Portfolio Manager, Business Controls Specialist

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

US Risk Management (RM) is led by the US Chief Risk Officer and is accountable on matters relating to the independent oversight of the management of risks inherent to CIBC’s activities in the US. These risks include, but are not limited, to ensuring that effective processes are in place for the identification, measurement, mitigation and monitoring  of operational, reputation and legal, market, credit, investment and liquidity risk, collectively “CIBC Risk”, incurred by CIBC’s businesses, infrastructure and corporate governance groups. 

US Operational Risk Management (ORM) department is responsible for providing oversight and second line of defense challenge of operational risk exposures within all business units across the US Region.

What You'll Be Doing

The Portfolio Manager (PM), Business Controls Specialist, US ORM acts as a second line of defense in ensuring that the bank’s operational risk and control frameworks, policies, standards and procedures are understood and used effectively to manage operational risk. The Consultant provides oversight and effective challenge by working with business leaders across the Combined US Operations all aspects of operational risk management (process, people, and systems) and control framework and policy requirements. This role reports to the Director, US Internal Controls Validation (ICV), US Operational Risk Management.

Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.

How You'll Succeed

• Provide independent effective challenge over first line of defense control activities.
• Test first line of defense controls as dictated by the US ICV Program.
• Identify and notify the first line of defense of any control gaps, ineffective controls, or non-adherence to testing requirements as identified via US ICV program execution.
• Promote a “controls and operational risk culture” that includes managing internal relationships to promote acceptance and implementation of operational risk programs.

• Stay current on regulatory changes and industry leading practices in operational risk, control frameworks, and control testing to ensure CIBC operational risk management meets regulatory expectations, and is effective and efficient.

Who You Are

• At least 5 years of relevant work experience in the financial industry is desired. Large Financial Institution or Large Foreign Banking Organization second line of defense experience is preferred.
• At least 5 years of experience in control testing and/or second line of defense independent effective challenge over first line of defense control testing activities.
• Bachelor’s degree desired.
• Excellent leadership and business planning skills.
• Working knowledge of risk assessment, control concepts and methodologies that can be used in an Operational Risk context.
• Excellent analytical, communication (written and verbal) and interpersonal skills.
• Solid understanding of regulatory expectations and leading practices of the financial industry specifically for risk management with an emphasis on operational risk management.
• Ability to demonstrate CIBC’s core values (i.e., trust, teamwork and accountability);
• Good conceptual thinker and ability to synthesize complex information into clear and precise business solutions;
• Ability to manage multiple projects and/or initiatives simultaneously under tight deadlines.
• Values matter to you. You bring your real self to work and you live our values - trust, teamwork, and accountability.

California residents — your privacy rights regarding your actual or prospective employment

At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $140,000 - $160,000 for the 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 may also 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.

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

IL-70 W Madison St, 9th Fl

Employment Type

Regular

Weekly Hours

40

Skills

Analytical Thinking, Business Risks, Continuous Improvement Techniques, Control Frameworks, Decision Making, Emerging Risks, Group Problem Solving, Operational Risks, Operation Risk Management, Risk Assessments, Risk Management, Risk Monitoring