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 incumbent will, as his/her prime role, play an important part in ensuring that market risk for CIBC’s global commodities trading desk is completely captured, quantified and controlled. The role will provide independent oversight of market risks for the products traded by the global commodities desk which includes energy (crude oil, natural gas), metals (precious, base), agriculture, commodity index and environmental products. The role will include ad-hoc analysis of specific risks and transactions.
In addition, the candidate will be expected to participate in leading group-wide projects, contributing innovative thinking and an advanced analytical approach. The incumbent will require a good understanding both financial markets in general as well as the analytical principles underlying the pricing and risk management of complex derivatives. This position interfaces with traders, treasury, operations, financial control, audit, technology, middle office and other departments within Capital Markets Risk Management (CMRM).
The nature of the role involves making timely decisions with respect to complex risk scenarios in a high stress, time sensitive trading room environment.
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
- Analyze and report on the risk profile of the commodities business, maintaining a continuous awareness of issues affecting the risk management of these markets.
- Recommend appropriate risk limits and ensure processes are in place to monitor against limits. Review that the line of business activities fall within pre-established boundaries and expectations or concerns are escalated for management review.
- Ensure the integrity of risk measurements and limit monitoring, resolve violations of market and credit risk limits and monitor linkage of trading P&L to risk appetite. Review market risk limits on an ongoing basis.
- Work with infrastructure partners in the onboarding of new products or initiatives, including risk assessment and capture.
- Work closely with different parts of CMRM to facilitate effective dissemination of timely and accurate market risk information to senior management.
- Work closely with technology and business support groups in ensuring continued development of comprehensive risk capture processes, taking a lead role in ensuring the integrity of market and risk data.
- Perform User Acceptance Testing for new initiatives in methodology changes, risk measures and new programs.
- Work closely with CMRM quantitative analysts to develop/enhance portfolio risk and stress test modeling.
- Monitor the global macro market environment, reporting on the impact of market events on current portfolios.
- Communicate technical, analytical and conceptual information regarding market measurement/methodology to various internal stakeholders throughout the organization.
Who You Are
- 5-10 years of practical risk management and/or trading experience in commodity markets, particularly in oil, gas, metals, power and environmental trading.
- Familiarity with methodologies for quantifying and analyzing market risks; good knowledge of relevant systems/programming issues.
- Knowledge of VaR and PFE methodologies.
- Familiarity with methodologies for quantifying and analyzing market and credit risks and knowledge of exchange traded and OTC derivative products and corresponding regulatory capital framework.
- Demonstrated interest in markets and macro trends and the ability to assess impacts on our portfolios.
- Strong interpersonal and communication skills with particular ability to translate technical complex issues for a variety of audiences. Excellent negotiation and mediation skills are highly desirable.
- Undergraduate degree in a quantitative discipline preferred (Mathematics, Engineering or Computer Science).
- Highly proficient Excel skills as well as knowledge of Python, VBA, and/or other programming languages a plus.
- Self-motivated and flexible approach. Strong attention to detail and ability to focus on macroscopic view. Able to work independently and as part of a team. Able to effectively manage multiple projects of varying complexity.
- Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability.
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $160,000 - $200,000 for the New York, NY 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 also may 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), Holidays, and 401(k), in addition to other special perks reserved for our team members.
Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.
What CIBC Offers
- 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 Mailbox.careers-carrieres@cibc.com.
- 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
TX-1001 Fannin St
Employment Type
Regular
Weekly Hours
40
Skills
Analytical Thinking, Decision Making, Long Term Planning, Market Risk Analysis, Market Risk Management, People Management, Regulatory Requirements, Risk Management Framework
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