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 Global Swap Dealer Compliance Officer is responsible for performing important advisory, training, trade and position reporting reviews, and analytical functions to support CIBC’s Global Swap Dealer Compliance program.  The Global Swap Dealer Compliance Officer is primarily responsible for 1) advising CIBC’s global OTC Derivatives business on SEC, CFTC, and NFA rule requirements, as well as CIBC’s Global Markets employees on the technical aspects of swap rules under the Dodd-Frank Act; 2) advising internal stakeholders on global swap trade reporting requirements and representing Swap Dealer Compliance on swap reporting meetings with internal parties and external associations; 3) collaborating with Front Office, Regulatory Operations and Technology personnel on developing and implementing solutions to address regulatory requirements including swap trade reporting and global trade reporting rewrites; 4) collaborating with Enterprise Wide Compliance and Regulatory Change Management addressing the new regulations, changes to existing regulations, risk assessments and control mappings, and internal reporting of regulatory matters such as status of rule proposals, exams, audits and enforcement cases; 5) assisting with regulatory exams by NFA, SEC and SEFs; 6) leading remediation of deficiencies identified internally or externally; 7) monitoring sales and trading activities to ensure compliance with CIBC policies and regulatory requirements; 8) ensuring controls adequately address applicable regulatory requirements.   

How You’ll Succeed

4-year undergraduate degree;

Minimum 5-7 years of capital markets experience;

Experience in providing regulatory or compliance advice in connection with derivatives markets (e.g. commodity, equity, and interest rate swaps) preferred but knowledge of derivatives markets required;

Understanding of U.S. and Canadian regulatory landscape, with a familiarity with CFTC/SEC Swaps rules,  CSA swap reporting rules, or Europe/Asia region swap reporting rules a plus;

Ability to understand complex regulatory matters and provide clear and insightful guidance to senior management and trading personnel as directed by Senior Swap Dealer Compliance ;

Ability to work independently with other staff across functional lines within the Bank;

Ability to assist with Compliance technology projects;

Strong proficiency in Powerpoint, Excel, Power BI, Visio a plus;

Strong interpersonal skills in order to maintain working relationships with senior management;

Excellent verbal and writing skills;

NFA Swaps Proficiency Exam completed a plus;

Sponsorship for work visas may be provided for highly qualified candidates who do not have work authorization

Who You Are

The U.S. Global Swap Dealer Compliance Officer is primarily accountable for:

Overseeing compliance advisory services on regulatory matters to personnel within U.S. Global Markets, including Equity, Commodity, Interest Rate, and FX asset classes for OTC Derivatives;

Advising on regulatory and technical global swap trade reporting requirements;

Evaluating new products, programs, services and business initiatives to ensure compliance issues are identified and addressed and an appropriate Compliance program to support the initiative is implemented;

Leading discussions on proposed/new OTC derivatives rules as well as organic and inorganic business development opportunities, to assess the overall regulatory impact on CIBC’s Global Markets business;  

Conducting Compliance training on matters pertaining to CFTC, NFA, SEC, and SEF rule requirements;

Perform oversight functions of OTC derivatives sales and trading activities, to assess overall compliance with CFTC, NFA, SEC and SEFs rules pertaining to swaps (e.g. real-time/SDR reporting, large trader reporting, external business conduct rules, etc.);

Developing, drafting, and maintaining key policies and procedures relating to new CFTC and SEC swaps rules implemented under Dodd-Frank which affect CIBC’s global swaps activities or to address identified deficiencies or changed rules (ex. CFTC Rewrite, EMIR Refit) and/or to enhance the overall effectiveness of the Compliance function;

Assisting with the drafting of CIBC’s Annual Swap Dealer and Security Based Swap Dealer Chief Compliance Officer Reports;

Collaborating with Technology and front office personnel on the development and implementation of solutions to address existing and new regulatory requirements;

Effectively challenging the business to align processes and controls with regulatory expectations and best practices;

Assist in coordinating U.S. regulatory exams by regulators, Internal Audit reviews and Compliance Exam team reviews involving the Swap Dealers;

Drafting written responses to regulatory exams and inquiries;

Representing CIBC in key industry association working groups (e.g. SIFMA, ISDA, FIA);

Drafting and maintaining risk assessments of regulatory group topics and mappings controls under CIBC’s Regulatory Compliance Management framework;

Performing electronic and voice communications surveillance for certain lines of business to identify issues of potential regulatory concern and escalating to appropriate teams/individuals;

Monitoring, analyzing, summarizing, and circulating updates and changes of the applicable regulations to the Swap Dealer Compliance team and other business groups as needed;

Understanding how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions

Cross-Functional Relationships

This job requires interaction with:

Technology in order to continually evaluate and enhance systems to address specific regulatory requirements and surveillance reports to achieve optimal efficiency and ensure accurate criteria;

Line of business staff to inquire about issues of potential regulatory concern and to advise on Compliance related matters;

Infrastructure support groups (e.g., Business Management, Finance and Operations) to collaborate on control issues;

U.S., Canada and other jurisdictions Legal to seek interpretive guidance on technical regulatory requirements; and

U.S. and Canadian regulators, CIBC Internal Audit staff, U.S. and Canada Compliance exam teams during regulatory exams and audits

Compliance Requirements

As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls;

As a Senior Compliance Officer, this job is accountable for reviewing the work of others in the business unit to ensure adherence with all CIBC and LOB governance requirements;

As an employee of CIBC, the incumbent must complete all annual training requirements

Authorities and Decision Rights

As a key contributor to Compliance, this job has,

the authority to recommend changes to Swap Dealer policies and procedures to ensure that relevant regulatory requirements are properly documented and processes are developed and implemented done in the most effective and efficient manner to achieve regulatory compliance;

the authority to represent Compliance on internal projects relating to the development and implementation of trading, trade surveillance, and trade reporting systems for OTC derivatives and related cash products;

At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $140,000 - $175,000 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., 6th Floor

Employment Type

Regular

Weekly Hours

40

Skills

Accountability, Business, Compliance Activities, Compliance Programs, Compliance Requirements, Ensure Compliance, Quality Assurance Review, Quality Investigations, Regulatory Compliance, Regulatory Requirements, Risk Assessments, Strategic Objectives