Sr. Director, Trading Credit Risk

About this role

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 SD, Private Credit is accountable to the Senior Director, NBFI Trading, Trading Credit Risk for the overall management, leadership, oversight and performance of counterparty credit risk (CCR) function as it relates to Private Credit lending. This role will have oversight of Trading, Financing and/or Lending facilities for private credit counterparties. This accountability is to be achieved through the development and implementation of strategies, policies, procedures and practices designed to manage and control the counterparty credit approval process, credit quality targets and the general functioning and integration of the Credit groups. The incumbent has significant authority for the adjudication of credit facilities covering private credit funds under Non-bank Financials, and may also extend to other NBFI counterparties including some or all of Banks and Sovereigns, Central Clearing Counterparties (CCPs), Governments and Public Sectors. This is a critical function requiring a combination of credit skills, people skills, extensive practical experience and trading product knowledge. Partnership with the business heads at the most senior level is essential.  The designated portfolios cover regions globally in Canada, US, Europe & Asia Pacific.  Within the overall management responsibilities of the position, the incumbent interfaces with the Global Markets and Corporate Banking teams in Canada, US, Europe & Asia Pacific, as well as other areas within Risk Management and external auditors and regulators as required. The incumbent also provides (i) direction to senior CCR managers on accounts within their Delegated Approval Authority (DAA) (ii) authorizes accounts within the incumbent’s DAA, (iii) provides recommendations to the Senior Vice President or Executive Vice President  on accounts in excess of the incumbent’s DAA (iv) provides advice to the Bank’s senior executives on industry-related matters, and (v) works closely with line management counterparts concerning formulation and achievement of their business and financial plans.

How You’ll Succeed:

The Bank, through its Capital Markets business, incurs counterparty credit exposure to a broad range of entities, including hedge funds, funds/SPVs, pensions, insurance companies, brokers, banks, CCPs and sovereigns. A determining factor in the ability of any bank to raise capital and effectively serve its various constituents is the maintenance of a high standard of credit quality. CIBC is committed to the goal of maintaining such a high standard of credit quality while at the same time providing returns to shareholders that are recognized as being attractive for its industry.

The incumbent is responsible for achieving the above mentioned goal with respect to the designated portfolio through (a) recommendation, and upon approval, implementation of sound credit policies and practices; (b) excellent judgmental decision-making within their DAA; (c) effective management of higher risk or deteriorating credits (d) accumulation and communication of relevant industry knowledge; (e) informed direction provided to senior credit risk managers concerning accounts within the overall portfolio; and (f) assistance provided to the Senior Vice President and to line management counterparts in the identification and pursuit of opportunities, and identification and avoidance of excessive risks in managing the overall portfolio of assigned industries.

The incumbent is expected to take all necessary steps to become and remain an informed industry specialist with respect to the designated portfolio, particularly with regard to the factors influencing counterparty credit risk. The incumbent will participate in select external activities, such as client meetings and industry forums, which represent essential aspects of maintaining the required industry expertise.

The incumbent is also responsible for keeping the Senior Vice President and Credit Committee apprised of significant developments in industries within the designated portfolio, making written and oral presentations to Credit Committee concerning these developments, as required from time to time. The incumbent is responsible for ensuring that both senior risk managers and specialist line officers having responsibilities related to the designated portfolio are regularly provided with the incumbent’s analysis of the prevailing conditions of, and prospects for, the relevant industries: • Ensuring that risk ratings are objective, transparent and reflective of each transaction’s risk profile

• Ensure all aspects of the Bank’s Global Reputation and Legal Risk Policy are met

• Provide and be perceived as providing professional stewardship of the Bank’s credit risk and CCR analysis

• Provide quality service to all CIBC business units with respect to their management of the relevant credit risk and CCR portfolios

• Achieve and apply relevant effective industry expertise and industry forums

• Establish and recommend various product or client related credit policies which establish and shape the strategies of the various client businesses

• Provide expert input and assist in the development and maintenance of risk rating models

The incumbent will specifically cover the following :

To provide management, leadership, and responsibility for the management of counterparty credit risk and financing functions globally as it applies to NBFI-Private Credit. The department manages credit and counterparty credit risk on a large set of counterparties covering comp

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