CHIEF COMPLIANCE OFFICER, CIBC US PRIVATE WEALTH
Company: CIBC Bank
Location: New York
Posted on: October 12, 2024
|
|
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.comStrategic Business Unit
Description In support of CIBC's core purpose: to make our clients'
ambitions a reality, Risk Management is accountable for the
independent oversight of risk management inherent to CIBC's
transactions and activities. These risks include but are not
limited to ensuring effective processes are in place for the
identification, management, measurement, monitoring and control of
operational, reputation and legal, strategic, market, credit,
investment and liquidity risk, collectively "CIBC Risk", incurred
by CIBC's businesses, functional and corporate governance groups.
US Compliance delivers on the global Compliance mandate by
providing timely, proactive advice and independent second line
oversight to the US Capital Markets, US Commercial Banking and
Wealth Management lines of business. US Compliance supports these
lines of business by being proactive advisors, trusted specialists
and value-added partners. Together with the lines of business and
in line with CIBC's Risk Appetite Statement, US Compliance works to
identify, assess, manage and mitigate regulatory compliance risk to
protect CIBC's reputation and brand, while helping CIBC become a
strong, innovative and relationship-oriented bank for a modern
world.CIBC Private Wealth Management ("PWM") conducts an investment
advisory business, which primarily focuses on serving a select
group of wealthy individuals, families, foundations and endowments.
CIBC's US PWM business is conducted through three primary entities,
CIBC National Trust Company, N.A., an OCC licensed trust company,
CIBC Private Wealth Advisors, Inc., an SEC registered investment
advisor, and CIBC Delaware Trust Company, a limited purpose
Delaware trust company. - PWM has a national footprint in the U.S.,
with teams of wealth management professionals in 17 major cities. -
PWM is a wholly-owned subsidiary of CIBC (NYSE: CM), a leading
global financial institution based in Toronto, Ontario, Canada.What
You'll Be DoingThe PWM Chief Compliance Officer ("CCO") is
responsible for developing, implementing, and maintaining an
effective compliance program to address all relevant OCC, SEC,
Federal Reserve and Delaware regulatory requirements pertaining to
PWM's business units -The CCO will supervise a staff of Compliance
professionals - and will be a member of various PWM governance
committees (e.g., Trust Committee, Management Risk Committee, and
Operating Committee). - - - -How You'll SucceedThe PWM CCO must
have a thorough understanding of the Investment Advisers Act of
1940 and OCC and other banking-related regulations pertaining to a
trust company. - As part of the responsibility to implement and
maintain PWM's Compliance program, the PWM CCO will be accountable
for:Developing, implementing, and maintaining a comprehensive
compliance program to achieve compliance with SEC, OCC, and state
of Delaware rules and regulations;Working with the U.S. Chief
Compliance Officer and the Director of US Compliance Programs to
develop, implement and maintain a comprehensive compliance program
to achieve compliance with the Federal Reserve and Bank Holding
Company Act regulations;Demonstrating strategic thinking and
planning to address compliance issues associated with U.S. PWM's
increasingly growing platform;Exercising proactive and independent
judgment when providing advice to senior management;Supervising a
Compliance staff to ensure that the Compliance monitoring and
testing program is performed in a consistent and timely
manner;Developing and executing PWM's Annual Compliance
Plan;Conducting U.S. PWM's Compliance risk assessment;Establishing
and maintaining written policies and procedures designed to achieve
adherence with fiduciary, investment advisory, bank and securities
regulations and internal Compliance policies;Responding to
compliance related inquiries, questions and requests from business
personnel;Assessing, analyzing, and interpreting applicable rules
and regulations;Collaborating with U.S. Regulatory Affairs to
coordinate SEC, OCC, and Delaware examinations of the applicable US
PWM legal entities; serve as primary point of contact for any US
PWM internal audits and US Compliance Testing Team reviews of the
Compliance function;Preparing written responses to regulatory
inquiries and examinations;Delivering ongoing training and
education to business personnel about Compliance
matters;Collaborating on inter-departmental projects with business
unit partners.Representing CIBC on industry/regulatory committees
and managing regulatory investigationsEnsuring there is
satisfactory resolution to highly complex regulatory compliance
issues, typically with significant business unit implications, such
as resolution of deficiencies of gaps that may be identified.The
PWM CCO - will provide leadership and effective management of
business unit staff to influence employee commitment to the
organization, to the team, and to their job by;Setting appropriate
context when assigning work to ensure that individuals' roles
support the achievement of the business unit's priorities and
CIBC's overall goals;Building team and individual capabilities by
providing development opportunities such as job shadowing, special
projects, and training;Managing performance by providing fair and
accurate formal and informal feedback, identifying and removing
obstacles to performance and by explaining how performance
expectations align with business priorities;Creating a positive
work environment and being an effective role model by championing
CIBC's mission, vision and values;Ensuring compliance with
policies, standards, guidelines and controls by applying the
policies and controls fairly and consistently so employees
understand what to expect, and;Hiring the right people in the right
jobs to align individual capabilities with job requirements and
business unit goals.Who You AreStrong working knowledge of OCC and
SEC investment advisor regulations;10+ years asset management
Compliance experience, preferably with a SEC-registered advisor
and/or a trust companyEffective leadership skills with a proven
ability to effectively and clearly identify issues and communicate
findings to other members of the Compliance Department;Previous
experience as a CCO is a plusExcellent verbal and writing
skills;Ability to evaluate complex regulatory matters and provide
clear and insightful guidance to senior management and investment
management personnel;Strong interpersonal skills in order to
maintain working relationships with infrastructure support partners
and front office personnel;Strong organizational skills, including
the ability to prioritize and follow-up on key issues in a timely
manner;Ability to work effectively in a team environmentWorking
ConditionsHybrid (minimum of three days in office)At CIBC, we offer
a competitive total rewards package. This role has an expected
salary range of $235,000-$265,000 for the New York, NY & Chicago,
IL markets 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 OffersAt 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 conditionsWhat you need to knowCIBC 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.comYou 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 LocationNY-300 Madison Ave., 6th FloorEmployment
TypeRegularWeekly Hours40SkillsBanking, Business Operations,
Compliance Policies, Compliance Programs, Developing Others, Ensure
Compliance, Global Compliance, Leadership, Management Reporting,
People Management, Proactive Approach, Regulatory Compliance,
Regulatory Requirements, Relationship Management, Risk Assessments,
Risk Compliance, Risk Management, Risk Management and Mitigation,
Strategic, Strategic Advisory, Team DevelopmentSummaryLocation: New
York, NY; Chicago, ILType: Full time
Keywords: CIBC Bank, Westport , CHIEF COMPLIANCE OFFICER, CIBC US PRIVATE WEALTH, Executive , New York, Connecticut
Click
here to apply!
|