Sr. Director, Trading Credit Risk

About the Role

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.

Responsibilities

• Accountable for the overall management, leadership, oversight, and performance of the counterparty credit risk (CCR) function as it relates to Private Credit lending.
• Oversight of Trading, Financing, and/or Lending facilities for private credit counterparties globally, including Canada, US, Europe, and Asia Pacific.
• Develop and implement strategies, policies, procedures, and practices to manage and control the counterparty credit approval process, credit quality targets, and integration of Credit groups.
• Adjudicate credit facilities covering private credit funds under Non-bank Financials (NBFI), and extend to other NBFI counterparties such as Banks, Sovereigns, Central Clearing Counterparties (CCPs), Governments, and Public Sectors.
• Provide direction to senior CCR managers on accounts within their Delegated Approval Authority (DAA), authorize accounts within the incumbent’s DAA, and make recommendations to Senior Vice President or Executive Vice President on accounts exceeding the incumbent’s DAA.
• Advise the Bank’s senior executives on industry-related matters and work closely with line management counterparts on business and financial plans.
• Manage the Global Markets Financing – Risk Operating Framework, covering financing activities such as repo, loan warehouse/CLO, securitization, securities lending, equity derivative, prime brokerage, and commodity/metals businesses (over US$120 billion in financing activities).
• Shape and influence business strategies and strategic planning to ensure alignment with the firm’s counterparty credit risk appetite.
• Establish key performance metrics for credit quality in consultation with Business and Risk Management executives.
• Develop and recommend credit policies that shape the strategies of client businesses.
• Interact with external clients (e.g., funds/SPVs, brokers, banks, sovereigns, pensions, hedge funds, insurance companies) to demonstrate competency, knowledge, and strong interpersonal skills.
• Ensure effective management of credit risk and CCR through identification, measurement, and monitoring in line with the Bank’s risk policies and standards.
• Develop credit policies and standards for various client segments, including Private Credit funds, Hedge Funds, Pension Funds, Sovereigns, Insurance Companies, Asset Managers, Prime Brokerage, and Broker Dealers.
• Maintain informed industry expertise and participate in external activities such as client meetings and industry forums.
• Keep Senior Vice President and Credit Committee apprised of significant industry developments and make presentations as required.
• Provide regular analysis of prevailing conditions and prospects for relevant industries to senior risk managers and specialist line officers.
• Ensure risk ratings are objective, transparent, and reflective of each transaction’s risk profile.
• Ensure compliance with the Bank’s Global Reputation and Legal Risk Policy.
• Provide professional stewardship of the Bank’s credit risk and CCR analysis.
• Deliver quality service to all CIBC business units for managing relevant credit risk and CCR portfolios.
• Provide expert input and assist in the development and maintenance of risk rating models.

Key Relationships

• All trading floor businesses at all levels to understand credit needs and ensure appropriate credit facilities.
• Senior management of Capital Markets for product policies, procedures, and individual credit situations.
• Regulators in Canada (OSFI) and the US (SEC/FED/NFA), as well as internal and external auditors.
• Risk managers and relationship managers across the CIBC Group of Companies.
• Senior executives in Risk Management, including the Senior Credit Committee.
• CIBC Senior Executives and Line of Business Leaders in Global Markets, Corporate Banking, and Internal Audit.
• Senior executives at external clients to understand their credit risk and needs.

Decision Rights & Authorities

• Comply with all applicable CIBC and Line of Business policies, guidelines, and controls.
• Receive delegated approval authority for credit adjudications and portfolio management from the Senior Vice President, Trading Credit Risk, as documented in the Delegated Approval Authority (DAA), reviewed annually.

Qualifications

• Comprehensive knowledge of private credit products and structures, including their practical application and associated credit risks.
• Knowledge of loan evaluation, marking, and structuring, particularly in BSL/MML or leverage finance.
• Broad and deep knowledge of credit and CCR products, their appropriateness for different customer needs, risk factors, and profitability potential.
• Specialist knowledge of industries such as Pensions, Hedge Funds, Asset Managers, Insurance, and Broker Dealers to adjudicate complex clients and their credit risks.
• Detailed working knowledge of CIBC operations to adapt practices and processes in response to changes affecting product and service delivery.
• Extensive knowledge of the external financial and regulatory environment, particularly as it relates to financial institutions and foreign governments from a risk perspective.
• Advanced presentation and interactive skills to convey complex conceptual information and ideas requiring extensive interpretation and opinion.
• Cooperative, entrepreneurial team player with mature judgment, strong interpersonal skills, and original approaches to problem resolution.
• Well-developed influential skills for promotion and negotiation on CIBC’s behalf.
• Excellent writing skills to prepare interpretative, analytical, and creative materials involving precise articulation of ideas and opinions.
• Problem-solving skills to select and modify general approaches and solutions.