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At CIBC, we embrace your strengths and your ambitions so you feel empowered at work. Our team members have what they need to make a meaningful impact and feel truly valued for who they are and what they contribute.
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Business Unit Description
Capital Markets Risk Management (CMRM) supports the Strategic Business Units (SBUs) in the measurement, monitoring and control of market, trading, operational and trading credit risks, maintaining consistent corporate governance standards, through a responsive and customer-oriented organization, which facilitates integrated decision-making.
What You'll Be Doing
The incumbent will, as his/her prime role, play an important part in ensuring that market risk for prime brokerage client portfolios and/or CIBC's trading desks is completely captured, quantified and controlled.
The role will include statistical modeling in a portfolio context, as well as ad hoc analysis of specific risks and transactions.
In addition, the candidate will be expected to participate in leading group-wide projects, contributing innovative thinking and an advanced analytical approach. The incumbent will require a good understanding both of the financial markets in general, and of the analytical principles underlying the pricing and risk management of complex derivatives. This position interfaces with traders, operations, financial control, audit, technology, middle office and other departments within CMRM.
How You'll Succeed
- Recommend appropriate risk limits and ensure processes are in place to monitor against limits. Review that the line of business activities fall within pre-established boundaries and expectations or concerns are escalated for management review.
- Provide accurate and timely measurement of all relevant credit exposure – at a transaction and counterparty portfolio level to help facilitate credit decisions.
- Assess complex PB, OTC, FX and Exchange Traded portfolios conducting stress, historical and scenario analysis calculations.
- Provide analysis and recommendations to address elevated exposures and limit breaches
- Monitor global macro market environment, reporting on the impact of market events on current portfolios
- Communicate technical, analytical and conceptual information regarding market measurement/methodology to various internal stakeholder throughout the organization on a daily and weekly basis
- Participate in regional and global risk projects to enhance our risk assessment and monitoring
- Assist in regulatory inquiries involving Prime Services risk and margin framework
This job collaborates with peers both inside and outside the work unit when identifying, discussing and resolving business issues related to the work area.
- Management in New York, and where appropriate in other centers
- Risk Management personnel in all locations
- Infrastructure personnel in New York & Toronto, and where appropriate in other centers
- As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.
- The Prime Brokerage Market Risk Manager operates with independence to measure and monitor market risks in the regional businesses for which he/she is responsible.
- As a subject matter expert, the Prime Brokerage Market Risk Manager may be called upon to contribute his/her expertise in related issues and discussions at both the SBU and Enterprise level.
Who You Are
Values matter to you. You bring your real self to work and you live our values – trust, teamwork and accountability.
You can demonstrate experience with:
- 3-5 years' of experience in Prime Brokerage Risk Management, Market Risk, or Counterparty Risk
- Knowledge of VAR and/or PFE methodologies
- Familiarity with methodologies for quantifying and analyzing market and credit risks and knowledge of exchange traded and OTC derivative products (FX, IR, Equities and Commodities).
- Prime Brokerage margin methodology knowledge preferred
- Demonstrated interest in markets and macro trends and the ability to assess impact on client portfolios
- Ability to communicate effectively with senior stakeholders and client facing personnel including Client Services, Sales and Relationship Management to communicate risk appetite.
- Undergraduate degree in a quantitative discipline preferred (Mathematics, Engineering or Computer Science)
- Highly proficient Excel skills as well as knowledge of Python, VBA, and/or other programming languages a plus.
- Good communication and writing skills sufficient to articulate ideas that involve interpretation, analysis and assessment of complex conceptual subjects
- Ability to effectively manage multiple projects of varying complexity simultaneously.
- You embrace and champion change. You'll continuously evolve your thinking and the way you work in order to deliver your best.
- Your influence makes an impact. You know that relationships and networks are essential to success. You inspire outcomes by making yourself heard.
- You're digitally savvy. You seek out innovative solutions and embrace evolving technologies. You can easily adapt to new tools and trends.
- You're driven by collective success. You know that collaboration can transform a good idea into a great one. You understand the power of an inclusive team that enjoys working together to create a shared vision.
- This role operates within a normal office environment with little exposure to adverse working conditions.
What CIBC Offers
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 at home
Connect: Work in a place where the right technology and infrastructure fosters 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 program, and employee share purchase plan
CIBC has a strategic growth initiative focused primarily in the U.S. and recently completed the ~US$5 billion acquisition of The PrivateBank, a publicly traded commercial bank, as well as the ~US$200 million acquisition of Geneva Advisors, a private wealth management company.
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 during the application or interview process, please contact Mailbox.email@example.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
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