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

What You’ll 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 CIBC’s 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. You’ll have the flexibility to manage your work activities within a hybrid work arrangement where you’ll spend 3 days per week on-site, while other days will be remote.

How You’ll 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 methodologies, focusing 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 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.

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 Bank’s 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]]>

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