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Executive Director and Team Leader
Canadian Imperial Bank of Commerce
New York, NY, United States
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Description
BUSINESS UNIT DESCRIPTION
CIBC is a leading Canadian-based financial institution with over 44,000 employees globally and annual revenue in excess of $12 billion. CIBC Capital Markets is the Wholesale arm of CIBC, which provides a wide range of investment banking, global markets, credit, and research products and services to government, institutional, corporate and retail clients in North America and in key markets around the world. CIBC Capital Markets employees work in highly disciplined cross-functional teams to leverage industry knowledge and deliver innovative capital solutions and advisory expertise across a wide range of sectors.
CIBC has a strategic growth initiative focused primarily in the U.S. and recently completed the ~US$5 billion acquisition of The PrivateBank, a publicly traded commercial bank, as well as the ~US$200 million acquisition of Geneva Advisors, a private wealth management company.
JOB PURPOSE
Reporting to the Managing Director and Global Head of the Specialized Credit Group, the incumbent assumes a leadership role in overseeing the management of the New York NBFI team. As the Team Leader, the incumbent actively participates in the development of unit strategies.
Manage the credit relationships for a portfolio of complex, demanding accounts, often involving a high level of profile within the Bank in a variety of industry segments including banks and non-bank financial institutions such as insurance companies, broker dealers, pension and investment funds, and hedge funds.
Act as the Bank's account manager for these accounts and build relationships with clients in order to understand their trading requirements and anticipate future needs for CIBC capital markets products and services.
Work with trading floor businesses to structure credit facilities to mitigate credit risks inherent in derivatives and other trading floor business products.
Have a well-developed understanding of other risks inherent in derivative and all other trading floor business transactions (e.g. operational risk, legal risk) and be able to communicate with appropriate experts in other areas of the Bank to ensure that these risks are addressed.
Assist in the development of credit policy and risk management standards, procedures and processes for trading floor business products and structures.
KEY ACCOUNTABILITIES
• The Executive Director (ED) is responsible for managing the credit relationships for a portfolio of the more complex, demanding accounts, many of which represent high profile trading relationships.
• Assume a leadership role within the Specialized Credit Group, and be an active participant at a senior level in the management of the department.
• The ED will be perceived both internally and externally as an expert in the area of credit risks associated with derivative and other trading floor products, and will be expected to apply a complete and current understanding of these risks in the management of the portfolio.
• The ED is responsible for understanding and analyzing complex, structured transactions and is responsible for conducting due diligence
• The ED actively liaises with numerous internal business partners including Capital Markets and Trading, Prime Services Group, Capital Markets Risk Management, Client On Boarding, and, Legal in the underwriting of the credit portfolio. Building and maintaining strong relationships with trading floor marketers/traders, and, responding in a timely manner to requests for credit facilities are key to delivering on our value proposition.
• Assist more junior account managers in their analysis of accounts, provide recommendations, and modify as necessary all risk ratings as well as credit facility size and covenants. Ensure that all credit applications provide sound recommendations for facilities supported by a thorough analysis and well-executed interpretation of relevant financial, industry, business, and market information.
• Meet with senior management of client and potential client firms to maintain credit relationships and identify credit-related and other business opportunities.
• Actively supervise the credit quality and global credit exposure of the portfolio by remaining current with the customer base, industry and economic trends, and market information. Ensure that accurate and consistent risk rating policies are developed and applied across the portfolio.
• Identify and arrange for execution of appropriate trading documentation in order to support the credit facility. This involves negotiating with clients while working closely with Legal, and, Documentation groups.
CROSS-FUNCTIONAL RELATIONSHIPS
• This job must effectively foster client relationships
• Builds and maintains relationships with CIBC capital markets marketers/traders, and responds quickly to requests for credit facilities from the trading floor
• This job supports senior bankers with regard to activities of many parties
JOB DIMENSIONS
• Enterprise-wide accountability
• Regional responsibility
• Must maintain a high level of knowledge of derivative and other trading floor business products, and partner with trading floor personnel to deliver timely results for clients
• Must be able to assess factors which affect the risk profile of a customer quickly in order to make timely decisions and take appropriate action as necessary
• Work within a challenging, fast paced environment where time pressures demand a rapid response to requests from the trading floor for trading authorization
• Focused attention to detail when reviewing financial information and preparing credit applications
• Work in a dynamic team environment where sharing of skills and knowledge is critical
KNOWLEDGE AND SKILLS
• Minimum 10+ years related experience; MBA, CFA or other relevant professional designation preferred.
• Unquestioned professionalism, ethics and reputation. Approach to the workplace that is based on open communication and a team atmosphere.
• Broad working knowledge of derivatives and other trading floor products.
• Expert understanding of, and experience in dealing with, the credit risks associated with trading floor business products.
• Solid understanding of specific industries, including fundamental market factors, and capital markets activity and influences.
• Sophisticated analytical skills including extensive experience in analyzing financial statements in order to assess credit risks.
• Ability to research and monitor large volumes of information from various sources, gather data and perform analyses on an ongoing basis.
• Well-developed oral and written communication skills to effectively communicate complicated concepts and financial data to senior management.
• Excellent organizational and time management skills to deal with multiple and sometimes conflicting demands and time constraints. Excellent adaptability and flexibility to deal with a rapidly changing environment.
• Well-developed problem-solving and decision-making skills.
• Ability to mentor/coach more junior account officers in order to develop their career objectives and achieve unit objectives.