Director Non-Trading Market Risk

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

The group actively partners with Treasury, other CMRM Risk colleagues and core strategic business units (SBUs) to produce key reports and metrics for senior leadership and regulators to measure and validate CIBC’s structural interest rate and liquidity risk posture.

This function will provide ‘second line of defense’ risk coverage for ensuring alignment between the strategic use of the banks’ balance sheet.  This will involve an in depth understanding of the interaction between asset-liability management (ALM) and liquidity management to determine efficient deployment of balance sheet resources.

The Director will participate in the risk management governance of customer behavior assumptions used within ALM and liquidity modelling. The position will also participate in the oversight and analysis on deposit modelling for both interest rate sensitivity and stability.

In the discharge of duties, the Director is expected to be an active participant in in the following committees when areas of oversight are discussed or impacted:

• Sub-committees of US ALCO
• US Asset Liability Management Committee (US ALMC)
• ALM Assumption Working Group
• Structural Interest Rate Risk Analysis and Assumption Review Council

The Director is expected to participate in complex group-wide projects, contributing innovative thinking and an advanced analytical approach. The incumbent requires a deep understanding both of the financial markets in general, the analytical principles underlying asset liability management and the banks’ balance sheet.

The Director/Executive Director has core competencies in:

• integration of valuation and simulation analytics to meet internal and external requirements;
• effective and efficient implementation of market risk measurement system enhancements;
• strong leadership skills in leading a small group of high performers;
• acting managerially and strategically to resolve and implement short term and long term solutions

How You’ll Succeed

• To co-ordinate the implementation of systems and processes for the measurement and monitoring of market risks in the Treasury, subsidiary and globally as part of a team.
• To assess and report on the ongoing risk profile of specific parts of the Treasury, subsidiary and other non-trading businesses, maintaining a continuous awareness of issues affecting the markets involved.
• To raise concerns to senior management on risk levels not commensurate with the portfolios risk appetite.
• To work with individual traders and infrastructure units to ensure their understanding and commitment to evolving risk management methodologies. To conduct formal and informal training as required.
• Analyze and report on the ongoing risk profiles, maintaining a continuous awareness of issues affecting the risk management of these markets.
• Review market risk limits on an ongoing basis.
• To be proactive regarding regulatory driven market risk management requirements
• To provide conceptual thinking ability regarding complex risks, with effective communication to a wide range audiences

Who You Are

• The ED/Director must have highly specialized quantitative expertise, business knowledge and experience to influence and support the development, implementation and maintenance of market risk models 
• The candidate should have advanced knowledge of the United States and international interest rate (IR) derivatives markets, including practical knowledge of derivative instruments and the issues surrounding their pricing and risk management
• Extensive practical trading and/or risk management experience for IR derivatives, fixed income derivatives, and ALM concepts
• Familiarity with methodologies for quantifying and analyzing market risks, good knowledge of relevant systems/programming issues related to market risk system deployment
• Comprehensive understanding of key finance/investment management concepts as well as strong skills in analytical research and pricing/statistical modeling.
• Solid understanding of derivative instruments and the issues surrounding their pricing, accounting treatment and risk management.
• University degree in finance, mathematics, physics, engineering or related discipline. A CFA/FRM/PRM designation is an asset.
• Strong analytic, problem-solving, conceptualization and strategic thinking skills.
• Ability to work independently within a matrix reporting environment, but also capable of functioning as part of a team; open to new approaches/ideas.
• Excellent presentation and communication skills, both oral and written.
• Ability to communicate very technical, analytical or conceptual information and ideas to traders, management and analytic developers.
• Ability to effectively manage multiple projects of varying complexity.
• Excellent interpersonal, negotiation and mediation skills.

At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $160,000-$200,000 for the New York, NY market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.

Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.

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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*, 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, 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

NY-300 Madison Ave., 6th Floor

Employment Type

Regular

Weekly Hours

40

Skills

Analytical Thinking, Balance Sheets, Decision Making, Finance, Financial Markets, Group Problem Solving, Interest Rates, Liability Management, Liquidity Risk, Market Liquidity, Market Risk Management, Regulatory Requirements, Reporting and Analysis, Researching, Risk Analysis, Risk Management Framework