Director, Portfolio Oversight & Administration Private, Personal & Digital Banking

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Strategic business unit description:

CIBC US Region focuses on deepening client relationships by delivering a full range of financial products and services to clients in the US. The group provides business strategy and integrated financial services to clients. Being in line with CIBC's core purpose: to help make our client's ambitions a reality, the CIBC US offer focuses on integrated relationship management, where Commercial, Wealth and Capital Market teams work together to deliver customized financial solutions. In addition, CIBC US also offers a full suite of solutions to clients in the Private, Personal and Digital Banking space.

Our Strategic Priorities

• Add new strategic relationships

• Build and deepen client relationships

• Increase referral activity across all lines of business

• Lead, Adhere and Exceed all risk awareness and standards

SCOPE AND RESPONSIBILITIES:

The Director's primary purpose is to ensure activities related to all first line of defense (1A) processes, procedures and policies are addressed consistently across Private, Personal & Digital Banking in accordance with CIBC's regulatory framework and risk culture. This position is responsible for the credit oversight (performance, underwriting, policies, reporting, etc.) along with the development, management & delivery of key client strategies from residential lending, marketable secured lending and partner programs (private equity to innovation banking), to ensure they meet and follow the strategic risk framework of CIBC. This role is predominately internal facing but is the accountable leader whose team provides consulting support to client facing employees through the close collaboration with the lines Head of Portfolio Administration along with the Group Portfolio Managers and their teams. Additionally, this role will provide leadership on a variety of transformational risk initiatives and changes across the business and coordinate these activities within the broader risk and business teams.

Specific Responsibilities:

The Director, Portfolio Oversight & Administration will be responsible for, but not limited to, the following (1) Credit Oversight & Administration, (2) Policies, Procedures & Reporting on Portfolio Performance and (3) Develop and lead the delivery of client solutions around residential lending, marketable secured lending & partner programs from private equity to innovation banking.

People/Team Management

• Key direct reports - (1) Head of Portfolio Administration, (2) Head of Diversified Client Oversight & Delivery, (3) Head of Policies, Procedures and reporting/analytics.(All roles will be accountable to CAO office on a dotted line basis)

• Set appropriate context when assigning work to ensure that individuals' roles support the achievement of the business unit's priorities and CIBC's overall goals

• Build team and individual capabilities by providing development opportunities such as job shadowing, special projects, and training

• Manage performance by providing fair and accurate formal and informal feedback, identifying and removing obstacles to performance and by explaining how performance expectations align with business priorities

• Create a positive work environment and being an effective role model by championing CIBC's mission, vision and values

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

• Hire the right people in the right jobs to align individual capabilities with job requirements and business unit goals

Underwriting/Credit Approval

• Review / advise on transactions presented to pre-screen by respective LOB(s). Responsible for raising and addressing issues with transactions in conflict with the bank's risk framework, tolerances and limits

• Exercise non-credit approval authority up to approved limits

• Exercise Level II (non-LPO) credit approval authority up to approved limits

• May hold additional credit approval authority for amendments and waivers (to be defined with Credit Risk Management)

• Stay current on industry/market conditions, ensuring policies, procedures, standards, and guidelines remain up to date and adjust or recommend changes to procedures and standards as appropriate.

Management Responsibility and Team Training

• Provides oversight and direction to all Sr. Credit Risk Managers and Directors, Credit Risk for all risk management responsibilities. Train Sr. Credit Risk Managers and Directors on latest policies, procedures, standards and regulations impacting underwriting and portfolio management activities. Responsible for the assigned teams functional expertise in managing risk within the portfolio

• Advise Group Portfolio Managers ("GPM") on all credit / non-credit topics (i.e. 1st point of contact)

• Covers / reports into a given secondary line of business ("LOB"), responsible for consistent execution of portfolio management and other risk management activities and focused day-to-day on portfolio level activities. Accountable executive along with the LOB President for the assigned portfolio

• Collaborates with Group Heads to set GPM objectives and provides input to annual performance reviews.

• Liaison / escalation point to CAO, Business Manager, and 1B Function

• Liaison / escalation point to Credit Risk Management (2nd LOD) primarily for portfolio level matters. Represents the assigned team in discussions with regulators and risk committees of the bank

• Assigned to special projects requiring LOB expertise

• Expert in all aspects of the credit life cycle (i.e. underwriting, loan presentations, closing, etc.)

Risk Management

• Responsible for LOB activities pertaining to limit management (RAS, non-RAS Credit, non-RAS Business)

• Escalate known / anticipated breaches of early warning indicator, management limit or board limits to the appropriate parties

• Present annual portfolio limit reviews, quarterly product risk statement/segment risk statement results, etc. as the accountable executive

• Primary contact on Credit Reviews and FRB/FDIC/OSFI exams (credit focused)

• Draft responses to Credit Reviews and FRB/FDIC/OSFI exams (credit focused)

• Accountable for remediation efforts tied to respective LOB(s)

• Monitor activity of Enhanced Oversight Officers to ensure timely execution of action plans, proper engagement by/with RM/PM etc.

• Represent LOB at CAMP and FAS 114 specific reserve / impairment meetings

• Prepare for, attend, and engage actively in Enterprise Risk Management risk identification challenge sessions and workshops to identify the material and emerging risks that stem from applicable line of business activities

• Respond to second line challenge of line of business risk identification and review and provide input to materials generated for risk identification processes (e.g. risk self-assessments, minutes, and decks)

• Respond to product risk statement and segment risk statement breaches

• Execute mitigation strategies and action plans identified during risk identification processes

• Contribute to the identification of key controls or design controls as appropriate

• Identify and escalate known issues or non-compliance with applicable policies/procedures to Governance & Controls teams (1Bs) and Independent Risk Management in accordance with relevant policies, as applicable

• Monitor policy and strategy execution, treatments and down-stream processes and ensure strong execution including monthly review of control reports, tracking and key performance metrics.

• Develop management action plans, working with Governance & Controls teams (1Bs), Independent Risk Management (as required per the applicable policies, procedures, standards, and guidelines), and Audit as needed

• Ensure issue remediation is sufficient, sustainable, and timely (in accordance with remediation plan/target date)

• Work with the applicable Governance & Controls Lead to review data incident reports and ensure information is captured accurately (including root cause, impact, and control analysis)

• Provide input to Governance & Controls teams (1Bs) or Internal Audit as needed to respond to Internal Audit reviews and findings

• Provide appropriate materials and submissions as needed to support the Governance & Controls teams (1Bs) and Independent Risk Management (incl. EAML) response to regulators and for routine continuous monitoring meetings with regulators

• Provide appropriate materials and submissions as needed to support regulatory filings

• Meet with regulators for periodic touchpoints and work with Regulatory Affairs as applicable as the accountable executive for the assigned portfolio

• Support planning and implementation of business adjustments to meet regulatory requirements

Cross-Function Relationships

• Build and maintain cross-functional partnerships and networks to contribute and drive strong execution around key business initiatives.

• Maintain strong partnerships with other business functions/units (i.e. Credit, Finance, Audit?)

Key SELECTION CRITERIA:

• Leader of team collaboration, communication, consensus and relationship building skills

• Ability to work in an environment requiring strong interaction and relationships across various groups including Risk Management, Legal, Finance etc.

• Strong organizational and leadership skills sufficient to motivate and influence a large and diverse group of individuals faced with significant organizational and procedural change, increasing competitive challenges and competing priorities

• Strong presentation, verbal and written communication skills combined with a style reflecting an entrepreneurial spirit and a passion for growth.

PEOPLE LEADERSHIP ACCOUNTABILITIES:

• Focus on collaboratively driving positive experience for clients and employees (Always professional, Radically Simple, Genuinely Caring)

• Hire the right people in the right jobs to align individual capabilities with job requirements and business unit goals.

• Build team and individual capabilities by providing development opportunities such as job shadowing, special projects, and training

• Manage performance by providing fair and accurate formal and informal feedback, identifying and removing obstacles to performance and by explaining 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

DECISION RIGHTS & AUTHORITIES:

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

• As a manager of people, this job must ensure all employees within the business unit comply with all applicable CIBC and Line of Business policies, standards, guidelines and control requirements.

CONDUCT AND CULTURE RISK:

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

WORKING CONDITIONS:

• In office required, flexible hybrid offered

• This role operates in a normal office environment.

• Travel is occasional, mainly to Chicago or New York

Experience:

• Bachelor's degree and 15+ years of banking experience is required

• Technology proficient with Microsoft applications (excel, power point, word)

• Easily adapts to change

• Knowledge of bank operations, accounting and finance, and credit

• Strong analytical & credit capabilities

• Works well with others, be able to influence opinions and make hard decisions

• Strong, effective communicator

• Strong leadership capabilities and someone who engenders trust

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 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

IL-120 S LaSalle St

Employment Type

Regular

Weekly Hours

40

Skills

Business Effectiveness, Business Processes, Critical Thinking, Customer Experience (CX), Customer Service, Leadership, Long Term Planning, Project Management, Relationship Management, Strategic Objectives