Job Description

Who we are: Meridian\xe2\x80\x99s dedication to helping Canadians goes beyond banking, it\xe2\x80\x99s about achieving a better life! Thriving communities are essential to the individual well-being of our Members and the overall well-being of Canadians. At Meridian, we\xe2\x80\x99re committed to providing exceptional banking, services, security, and advice so our Members can get everything they want from their money, and their lives! Find our story here: About Meridian
Our Retail 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 have a passion for Member Experience, ensuring that Meridian maintains its tradition of exceeding Member expectations and \xe2\x80\x9cBringing the Member Experience to life\xe2\x80\x9d. We deliver Advice based banking, providing tools that reduce complexity, offering information, and motivating our Members to reach their overall financial goals. We thrive through our growth mindset \xe2\x80\x93 being adaptive, resilient, resourceful and creative. Our teams seek and receive feedback to continuously improve, learning from successes and mistakes. We are collaborative, highly engaged and communicate thoughts and ideas in a respectful environment. We value diversity of thoughts and promote inclusion. Our Retail teams work alongside our partners and align financial strategies and activities to support our Members holistic financial growth \xe2\x80\x93 Wealth, Small Business, and Mobile Mortgage Specialists to ensure value added delivery of Member centric products/solutions. We are driven by delivering an exceptional Member Experience and thrive within the changing landscape of the financial services industry.
Purpose of the Job: The Product Specialist - Banking Products & Services is accountable for a number of product-related activities that includes the following business areas; product compliance, product pricing, product support - to enterprise initiatives and internal requests & third-party relationship management. In the area of compliance, support is required to ensure all new and existing product policy documentation aligns to provincial and federal regulations and guidelines. Support is also required in the ongoing management of third-party vendor relationships to ensure the operational effectiveness is maintained. The Product Specialist, Banking Product & Services must also support the ongoing monitoring of Meridian and motusbank\xe2\x80\x99s interest rates and service fee pricing. This includes assistance with any research, revenue analysis and the preparation of written recommendations for senior management. On a day to day basis, support internal stakeholders with requests for product information and (where required) act as an SME to enterprise initiatives.
Key Responsibilities: Risk Management & Compliance:

• Ensure internal policies and Member-facing product materials align with federal and provincial regulations, voluntary codes and public commitments. This includes development of policy and procedures aligned to disclosures, consent language, adherence to privacy, consumer protection, insurance legislation, CASL and all other product specific requirements set out by the Bank and Credit Unions Caisses Populaires Act.
• Ensure processes are developed, implemented, and audited to comply with regulatory requirements.
• Work closely with the Risk and Compliance teams to identify issues and develop mitigating strategies and action plans.
• Maintain strong rapport with internal and external auditors and regulators. Collaborate with internal teams to ensure appropriate processes, documentation and controls exist within all functional areas.
• With the exception of documents owned by Retail Credit, Member Experience \xe2\x80\x93 Sales department is to own accountability for maintaining product terms and conditions in alignment with policy statements. This includes any regulatory or compliance matters received from departments such as CRA, FSRA etc.

Vendor Management & Governance:

• Support the Senior Manager in efforts to ensure third party vendor relationships (outsourced functions) and ensure operational effectiveness is maintained \xe2\x80\x93 resolve issues, ensure SLAs are met, oversee QA audits, sales effectiveness and product training as required.
• Work with vendors and internal stakeholders to manage and update program parameters where required.
• Update the Vendor Management System with any new contracts or provide additional information as required.

Pricing Strategy:

• Perform weekly market pricing reviews and make appropriate recommendations to ensure Meridian\xe2\x80\x99s products are competitively priced and aligned to pricing strategy.
• Monitor and report on activities of key competitors (product and marketing initiatives)
• Leveraging market intelligence to monitoring and update competitive rate and fee analysis
• Support the development of rate and fee recommendations for Executive review and approval. This may include presenting recommendations to these committees as needed.

Initiative and Product Support:

• Support the Senior Manager with the establishment, maintenance, and adherence to appropriate compliance and controls related to product development.
• Provide subject matter expertise (SME) to enterprise initiatives, and internal requests for product information and advice.
• Perform weekly market pricing reviews and make appropriate recommendations to ensure Meridian\xe2\x80\x99s products are competitively priced and aligned to pricing strategy
• Monitor and report on activities of key competitors (product and marketing initiatives)
• Provide product and service support to front line and corporate office employees

Knowledge, Skills and Experience:

• Business degree, preferably in business or finance, with at least 3-5 years of product/service or portfolio experience, ideally within Retail Banking, Small Business, Commercial and Investment industries.
• Demonstrated experience with product compliance with a financial institution employing the Three Lines of Defense
• Demonstrated product/service management skills, analytic and business case experience, consumer insight analysis, and managing profitability and pricing
• Demonstrated experience in analysis with a solid understanding of the financial services industry
• Strong analytical skills
• Independent thinker
• Ability to work with minimal supervision and handle multiple priorities
• Strong business writing and communications skills
• A strong team player that has the ability to work within a cross-functional team, often in different locations
• Strong Relationship Management skills

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. Follow us on Twitter at @MeridianCareers Connect with us on LinkedIn

Skills

Preferred

• Regulatory Compliance
• Manages Competing Priorities
• Decision Making
• Critical thinking
• Collaboration
• Change Management
• Analytical

Behaviors

Preferred

• Detail Oriented: Capable of carrying out a given task with all details necessary to get the task done well
• Team Player: Works well as a member of a group