Senior Director, Operational 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 (https://www.cibc.com/en/about-cibc.html)STRATEGIC BUSINESS UNIT DESCRIPTIONCIBC is building a relationship-oriented bank for a modern world. Our role is to maintain an effective control environment and oversee the sound risk management of our bank, consistent with our Risk Appetite Statement. We help safeguard our reputation and brand while providing proactive advice and oversight of CIBC's compliance with regulatory requirements, including those related to consumer and investor protection, sales practices, securities trading, and anti-money laundering.JOB PURPOSEAs the second line of defense, the Senior Director, US Operational Risk Management’s primary purpose is to:

provide leadership in the deployment of operational risk management practices in US and input to tools and practices that analyze and report operational risks; Ensure the organization's risk management policies and strategies are in compliance with applicable regulations, rating agency standards, and strategic imperatives of the US Region and aligned with CIBC Global practices;

Oversee all operational risk management activities in the US Region and monitor risk performance against the approved Risk Appetite;

Monitor and analyze risks within the Bank's business units and reports on these risks to the Head of US Operational and Enterprise Risk, the US CRO and Global Operational Risk Management and CIBC Executive Management; and

Chair or provide key inputs into the US Region's Operational Risk Committee and other risk committees as appropriate

KEY ACCOUNTABILITIESOperational Risk Appetite

Lead the development of the Region's Operational Risk appetite by working with the Head of Operational and Enterprise Risk and other key stakeholders

Work with key stakeholders to determine/develop metrics used to monitor [Operational] Risk Appetite

Operational Risk Governance/Oversight

Ensure effective reporting to the US Region Operational Risk Committee by monitoring and reporting on key risks, issues, emerging risks and applicable Risk Appetite metrics and KRI's.

Work with key stakeholders to determine/develop key risk indicators for monitoring Operational Risks in various business units

Escalate top operational risks to the US CRO and Global executive management

Operational Risk Management Practices

Lead the implementation of the risk and control identification and assessment tools within the US region (i.e. external event reviews, incident reports, change initiative risk assessment (CIRA), Risk & Control Self Assessments, etc.). The operational risk and control framework tools are a key enabler of CIBC’s operational risk program and as such, the proper application and oversight of the tools are an important part of CIBC being able to manage and monitor its operational risks

Develop/maintain an Operational Loss monitoring program and ensure that associated losses are entered in Operational Risk System (ORS); report analysis, findings and risks to Executive Management

Provide input to CIBC to support the periodic review of the US Region’s Incentive Compensation Plans and program

Provide oversight and guidance to the US CIRA committee to ensure it operatesin accordance with the CIBC CIRA process and program

Provide feedback/input on the continuous enhancements to the risk practices

Stay current with the regulatory requirements on operational risk management and emerging risk management practices

Portfolio Management

As a business partner to the US Region, provide value added operational risk advice including, but not limited to, conducting deep dive/risk reviews on selected high risk topics in the Region, review findings and recommendations with the business

As a second line of defense, provide effective independent challenge to the operational risk management activities in the business

Model Risk

Develop/maintain a Model Risk Management Program for the US Region

Facilitate model risk assessments with lines of business and Global Operational Risk Management

People Management

Set priorities for the US Operational Risk Management Team and provide leadership in achieving deliverables

Ensure competent staff is recruited, retained, developed, trained, motivated and rewarded fairly

Ensure roles and responsibilities of all team members are in line with business strategy and the team has role clarity

Manage performance by providing fair and accurate formal and informal feedback, identify and remove obstacles to performance and explain how performance expectations align with business priorities

Ensure compliance with policies, standards, guidelines and controls by applying the policies and controls fairly and consistently so employees understand what to expect

KNOWLEDGE AND SKILLS

College degree in a related area

Minimum 10 years’ experience in Banking and Risk Management or related field

Familiar with a variety of risk management topics, concepts, practices and procedures

Prior management/supervisory experience

Excellent analytical, communication and interpersonal skills

Solid understanding of regulatory expectations and best practices of the financial industry

Good understanding of the industry practice on operational risk management and controls

Ability to demonstrate CIBC’s core values (i.e., trust, teamwork and accountability)

Team player

Organized

Good conceptual thinker

A relationship builder

Ability to manage multiple projects and/or initiatives simultaneously under tight deadlines

CROSS-FUNCTIONAL RELATIONSHIPS​ ​ Internal relationships include: members within Global Operational Risk Management (GORM); risk associates from the second lines of defense (e.g., Compliance, Corporate Security, and Legal) groups in the region and across CIBC; Internal Audit and first line of defense representatives.​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

As a key contributor to the business unit, this job has the authority to recommend changes to business processes in order to enhance operational efficiency and effectiveness.

CONDUCT & CULTURE RISKOur 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 channelsidentified 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

CONDITIONS

This role operates within a normal office environment

Travel required: ​Occasional ​

California residents — your privacy rights regarding your actual or prospective employment (https://us.cibc.com/en/about-us/california-consumer-privacy-act-employment.html)At CIBC, our people are our greatest asset. You’ll become part of a diverse community that acknowledges everyone’s unique 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.

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, 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 LocationIL-120 S LaSalle StEmployment TypeRegularWeekly Hours40SkillsAnalytical Thinking, Control Frameworks, Decision Making, Group Problem Solving, Operation Risk Management, Risk Analytics, Risk Assessments, Risk GovernanceAt 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.