Senior Commercial Credit Specialist

Description

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.

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…