Senior Manager, Funding

Meridian Credit Union Ltd; Toronto; Hybrid; CAD 100,000 - 140,000; Full time

Job summary

Join Meridian Credit Union as a Senior Manager within the Treasury team, responsible for managing funding programs and capital market activities. You'll leverage your expertise in securitization and compliance, while collaborating with cross-functional teams to ensure effective execution and strategic planning in a dynamic hybrid work environment.

Benefits

Hybrid work arrangements

Inclusive and collaborative working environment

Tools and technology for success

Learning opportunities from industry leaders

Qualifications

• 5 - 7 years of experience in treasury and capital markets within financial services.
• Expertise in funding programs management and capital market knowledge.
• Experience in financial modeling is an asset.

Responsibilities

• Manage and execute monthly NHA-MBS/CMB transactions.
• Prepare quarterly regulatory securitization reporting.
• Support new funding programs and monitor market conditions.

Skills

Analytical skills

Communication skills

Project management

Education

Undergraduate degree in finance or economics

Professional designation (CPA, CFA, FRM)

Job description

Toronto Corporate Office
Etobicoke, ON M8X 2X3, CAN

Description

Why Meridian?

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.

You will report directly to the Director, Funding, and play a key role within Meridian Credit Union’s Treasury Team. The position is responsible for the day to day management of the credit union’s funding programs, including: Canadian Mortgage & Housing Corporation (CMHC) MBS & CMB securitization, non-government sponsored securitization, credit facilities, subsidiary funding and collateral management. The role also supports development of new funding programs and product offerings by providing capital market insights. Additionally, the Senior Manager will be a key contributor to the management of third party originated asset acquisition including, CMHC insured multi-unit residential mortgages and conventional single family residential mortgages. This role requires advanced capital markets knowledge, strong analytical capabilities, excellent communication skills, and the ability to influence stakeholders.

What you will do:

• Monitor and report on Meridian’s collateral and funding activity monthly
• Prepare quarterly regulatory securitization reporting, including key ratio calculations to ensure compliance with Board risk appetite and conducting stress testing
• Manage and execute monthly NHA-MBS/CMB transactions, including MBS guarantee and CMB allocation submission, SWAP allocation, and market pool trading
• Allocate portfolio insurance, and manage insurer relationships
• Collaborate with cross-functional teams, including Treasury’s Mid/Back Office and Credit Analytics to ensure compliance with CMHC and regulatory guidance
• Interpret CMHC advices and provide subject matter expertise to support Retail Banking product development
• Evaluate and compare funding costs across securitization and wholesale funding programs
• Manage relationships with capital market counterparties and funders

Support for OneCap, ABCP, and New Funding Programs

• Contribute to the annual renewal of OneCap and ABCP securitization programs
• Support and monitor monthly servicer reports, asset sales, and hedging processes
• Monitor capital markets to recommend optimal funding allocations and ensure execution quality
• Support multi-unit residential mortgage securitization, including volume monitoring, cost of funds update, hedging, and rate lock coordination
• Provide subject matter expertise to support Business Banking in the multi-unit residential market

Funding Plan and Forecasting

• Provide input into annual planning and regular forecasting for wholesale funding strategy including sources of funding, costs, volume, and timeline
• Support the renewal of multiple credit facilities and advise on terms and pricing
• Contribute to the development of strategies, policies, risk controls, and standard operating procedures for funding activities

Third-Party Loan Acquisition Support

• Manage monthly reporting on third-party loan acquisitions
• Monitor and forecast portfolio profitability, run-off, renewals, and new originations
• Support due diligence and regular reviews of third-party originators/servicers
• Monitor market and regulatory changes that may impact acquisition strategies or third-party partners

How you will succeed:

• 5 - 7 years of relevant experience in treasury and capital markets within financial services
• Undergraduate degree in finance, economics or related field, and a professional designation (CPA, CFA, FRM) is preferred
• Financial & database modelling experience is an asset
• Expertise in funding programs management, including administration, forecasting, stress testing, program renewal, and agreement reviews
• In-depth knowledge of securitization and capital markets
• Advanced financial modeling skills
• Strong understanding of NHA-MBS and CMB programs
• Familiarity with financial institution product offerings
• Ability to manage multiple projects with cross-functional teams
• Strong quantitative, analytical, written, and verbal communication skills
• Exceptional attention to details

Join us! Our team works in a hybrid environment at 3280 Bloor Street West, Toronto. This role is majorly work from home.

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, who have hailed from top organizations around the world
• Hybrid work arrangements with in-person office time to collaborate, innovate and form relationships with your colleagues
• This isn't your typical "corporate" job. We work hard and we have fun.
  
  

Our story:

Meridian is Ontario’s largest credit union, and second largest in Canada, helping to grow the lives of our more than 360,000 Members. Meridian has more than 75 years of banking history and is 100% owned by its members. With 89 retail branches and 15 Business Banking Centers across Ontario and $ 30B in assets under management, Meridian offers a full range of financial products and services to its retail, business banking and wealth members. With over 2000 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.

Our Commitment to You

Meridian is 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.

We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

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.