Associate level Trading Credit Risk -Capital Markets RM','18000338','Regular','Regular','Full Time','Full Time','Risk Management','United States-New York-New York-300 Madison Ave 5th FL','','Jan 8, 2018','Jan 31, 2018','!*!Risk Management is led by the Senior Executive Vice-President and Chief Risk Officer and is accountable on matters relating to the independent oversight of the management of risks inherent to CIBC’s activities. These risks include but are not limited to ensuring that effective processes are in place for the identification, management, measurement, monitoring and control of operational, reputational and legal, market, credit, investment and liquidity risk, collectively “CIBC Risk”, incurred by CIBC’s retail and wholesale businesses, infrastructure and corporate governance groups.
Capital Markets Risk Management (CMRM) is responsible for the independent enterprise-wide oversight of the measurement, monitoring and control of market, trading credit, trading operational and insurance risks, maintaining corporate governance standards and practices in support of a risk profile consistent with CIBC’s risk appetite. In addition, CMRM provides support for the Strategic Business Units (SBUs) risk management needs through responsive and customer-oriented organization, which facilitates integrated decision-making.
As a Director, the incumbent will fulfill the mandate to ensure that all trading credit risks incurred in the CIBC’s US Capital Markets activities, namely, Treasury, FIC, Equities, and Commodities portfolios are properly identified, measured, reported and disclosed in a consistent manner. As part of a team that is the focal point of all credit related inquiries originating from the trading room, he/she will be a representative of the various credit groups that are required to measure, monitor and adjudicate trading room credit. He/she will champion the regional adjudication process with regards to counterparty credit matters and is responsible to ensure requests are handle in a timely manner and properly analyzed, that approvals and limits are properly reflected in the risk capture system and that credit excesses are managed in accordance with approved delegations under the capital markets risk management framework, policies and procedures.
In addition, the incumbent will be expected to participate in group-wide projects, contributing innovative thinking and an advanced analytical approach. This position interfaces with traders, operations, financial control, audit, technology, and other departments within Trading Credit Risk, Capital Markets Risk Management, and will form a key part of the team supporting the Head of Product and Transaction Analysis.
The incumbent has strong credit skills and background in capital markets activities and able to assess the credit worthiness of counterparts using cash flow, ratio and other market trend analyses active in fixed income, equity and banking products with a working knowledge of the relevant documentation, settlement systems and processes used in execution.
Adjudicates counterparty credit for an assigned client portfolio and regularly reviews for compliance through independent monitoring.
Monitors market conditions and news media continually for economic trends or adverse conditions that impact CIBC counterparts, credit exposure or business relationship and, upon becoming aware of an event, immediately informs the senior management team.
Collaborates with and is accountable for other members of the trading credit team to facilitate effective dissemination of accurate and timely risk information.
Opine on trading counterparts and set risk ratings and credit limits consist with guidelines and delegated authorities. This includes credit application reviews presented by relationship managers, testing for compliance with internal models to derive appropriate risk ratings and credit limits. It may also include review of a security or business initiative where credit approval is required and entails discussion of documentation, trade agreements or other documents that may lead to the identification of reputational, legal or financial risks that requires further investigation and resolution prior to approval.
Maintain credit files and/or written records of all credit correspondence and other related matters that indicate credit approval.
Monitor and report credit limit excesses, investigate breeches, escalate and clear on a daily basis. In some instances in consultation with the relevant parties, limit excesses may lead to the request for an incident report prepared by the business and Trading Operational Risk for escalation to senior management.
Participate in the audit process responding to questions raised by auditors and or regulators during the course of annual exams.
As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.','!*!KNOWLEDGE AND SKILLS
Assessment and judgment of credit matters, strong product knowledge and the flexibility to analyze varied business requests.
A graduate degree in quantitative finance or mathematics, or related discipline. A CFA/FRM/PRM designation is an asset, as is some knowledge of accounting principles.
Familiarity with methodologies for quantifying and analyzing market and credit risks and in depth knowledge of OTC derivatives products (FX, IR, Equities and Commodities).
Writing skills sufficient to prepare an analysis, and to communicate a business initiative in simple, concise easy to read language.
Ability to work within a matrix management environment.
Knowledge of trading floor business activities, trade support and operations with ability adapt to changing environments.
Ability to work under pressure and time constraints which sometimes requires one to provide direction to subordinates or to manage changing or conflicting priorities.
Strong people skills; the incumbent must demonstrate good interpersonal skills.
Professional integrity and ability to be a team player.
Strong credit skills and understanding of counterpart credit risk concepts.
Incumbent must have a minimum of 3yrs credit experience in a banking or broker dealer environment. ','Associate level Trading Credit Risk -Capital Markets RM
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