Senior Vice-President And Chief Financial Officer, Capital Markets And Direct Financial Services

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.

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The Finance and Enterprise Strategy group provides financial services to CIBC’s businesses through effective governance and decision support processes to enable CIBC’s core purpose: to help make our clients’ ambitions a reality. These services include corporate strategy, financial management and regulatory reporting, maintenance of accounting records, financial analysis and planning, tax planning and compliance, global sourcing and payment processing, regular reviews of business line performance, liaison with CIBC’s investors and enterprise strategy. The group is also accountable for Treasury including Taxation, Liquidity Management, Capital Management, Treasury Analytics, Secured Funding, Unsecured Funding, and oversight of CIBC’s relationship with CIBC Cayman Bank.

The Senior Vice-President and Chief Finance Officer (CFO), Capital Markets and Direct Financial Services (DFS) is accountable for providing leadership in all aspects of financial service for Capital Markets and Direct Financial Services. As a member of the senior management team, the role provides expert and strategic advice and counsel to the Strategic Business Unit (SBU) leaders and their senior management teams. In particular, this role provides leadership in the following areas:

• Strategic support to the SBU leaders and their senior management teams with an emphasis on Finance strategies and plans.
• Value added advice, counsel, consultation and prioritization to the SBU leaders and business unit heads in ongoing opportunities for increasing returns and managing risk and expenses in a very competitive and changing business environment.
• Accurate and timely cost-effective finance support to meet the needs of the Capital markets and Direct Financial Services businesses including accuracy of the financial results.

As an organizational leader, this role champions:

CIBC employee experience principles:

• Radically simple… so our team members can focus on what they need to do and make an impact.
• Always professional… so our team members can excel and be their best professional self.
• Genuinely caring… so our team members can feel valued for who they are and what they contribute.

CIBC leadership capabilities:

• Inspires hearts and minds…to build an inclusive culture where we make bold choices, collaborate, and empower others to take chances and do what’s right for our stakeholders.
• Envisions the future…to innovate purposefully to create new value and harness new capabilities in order to meet the evolving needs of our diverse stakeholders.
• Drives action and impact, together…to align with urgency around what matters, making decisions with speed and always making a real difference.

What You’ll Be Doing

Shaping/influencing business strategies and strategic planning

• Sponsors and leads major change projects that span across many lines of business and potentially across SBUs.
• Develops the Capital Markets and Direct Financial Services annual and strategic financial planning process ensuring appropriateness of key inputs and assumptions.
• Leads and/or actively participates in special projects and strategic initiatives to set the business’ future direction and priorities.
• Provides accurate and timely financial reporting, analysis and recommendations regarding the financial performance of the businesses.
• Monitors and tracks progress against annual and strategic targets escalating any significant deviation from the strategic plan to the SBU business leaders.
• Works with business heads at the Senior Executive Vice-President, Executive Vice-President and Senior Vice-President levels to develop financial plans/targets and support the businesses to achieve the targets.
• Provides financial and management reporting and accounting analyses of financial results, interprets and provides recommendations for enhanced business performance.
• Provides analyses and recommendations in support of new strategic and tactical initiatives including the development of major business cases and monitors results.
• Leads the financial processes related to acquisitions, divestitures and joint ventures associated with the businesses.
• Provides pro-active advice and counsel to senior business unit heads in ongoing opportunities for increasing returns, managing risk and expenses in a very competitive and rapidly changing business environment.
• Develops and implements performance measures for each business as well as implementing measurement policies and tools.
• Ensures integrity of financial information and that all required accounting and management policies and control standards are effectively communicated and implemented.
• Manages the quarterly business performance review process including reviewing business performance with the senior business head and writing an independent assessment of the performance of the business. .
• Provides the business requirements for the development of financial systems and technology to support the businesses.

Reporting, Planning and Forecasting

• Oversees development of review, escalation and approval processes for management reporting, planning and forecasting decisions.
• Ensures thorough and detailed analysis and review of management reports, plans and forecasts to ensure the highest degree of quality and integrity.
• Monitors industry best and evolving practices and ongoing business activities for considerations that could result in potential impact to management reporting, planning and forecasting deliverables and to determine the impact and the appropriate course of action to adopt such practices, in conjunction with the clients.
• Oversees production of daily, monthly, quarterly and annual management reports, financial plans and forecast and implement the supporting procedures.
• Oversees the controlled implementation of changes to management reporting, planning and forecasting deliverables.
• Oversees appropriate global control processes and policies to ensure valid, accurate, complete and timely provision of data, to meet client, stakeholder and management reporting, planning and forecasting requirements under current and evolving needs, ensure sign-off is obtained prior to finalizing management reports and comply with CIBC’s Policy Framework.
• As appropriate, supports clients and other stakeholders with regards to planning & forecasting deliverables, including assumptions (drivers) underpinning the plans and forecasts.

Internal and external business development/client service

• Prepares Business Unit performance reviews for senior management.
• Coordinates delivery of all Finance services to the businesses (e.g. ensures Finance has appropriate governance, controls, policies, systems and processes to efficiently and effectively deliver finance services to SBU’s).
• Provides business and financial support in the development, negotiation and implementation of many business partnerships with external organizations.
• Provides business decision support and recommendations on strategic and/or business opportunities SBU leaders and senior management.

Governance and Risk Management

• Responsible for, together with other parties, approval of risk assessments for New Initiatives Approval Process, and leads/coordinates Finance Group response to risk assessments and action plans.
• Represent to various forums the SBU(s) where financial and SBU(s) specific knowledge is required.
• Works with Technology (in conjunction with Controller and Planning and Analysis Groups) to establish strategic direction and priorities for the financial information systems to support enhanced decision making.
• Provides effective financial stewardship of the business, ensuring that the SBU and LOB management understands and complies with practices and regulations pertaining to CIBC.
• Contribute to CIBC-wide policy, practice and procedure development.

What We’re Looking For

• Thorough understanding of the businesses within Capital Markets and Direct Financial Services, including key performance drivers.
• Strong change management skills and experience and proven ability to effectively lead transformation change initiatives.
• Problem solving skills sufficient to creatively develop unique approaches and solutions necessary to resolve complex business and financial problems.
• As a minimum, a professional accounting designation and/or a post graduate business degree with strong overall knowledge of financial institutions.
• Excellent negotiation skills.
• Demonstrated project and process management capabilities and experience in implementing major change in a large organization.
• Advanced knowledge of the practices, procedures and principles in the field of finance including accounting, planning, capital budgeting, investment and reporting principles and practices sufficient to interpret and analyze high level complex concepts and apply these in unique ways.
• Advanced presentation/interactive skills to convey complex conceptual information/ideas on issues requiring extensive interpretation and opinion.
• Demonstrated business judgment and experience, creative and strategic thinking.
• Highly developed written, verbal and presentation skills sufficient to prepare interpretive, analytical and creative materials involving precise articulation of ideas and opinions.
• Advanced influential and relational skills sufficient to shape decision-making processes on matters of major business policy or strategy and where others need to be convinced of the value of preferred options or alternatives.
• Advanced leadership and management skills to lead and motivate a group of finance professionals.
• Extensive working knowledge related to external financial and/or other industry, market, regulatory environment, client business practices and needs sufficient to interpret, analyze and creatively provide business recommendations.
• Advanced operational knowledge of strategic and business planning processes.

What You Need To Know

• 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.
• 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 [email protected]

Job Location

Toronto-161 Bay St., 9th

Employment Type

Regular

Weekly Hours

37.5

Skills

Finance