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
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.
The US CIBC Private Wealth Group (“PWG”) conducts an investment advisory and trust business, which primarily focuses on serving a select group of wealthy individuals, families, foundations and endowments. CIBC’s PWG business is conducted through three primary entities, CIBC Private Wealth Advisors, Inc., an SEC registered investment advisor (“RIA”), CIBC National Trust Company, N.A., an OCC licensed trust company, and CIBC Delaware Trust Company, a limited purpose Delaware trust company. PWG has a national footprint in the U.S., with teams of wealth management professionals in 18 major cities. PWG is a subsidiary of CIBC (NYSE: CM), a leading global financial institution based in Toronto, Ontario, Canada.
PWG Compliance delivers on the global Compliance mandate by providing timely, proactive advice and independent second line oversight to the Wealth Management and Trust lines of business. PWG 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.
What You’ll Be Doing:
The PWG Executive Compliance Director (“Executive Director”) is responsible for developing, implementing, and maintaining an effective compliance program to address all relevant SEC, FINRA, OCC, Federal Reserve and Delaware regulatory requirements as they pertain to PWG’s business units. The Executive Director will also be responsible for the oversight of the investment activities of the PWG businesses. The Executive Director will participate in various PWG governance committees and will be based in New York City and report to CIBC’s US PWG Chief Compliance Officer (“CCO”).
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.
How You’ll Succeed:
The PWG Executive Director must have a thorough understanding of the Investment Advisers Act of 1940 and a working knowledge of OCC regulatory requirements with a strong background in investment related compliance to perform oversight of PWG business activities. As part of the responsibility to implement and maintain PWG’s Compliance program, the Executive Director will be accountable for:
Developing, implementing, and maintaining a comprehensive second line of defense compliance program to achieve compliance with SEC, OCC, Federal Reserve and state of Delaware rules and regulations;
Demonstrating strategic thinking and planning to address compliance issues associated with PWG’s increasingly growing platform;
Exercising proactive and independent judgment when providing advice to senior management;
Collaborating with the CCO to develop and execute the Annual Compliance Plan;
Executing Regulatory Compliance Risk Assessments of for regulatory requirements related to CIBC’s US PWG business activities;
Establishing and maintaining written policies and procedures designed to achieve adherence with investment advisory, fiduciary, bank and securities regulations and internal investment related compliance policies;
Responding to compliance related inquiries, questions and requests from business personnel;
Assessing, analyzing, and interpreting applicable rules and investment related regulations;
Preparing written responses to regulatory inquiries and examinations for the CCO on investment related or Trust matters;
Delivering ongoing training and education to business personnel about investment compliance and Trust matters;
Collaborating on inter-departmental projects with business unit partners.
Ensuring there is satisfactory resolution to highly complex regulatory compliance issues, typically with significant business unit implications.
Who You Are:
To be held accountable for the above referenced responsibilities and perform his or her role successfully, the Executive Director should have:
10 + years of experience in a compliance position at a registered RIA, broker dealer or bank.
A strong understanding of the Investment Advisors Act of 1940, the Investment Company Act of 1940 and applicable FINRA Conduct Rules.
A working knowledge of OCC and other banking related regulations pertaining to trust companies.
Broad experience with regulatory filings (e.g. Form ADV, Section 13 filings).
Considerable experience with compliance monitoring systems to facilitate the development and maintenance of compliance reports.
The ability to prioritize his or her responsibilities in a fast moving, dynamic environment.
An entrepreneurial inclination and the ability to work alone as well as collaborate with a team.
Strong interpersonal skills in order to maintain sound working relationships with support partners and front office personnel.
Strong organizational skills, including the ability to prioritize and follow-up on key issues in a timely manner.
Strong writing, analytical and problem-solving skills.
Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability.
Cross-Functional Relationships:
Ability to work in a matrix environment.
U.S. securities regulators and officials in order to monitor regulatory developments and coordinate examinations.
Executives and senior management in the U.S.
Line of business leaders; investment advisors, compliance officers, Legal and Risk Management.
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $180,000 - $230,000 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
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 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
NY-300 Madison Ave., 7th FloorEmployment Type
RegularWeekly Hours
40Skills
Company Policies, Compliance Assessments, Corporate Ethics, Executive Leadership, Group Problem Solving, Regulatory Compliance, Relationship Management, Risk Assessments, Risk Compliance, Strategic Advisory