Associate, Underwriting, Innovation Banking

Canadian Imperial Bank Of Commerce Boston , MA 02298

Posted 2 months ago

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 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.

To learn more about CIBC, please visit CIBC.com

Job Description

Business Description

CIBC is a leading Canadian-based financial institution with over 44,000 employees globally and annual revenue in excess of $12 billion. We're on a mission to build the relationship-focused bank of the future and we're looking for the passionate collaborators, innovators, advisors, and leaders who can get us there. Our distinct culture is built on a shared commitment to do what's right for our clients, our people, and our communities, and we strive for excellence in everything we do.

CIBC Commercial Banking Innovation Bankers provide strategic advice and funding to North American clients at each stage of their business cycle, from start up to IPO and beyond.

Job Purpose

As an Associate, Underwriting, you will be involved with all aspects of underwriting, managing and reporting on client accounts. Your role will include, regular monitoring of a portfolio of Innovation Banking loan accounts to ensure compliance with all agreed terms, analyzing due diligence results to validate lending eligibility, preparing credit applications and other credit correspondence, analyzing borrowers' financial condition and account status, actively assisting with the negotiating of legal documentation. You will also maintain ongoing relationships with an assigned portfolio of accounts. You will work closely with the sales team to develop your skills for a career path in business development.

Key Accountabilities

  • Client First
  • Proactively assess your clients' needs and propose solutions to deliver to meet those needs. Provide continued partnership and support to your clients through understanding there goals and objectives. Appropriately address borrowers' requests in a timely manner and ensure that any related credit applications are completed accurately and in a timely manner.
  • Credit Management
  • Assist the relationship manager to prepare strong financing proposals (structuring terms and conditions including security, covenants and pricing) that properly reflect and compensate CIBC for assessed risk. Prepare draft recommendations on credit submissions and investment proposals to present to senior management and take point on answering any questions or addressing comments. Lead comprehensive due diligence on all transactions, including negotiating credit legal documentation and preparing credit memoranda and other credit correspondence in a well thought out, thorough and efficient manner. Work with the Business Development team throughout the underwriting process for new transactions, complete credit correspondence, review documentation, set up reporting, etc.
  • Portfolio Management
  • Manage a portfolio of loan accounts while ensuring reporting requirements are met, financial covenant tests are completed, and comprehensive credit reviews are prepared and submitted to the risk group. Approve loan advances based on appropriate review and compliance of documents submitted by borrowers.
  • Management Reporting
  • Provide management with information on accounts, proactively report on problems or issues, complete reviews and present analysis on borrowers' financial condition.
  • Conduct daily business credit card underwriting to drive business growth and mitigate the credit risk.

Cross-Functional Relationships

  • Partners with trading, risk, origination and other teams across the firm to enhance CIBC's functional capabilities.

  • This job must effectively foster client and market relationships.

Compliance Requirements

  • As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.

Job Dimensions

  • Enterprise-wide, department, and team accountability

  • Responsibility for the US Region

Knowledge & Skills

  • Requires 3+ years of strong and direct experience in commercial credit analysis, commercial.

  • BS/BA Degree in Finance, Statistics, Math or Economics; MBA a plus, CFA a plus

  • The position requires deep expertise in commercial loan underwriting, particularly over small business portfolios.

  • The ability to conduct credit analysis to underwrite a business credit lines utilizing both traditional financial information and small business behavior characteristics is required.

  • Experience in underwriting small business credit is a plus.

  • Understanding the venture capital / start up ecosystem is a plus.

  • Must be able to work independently and quickly gain a thorough knowledge of CIBC's retail banking operations.

  • Must have strong organizational and time management skills, and excellent verbal, written, interpersonal communication, and facilitation skills to lead meetings or interviews with subject matter experts and other project contributors or stakeholders.

  • Must be able to collaborate with all related business partners internally and externally.

  • Prefer deep experience from a large financial institution that has credit product offering to small business.

  • Demonstrated expertise in commercial credit underwriting is required as is the ability to be consultative and influential on risk related decisions that could impact the long term health of the organization.

  • Software: Demonstrated proficiency working with computers and Microsoft Office applications (specifically, Outlook, Excel, Visio, Word, and PowerPoint).

  • Knowledge of SAS, SQL or other data management computer language is a plus but not required

Working Conditions

  • This role operates within a collaborative team-oriented environment with external client interaction and focus.

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.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

Job Location

NY-425 Lex Ave. 4th Floor

Employment Type

Regular

Weekly Hours

40

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Associate, Underwriting, Innovation Banking

Canadian Imperial Bank Of Commerce