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
US Compliance delivers on the global Compliance mandate by providing timely, proactive advice and independent second line oversight to the US Capital Markets, US Commercial Banking and Wealth Management lines of business.US Compliance supports these lines of business by being proactive advisors, trusted specialists and value-added partners. Together with the lines of business and in line with CIBC’s Risk Appetite Statement, US Compliance works to identify, assess, manage and mitigate regulatory compliance risk to protect CIBC’s reputation and brand, while helping CIBC become a strong, innovative and relationship-oriented bank for a modern world.
The Fair & Responsible Banking (F&RB) Director will serve as the subject matter expert implementing CIBC’s US Region Fair & Responsible Banking Compliance Program reporting to the Chief Compliance Officer for CIBC Bank USA and CIBC Inc. The F&RB Director will develop strategies and scope compliance activities to assess, monitor and report on Fair Lending (FL) and Unfair, Deceptive, Abusive Acts or Practices (UDAAP) risks, and Community Reinvestment Act (CRA) performance, as well as serve as an advisor to management and staff on CRA, UDAAP, and FL laws and regulations, including the Fair Housing Act and the Equal Credit Opportunity Act.
KEY ACCOUNTABILITIES
- Fair & Responsible Banking Compliance Program:
- Service as subject matter expert and oversee the bank's compliance with all applicable fair & responsible banking federal, state, and local banking regulations (i.e., Equal Credit Opportunity Act (ECOA), Fair Housing Act (FHA), Fair Credit Reporting Act (FCRA), Military Lending Act (MLA), Servicesmembers Civil Relif Act (SCRA), Community Reinvestment Act (CRA), and Unfair, Deceptive, Abusive Acts or Practices (UDAAP)).
- Develop or maintain effective CRA, FL and UDAAP policies and procedures which are commensurate with the size and complexity of the organization and remain current and reflective of regulatory requirements and organizational processes.
- Monitor regulatory changes and collaborate with business units and infrastructure groups to implement new regulatory changes by providing guidance and support and effective challenge on projects and process enhancements.
- Perform risk assessment of Fair Lending regulatory requirements in accordance with the established methodology and facilitate the monitoring, reporting and management of those risks. Communicate risk assessment results to business partners.
- Develop strategies and assist with 2nd Line execution of monitoring of fair & responsible banking risks, including, statistical analyses, file reviews, and other monitoring activities. Provide oversight, guidance and effective challenge on First Line of defense’s or Governance & Controls’ monitoring activities.
- Review and effectively challenge compliance processes and risk monitoring in the first line of defense to evaluate and escalate any elevated risks or trends.
- Maintain awareness of regulatory compliance deficiencies and control testing results impacting controls related to fair & responsible banking requirements. Support first line in remediating of deficiencies.
- Prepare reporting for Executive Management and Board of Directors on applicable program components and metrics.
- Advisory and Operational Effectiveness
- Apply leadership skills and technical expertise to recommend, develop and execute the Fair & Responsible Banking Compliance Program.
- Develop and maintain relationships within CIBC and industry peers, participate in compliance industry associations and trade associations, and stay abreast of industry developments to support CIBC initiatives and compliance with applicable fair & responsible banking laws and regulations
- Keep senior management and business leaders apprised of applicable regulatory requirements and businesses’ state of compliance with those requirements
- Partner with business leaders and other stakeholders in the implementation of new initiatives, products and services to proactively build controls and processes
- Drive innovation across areas of responsibility, applying expert interpersonal, communication, and problem-solving skills.
- Leadership and People Management
- Exercise a high degree of independent judgement and apply leadership skills and technical expertise to execute the Fair & Responsible Banking Compliance Program.
- Provide leadership to the team in establishing operational objectives and work plans, overseeing the effective and efficient implementation of work products, process improvements and ensuring adherence with industry regulations, corporate policies, and standards of business ethics and conduct.
- Lead, mentor, and develop the F&RB compliance team, fostering a culture of continuous improvement and professional growth.
- Assist in the recruitment, training, and performance management of F&RB compliance staff, ensuring the team is adequately resourced to meet the bank's compliance needs.
KNOWLEDGE AND SKILLS
- Strong knowledge of all fair and responsible banking laws, regulations and guidance, including but not limited to Regulation B – Equal Credit Opportunity Act, Fair Housing Act, Home Mortgage Disclosure Act (HMDA), CRA, Unfair, Deceptive or Abusive Acts or Practices (UDAAP), Servicemembers’ Civil Relief Act (SCRA), Military Lending Act (MLA), and Vendor Risk Management.
- 15+ years’ experience in regulatory compliance, CRCM, and/or JD.
- Excellent interpersonal skills, including verbal and written communications, and leadership skills to develop members of the Fair and Responsible Banking team and overall Compliance Department.
- Ability to manage workload and shift priorities to meet deadlines in a dynamic and rapidly-changing environment.
- Effective people and project management skills to lead and contribute to projects and the Fair and Responsible Banking team.
- Strong research, analysis, problem-solving, and decision-making skills with ability to identify compliance risks and issues for escalation to management, as necessary.
- Advanced CRA Wiz, Word, Excel and PowerPoint skills.
At CIBC, our people are our greatest asset. You’ll become part of a diverse community that acknowledges everyone’s unique talents and empowers teams to do what’s right for the client and to do it well. As part of our team, you will:
- Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and home.
- Connect: Work in a place where the right technology and infrastructure foster innovation, collaboration, and creativity.
- Develop: Grow your skills and career through our best-in-class onboarding experience, ongoing learning opportunities, individual development planning, and comprehensive product training.
- Prosper: Share in our collective success with a competitive salary, incentive pay, banking benefits, health benefits programs, retirement savings, and more.
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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-70 W Madison St, 10th Fl
Employment Type
Regular
Weekly Hours
40
Skills
Advisory Services, Compliance Assessments, Leadership, Process Improvements, Regulatory Compliance, Risk Compliance, Software Testing Process, Strategic Objectives, Technical Knowledge
