The Audit & Finance Committee’s principal role is to ensure the integrity of financial reporting and internal controls, accounting policies and reporting procedures. They also oversee internal audit function alongside compliance with all applicable regulations, and manage the audit relationship with the external auditors.
Bruce West - Chair
Carol Hunter
Andrew Lo
Hari Panday
Mike Valente
Reviewing financial statements, internal controls, accounting policies and reporting procedures
Reviewing Meridian’s financial performance relative to established metrics, including the annual budget
Ensuring integrity of financial reporting
Overseeing internal and external audit processes and relationships, including approval of annual audit plans, and receiving the external audit plan and year-end findings report
Overseeing Audit and non-Audit services by the external auditors
Overseeing capital management processes and reporting
Overseeing compliance with applicable statutory and regulatory requirements
Reviewing and monitoring compliance with thresholds or limits required under Board policies
Monitoring the independence of external auditors
Overseeing the relationship with the Chief Audit Executive
Meridian’s Governance Committee is responsible for creating and maintaining a healthy governance culture. They ensure that Members are assured of appropriate representation and governance structures, policies and procedures that reflect the industry’s current best practices.
Hari Panday - Chair
Larry Doran
Karen Farbridge
Gail Harding
Maintaining a healthy governance culture and oversee governance policies
Ensuring the process for evaluating Board and Committee performance in order to assess the effectiveness of the Board, its Committees and Committee Chairs
Overseeing the Board’s annual strategic planning process
Regular review of Board governance policies
Orientation and evaluation of Directors
Assessment of Board/Management relationship and Management performance
Oversee the development plans of Directors
Ensuring opportunities for promoting Meridian through interactions with other credit union Directors
Accountable for the general content, objectives and guidelines of Meridian’s annual report
Overseeing activities associated with the Annual General Meeting and any Special Members’ Meetings
Meridian’s Human Resources Committee is responsible for overseeing the HR policies and programs. They ensure that policies and programs are developed, implemented and adhered to by Management in support of business strategies. They also support Meridian employees, that they receive fair and meaningful employment in a safe and respectful workplace.
Tamara Paton - Chair
Ian Cunningham
Suanne Nielsen
Bruce West
Reviewing the HR policies and programs to ensure that they are developed, implemented and adhered to by Management in support of Meridian’s business strategies
Overseeing Meridian’s employee Pension Plan(s)
Administer the review process of the CEO’s performance and compensation
Overseeing and review the compensation and talent management plan for the Executive Leadership Team (CEO’s direct reports)
Overseeing the succession planning for the President & CEO and Executive Leadership Team
Review and recommend Director Compensation
Reviewing talent, corporate culture, and employee conduct.
The Nominating Committee is responsible for overseeing the process of nominations including evaluation, selection and election processes for Board candidates.
Larry Doran - Chair
Jackie Beaurivage
Assessing of the adequacy of the candidate pool to ensure it fulfills any identified gaps
Overseeing nomination, assessment and recommendation of best qualified candidates for the Board
Overseeing the Director election processes
Meridian’s Risk Committee is responsible for ensuring processes for identifying, managing and monitoring critical risks within the credit union. They oversee Meridian’s credit risk management policies and FSRA standards and conduct all activities associated with Enterprise Risk Management including the establishment of a risk appetite framework; and to the investment portfolio. In addition, the Committee is responsible for the review and approval of credit transactions for Meridian’s restricted parties.
Gail Harding - Chair
Tamara Paton
Ensuring a robust process for identifying, assessing, reporting, managing and monitoring Meridian’s critical and emerging risks
Ensuring policy guidelines and systems are in place to ensure that enterprise risks are within approved risk appetite
Overseeing the establishment of a risk appetite framework
Providing strategic oversight to risk management policies and FSRA standards
Reviewing and approving individual restricted party credit applications