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 Fixed Income Compliance Officer is responsible for directing important advisory, training, surveillance and analytical functions to support CIBC’s US Compliance program. The Fixed Income Compliance Officer is primarily responsible for 1) advising CIBC’s Global Markets businesses, including, but not limited to, US Treasuries, Corporate Bonds, SSAs, EM, CMBS, ABS, CLOs, Structured Products, Securitization and DCM on SEC and FINRA rule requirements; 2) collaborating with Front Office and Technology personnel on developing and implementing solutions to address regulatory requirements; 3) identifying and addressing the regulatory aspects of new U.S. and cross-border business initiatives; 4) assisting with regulatory exams and audits; 5) developing and conducting training on specific rules and regulations which affect US Global Markets daily business activities; and 6) monitoring sales and trading activities to ensure compliance with CIBC policies and regulatory requirements.
How You’ll Succeed
The Fixed Income Compliance Officer is primarily accountable for:
- Providing ongoing Compliance advisory services on regulatory matters to personnel in Fixed Income (US Treasuries, Corporates, SSA, EM, CMBS/ABS, CLO), Securitization, Structured Products and DCM;
- Analyzing proposed/new rules as well as market and internal business developments to assess the overall impact on the Fixed Income, Securitized Credit and DCM businesses;
- Assisting with the design and implementation of CIBC’s US Broker-Dealer compliance program;
- Drafting and maintaining key policies and procedures relating to CIBC’s Global Markets businesses and FINRA and SEC rules;
- Assisting with the drafting of CIBC’s US Broker-Dealer Annual Chief Compliance Officer Report;
- Collaborating with Technology and front office personnel on the development and implementation of solutions to address existing and new regulatory requirements;
- Assisting the US Broker-Dealer CCO in coordinating U.S. regulatory exams, inquiries by regulators, and audits of Compliance by Internal Audit;
- Assisting in the preparation of written responses to regulatory exams and inquiries
- Performing risk assessments of U.S. regulatory requirement group topics to determine risk ratings under CIBC’s Regulatory Compliance Management framework;
- Performing electronic communications surveillance for certain lines of business to identify issues of potential regulatory concern;
- Assist in the monitoring the daily sales and trading activities of CIBC’s derivatives businesses to assess overall compliance with CFTC and SEC rules pertaining to swaps rules implemented under the Dodd-Frank Act;
- Conducting Compliance training on matters pertaining to FINRA and SEC rule requirements.
- Effectively challenging the business to align processes and controls with regulatory expectations and best practices.
- Representing CIBC in key industry association working groups (e.g. SIFMA, ISDA, FIA).
- Providing advisory services and performing periodic monitoring of U.S. broker-dealer trade reporting (TRACE, EBS) and daily sales and trading activities.
Cross-Functional Relationships
This job requires interaction with:
- Senior Line of Business staff members to inquire about issues of potential regulatory concern and to advise on compliance related matters
- Technology in order to continually evaluate and enhance systems to address specific regulatory requirements and surveillance reports to achieve optimal efficiency and ensure accurate criteria;
- Line of business staff to inquire about issues of potential regulatory concern and to advise on Compliance related matters;
- Infrastructure support groups (e.g., Finance and Operations) to collaborate on control issues;
- U.S. Legal to seek interpretive guidance on technical regulatory requirements; and
- U.S. regulators and CIBC Internal Audit staff during regulatory exams and audits
Compliance Requirements/Responsibilities
- As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls;
- As a Compliance Officer, this job is accountable for reviewing the work of others in the business unit to ensure adherence with all CIBC and LOB governance requirements;
- As an employee of CIBC, the incumbent must complete all annual training requirements
Authorities/Decision Rights
As a key contributor to Compliance, this job has,
- the authority to recommend changes to U.S. policies and procedures to ensure that relevant regulatory requirements are properly documented and processes are developed and implemented done in the most effective and efficient manner to achieve regulatory compliance;
- the authority to represent Compliance on internal projects relating to the development and implementation of trading and trade reporting systems for derivatives and related cash products;
Who You Are
Values matter to you. You bring your real self to work and you live our values – trust, teamwork and accountability.
You can demonstrate experience with:
- 4-year undergraduate degree;
- Minimum 10+ years of Fixed Income compliance experience;
- Experience in providing regulatory or compliance advice in connection with Fixed Income sales and trading, DCM and securitized credit;
- Understanding of U.S. regulatory landscape with respect to Fixed Income sales and trading;
- Ability to evaluate complex regulatory matters and provide clear and insightful guidance to senior management and trading personnel;
- Ability to manage Compliance technology projects;
- Ability to develop and maintain automated exception based surveillance reports
- Strong interpersonal skills in order to maintain working relationships;
- Excellent verbal and writing skills;
- Series 7 (Series 24, 55 and 82 licenses are a plus)
- You embrace and champion change. You'll continuously evolve your thinking and the way you work in order to deliver your best.
- Your influence makes an impact. You know that relationships and networks are essential to success. You inspire outcomes by making yourself heard.
- You’re digitally savvy. You seek out innovative solutions and embrace evolving technologies. You can easily adapt to new tools and trends.
- You're driven by collective success. You know that collaboration can transform a good idea into a great one. You understand the power of an inclusive team that enjoys working together to create a shared vision.
Conduct and Culture Risk
Our CIBC risk 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 CIBC Code of Conduct, as well as all applicable CIBC policies, 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 CIBC Code 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, and where applicable, assist in the resolution of same
- 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
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $180,000 - $225,000 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 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.
Job Location
NY-300 Madison Ave., 6th Floor
Employment Type
Regular
Weekly Hours
40
Skills
Accountability, Accountability, Advisory Services, Business, Business Initiatives, Collaboration, Company Policies, Compliance Assessments, Compliance Programs, Corporate Ethics, Ethics, Executive Leadership, Fixed Income Investments, Global Market, Hiring, Problem Solving, Regulatory Compliance, Regulatory Compliance Consulting, Regulatory Requirements, Relationship Building, Relationship Management, Risk Appetite, Risk Assessments, Risk Compliance, Risk Culture {+ 3 more}
