Executive Director II, Head of U.S. Capital Markets Compliance_
New York
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 (ibc.com/en/about-cibc.html)
**Strategic Business Unit Description**
In support of CIBC’s core purpose: to make our clients’ ambitions a reality, Risk Management is accountable for the independent oversight of risk management inherent to CIBC’s transactions and activities. These risks include but are not limited to ensuring effective processes are in place for the identification, management, measurement, monitoring and control of operational, reputation and legal, strategic, market, credit, investment and liquidity risk, collectively “CIBC Risk”, incurred by CIBC’s businesses, functional and corporate governance groups. 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.
**What You’ll Be Doing**
The US Broker-Dealer Chief Compliance Officer (USBD CCO) and Head of US Capital Markets Compliance is responsible for overseeing CIBC’s US Capital Markets’ regulatory compliance program, including the SEC/FINRA registered broker-dealer. The USBD CCO is primarily responsible for: 1) administering CIBC’s policies and procedures relating to its US Capital Markets business, including as a US registered broker-dealer; (2) taking reasonable steps to ensure compliance with all SEC, FINRA, CFTC, NFA and all other relevant SRO regulatory rule requirements through proactive engagement and advisory services to CIBC’s US Capital Markets employees; 3) taking reasonable steps to ensure CIBC establishes, maintains and reviews written policies and supervisory procedures that are reasonably designed to ensure compliance; 4) taking reasonable steps to ensure noncompliance issues are effectively communicated to both senior management and regulatory staff and resolved; 5), collaborating with front office and Technology personnel on developing and implementing solutions to address regulatory requirements; 6) overseeing CIBC’s regulatory change management process, including identifying and addressing the regulatory aspects of new US and cross-border business initiatives and regulations; and 7) implementing an effective training program for US Capital Markets personnel, covering a wide range of rules and regulations which affect their daily business activities.
**How You’ll Succeed**
The USBD CCO and Head of US Capital Markets Compliance is primarily accountable for:
+ Overseeing CIBC’s US broker-dealer compliance program, which entails playing a lead role in the design and implementation of CIBC’s supervisory control system and second line monitoring program;
+ Leading a team of senior compliance officers who will assist the USBD CCO in managing CIBC’s regulatory compliance program, including, but not limited to,
+ providing proactive advisory services (Equities, Equity Derivatives, Prime Services, Fixed Income, Structured Products, Securitization, Global Credit Finance, Investment and Corporate Banking);
+ managing CIBC’s regulatory change management process;
+ maintaining policies and procedures,
+ delivering the annual FINRA 3120 and 3130 report,
+ evaluating and communicating regulatory changes to business partners,
+ conducting periodic training, and
+ responding to regulatory inquires , exams and audits;
• Participating and at times chairing key committees dedicated to CIBC’s US Capital Markets business;
• Steering discussions on emerging and known risks, as well as organic and inorganic business development opportunities;
• Acting as the lead liaison for all US broker-dealer specific regulatory exams and inquiries; and
• Designing and implementing risk assessments of CIBC’s US Capital Markets businesses, and to determine risk rating under CIBC’s Regulatory Compliance Management framework.
**Who You Are**
+ 20+ years of experience in Legal, Compliance and/or Regulatory space overseeing US registered broker-dealer;
+ Subject matter expertise on rules and regulations pertaining to SEC, FINRA, OCC and Options Exchange rule requirements;
+ Strong understanding of US Capital Markets business, including equities, equity derivatives, fixed income, prime services, corporate and investment banking and equity/debt capital markets;
+ Comprehensive understanding of portfolio margining and synthetic prime brokerage;
+ Strong understanding of U.S. regulatory landscape, with a familiarity to both securities, commodities and banking regulators.
+ Strong interpersonal skills in order to maintain working relationships with senior management and the business;
+ Excellent verbal and writing skills;
+ FINRA licences. Series 7 and 24 required.
**Working Conditions**
+ Has the flexibility to manage work activities within a hybrid work arrangement spending 3 days per week on-site, while other days will be remote.
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $240,000-$270,000 for the New York, 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.
Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.
**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 [email protected]
+ 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, French proficiency, 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., 6th Floor
**Employment Type**
Regular
**Weekly Hours**
40
**Skills**
Ensure Compliance, Leadership, Regulatory Compliance, Relationship Management, Risk Assessments, Risk Management and Mitigation, Strategic Advisory
At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.
Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.
Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.