Sr. Director, Payments Finance

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

Job summary

A major financial institution in Toronto is seeking a Senior Director for Finance in Payments, responsible for leading a financial planning team. The role involves providing strategic advice, financial analysis, and oversight for complex payment services. Candidates should have a strong background in financial concepts, experience in the payments industry, and proven leadership abilities. This position offers a supportive environment focused on employee development, with a commitment to inclusivity.

Benefits

Competitive salary

Incentive pay

Defined benefit pension plan

Employee share purchase plan

Wellbeing support

Qualifications

• Thorough understanding of the Payments business including Fintechs, B2B FX platforms, Cash Management and Trade/Supply Chain Financing.
• Advanced knowledge of finance practices, including accounting, planning, capital budgeting, and investment principles.
• Experience providing coaching and hands-on support to meet team goals.

Responsibilities

• Ensure accurate and timely financial and management reporting.
• Provide value-added analysis and recommendations regarding Payments financial performance.
• Develop statutory and/or management accounting policies and procedures.

Skills

Analytical Thinking

Business Banking

Critical Thinking

Deliverables Management

Financial Analysis

Financial Reporting and Analysis

Group Problem Solving

Leadership

Management Reporting

Project Management

Education

Degree in Business/Accounting or equivalent

Job description

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 Senior Director, Finance, Payments is accountable for providing leadership to the Payments Finance team in all aspects of financial planning, analysis, decision support and management/ Board reporting. The role will be supporting the Head of Payments and the executive team (comprising of business and regional leads) and is responsible for providing sound independent business advice and financial analysis (including resource implications) on business and strategic opportunities/challenges as well as regulatory changes to Payments Executives.

The services of this business are diverse and complex in scope and require extensive knowledge of the products, business, industry and the markets including regulatory and accounting rules. This includes having a good understanding of the B2B FX platforms and channels, Global Cash Management, Trade Finance and Corporate Deposits. It also encompasses sound knowledge of existing and upcoming changes to the capital, liquidity and other regulatory and accounting rules and working closely with senior Risk Management and Treasury executives in a fast paced environment.

This role also provides second line of defense oversight on deliverables produced by Controllership and Finance Operations for the accountable functions in Finance to ensure accurate, complete and timely accounting records and reports (statutory and regulatory) in accordance with IFRS accounting policies and regulations and the CIBC governance and control framework.

At CIBC we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.

How you’ll succeed

• Financial Leadership and Decision Support – Responsible to ensure accurate and timely financial and management reporting and analysis is provided to business leader and executives, including, proactively looking and implementing opportunities to improve timeliness of reporting, streamlining underlying processes, provide consistency of reporting across line of businesses and enhance integrity and quality of the reports and underlying information. Assist the CFO Capital Markets with the quarterly/annual business performance review process including reviewing business performance and Key Performance Indicators with the business executives. Provide continual insight and support on resource utilization (technology investment, headcount, funding contribution etc.) including helping business executives manage and optimize resources and make conscious decisions to maximize profitability per unit of constrained resource.
• Payments - Provide value-added analysis and recommendations regarding the financial performance of Payments business with regard to plans, actual results, forecasts, trends, future direction and external benchmarks, including weekly updates to Executive Committee, when necessary. Accountable for Payments annual and strategic financial planning process, including working with the Payments business leaders/executives to develop. Work with Payments leaders/executives to prepare and present annual strategic plan to the management committee, including ensuring appropriateness of key inputs and assumptions used in the development of the plan and assisting with presentation and communication of the plans to Senior Management, Board of Directors and external parties.
• Capital Markets - Provide analyses and recommendations in support of new strategic and tactical initiatives relating to Capital Markets. Lead and/or actively participate in special projects and strategic initiatives of Capital Markets.
• Research/Industry Knowledge - Directs projects or research studies to help business stay abreast current trends and developments in the industry and understand how level with our competitors. Proactively offer recommendations on strategic and/or business opportunities to the Capital Markets leaders/executives
• Governance and Control - Develops statutory and/or management accounting policies and procedures. Ensure document control procedures for all financial operations are in place. Liaise with required legislative bodies to ensure compliance obligations and to resolve or minimize contentious issues. Ensures the integrity, consistency and accuracy of financial standards and policies. Provide effective financial stewardship of the business, ensuring management understands and complies with practices and regulations pertaining to CIBC
• People Leadership - Motivate and lead the team including coaching and career guidance to Senior and Executive Directors in the team. Establish clear performance expectations and manages performance by providing value-added performance feedback. Build team and individual capabilities by providing development opportunities such as job shadowing, special projects, and training

Who you are

• You can demonstrate a thorough understanding of the Payments business including Fintechs, B2B FX platforms, Cash Management and Trade/Supply Chain Financing. In addition, you have advanced knowledge of the practices, procedures and principles in the field of finance including accounting, planning, capital budgeting, investment and reporting principles and practices sufficient to interpret and analyze high-level complex concepts and apply these in unique ways. Further, you have extensive working knowledge related to external financial and/or other industry, market, regulatory environment, client business practices and needs sufficient to interpret, analyze and creatively provide business recommendations.
• You have a degree in Business/Accounting and/or recognized professional accounting designation (MBA, CPA) or equivalent, along with extensive knowledge of the financial services industry.
• You are a caring and accountable leader. You’re passionate about developing and growing team members abilities. You have experience providing coaching and hands on support to meet team goals.
• You give meaning to data. You enjoy investigating complex problems and making sense of information. You communicate detailed information in a meaningful way.
• You’re goal oriented. You’re motivated by accomplishing your goals and delivering your best to make a difference.
• 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 contact [e-mail]
• CIBC is committed to clarity in our hiring process. All roles posted are opportunities we’re actively recruiting for, unless stated otherwise.
• 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 test (such as simulation, coding, French proficiency).
• We use artificial intelligence tools during the recruitment process. 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-161 Bay St., 9th

Employment Type

Regular

Weekly Hours

37.5

Skills

Analytical Thinking, Business Banking, Critical Thinking, Deliverables Management, Financial Analysis, Financial Reporting and Analysis, Group Problem Solving, Leadership, Management Reporting, Project Management