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
STRATEGIC BUSINESS UNIT DESCRIPTION
CIBC US provides tailored commercial and commercial real estate banking, private wealth management, personal and small business financial solutions, as well as cross-border banking services, to clients with North American operations.
At our core, we are a relationship bank and strive to build trusting and enduring relationships by putting our clients at the center of all we do. We invest in our businesses, our clients, our people and our communities.
Our US headquarters is in Chicago – and we have offices strategically located across the United States to serve clients coast to coast.
To be the best-in-class, commercial and wealth management financial institution in the United States with seamless connectivity to our Capital Markets and Canadian Commercial & Wealth franchises.
JOB PURPOSE
People management, underwriting and credit approvals, client onboarding/closing, client portfolio maintenance in a manner consistent with CIBC risk culture.
KEY ACCOUNTABILITIES
People Management (where applicable)
- Primary responsibility will be portfolio management and ensuring 1A risk management activities are executed in a manner consistent with CIBC risk culture.
- 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
- Jointly work with RM, Market Lead and Group Head and advise on deal structure, risk and resources
- Manage workflow and maintain an accurate pipeline of all opportunities in Salesforce, and ensure visibility to support teams
- Exercise credit approval authority (non-LPO) established for certain credit products (i.e. ACH limits, Corporate Card exposures and other products containing credit risk)
- Exercise non-credit approval authority up to approved limits
- Maintain client contact in performing responsibilities as needed
Client Onboarding/Closing
- Manage workflow / pipeline and ensure visibility to support teams
- Support efforts of the Deal Team (RM, PM, Commercial Banking Specialist) to ensure onboarding/closing client experience is optimized by acting as the escalation point to resolve issues
Client Portfolio Maintenance
- Expected to engage with RMs, PMs and Associates strategically to help address issues or roadblocks, and to ensure timely and proper execution of PM activities within their areas of coverage
- Technical review on all LP’s ensuring compliance with existing credit policies.
- Ensure reviews, renewals, and reporting are timely and oversee PMs to ensure risk ratings are accurate and reviews all loan presentations prior to submission
- Report past due status (e.g. R/A/G reports) to HPA
- Primary representative of Group in portfolio review meetings and will have knowledge of the risk points with the portfolio (portfolio concentration limits, portfolio mix, etc
- Sign off on pricing grid reviews and ensure past due tickler report items are remediated
- Attend Loan Committee meetings to support RMs/Market Leaders on behalf of Group Head and responsible for understanding potential risk
- Enhanced Oversight Officer (“EOO”) role on all transactions rated 5W and worse
- Sign off on quarterly SOX controls
- Support the Group to prepare for Credit Review or FRB/FDIC/OSFI exams
- Ensure team readiness for CAMP and quarterly trend card / review meeting including review of submission materials as well as Shared National credit exams
- Review all FAS 114 specific reserve / impairment materials prior to submission
- Coordinate manual data collection efforts (i.e. situations not automated / sourced from system)
- Has direct client contact in performing responsibilities as needed
Leadership and Team Mentoring, Training
- Directly manages all permanently placed Credit Analysts / Associates and all levels of PM, responsible for day-to-day oversight of a defined portfolio which may include coverage of multiple Teams / Groups; In some instances, may directly manage Sr. Commercial Credit Risk Managers on larger teams or where circumstances warrant
- Sets PM and Associates objectives and conducts annual performance reviews with input from Group Head; provides PM initial comp recommendations to Group Head
- Advise on credit actions related to the existing portfolio (e.g., structure, waivers, modifications and on portfolio trends to facilitate consistency in deal structuring
- Resource to Group Head on status and progress of opportunities in the approval queue and serves as the Group’s liaison with Credit
- Train PMs and Associates on latest policies, procedures, standards and regulations impacting underwriting and portfolio management activities such as:
o Advise on proper regulatory determinations (HVCRE, High Risk, Leveraged Lending, etc.)
o Advise PMs on all credit / non-credit topics (i.e. 1st point of contact) - Liaison / escalation point to Head of Portfolio Administration (“HPA”); directly interacts with Credit Risk re: client specific matters / credit approval requests
- The GPM II is expected to provide strategic direction on managing the assigned portfolio and will be the primary liaison for the team with Credit Risk
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.
- For People Managers: 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
- 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.
- For People Managers: 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.
CONDUCT & 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
KNOWLEDGE AND SKILLS
- College Degree / Business, Finance, Accounting, Real Estate, Economics preferred
- Minimum 10 years of related experience in underwriting, structuring, loan closing, documentation, and portfolio management
- Ability to provide strategic direction to the overall portfolio and may lead larger teams of PMs and GPMs
- Ability to prove credit expertise within a specific commercial banking industry or vertical
- Ability to foster and maintain commercial relationships with high level of competency
- Ability to identify risk within credit requests
- Proficient in Microsoft Office products with advanced knowledge financial analysis and modeling
- Expected to be well versed in all key systems, applications, and models used
- On-going learning within the industry to maintain current market knowledge
- Completion of Commercial Banking Training Program or equivalent
WORKING CONDITIONS
·This role operates within a normal office environment
- Travel required: Occasional
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $175,000.00 - $250,000.00 for the market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which may also include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s 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), Holidays and 401(k), in addition to other special perks reserved for our team members.
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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.
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-120 S LaSalle St
Employment Type
Regular
Weekly Hours
40
Skills
Analytical Thinking, Business Banking, Business Development, Client Service, Credit Risks, Financial Advising, Mergers and Acquisitions (M&A), Portfolio Management, Researching, Results-Oriented
