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
As the Head of Fiduciary Controls and Oversight, you are a fiduciary subject matter expert who will assist the Chief Fiduciary Officer (“CFO”) with the oversight of CIBC’s fiduciary activities. You will be responsible for assessing fiduciary activities across Private Wealth and assisting the CFO to develop, maintain and strengthen monitoring systems over fiduciary activities. You have deep operational experience, are familiar with trust accounting systems and have experience with operational, administration and control activities of a Trust Bank. Depending upon your experience, you may have management responsibilities.
How you'll succeed
Assist the CFO and members of the Fiduciary Administration Oversight Team in assessing fiduciary processes for completeness and adequacy. Enhance and develop controls to make sure processes are effective and working as designed.
Maintain and continuously strengthen monitoring systems over critical fiduciary activities. This will require understanding the trust accounting system (SEI) and identifying critical information to develop, design and report critical fiduciary activities to the CFO, members of the Fiduciary Administration Oversight Team, Relationship Managers and Bank committees responsible for the oversight of fiduciary activities. Articulate the results of this work and present it succinctly and comprehensively to personnel and committees.
Demonstrate superior understanding of the operational activities of a Trust Bank, including account opening, account closing, account maintenance, asset set-up, asset-maintenance, payment activity, disbursements, account coding, custody platforms and reconciliation activities.
Serve as a subject matter expert on trust accounting systems, custody activity, and operational activities.
Work closely with the Unique Asset Team and be familiar with fundamental unique asset administration responsibilities with unique assets.
Demonstrate understanding of, fundamental laws, rules and regulations that govern the fiduciary activities of a Trust Bank. For instance, 12.C.F.R.9 (“Reg 9”), OCC Handbooks, etc.
Interact with the Bank’s regulatory bodies, including but not limited to the Federal Reserve, the Office of the Comptroller of the Currency and the State of Delaware.
Effectively collaborate with the CFO, members of the Fiduciary Administration Oversight Team and other senior members of Private Wealth.
Who you are
You have a bachelor’s degree.
You have a minimum of 15 years of relevant experience, including at least 10 years in a Bank Trust Company. Operational experience, preferably with a Trust Bank within a large, complex financial institution catering to high-net worth and ultra high net-worth clients, is preferred.
You are familiar with fiduciary activities including personal trust administration, estate administration, individual retirement accounts, investment management accounts and custody accounts, as well as have fundamental experience with accounts where a Trust Bank acts as a fiduciary.
You have demonstrated experience with assets held in fiduciary accounts including manually priced assets and unique assets, such as real estate, closely held business and promissory notes.
It’s an asset if you possess experience working with Bank regulatory bodies.
Values matter to you. You bring your real self to work and you live our values - trust, teamwork, and accountability.
You're motivated by collective success. You know that teamwork can transform a good idea into a great one. You know that an inclusive team that enjoys working together can bring a vision to life
Your influence makes a difference. You know that relationships and networks are essential to success. You inspire outcomes by sharing your expertise.
You act like an owner. You thrive when you're empowered to take initiative, go above and beyond, and deliver results.
You look beyond the moment. You know what you do will make a difference today and tomorrow. You look for new opportunities to define what's possible.
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At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $190,000 - $230,000 for the New York 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 also may 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
NY-300 Madison Ave., 7th Floor
Employment Type
Regular
Weekly Hours
40
Skills
Analytical Thinking, Communication, Customer Experience (CX), Estate Accounts, Financial Advising, Group Problem Solving, Leadership, People Management, Power of Attorney (POA), Trust Services, Work Collaboratively
