact, and future-readiness. As the financial landscape evolves, we’re looking for team members who bring:

• Embedding & leveraging technology – Confidence and willingness to learn and integrate AI and emerging technologies into new ways of working. Experience with low/no code tools like the Microsoft Power Platform and generative AI productivity tools like Microsoft Copilot is considered an asset
• Critical Thinking – The ability to analyze, evaluate and interpret information from various sources and apply logic and problem solving to make decisions.
• Data Driven– Leverage data and insights to identify, prioritize and improve member experience and business efficiency.
• Curiosity & Flexibility – Comfortable navigating and embracing change and uncertainty, ask more questions, explore more options. Continuously learn and grow.

Who we are:

Meridian is Ontario’s largest credit union, and second largest in Canada, helping to grow the lives of our more than 380,000 Members. Meridian has more than 80 years of banking history and is 100% owned by its members. With 87 retail branches and 15 Business Banking Centers across Ontario and $ 32B in assets under management, Meridian offers a full range of financial products and services to its retail, business banking and wealth members. With over 2200 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: