Director, Hedge Accounting

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

What you'll be doing

Reporting to the Senior Director, Treasury Controller, the Director, Hedge Accounting (the “Director”), is responsible for overseeing and maintaining integrity of the daily, monthly, quarterly and annual financial reporting for select Capital Markets and Treasury desks. The Director’s primary purpose is to provide strategic direction, leadership and oversight for the line of business (LOB) financial accounting and reporting within Capital Markets and Treasury ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies and procedures. The Director will lead a team of senior managers and analysts to achieve continuous improvements and operational excellence.  The Director works closely with Finance stakeholders and other cross-functional groups to execute on this mandate.

At CIBC we enable the work environment most optimal for you to thrive in your role. You’ll have the flexibility to manage your work activities within a hybrid work arrangement where you’ll spend 1-3 days per week on-site, while other days will be remote.

How you’ll succeed

• Strategic and new initiatives – Support the Capital Markets and Treasury businesses by assessing opportunities to apply hedge accounting and establishing end-to-end Finance processes.

• Relationship building - Establish strong relationships and deliver on Capital Markets and Treasury LOB business decision support, accounting guidance, investigative analysis.

• Talent development - Lead and develop a highly skilled progressive controllership team including oversight of an offshore managed service team.

• General ledger ownership - Oversee month end close of the finance general ledger, explanation of Capital Markets and Treasury LOB financial results, submission of financial reporting & disclosures deliverables and review of quarterly Board materials.

• Product control – Provide stewardship and oversight of daily risk and Profit & Loss (P&L) reporting. Ensure compliance with hedge accounting standards and effective financial process controls.

• Operational excellence - Drive continuous improvements that strengthen controls to manage financial reporting risks within risk appetite, streamline finance operational processes and increase productivity across the team.

Who you are

• You are a caring and accountable leader. You’re passionate about developing and growing team members abilities. You have experience providing coaching and hands on support to meet team goals.

• You can demonstrate 10+ years relevant work experience in complex financial services organizations. You have comprehensive knowledge of financial products and processes, as well as associated control activities. You will have strong knowledge of IFRS (specifically Financial Instruments accounting standards - IFRS 9/IAS 39), along with excellent communication skills and the ability to translate technical guidance into business terms and implications.  It’s an asset if you have in-depth knowledge of accounting for derivative financial instruments with related understanding of hedge effectiveness testing and processes is also considered an asset.

• You’re a certified professional. You have current accreditation and good standing in a CPA designation or equivalent. 

• You know that details matter. You notice things that others don't. Your critical thinking skills help to inform your decision making.

• You’re goal oriented. You’re motivated by accomplishing your goals and delivering your best to make a difference.

• You love to learn. You're passionate about growing your knowledge. You have a strong sense of curiosity.

• Values matter to you. You bring your real self to work and you live our values - trust, teamwork, and accountability.

#LI-TA

What CIBC Offers

At 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*, defined benefit pension plan*, an employee share purchase plan, 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 conditions

What 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 [email protected]

• 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, French proficiency, 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 Location

Toronto-81 Bay, 26th Floor

Employment Type

Regular

Weekly Hours

37.5

Skills

Accounting, Accounting Processes, Business Data Analytics, Communication, Financial Controlling, Group Problem Solving, Investment Funds, Leadership, Long Term Planning, Operational Control