US Operational Risk Manager - Capital Markets

Canadian Imperial Bank of Commerce; New York (NY); On-site; USD 135,000 - 175,000; Full time

Job summary

The Canadian Imperial Bank of Commerce is seeking a US Operational Risk Manager for Capital Markets in New York. This role is integral in overseeing operational risk frameworks and requires substantial experience in capital markets. The ideal candidate will have a strong understanding of regulatory practices and an ability to challenge and improve the company's risk management procedures.

Benefits

Medical, Dental, Vision Insurance

401(k) and Paid Time Off

Competitive salary and incentive pay

Qualifications

• 10 years of relevant work experience in the financial industry.
• Experience with large financial institutions and US Capital Markets.

Responsibilities

• Oversee operational risk management and provide effective challenge.
• Collaborate with senior business leaders and assess risk and control frameworks.

Skills

Analytical Thinking

Business Risks

Operational Risks

Control Frameworks

Risk Mitigation Strategies

Education

Bachelor's degree in business, economics, or finance

Job description

US Operational Risk Manager - Capital Markets page is loaded

US Operational Risk Manager - Capital Markets

Apply locations New York, NY Chicago, IL time type Full time posted on Posted 7 Days Ago time left to apply End Date: July 7, 2025 (19 days left to apply) job requisition id 2508172

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 Do

The US Operational Risk Manager - Capital Markets acts as a second line of defense in ensuring that the bank’s operational risk and control frameworks, policies, standards and procedures are understood and used effectively to manage operational risk. This Risk Manager also has capital markets experience and provides oversight and effective challenge by working with business leaders in their respective portfolio in all aspects of operational risk management (process, people, and systems) and control framework and policy requirements. This includes advising the assigned lines of business in the identification, measurement, mitigation and monitoring of operational risk and providing effective challenge in their mitigation strategies/activities.

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

The US Operational Risk Manager - Capital Markets will be responsible for, but not limited to the following activities:

• Fulfill the role of CIBC’s second line of defense in the management of operational risk by challenging the business lines’ operational and control inputs and outputs. This is a key role in the three lines of defense model and it requires a deep understanding of the assigned business as well as the ability to challenge senior employees of the Bank in a constructive manner.

• Provide ongoing oversight and risk assessment of CIBC’s operational risk exposure through the facilitation and support of management’s use of various risk and control identification and assessment tools (i.e. external event reviews, incident reports, change initiatives, risk and control self-assessments). The operational risk and control framework and policies tools are a key enabler of CIBC’s operational risk program and as such, the proper application and oversight of the tools are an important part of CIBC being able to manage and monitor its operational risks. The role is expected to provide input into refining and improving the tools as part of a continuous improvement process.

• Provide and oversee independent challenge of business line processes, risks and controls (e.g. through portfolio reviews and other operational risk programs, processes and tools).

• Collaborate with the first line of defense in the management, identification and reporting of issues, incidents and losses.

• Oversee Control and Deficiency Management. The role is also expected to encourage LOB identification and remediation of deficiencies and to ensure familiarity and appropriateness of new key controls and deficiencies and deactivation of redundant key controls. Proactively working with business leaders in identifying and challenging action plans in closing gaps/deficiencies and/or risk mitigation plans in minimizing CIBC’s risk exposures.

• Provide operational risk and control framework and policies related advice to the first line of defense to enhance the management of operational risk and control, including advising on risk mitigation strategies.

• Monitoring and reporting of emerging risks and external events and assessing the applicability and potential impacts to the portfolio. Collaborate with Enterprise Risk Management in the effective reporting of Risk Appetite Metrics.

• Partnering with the internal stakeholders and Executive Team members on matters related to the overall strategic direction of the business.

• Staying current of regulatory changes and industry leading practices in operational risk and control frameworks to ensure CIBC operational risk management meets regulatory expectations and is effective and efficient.

Who you are

• You have a Bachelor’s degree preferably in business, economics, or finance.

• You possess 10 years of relevant work experience in the financial industry is desired. Large Financial Institution or Large Foreign Banking Organization second line of defense experience is preferred, along with US Capital Markets experience.

• You are a Certified Enterprise Risk Professional.

• You portray excellent analytical, communication and interpersonal skills.

• You have solid understanding of regulatory expectations and leading practices of the financial industry specifically for risk management with an emphasis on operational risk management.

• You are a reliable, accountable, and efficient team player.

• You are effective at managing multiple initiatives and deliverables with various execution/completion timelines.

• You have the ability to demonstrate CIBC’s core values (e.g. trust, teamwork, and accountability).

At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $135,000K - $175,000K for the 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 may also 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), Holidaysand 401(k), in addition to other special perks reserved for our team members.

This position does not offer visa sponsorship.

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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 [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, 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

NY-300 Madison Ave., 6th Floor

Employment Type

Regular

Weekly Hours

40

Skills

Analytical Thinking, Business, Business Risks, Control Frameworks, Control Self Assessments, Emerging Risks, Key Control, Operational Risks, Operation Risk Management, Risk Management, Risk Mitigation Strategies

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At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.

Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.

Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.