Director, Market Risk Management - Fixed Income

Canadian Imperial Bank of Commerce; Toronto; Hybrid; CAD 120,000 - 160,000; Full time

Job summary

A major Canadian financial institution in Toronto is seeking a Director of Trading Market Risk Management. The role involves leading the risk management of global fixed income trading, mentoring teams, and ensuring adherence to key risk measures. Candidates should have over 5 years of experience in trading and risk management, particularly with interest rate derivatives. A degree in finance or related fields is required, along with strong analytical and decision-making skills.

Benefits

Competitive salary

Defined benefit pension plan

Employee share purchase plan

Wellbeing support

Recognition program

Qualifications

• Minimum 5 years of Trading and/or Risk Management experience for interest rate derivatives and fixed income securities.
• Advanced knowledge of Canadian and international interest rate derivatives markets is an asset.
• Ability to communicate complex information effectively.

Responsibilities

• Oversee the 2nd line of defense for global fixed income market risk.
• Mentor junior and senior market risk analysts.
• Coordinate risk management governance of market risk limits.

Skills

Analytical Thinking

Decision Making

Derivatives Markets

Regulatory Capital

Fixed Income Risk

Education

Degree in finance, mathematics, physics, engineering

Job description

What\'s you\'ll be doing

As the Director, Trading Market Risk Management, you have the mandate to support the Senior Director, Trading Market Risk Management on the ‘second line of defense’ governing the following areas of oversight in Global Fixed Income Trading Risk: Interest Rate Derivatives, Bond Trading, and Structured Rates Trading.

As the Director, Trading Market Risk Management, you will provide mentorship to the Capital Markets Risk Management (CMRM) Reporting and Analytics team, which covers portfolio based reporting and analytical insights for the broader Capital Markets trading businesses. Actively partner with Capital Markets trading desks, other CMRM Risk colleagues, core strategic business units (SBUs), and other infrastructure groups to produce key reports and metrics for senior leadership and regulators to measure and validate CIBC’s trading book risks – including regulatory measures such as FRTB Capital, VaR, Stressed VaR and non-regulatory measures such as Stress Testing, Global Portfolio Analysis and Profit and Loss (P&L) attribution.

In this role you will, among other duties, participate and co-ordinate the risk management governance of daily market risk limits, new trade analysis, assessment of back testing results, have signoff for new products, and ensure adherence to monthly and quarterly controls around regulatory risk measures.

At CIBC we enable the work environment most optimal for you to thrive in your role. You\'ll have the flexibility to manage your work activities within a hybrid work arrangement where you\'ll spend 2-3 days per week on-site, while other days will be remote.

How you\'ll succeed

• Leadership – You will take a leadership role in overseeing the 2nd line of defense for global fixed income market risk, ensuring adherence to controls, risk management principles and continued development of comprehensive processes to manage risk.

• Relationship building – You will work with individual traders, trading desk heads and infrastructure units to ensure their understanding and commitment to evolving risk management methodologies. This will include training and learning for infrastructure and trading colleagues on upcoming changes to market risk methodologies.

• Teamwork and partnership – You will actively co-ordinate the implementation of systems and processes for the measurement and monitoring of market risks in Capital Markets trading desks, and also globally.

• Talent development – You will take the initiative to mentor junior and senior market risk analysts and be instrumental in developing their market and risk management knowledge and practical skills.

Who you are

• You can demonstrate experience. Minimum 5 years of Trading and/or Risk Management experience for interest rate derivatives and fixed income securities including Interest Rate Options and complex products. A deep understanding of these markets, liquidity, risk management, pricing, hedging, and P&L attribution.

• It is an asset if you have advanced knowledge of the Canadian and international interest rate (IR) derivatives markets, including practical knowledge of our market rates and specialized products, as well as quantitative modelling experience and data driven approaches to risk management concepts. Knowledge of FRTB Capital Regulation, as well as CFA, FRM, PRM designation is an asset.

• You have a degree. You have a degree in finance, mathematics, physics, engineering and/or related discipline.

• You give meaning to data. You enjoy investigating complex problems and making sense of information. You communicate detailed information in a meaningful way.

• You are a caring and accountable leader. You have experience developing and implementing strategic team goals. You have experience coaching employees and inspiring successful team performance.

• You know that details matter. You notice things that others don\'t. Your critical thinking skills help to inform your decision making.

• Values matter to you. You bring your real self to work and you live our values – trust, teamwork and accountability.

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*, defined benefit pension plan*, an employee share purchase plan, 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 [e-mail]

• 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

Toronto-81 Bay, 29th Floor

Employment Type

Regular

Weekly Hours

37.5

Skills

Analytical Thinking, Basel III, Decision Making, Derivatives Markets, Finance, Fixed Income Derivatives, Fixed-Income Markets, Fixed Income Products, Fixed Income Risk, Fixed Income Valuation, Interest Rate Derivatives, Interest Rate Risk, Interest Rate Risk Analysis, Interest Rate Risk Management, Market Risk Analysis, Market Risk Management, Options Pricing, Regulatory Capital, Regulatory Requirements, Risk Management, Risk Management Framework, Trading Risk Management