Executive Director, Senior Counsel - Legal
Executive Director, Senior Counsel - Legal
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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
STRATEGIC BUSINESS UNIT DESCRIPTION
The Administration Division comprises Legal Corporate Secretary Complaints Management Program Client Complaint Handling Environmental Social and Governance Government Relations Internal Audit and Transformation & Operational Excellence.
Legal is responsible for providing legal support to assist CIBC in meeting its goals and effectively managing legal outcomes by providing independent legal advice as well as related transactional regulatory and litigation support to business management across all lines of CIBCs business globally. CIBC Legal has a four part mandate:
- Advocacy Representing the institutional interests of CIBC in commercial negotiations litigation and regulatory proceedings;
- Informing Business Decisions - Providing timely judgment-based legal advice that facilitates informed risk-based decision-making by business management;
- Governance - Supporting CIBCs corporate governance risk management and internal control framework; and
- Efficiency - Assisting business management in optimizing legal costs.
CIBCs internal lawyers identify legal risks provide actionable solution-oriented advice to mitigate those risks and work closely with their business partners to achieve favorable legal outcomes.
JOB PURPOSE
This position functions as the legal counsel supporting CIBCs Alternative Solutions Group (ASG) in providing services outside of Canada part of CIBC Capital Markets Global Markets business unit.
CIBCs Global Markets business focuses on delivering expert financial and economic analysis and savvy deal-making capabilitiesto clients in Canada and around the world. The Global Markets team supports fixed income foreign exchange commodities derivatives equities and growth markets and is focused on building a strong innovative relationship-oriented bank.
Within CIBC Global Markets the ASG team specializes in developing innovative technology-driven capital markets solutions. This unique group combines the agility and innovative spirit of a FinTech startup with the financial strength and governance protocols of a major financial institution. ASG is recognized as a global leader in providing disruptive technological solutions across various product areas including Cross Border Payments Dynamic Currency Conversion and Foreign Cash white labeling. Our diverse client base includes some of the largest banks in the world corporations and CIBCs retail clients.
ASG business activities are primarily conducted by the Canadian Imperial Bank of Commerce with locally licensed activities being performed by CIBCs regional subsidiaries and registered branches.
The overall purpose of the job is to provide advice regarding legal matters with the objective of helping business leaders achieve business goals in a manner consistent with sound risk management. Legal counsel negotiates commercial agreements provides legal advice on transactional regulatory matters and provides oversight to external counsel.
KEY ACCOUNTABILITIES
Value Added Partner
- Fulfill commitments embodied in the Legal Department mandate in relation to the Alternative Solutions Group.
Cross-Border Transaction Support and Regulatory Guidance
- Support line manager as needed for the purposes of supporting the Alternative Solutions Group internationally either directly or through external counsel acting under your oversight.
- The role may be based in Toronto New York or London and reporting lines will be determined based on the location of the candidate.
- Providing proactive and strategic legal support to the Alternative Solutions Group (ASG) to provide services on a cross border basis internationally including supporting jurisdictional regulatory and legal reviews for new jurisdictions updating regional regulatory and legal advice as required and providing transaction specific legal advice in support of all contract negotiation overseeing external counsel engagement (where necessary).
- Partnering with Capital Markets Legal in Canada supporting ASG to ensure consistency and efficient operationalization of advice to the extent required and desirable to achieve ASGs business objectives and maintain sound risk management.
- Supporting ASG in engagement with regional stakeholders to ensure regional oversight and corporate governance processes are completed including supporting local approvals processes where regional CIBC group entities or offices are engaged in the provision of ASG services.
- Attend as the representative for Legal all regional governance and deals committees related to the Alternative Solutions Group business activities outside of Canada
- Act as a value added partner for ASG business activities outside of Canada to:
- Provide legal advice in the early stages of business managements strategy development and key decisions supporting business leaders to achieve business goals in a manner consistent with sound risk management; and
- Provide legal guidance in relation to business plans and help to ensure proper implementation of those plans consistent with legal and regulatory objectives.
- Facilitate adequate management MI/trackers across all aspects of legal coverage and responsibilities for ASG to ensure activity is tracked assessed and reported on.
Internal and External Business Development/Client Service
- Monitor legal and regulatory changes in the relevant jurisdictions to assess the impact on relevant lines of business and identify new business opportunities and/or regulatory risks.
Risk Management
- Identify legal risks and significant incidents of non-compliance and escalate these to global Legal team and senior management of the relevant region ensuring such risks are properly understood. Where possible propose appropriate risk mitigation.
Operational/Business Effectiveness
- Ensure that solutions are tailored to meet operational as well as regulatory requirements. Requires ongoing coordination among multiple functional groups and executive management and cross-border deals committees and a solid working knowledge of the financial operational and technology specifications supporting a product or service. This is particularly important with regard to the firms trading and transactional businesses and the banks strategic initiatives in the regions.
Product/Services Development and Implementation
- Day to day technical coverage involving statutory case law and regulatory interpretation and advice; deal/transaction-specific legal support and provision of legal opinions to clients/third parties; contract and new product review.
CROSS-FUNCTIONAL RELATIONSHIPS
Frequent contact with business and regional management to identify and discuss business issues and needs and to provide consistent and time-sensitive advice.
Regular contact with industry peers both individually and through industry associations to discuss emerging concepts practices and experiences and to strategize on approaches to proposed regulatory actions.
Regular contact with local counsel throughout the regions to ensure clear advice manage costs and keep abreast of legal and regulatory reforms regionally.
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.
AUTHORITIES/DECISION RIGHTS
- As a key contributor to the business unit this job has the authority to recommend changes to business processes in order to enhance operational efficiency and effectiveness.
KNOWLEDGE AND SKILLS
- Qualified to practice law in Ontario New York England & Wales or the EU.
- Not less than 5-8 years of post-call practice experience. Previous in-house experience preferred.
- Solid technical knowledge of banking laws and regulations and laws relating to the provision of payment services in the jurisdiction of admission.
- Knowledge of legal and regulatory frameworks relating to the provision of payment services and financial services on a cross border basis sufficient to identify issues and retain appropriately qualified local counsel to advise on local regulatory and legal requirements applicable to cross-border deals.
- Experience negotiating contractual arrangements with institutional counterparties across multiple jurisdictions ensuring consistency and compliance with local law.
- Knowledge of the regulatory framework affecting a credit institution operating via locally registered branches or locally authorized credit institutions or willingness to expend the effort and time required to learn same.
- Problem solving skills sufficient to maximize the solutions available within a given regulatory context.
- Knowledge of CIBCs global practices procedures and policies sufficient to interpret and analyze complex concepts and apply in an innovative way to a diverse array of products and services.
- Ability to effectively manage cost constraints and need for cost-effective solutions (e.g. cost control/reduction initiatives such as keeping legal projects in-house; rigorous use of approved law firms with rebated fees).
- Advanced communication skills sufficient to effectively deliver the message within an appropriate legal framework without sacrificing creativity or subtlety.
- Influential skills sufficient to shape the decision-making process in situations where there may be a natural resistance to the advice.
WORKING CONDITIONS
This role operates within a normal office environment.
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
Job Location
150 Cheapside London UKEmployment Type
RegularWeekly Hours
35Skills
Analytical Thinking Analytical Thinking Business Business Contracts Business Decisions Business Effectiveness Business Management Business Negotiations Business Objectives Business Opportunities Business Policies Business Transactions Capital Markets Client Base Client Service Commercial Agreements Communication Compliance Requirements Contract Negotiations Control Frameworks Corporate Governance Cost Controls Cost Effectiveness Analysis Cost Efficiency Cost Management 45 moreRequired Experience:
Director
Employment Type
Full-Time
