Senior Risk Manager, Retail Lending & Wealth Risk Management recruitment

APPLICATION INSTRUCTIONS:

1. Resumes must be submitted online only, through the (RMS) Recruitment Management System. All interested candidates must submit their profile by clicking on the "apply" button: https://www.cibc.com/ca/inside-cibc/careers.html. Apply to job number J1011-0285.  Please do not email your application to the recruiter or hiring manager.
2. Late submissions will not be accepted.
3. CIBC thanks all applicants for their interest, however, only those selected for an interview will be contacted.
4. Please note that if you are selected for an interview, due to volumes of applicants, you may not be contacted immediately.
5. Meeting the minimum requirements of the vacancy will not guarantee an interview.
6. If you are not selected for an interview, you will receive an e-mail advising you that the position has been filled.
 

JOB OVERVIEW:
Responsibilities for this group include the optimization of lending profitability through effective credit risk guidelines, loan loss strategies and asset/revenue protection through the use of fraud analytics and strategy development for all retail and credit card products.

The management of risk is a fundamental element of CIBC's objective of consistent and sustainable performance over the long term. To support that goal, CIBC’s Risk Management group performs several critical activities including the following; monitoring, measuring and controlling the credit, investment, market, operational, liquidity, reputation and legal risks to CIBC, managing capital and allocating resources towards activities with higher return and strategic growth, implementing the Basel II Accord.

Retail Lending Wealth Risk Management (RLWRM) primarily oversees the management of credit and fraud risk in the retail lines of credit and loans, residential mortgage, and small business loan portfolios. Responsibilities for the group include the optimization of lending profitability through the development of effective credit risk guidelines, loan loss mitigation strategies and asset/revenue protection through the use of fraud prevention strategies.

The Wealth Risk Management group supports the CIBC Wealth Management strategic business unit, which is focused on providing excellence in relationship-based advice, service and product solutions that meet our clients' needs. It has a comprehensive offer that addresses the full spectrum of wealth building clients, from self-directed investors to high net worth private wealth individuals to institutional clients.

Relevant Job Criteria:
- You must have prior legal authorization to work in the location for which you are applying.
- Relocation assistance is not available with this opportunity.

Job Overview:
JOB PURPOSE

Reporting to the Senior Director, Wealth Risk Management, the Senior Risk Manager, Retail Lending and Wealth Risk Management provides subject matter expertise and comprehensive analysis of Wealth Management investments, investment performance and strategies. These include complex investment instruments such as exotic products and derivatives. The role will also support the Senior Vice-President/Senior Director with initiatives across Retail Lending and Wealth Risk Management initiatives as well as reporting and review of risk management practices and processes.

KEY ACCOUNTABILITIES

• Provide analysis and expertise on risks of current and potential investment products and services offered to Wealth Management clients.
• Conduct research on new and existing investments products, particularly those involving non-public investments including exotic products/derivatives.
• Document research findings and interpret data to understand potential risk to both CIBC and Wealth Management clients.
• Provide recommendations to mitigate applicable risk and if required, assist senior management with the development and implementation of risk mitigation strategies.
• Act as the “go to” person and subject matter expert for staff within Retail Lending and Wealth Risk Management seeking understanding/knowledge of complex Wealth Management instruments.
• Provide support and information about risk management activities to various business leaders within Wealth Management.
• Monitor and identify potential risks and control deficiencies in a timely manner, escalate and recommend possible solutions as appropriate.
• Support the Senior Vice-President, Retail Lending and Wealth Risk Management in preparing reports, management dashboards and initiatives across Retail Lending and Wealth Risk Management as required.
• Keep abreast of the latest advances in Risk Management techniques so as to recognize opportunities for improved portfolio management practices.

CROSS-FUNCTIONAL RELATIONSHIPS

• Colleagues across Risk Management within Retail, Commercial, Wholesale, and Capital Markets Risk
• CIBC Wealth Management business leaders/colleagues
• CIBC Wholesale Banking business leaders/colleagues
• Risk Industry Associations

COMPLIANCE REQUIREMENTS/RESPONSIBILITIES

• As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, guidelines and controls.
• Quality of the analysis performed by this role is important as results/outcomes will inform business decisions.
 

KNOWLEDGE AND SKILLS:

• CFA (preferably),or equivalent.
• Thorough knowledge of the investment industry and sophisticated investment products such as derivatives.
• Solid knowledge of risk systems and business processes as it relates to the Wealth Management businesses.
• Solid understanding of the economic and regulatory environment as it pertains to management of risk at a major financial institution.
• Solid analytical, research and data interpretation to develop recommendation and arrive at sound conclusions.
• Ability to accurately assess different stakeholder requirements, the relevant risk factors and the profitability contribution potential.
• Ability to develop and sustain relationships and strong communication/facilitation skills to effectively prepare and deliver presentations.
• Ability to effectively manage competing priorities and deliver on deliverables within tight deadlines.

Location of Position(s) :
Toronto