Senior Corporate & Structured Finance Specialist
St. Catharines, CA
4d ago

Who we are :

At Meridian, we’re committed to providing Canadians with exceptional banking, features, services, security, and advice so they can get everything they want from their money, and their lives.

We are Ontario’s largest credit union and the second largest in Canada, with over 350,000 Members. Credit unions are not-for-profit, and more focused on community.

At Meridian, our Members are owners - that means that any profit we make goes right back into improving our products and services and innovating new ways to enhance our Members' lives.

Meridian’s dedication to helping Canadians goes beyond banking. Thriving communities are essential to the individual well-being of our Members and the overall well-being of Canadians.

That’s why we invest portions of our profits in financial literacy, local community organizations, environmental initiatives, co-op programs, and more.

We also match our employees' donations and empower them to get more involved in volunteering.

Our Business Banking Practice :

At Meridian, our vision is to be recognized as the financial institution that has the most local impact, supported by a purpose-driven Value Proposition to our Members.

We take the time to get to know our Members' business, anticipate their needs and provide customized solutions. After all, our obligations are to our Members, not shareholders, and we take to heart the best interests of our Members and communities we serve! We're passionate about what we can do for their business and we’re empowered to leverage our local autonomy to meet their unique needs.

In addition to building customized solutions for business, we offer full service commercial banking solutions, including a wide selection of daily banking products, complementary lending services, cash management solutions, as well as insurance and investments.

About the role :

Reporting to the AVP, Corporate & Structured Finance, and an integral member of the Business Banking delivery team, this role supports and plays a leadership role in ensuring efficient, effective and highly professional delivery of all the highly specialized and complex products and services of the Corporate & Structured Finance Group. This role supports :

  • AVP, Corporate & Structured Finance relative to delivery of our Equity Investment capabilities;
  • Director, Syndications relative to delivery of our Syndication & Third-Party Servicer capabilities; and
  • Other activities within the group on an as-needed basis, including involvement in various corporate development initiatives and projects.
  • What you will do :

    Syndication and Third-Party Servicer Transactions and Agency Function :

  • Work with Director, Syndications in determining which financial institution(s) to approach relative to new outbound syndication participations being offered
  • Obtain NDAs, develop offering emails and term sheets and then deliver these to prospective Participants
  • Set up new outbound syndication on SyndTrak, establishing the appropriate access protocols and then uploading credit applications and supporting data, to be accessed by our prospective participants
  • Draft new Participation and Servicing Agreements to be executed in support of outbound syndications
  • Determine if inbound syndication or Third-Party Servicer opportunities identified are attractive to Meridian
  • Direct attractive inbound syndication and Third-Party Servicer opportunities to the most appropriate BBC, ensuring all supporting documentation is passed along and their questions or requests for additional information are rapidly addressed by the offering financial institution
  • Review inbound Participation & Servicing Agreements received from lead-agents, recommending these for execution by Meridian if deemed appropriate
  • Monitor iLend correspondence between BBCs and Credit relative to existing or proposed syndicated facilities to ensure we are aware of developments and taking appropriate action, including advising Participants and obtaining their formal consent for all material changes
  • Document amendments approved by Participants, drafting Supplemental Participation & Servicing Agreements and having these duly executed by both Meridian and Participants
  • Process lead-agent requests for amendments to existing inbound syndicated facilities. Review and, as appropriate, have supplemental agreements recording the amendments, duly executed by Meridian.
  • Diarize and follow-up on annual reviews due relative to existing outbound or inbound syndications. For outbound syndications, obtain the necessary annual review and supporting documentation and ensure these are delivered to our Participants.
  • For inbound syndications, obtain necessary reviews and supporting documentation from lead-agent and ensure these are delivered to the appropriate BBC relationship team.

  • Primary responsibility for analyzing and developing Syndication Participant Limits Applications for submission to Credit, establishing and then ensuring annual reviews and / or amendments of contingent exposure limits relative to the financial institutions with which Meridian currently or prospectively will undertake syndications or Third-Party Servicer arrangements
  • Record new transactions in the team’s Syndication Report, moving these from prospective to active when the transaction closes, or to terminated if the transaction does not proceed.
  • At month-end, complete the Syndication Report for submission to CMC

  • Ensure the team’s Participant Database is kept current
  • Work with Business Banking Operations, BBCs and our Participants to rapidly resolve any operational issues that arise relative to syndicated or Third-Party Servicer facilities
  • Assist Director, Syndications with any other activities requested to ensure the smooth, efficient and professional operation of the Syndication group and the performance of our Agency functions
  • Equity Investments :

  • Draft Preliminary Investment Recommendations relative to investments Meridian is considering, for review and completion by the AVP and submission to the Real Estate Investment Committee for approval
  • Support extensive analysis and due diligence (including market research) relative to investment opportunities being considered.
  • Follow up with investment sponsor / developer relative to documentation and other information requested.
  • Work with Finance is developing the financial model for each investment and the subsequent Financial Impact Assessment (FIA)
  • Draft Comprehensive Risk Assessment for review by the AVP before submission to Corporate Risk Management for approval
  • Draft final Investment Recommendation for review by the AVP before submission to Real Estate Investment Committee and, if over the CEO’s delegated limit, for presentation to Meridian’s Board of Directors
  • Follow-up with legal counsel to ensure all required legal and investment documentation is completed
  • Complete Meridian’s internal approval process for funding investment draws
  • Follow-up with project sponsors / developers relative to outstanding investments to ensure we are current with how each project and investment are performing.
  • Draft monthly reports to VP, Business Banking, quarterly reports to Real Estate Investment Committee and semi-annual reports to Board of Directors detailing new investment activity, as well as how individual investment / projects and the investment portfolio as a whole are performing.
  • Corporate Development :

  • Support corporate development activities relating to the enhancement or development of syndication or equity investment products, services and delivery capabilities within Meridian, and such other corporate development work as may be requested by the AVP, Corporate & Structured Finance from time to time.
  • Support other members of the team in identifying new-to-Meridian revenue opportunities and / or lines of business. Play an active role in development of such opportunities, supporting analysis / due diligence, business case and proposal recommendation development and presentation and, as appropriate, successful implementation of these new opportunities.
  • What you will bring :

  • Bachelor’s degree in business, commerce, finance or economics
  • Minimum 6 years of corporate and commercial lending, credit granting and commercial relationship management experience in the financial services sector
  • Experience in commercial loan syndications and / or equity investing would be a distinct advantage
  • Demonstrated abilities in negotiating, financial analysis, structuring and underwriting of commercial credit
  • Well-developed critical thinking and problem solving skills, to identify problems, generate solutions and decide on a course of action, after evaluating solutions from business, financial and Member perspectives.
  • Team player with a track record of taking ownership and demonstrating initiative and creativity
  • Ability to communicate effectively (1-on-1, in small groups and in writing)
  • Strong office systems competency (Word / Excel / PowerPoint)
  • What’s in it for you :

  • We have an inclusive and collaborative working environment that encourages curiosity, initiative & creativity and celebrates success!
  • We provide you with the tools and technology needed to delight your Members!
  • You'll get to work with and learn from diverse industry leaders, who have hailed from top organizations around the world
  • Dress for your day! Be comfortable when you can!
  • This isn't your typical ''corporate'' job. We work hard and we have fun!
  • Experience the Difference!

    Thank you for your interest in Meridian Credit Union. Please note that due to the volume of applications, only those under consideration will be contacted for an interview.

    Meridian is committed to providing accommodations for people with disabilities. Should you require an accommodation, we will partner with you to meet your needs.

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