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Corporate
Governance

How we govern

motusbank recognizes the important role that effective governance plays in providing the basis for confidence among our members, employees, depositors, creditors and regulatory agencies.  Our corporate governance practices are guided by core principles, policies and practices that meet the requirements of regulatory authorities, promote the highest standards of ethical behaviour and risk management throughout the organization, and that seek continuous improvement to align with industry-leading standards.

Management Board of directors Board Committees Contact the board Code of ethics Regulatory disclosures
Day to day operations

Executive Leadership Team

Jay-Ann Gilfoy

President & CEO
motusbank

Jay-Ann Gilfoy joined motusbank as President & CEO and a member of the Board of Directors on January 3, 2022. She is focused on leveraging Meridian’s unique value proposition to transform the business, achieve its winning aspiration and secure its future. In collaboration with the Board and senior management, she is responsible for articulating the organization’s strategy and delivering on its purpose of helping Members and customers achieve a better life, while growing the business.
 

Amrit Chohan

Interim Chief Operating Officer and Chief Financial Officer

As motusbank’s Interim Chief Operating Officer, Amrit is responsible for driving the digital member experience, operational efficiencies, member engagement and growth through the development of enterprise data science and analytics capabilities. He also serves as Chief Financial Officer for motusbank where he is tasked with overseeing all financial areas including fiscal management, planning and controls, regulatory reporting, treasury, credit risk monitoring, and more.

Michelle Hebert

Chief Compliance Officer
motusbank

As motusbank’s Chief Compliance Officer, Michelle is responsible for the strategy to effectively manage compliance risk across motusbank through oversight of the bank’s regulatory compliance management program. She also serves as the Chief Privacy Officer and Member Concerns Officer for motusbank.

Steven Humanski

Chief Risk Officer & Chief Anti-Money Laundering Officer
motusbank

As motusbank’s Chief Risk Officer, Steven is responsible for the independent oversight of enterprise-wide risks inherent to motusbank activities, as well as leading and managing motusbank’s risk management and compliance requirements, strategies and initiatives. He is also Chief Anti-Money Laundering Officer for motusbank.
 

Executive leadership responsibilities Executive leadership

Board of directors

The Board of Directors is responsible for the stewardship of motusbank’s business and affairs and provides strategic direction to management, who has the responsibility of running the day-to-day operations of motusbank.  motusbank believes in the importance of a strong board and sound corporate governance policies and practices to direct and manage our business affairs. motusbank has adopted a strong corporate governance framework to ensure our governance practices reflect our values, respect the interests of our stakeholders and meet the requirements of regulatory authorities.

The motusbank Board consists of eight directors, including:
  • five independent directors, two of which also serve on the Meridian Credit Union Board; and
  • three Meridian Credit Union executives, one of whom is the Bank’s CEO.


Karen Farbridge
Board Chair and Independent Director


Committees: Governance & Nominating Committee

Phil Braginetz
Independent Director


Committees: Risk Committee (Chair); Audit & Finance Committee

Tamara Paton
Independent Director


Committees: Governance & Nominating Committee (Chair); Risk Committee

Andrew Poprawa
Independent Director


Committees: Audit & Finance Committee (Chair), Risk Committee

Sunny Sodhi
Chief Legal and Corporate Affairs Officer, Meridian Credit Union, and Non-Independent Director


Ian Cunningham
Independent Director


Stacey Grant-Thompson
Independent Director


Corporate governance Standing committees

Board committees

 

The Board of Directors carries out its responsibilities directly and through its three standing committees:

Audit & Conduct Review Committee

The Audit & Conduct Review Committee is responsible for ensuring the integrity and quality of motusbank’s financial reporting processes and practices and the effectiveness of the internal and external audit functions.

Governance & Nominating Committee

The Governance & Nominating Committee is responsible for ensuring the effective governance of motusbank, including responsibility for developing governance principles and guidelines, identifying and recommending board candidates for election or appointment to the board and managing the process for orientation, education and assessment of the board, board committees and directors. It also has responsibility for related parties’ compliance.

Risk Committee

The Risk Committee is responsible for the strategic oversight of motusbank’s critical risks, risk management policies, risk appetite framework and investment portfolio as well as compliance with applicable legislative and regulatory requirements.



Contact us

Contact the board

While the Board oversees Management, it does not participate in any of the motusbank day-to-day operations. If you have a Board-specific request or issue, please contact the Board of Directors at any time. The Corporate Secretary will review all inquiries and direct any to the appropriate person if a response is required.

To contact a member of the Board

Mail:
motusbank
Attn:  Name of Board Member
c/o Corporate Secretary
3280 Bloor Street West
Centre Tower, Suite 2700
Toronto, ON M8X 2X3

Telephone:
1-833-696-6887
Email:
Board.OfDirectors@motusbank.ca

To contact our Corporate Secretary

Mail:
motusbank
Attn:  Amira Abouali, Corporate Secretary
3280 Bloor Street West
Centre Tower, Suite 2700
Toronto, ON M8X 2X3


Telephone:
1-833-696-6887
Email:
Board.OfDirectors@motusbank.ca

motusbank code of ethics

Code of Ethics

One important way that motusbank promotes our values and communicates the behaviours and actions expected from our employees, officers and directors is through our Code of Ethics (“Code”).    

motusbank is committed to a policy and practice of fair dealing and integrity in the conduct of business. This commitment is based on a fundamental belief that business should be conducted honestly, fairly and in accordance with law and sound ethical conduct for the benefit and protection of motusbank, its employees, members, board and supplier partners, and to help to maintain motusbank’s reputation for integrity.

All employees, directors and officers of motusbank, its subsidiaries and affiliates are expected to share this commitment to high moral, ethical and legal standards.  As a demonstration of this commitment, they are required to be familiar with the Code, and agree to abide with our Code as a condition of employment, and to review the Code annually and affirm that they understand their role in upholding motusbank’s ethical standards.