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Board Committees   

Meridian has five standing committees which work together to maintain and streamline the following areas: Audit & Finance, Governance, Human Resources, Nominating and Risk.

Audit & Finance Committee

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.

Committee Members:

  • Bruce West - Chair

  • Carol Hunter

  • Andrew Lo

  • Hari Panday

  • Mike Valente

Duties include:

  • 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


Governance Committee

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. 

Committee Members:

  • Hari Panday - Chair

  • Larry Doran

  • Karen Farbridge

  • Gail Harding

  • Carol Hunter

Duties include:

  • 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


Human Resources Committee

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.

Committee Members:

  • Tamara Paton - Chair

  • Ian Cunningham

  • Karen Farbridge

  • Suanne Nielsen

  • Bruce West

Duties include:

  • 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.


Nominating Committee

The Nominating Committee is responsible for overseeing the process of nominations including evaluation, selection and election processes for Board candidates.

Committee Members:

  • Larry Doran - Chair

  • Jackie Beaurivage

  • Ian Cunningham

  • Karen Farbridge

  • Suanne Nielsen

Duties include:

  • 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


Risk Committee

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.

Committee Members:

  • Gail Harding - Chair

  • Jackie Beaurivage

  • Andrew Lo

  • Tamara Paton

  • Mike Valente

Duties include:

  • 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