Sr. Manager, Hedge Accounting & Analytics

Canadian Imperial Bank of Commerce; Toronto; Hybrid; CAD 80,000 - 120,000; Full time

Job summary

An established industry player is seeking a Sr. Manager for hedge accounting to ensure financial reporting accuracy and compliance. This role involves leading initiatives, providing analytical insights, and collaborating with diverse teams across multiple locations. With a focus on innovation and continuous improvement, you will thrive in a dynamic environment that values your contributions and growth. Join a forward-thinking organization that prioritizes your professional development while offering a competitive salary and comprehensive benefits.

Benefits

Competitive salary

Incentive pay

Comprehensive benefits program

Defined benefit pension plan

Employee share purchase plan

Vacation

Wellbeing support

MomentMakers recognition program

Qualifications

• 7+ years of relevant experience in hedge accounting and financial analysis.
• Proficient in IFRS 9 and IAS 39 with strong analytical skills.

Responsibilities

• Oversee accuracy of financial reporting for hedge accounting programs.
• Lead hedge accounting initiatives and provide value-added analysis.

Skills

Analytical Thinking

Derivative Accounting

Financial Analysis

Financial Derivatives

Financial Reporting and Analysis

Group Problem Solving

IFRS

Reconciliations

Regulatory Requirements

Education

Degree in Accounting

CFA or CPA enrollment/completion

Master's program

Tools

Alteryx

Tableau

Microsoft Excel

VBA

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 Sr. Manager is responsible for overseeing the accuracy and integrity of the monthly, quarterly, and annual financial reporting for the Bank’s hedge accounting programs. In addition, the Sr. Manager is expected to lead and carry out hedge accounting initiatives, provide value-added analysis, and enhance/build disclosures, to ensure business objectives are delivered in compliance with governing regulations, internal policies, and procedures. The Sr. Manager can also be called on to provide hedge accounting advisory to support business partners or fellow Finance stakeholders (such as Product Control, Accounting, and CFO teams). The Sr. Manager will work closely with Finance stakeholders and other cross-functional groups to execute on this mandate.

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 1-3 days per week on-site, while other days will be remote.

How You’ll Succeed

1. Strategic and new initiatives – Provide subject matter expertise related to hedge accounting initiatives
2. Innovative – Lead the development of new reports, testing of new systems and/or processes to ensure accuracy and completeness
3. Problem solving - Investigate and resolve differences between the ledgers and the source systems to ensure accurate reporting
4. Teamwork – Work with various teams including Product Control, Regulatory Reporting, and business partners (Finance/Treasury) in Toronto, New York, Chicago, and London
5. Financial analysis - Prepare commentary and analyses for Finance to explain month-over-month and quarter-over-quarter fluctuations as well as month-end attestation packages to meet Finance and governance reporting requirements
6. Organization – Complete all tasks in a timely manner with impeccable attention to detail to meet deadlines

Who You Are

• You can demonstrate knowledge of hedge accounting policies and practices under IAS 39/IFRS 9. You are able to calculate or validate hedge accounting adjustments and effectiveness for designated relationships, perform analysis to understand causes and sources of ineffectiveness, and explain hedge accounting disclosure items under IFRS 7, Financial instrument disclosures. Prior experience with automation, process simplification, and proficiency with tools like Alteryx, Tableau, etc., is an asset. Advanced Microsoft Excel skills (pivot tables, vlookups, sumifs, etc.) are required, and coding or managing macros (VBA) would be advantageous.
• You have a degree in Accounting, Commerce, or Finance and/or 7+ years of relevant experience, along with enrollment or completion of a CFA, CPA, or Masters program.
• You're passionate about people. You value relationships, build trust through respect and authenticity, and thrive in diverse networks.
• You love to learn. You are eager to grow your knowledge and believe in continuous achievement.
• You act like an owner. You are empowered to lead, go above and beyond, and deliver results.
• Values matter to you. You bring your authentic self to work and live our core values of trust, teamwork, and accountability.

What CIBC Offers

We prioritize your goals and potential, offering a career-oriented environment. Benefits include a competitive salary, incentive pay, banking benefits, a comprehensive benefits program, a defined benefit pension plan, an employee share purchase plan, vacation, wellbeing support, and MomentMakers recognition program.

Our spaces and technology support collaboration and innovation, and initiatives like Purpose Day enable personal growth and development.

What you need to know

• We are committed to an inclusive environment. If you need accommodations, contact [e-mail]
• You must be legally eligible to work at the specified location(s) and possess valid work or study permits if applicable.
• The application process may include assessments and skills tests to better understand your capabilities and introduce you to our culture.

Job Details

Location: Toronto - 81 Bay, 26th Floor

Employment Type: Regular

Weekly Hours: 37.5

Skills: Analytical Thinking, Derivative Accounting, Financial Analysis, Financial Derivatives, Financial Reporting and Analysis, Group Problem Solving, IFRS, Reconciliations, Regulatory Requirements