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.
Ken Bolton - Chair
Ian Cunningham
Gail Harding
Hari Panday
Mike Valente
Reviewing financial statements, internal controls, accounting policies and reporting procedures
Ensuring integrity of financial reporting
Overseeing internal and external audit processes and relationships
Overseeing Audit and non-Audit services by the external auditors
Monitoring Regulatory compliance
Reviewing and monitoring compliance with Board policies
Ensuring compliance with Restricted Party and Conflict of Interest matters
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.
Bruce West - Chair
Larry Doran
Karen Farbridge
Carol Hunter
Overseeing the Board and Committee structure and membership
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 planning process
Regular review of all Board’s governance policies
Orientation and evaluation of Directors
Assessment of Board/Management relationship and Management performance
Development of Directors
Ensuring opportunities for promoting Meridian through interactions with other credit union Directors
Taking a leadership role within the credit union system
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
Andrew Lo
Bruce West
Reviewing Board’s People Policy and recommending changes
Ensuring our compensation philosophy and guidelines for compensating the Credit Union’s employees, and confirming they are aligned with the Credit Union’s business strategies
Overseeing Meridian’s employee Pension Plan(s)
Reviewing results of the annual Employee survey
Due diligence on the process for establishing the performance metrics and measures for, the performance assessment of, and recommending the compensation for the President & CEO
Overseeing compensation and talent management plan for the Executive Leadership Team (CEO’s direct reports)
Overseeing the process for the Board to provide input to Management on the performance metrics and measures for, performance assessment of, and talent management plan for the Corporate Secretary
Succession planning for the President & CEO, Executive Leadership Team and Corporate Secretary
Recommending Director Compensation to the Board
The Nominating Committee is responsible for overseeing the process of nominations including evaluation, selection and election processes for Board candidates. They also manage activities associated with the Annual General Meeting, including the Annual Report.
Carol Hunter - 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.
Larry Doran - Chair
Ken Bolton
Tamara Paton
Ensuring policy guidelines are in place throughout Meridian
Reviewing and approving individual connected and restricted party credit applications
Annual review of several Board Risk Management policies
Monitoring risks associated with major project initiatives which support Meridian’s Strategic Plan.