We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.To learn more about CIBC, please visit CIBC.com (https://www.cibc.com/en/about-cibc.html)Risk Management is led by the Senior Executive Vice-President and Chief Risk Officer (SEVP & CRO) and is accountable for the independent oversight of risks inherent in CIBC’s activities and for the leadership and management of CIBC’s Risk Management department.The US Risk Management function carries out the mandate of CIBC Risk Management at the regional level, ensuring compliance with applicable Parent Bank policies, while complying with local laws and regulations governing the Region and its individual legal entities.Operational Risk Management, US Region develops, implements, and maintains an operational risk management framework and related policies and procedures for the US Region and its individual legal entities. This involves the regional implementation of global CIBC programs, where applicable.JOB PURPOSEThe Incentive Compensation Risk Analyst, US Operational Risk Management is accountable for supporting the Head of Portfolio Oversight, US Operational Risk Management in the following oversight activities:
Risk Analysis and Integration: Analyze risk data and trends to provide insights and recommendations for compensation adjustments.
Risk Review: Support the annual risk review by gathering and analyzing necessary artifacts.
Stakeholder Collaboration: Work closely with Human Resources to gather and analyze relevant data. Communicate findings and recommendations to US Operational Risk Management leadership.
Reporting and Documentation: Prepare detailed reports on risk analysis activities. Assist in the development and sustainment of procedures.
The scope of this mandate includes all Combined US Operations including Commercial Banking, Commercial Real Estate, Private Wealth, Private, Personal, and Digital Banking, Capital Markets, and supporting infrastructure teams including Technology, Infrastructure & Innovation.
KEY ACCOUNTABILITIESAnalysis and Industry IntelligenceSupport the US Head of Portfolio Oversight with the execution of risk input into incentive compensation responsibilities, to include:
gathering and analyzing data that will be leveraged and considered for risk input into incentive compensation.
assessing the Combined US Operations (CUSO) incentive compensation practices against industry and US regulatory guidance.
supporting the annual review of US compensation plans from a risk management perspective.
Policies and Standards
Support the development, review and maintenance of the applicable policies, associated standards, procedures, and methodologies, focusing on establishing a sound and effective risk practice in the US.
Support team and first line in understanding program requirements so that execution of activities are performed in a quality and timely manner.
Monitor the regulatory, business and competitive environment to ensure CIBC remains abreast of changes and emerging/leading industry practices.
Governance Oversight
Support the development of materials distributed to governance forums.
Respond to governance forum action items, as necessary.
CONDUCT AND RISK CULTUREOur CIBC risk culture is based on employees striving to exceed the expectations of ourselves and our leadership’s identification and mitigation of risks in their daily responsibilities, not just in quarterly or annual monitoring/assessments. We all are accountable for managing risk.As an employee of CIBC, the incumbent must conduct themselves (and foster an environment for others) in a manner consistent with our strong risk culture. This includes:
Following all aspects of the CIBC Code of Conduct, as well as all applicable CIBC policies, frameworks, guidelines, processes and controls.
At all times acting in accordance with our Purpose and shared values, to achieve our Bank’s strategic goals.
Understanding and following the qualitative and quantitative components of our Risk Appetite Statements.
Completing all annual Corporate Mandatory Training and Testing modules, as well as any additional business-specific modules, as required and employing the learnings in daily activities and undertakings.
Escalating matters through one of the appropriate channels identified in the CIBC Code of Conduct (i.e., HR, management, Ethics Hotline, Whistleblower, etc.) upon observing activities that may be inconsistent with CIBC’s policies, frameworks, guidelines, processes and controls.
Speaking up if witnessing behaviors that drive poor or unfair outcomes for clients, team members or other stakeholders.
Escalating matters that can result in adverse market practices and outcomes, thereby negatively impacting CIBC’s reputation as a leading financial institution.
CROSS-FUNCTIONAL RELATIONSHIPSThe job will facilitate cross-functional team work as well as participate in cross-functional teams to support initiatives from other groups outside of US ORM and Risk Management. Regular interactions include:
Team members across Risk Management
Human Resources
Internal Audit
COMPLIANCE REQUIREMENTS/RESPONSIBILITIES
As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.
AUTHORITIES/DECISION RIGHTS
This job has the authority to recommend changes to business processes in order to enhance oversight, operational efficiency and effectiveness.
JOB DIMENSIONS
The role contributes to CIBC’s commitment to being a leader in corporate governance, embracing the evolving environment of transparency and internal control.
KNOWLEDGE AND SKILLS
Bachelors or Masters degree
3 - 5 years industry-related experience; strong understanding of the US Banking Industry
Strong analytical and quantitative skills with the ability to interpret data
Detail oriented and highly organized with the ability to manage multiple tasks and deadlines
Strong understanding of risk management principles and their application to incentive compensation
Understanding of CIBC lines of business and support functions across the Combined US Operations
Excellent leadership and business planning skills
Excellent communications skills (written and verbal)
Excellent relationship building skills to establish key relationships within lines of business and other business partners, including governance and oversight functions
Strong knowledge of regulatory requirements
Problem solving skills sufficient to creatively develop unique approaches and solutions necessary to resolve high level, complex and often unprecedented issues
WORKING CONDITIONSThe role operates within a normal office environment with minimal risk of ill-heath or injury. Work pressures caused by tight deadlines can be significant at times.At CIBC, our people are our greatest asset. You’ll become part of a diverse community that acknowledges everyone’sunique talents, and empowers teams to do what’s right for the client and to do it well. As part of our team, you will:
Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and home.
Connect: Work in a place where the right technology and infrastructure foster innovation, collaboration, and creativity.
Develop: Grow your skills and career through our best-in-class onboarding experience, ongoing learning opportunities, individual development planning, and comprehensive product training.
Prosper: Share in our collective success with a competitive salary, incentive pay, banking benefits, health benefits programs, retirement savings, and more.
California residents — your privacy rights regarding your actual or prospective employment (https://us.cibc.com/en/about-us/california-consumer-privacy-act-employment.html)What CIBC OffersAt CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.
We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
Subject to plan and program terms and conditionsWhat you need to know
CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.
We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.
Job LocationIL-70 W Madison St, 9th FlEmployment TypeRegularWeekly Hours40SkillsAnalytical Thinking, Banking, Operational Risks, Operation Risk Management, Regulatory Compliance, Risk Assessments, Risk ManagementAt CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.
