Job description
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
Job Description
The Operational Risk Portfolio Manager (PM) 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 PM provides oversight and effective challenge by working with business leaders in their respective portfolio in all aspects of operational risk management (process, people, and systems) and control framework and policy requirements. This includes advising the assigned lines of business in the identification, measurement, mitigation and monitoring of operational risk and providing effective challenge in their mitigation strategies/activities.
KEY ACCOUNTABILITIES
- Fulfill the role of CIBC’s second line of defense in the management of operational risk by challenging the business lines’ operational and control inputs and outputs. This is a key role in the three lines of defense model and it requires a deep understanding of the assigned business as well as the ability to challenge senior employees of the Bank in a constructive manner.
- Provide ongoing oversight and risk assessment of CIBC’s operational risk exposure through the facilitation and support of management’s use of various risk and control identification and assessment tools (i.e. external event reviews, incident reports, CIRAs, ORPs, etc.). The operational risk and control framework and policies 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. The role is expected to provide input into refining and improving the tools as part of a continuous improvement process.
- Provide and oversee independent challenge of business line processes, risks and controls (e.g. through portfolio reviews and other operational risk programs, processes and tools).
- Collaborate with the first line of businesses in the management, identification and reporting of issues, incidents and losses.
- Oversee Control and Deficiency Management. The role is also expected to encourage LOB identification and remediation of deficiencies and to ensure familiarity and appropriateness of new key controls and deficiencies and deactivation of redundant key controls. Proactively working with business leaders in identifying and challenging action plans in closing gaps/deficiencies and/or risk mitigation plans in minimizing CIBC’s risk exposures.
- Provide operational risk and control framework and policies related advice to business lines to enhance the management of operational risk and control, including advising on risk mitigation strategies.
- Proactively monitoring and reporting of emerging risks and external events and assessing the applicability and potential impacts to the portfolio. Collaborate with Enterprise Risk Management in the effective reporting of Risk Appetite Metrics. 8. Partnering with the internal stakeholders and Executive Team members on matters related to the overall strategic direction of the business.
- Staying current of regulatory changes and industry best practices in operational risk and control frameworks to ensure CIBC operational risk management meets regulatory expectations and is effective and efficient.
- Promote a ‘controls and operational risk culture’, which includes managing senior internal relationships to promote acceptance and implementation of operational risk and control framework/ policies and programs.
Qualifications:
- A master’s degree (preferably in business, economics or finance) or equivalent professional designation;
- 15-20 years of relevant work experience in financial industry is desired. Big bank experience or risk consulting exposure preferred;
- Excellent analytical, communication and interpersonal skills;
- Solid understanding of regulatory expectations and best practices of the financial industry and specifically for risk management;
- Good understanding of the industry best practices on operational risk management and controls;
- Ability to demonstrate CIBC’s core values (i.e., trust, teamwork and accountability);
- Reliable, Accountable and an Efficient Team player;
- Good conceptual thinker and ability to synthesize complex information into clear and precise business solutions;
- A relationship builder; and
- Ability to manage multiple projects and/or initiatives simultaneously under tight deadlines.
Our 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 channels identified 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
What you need to know
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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 contactMailbox.careers-carrieres@cibc.com
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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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CIBC is committed to doing our part to protect our team, our clients and our communities. We want to ensure we have a safe and healthy workplace, and we want to do our part to get through this pandemic. In keeping with this commitment, and as a condition of employment, CIBC requires all successful candidates to be fully vaccinated against COVID-19 as of their start date, or provide written proof of a medical exemption, or other substantiated accommodation request under applicable human rights legislation.
Job Location
IL-120 S LaSalle St
Employment Type
Regular
Weekly Hours
40
Skills
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