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- Ensure the organization's risk management policies and strategies
Senior Director, Operational Risk - Chicago, United States - Canadian Imperial Bank of Commerce
Description
Senior Director, Operational Risk page is loadedSenior Director, Operational Risk
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locations
Chicago, IL
time type
Full time
posted on
Posted Yesterday
job requisition id
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 visitSTRATEGIC
BUSINESS UNIT DESCRIPTION
CIBCis building a
relationship-oriented
bank for a modern world. Our role is to
maintain
an effective control environment and oversee the sound risk management of our bank, consistent with our Risk Appetite Statement. We help safeguard our reputation and brand while providing proactive advice and oversight of CIBC's compliance with regulatory requirements, including those related to consumer and in
vestor protection, sales practices, securities trading, and anti-money laundering.
JOB PURPOSE
As
the second line of defense, the
Senior Director,
US Operational Risk Management's primary purpose is to:
provide leadership in the deployment of operational risk management practices in US and input to tools and practices that analyze and report operational risks;
applicable regulations, rating agency standards, and strategic imperatives of the US Region and aligned with
CIBCGlobal practices;
Oversee all operational risk management activities in the US Region and
monitor
risk performance against the approved Risk Appetite;
Monitor and analyze risks within the Bank's business units and reports on these risks to the Head of US Operational and Enterprise Risk, the US CRO and Global Operational Risk Management and
CIBCExecutive Management; and
Chair or provide key inputs into the US Region's Operational Risk Committee and other risk committees as appropriate
KEY ACCOUNTABILITIES
Operational Risk Appetite
Lead the development of the Region's Operational Risk appetite by working with the Head of Operational and Enterprise Risk and other key stakeholders
Work with key stakeholders to determine/develop metrics used to
monitor
[Operational] Risk Appetite
Operational Risk Governance/Oversight
Ensure effective reporting to the US Region Operational Risk Committee by monitoring and reporting on key risks, issues, emerging
risks
and applicable Risk Appetite metrics and KRI's.
Work with key stakeholders to determine/develop key risk indicators for
monitoring
Operational Risks in various business units
Escalate top operational risks to the US CRO and Global executive management
Operational Risk Management Practices
Lead the implementation of the risk and control identification and assessment tools within the US region (
i.e.
external event reviews, incident reports, change initiative risk assessment (CIRA), Risk & Control Self Assessments, etc.). The operational risk and control framework tools are a key enabler of CIBC's operational risk program and as such, the proper application and oversight of the tools are an important part of
CIBCbeing able to manage and
monitor
its operational risks
Develop/
maintain
an Operational Loss monitoring program and ensure that associated losses are entered in Operational Risk System (ORS); report analysis,
findings
and risks to Executive Management
Provide input to
CIBCto support the periodic review
of the
US Region's Incentive Compensation Plans and program
Provide oversight and guidance to the US CIRA committee to ensure it
operates
in accordance with
the
CIBCCIRA process and program
Provide feedback/input on the continuous enhancements to the risk practices
Stay current with the regulatory requirements on operational risk management and emerging risk management practices
Portfolio Management
As a business partner to the US Region,
provide
value added operational risk advice including, but not limited to, conducting deep dive/risk reviews on selected
high risk
topics in the Region, review findings and recommendations with the business
As a second line of defense, provide effective independent challenge to the operational risk management activities in the business
Model Risk
Develop/
maintain
a Model Risk Management Program for the US Region
Facilitate model risk assessments with lines of business and Global Operational Risk Management
People Management
Set priorities for the US Operational Risk Management Team and provide leadership in achieving deliverables
Ensure competent staff is recruited,
retained
, developed, trained,
motivated
and rewarded fairly
Ensure roles and responsibilities of all team members are in line with business strategy and the team has role clarity
Manage performance by providing fair and
accurate
formal and informal feedback,
identify
and remove obstacles to performance and explain how performance expectations align with business priorities
Ensure compliance with policies, standards,
guidelines
and controls by applying the policies and controls fairly and consistently so employees understand what to expect
KNOWLEDGE AND SKILLS
Colle
ge
d
egree in a related area
Minimum 10 years' experience in Banking and Risk Management or related field
Familiar with a variety of risk management topics, concepts,
practices
and procedures
Prior
management/supervisory
experience
Excellent analytical, communication and interpersonal skills
Solid understanding of regulatory expectations and best practices of the financial industry
Good understanding of the industry practice on operational risk management and controls
Ability to
demonstrate
CIBC's core values (i.e., trust,
teamwork
and accountability)
Team player
Organized
Good conceptual thinker
A relationship builder
Ability to manage multiple projects and/or initiatives simultaneously under tight deadlines
CROSS-FUNCTIONAL RELATIONSHIPS
Internal relationships
include:
members within Global Operational Risk Management (GORM); risk associates from the second lines of defense (e.g., Compliance, Corporate Security, and Legal) groups in the region and across CIBC; Internal Audit and first line of defense representatives.
COMPLIANCE REQUIREMENTS
/RESPONSIBILITIES
As an employee of CIBC, the incumbent must
comply with
all applicable
CIBCand 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.
CONDUCT & CULTURE RISK
Our
CIBCrisk 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
CIBCCode of Conduct, as well as all applicable
CIBCpolicies, 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
CIBCCode 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
C
ONDITIONS
This role
operates
wit
hin a normal office environment
T
ravel required
:
Occasional
California residents — your privacy rights regarding your actual or prospective employment
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.
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.
Share in our collective success with a competitive salary, incentive pay, banking benefits, health benefits programs, retirement savings, and more.
CIBCOffers
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.
What you need to know
CIBCis 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-
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 LocationIL-120 S LaSalle St
Employment Type
Regular
Weekly Hours
40
Skills
Analytical Thinking, Control Frameworks, Decision Making, Group Problem Solving, Operation Risk Management, Risk Analytics, Risk Assessments, Risk Governance
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
CIBCstakeholders is driven by a business culture based on common values:
Trust, Teamwork and Accountability.
Working with
CIBCmakes 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.