Job 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.



To provide moderate and complex collection support to the Credit Recovery Team. Responsible for high quality work, ability to co-ordinate accurate month end impairment reporting as required, process complex and high importance transactional entries with a high degree of accuracy, and to assist the Credit Recovery Team as required.



Act as the key liaison and negotiate with utility companies and Cities/Municipalities with respect to utility issues and property taxes both current and in arrears on all Power of Sale (POS) properties. Mitigate losses through negotiation where possible. Responsible to facilitate the re-connection of all utilities on POS properties by coordinating logistics between both utility companies and property management companies on site. Ability to handle multiple priorities and interact and educate Branch Staff, interact with Internal Departments and 3rd parties with tact and diplomacy while maintaining ultimate confidentiality.

Key Responsibilities:

Please note - this is a 6-month contract opportunity



1. Credit Recovery Activities


Compile Branch files and securities as needed to coordinate the workflow for the Account Officers and Account Managers. Manage official cheque reconciliation & manage process to pay invoices from Lawyers, Bailiffs, Small Claims Court action, property tax and condominium arrears and for all Third Party Requirements to Pay. Responsible for official cheque register, inventory, and audit compliance for the Credit Recovery Department. Calculate outstanding balances for loan, LOC and mortgage write offs, prepare all slips, post entries and keep precise records of the retail credit facilities written off and retail recoveries for the Department for audit and compliance purposes. Maintain all Judgment and Writs on file for the Retail and Commercial Credit Departments by maintaining log and forwarding renewals to Sheriffs in the various regions as required. Post daily entries to Member Expense LOC accounts and complete daily filing to Expense LOC folders. Post daily transactions on Encore/Ovation and update both CHUB Elements and CRM/ACE as required with a high degree of accuracy. Process commercial credit requests for complex write offs and write downs on commercial debt and process commercial recoveries ensuring appropriate GL distribution and tracking for month end reporting. Provide back up for Commercial Credit Representative when required and provide ongoing assistance as needed. Reconcile all Retail & Commercial Credit General Ledger and Sundry accounts on a monthly and quarterly basis as outlined by MCU policies and procedures and forward to Finance as required. Prepare and provide information and documentation requested by both Internal and External Auditors (FSRA, Sagen, etc.) as directed. Complete set up for impaired credit facilities as instructed by Credit Recovery Team. Provide backup for the Credit Recovery Department, answer general enquiries from Members and Branch staff when necessary. Adhere to strict P&P and compliance protocols within the CR guidelines, as well as all provincial FSRA and OSFI regulations. Able to call members for data collection as needed to assist the CR team. Notes and documents account modifications, adjustments, or advisory announcements in all Meridian and Motus banking systems as needed. Other responsibilities on special projects assigned to Credit Recovery. Other duties as assigned.

2. Property Maintenance / Insurance


Accurately manage foreclosure insurance for Power of Sale properties as required. Ensure ongoing balancing of Foreclosure Insurance GL as well as annual submission to Canada Life. Process invoices and prepare official cheques from various utilities, property management firms, lawyers, Bailiffs, Receivers and Appraisers in a timely manner. Set up expense LOCs for Power of Sale Properties, repossessed chattels and ensure precise maintenance of same. Complete and maintain monthly delinquency reporting as required for CMHC, Sagen and Canada Guaranty Mortgage Insurance Companies. Communicate with municipalities in writing of changes in billing for utilities on properties under Power of Sale. Make verbal contact with Municipalities and Utility Companies to affect reconnection of service when required. Co-ordinate logistics with Property Management Companies to ensure availability for reconnection of services.

3. Reporting


Complete monthly/quarterly delinquency reporting as required for the Board under tight deadlines with a high degree of accuracy. Refresh and generate Ad-Hoc internal reports as needed by the Credit Recovery Team.Prepare reports for all Credit Management Reporting and Finance Manage and balance all GL's and Net Suite Reporting Ensure Impairment and Write-off reporting is updated on a monthly basis.

4. Problem Solving


Problem solving critical issues affecting daily operations of Credit Recovery department, and time sensitive transactions. Escalates more complex issues with recommendations as appropriate after due diligence and investigation. Assist with researching policy covenants within emerging market trends (eg. Provincial Offences Act). Use independent judgment to continually improve internal processes or procedures. Demonstrate a willingness to assume higher degrees of accountability and responsibility with respect to working with property management companies, municipalities and utility companies. Continuously search for new and better ways to process work that will enhance the Member experience and reduce costs of providing the service or processing transactions. Work collaboratively in a team environment with peers and colleagues throughout the collection process by sharing best practices

5. Communication


Requires tact and diplomacy to respond to inquiries from Members under the management of Credit Recovery, while staying within the guidelines of the Privacy Legislation Act Provide guidance to Branch Staff on Credit Recovery P&P guidelines. Manage routine issues & problems with third parties. Provide ongoing procedural and technical support for the Credit Recovery Team and Branch staff, other departments and external partners. Strong verbal and written communication skills; must be confident in dealing with external lawyers, Municipalities, property management companies and external utility vendors. Must be able to handle difficult and challenging conversations with Members

Knowledge, Skills, and Abilities

Extensive knowledge of Ovation, Microsoft Word, Excel, Microsoft 365 CRM, and C-HUB. Willing to train and/or upgrade computer skills as required. Willing to upgrade computer skills with respect to EDW Proven ability to work independently and accurately within strict timeframes. Capacity to manage and carry out multiple tasks and priorities in a demanding environment. Demonstrate effective inter-personal skills conducive to a team environment. Excellent organizational skills, problem solving & time management ability and a commitment to a high degree of accuracy. Demonstrates creativity in developing and streamlining internal procedures and processes. Demonstrates Meridian values through leadership and behaviour. Positive team player, flexible in nature. Commitment to values and service excellence.

Education, Designations, Training, and Experience

Minimum 5 years' experience in bookkeeping and administrative functions. Paralegal or Law Clerk experience ideal

Office Location:

3330 Bloor Street West, Toronto

OR

75 Corporate Park Drive, St. Catharines.

This is a hybrid work opportunity.

Meridian has a remote work policy that allows flexibility for employees to work remotely but also requires a minimum of semi-monthly 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 important to us.



What's in it for you?


We have an inclusive and collaborative working environment that encourages teamwork, creativity, curiosity, and celebrates success! We provide you with the tools and technology needed to delight your candidates and clients! You will get to work with and learn from diverse industry leaders and colleagues, who have hailed from top organizations. Hybrid work arrangements with in-person office time to collaborate, innovate and build relationships with your colleagues. This is not 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 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: 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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