Head of Portfolio Oversight, US Operational Risk Management
Head of Portfolio Oversight, US Operational Risk Management
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$ 225000 - 255000
1 Vacancy
Job Description
Were building a relationship-oriented bank for the modern world. We need talented passionate professionals who are dedicated to doing whats 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
What Youll Be Doing
The Head of Portfolio Oversight US Operational Risk Management is accountable for supporting the VP Head of US ORM in the following oversight activities:
- Identification and assessment measurement control and monitoring of operational risk in a dynamic and continuous manner.
- In partnership with other leaders developing and enhancing CIBCs US operational risk management program.
- Provide oversight and effective challenge of operational risk and control activities.
- Executing monitoring testing and oversight mechanisms for compliance with the policy and program standards.
The scope of this mandate includes all Combined US Operations including Commercial Banking Commercial Real Estate Private Wealth Private Personal and Digital Banking Capital Markets and supporting infrastructure teams including Technology Infrastructure & Innovation.
At CIBC we enable the work environment most optimal for you to thrive in your role. Youll have the flexibility to manage your work activities within a hybrid work arrangement where youll spend 3 days per week on-site while other days will be remote.
How Youll Succeed
KEY ACCOUNTABILITIES
Risk Assessment Program
- Execute on risk assessment programs including the Risk & Control Self-Assessments from a second line perspective. The scope of this mandate includes all lines of business and infrastructure teams operating in the Combined US Operations.
- Execute on oversight accountabilities related to Change Initiative Risk Assessments (CIRAs).
- Participate in other risk assessment programs as required such as Risk Identification and Regulatory Compliance Risk Assessment. The incumbent will coordinate with other ORM leaders to provide input on execution of the aforementioned risk assessments.
Additional ORM Accountabilities
- Execute on the US Operational Risk Management program as outlined in the various guidance. Accountabilities including tracking and oversight of deficiencies incident reports external event reviews among other program elements.
- Oversee second line ORM testing team in their testing program of the first line activities.
- Collaborate with other partners to address internal audit and regulatory interactions in an effort to proactively and continuously enhance the program with specific accountability of execution.
Policies and Standards
- In coordination with other leaders support the development review and maintenance of the applicable policies associated standards procedures and methodologiesfocusing on establishing a sound and effective risk practice in the US.
- Support team and first line in understanding program requirements so that execution of activities are performed in a quality and timely manner.
- Monitor the regulatory business and competitive environment to ensure CIBC remains abreast of changes and emerging/leading industry practices.
Governance Committee Oversight
- Participate as a key leader in governance committees including CIRA Committees as well as enterprise forums with Toronto based counterparts.
- Participate in first line forums and committees in a leadership capacity representing US Operational Risk Management from an oversight and execution perspective. The incumbent will bring in and engage other Operational Risk Management colleagues (e.g. fraud third party technology etc.) as required to bring a fulsome view of risk in the challenge of oversight of first line activities.
Risk Management Support
- Provide leadership and support around operational risk issues and program development.
- Provide effective challenge to both first and second lines as it relates to operational risks and develop mitigation techniques.
- Support reporting to senior management governance committees and the Risk Committees of the Boards on operational risks trends issues and mitigation strategies/plan.
- Monitor RAS and non-RAS KRIs applicable to area of coverage.
Conduct and Risk Culture
Our CIBC risk culture is based on employees striving to exceed the expectations of ourselves and our leaderships 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 Banks 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 CIBCs 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 CIBCs reputation as a leading financial institution.
People/Talent Management
- Ensure competent staff are recruited retained developed trained motivated and rewarded fairly.
- Ensure roles and responsibilities of all team members are in line with the Banks purpose strategy business strategy and the team has role clarity.
- Network with the objective of ongoing identification of potential candidates to support succession planning.
- 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.
CROSS-FUNCTIONAL RELATIONSHIPS
The job will facilitate cross-functional team work as well as participate in cross-functional teams to support initiatives from other groups outside of ORM and Risk Management. Regular interactions include:
- Team members across Risk Management
- Business units
- Oversight/governance functions
- Regulators
- Internal Audit
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.
- 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 controls.
AUTHORITIES/DECISION RIGHTS
- This job has the authority to recommend changes to business processes in order to enhance oversight operational efficiency and effectiveness.
- As a manager of people this job has the authority to assign tasks to employees within their span of control select individuals for hire assess individual performance make employee compensation decisions and take disciplinary measures up to and including termination.
JOB DIMENSIONS
- The role contributes to CIBCs commitment to being a leader in corporate governance embracing the evolving environment of transparency and internal control.
Who You Are
KNOWLEDGE AND SKILLS
- Bachelors or Masters degree
- 10-15 years industry-related experience; strong understanding of the US Banking Industry (issues etc.)
- Strong working knowledge of trends across the financial services industry
- Understanding of CIBC lines of business and support functions across the Combined US Operations.
- Excellent leadership and business planning skills.
- Excellent communications skills (written and verbal)
- Excellent relationship building skills to establish key relationships within lines of business and other business partners including governance and oversight functions
- Strong knowledge of regulatory requirements
- Problem solving skills sufficient to creatively develop unique approaches and solutions necessary to resolve high level complex and often unprecedented issues
WORKING CONDITIONS
- The role operates within a normal office environment with minimal risk of ill-heath or injury. Work pressures caused by tight deadlines can be significant at times
California residents your privacy rights regarding your actual or prospective employment
At CIBC we offer a competitive total rewards package. This role has an expected salary range of $225000 - $255000 for the market based on experience qualifications and location of the position. The successful candidate may be eligible to participate in the relevant business units incentive compensation plan which may also include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employees needs; including Medical Dental Vision Health Savings Account Life Insurance Disability and Other Insurance Plans Paid Time Off (including Sick Leave Parental Leave and Vacation) Holidaysand 401(k) in addition to other special perks reserved for our team members.
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
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 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 Location
IL-70 W Madison St 9th FlEmployment Type
RegularWeekly Hours
40Skills
Analytical Thinking Continuous Improvement Techniques Emerging Risks Group Problem Solving Leadership Operation Risk Management Predictive Modeling Regulatory Requirements Risk Analytics Risk Management FrameworkRequired Experience:
Director
Employment Type
Full-Time
