Job Information
CIBC Executive Director, Equity Derivatives Compliance in New York, New York
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 (https://www.cibc.com/en/about-cibc.html)
The Senior U.S. Equity Derivatives Compliance Officer is responsible for: 1) administering CIBC’s policies and procedures relating to US Capital Markets Equities and Equity Derivatives businesses; (2) taking reasonable steps to ensure compliance with all SEC, FINRA, and all other relevant SRO (e.g. Cboe) regulatory rule requirements through proactive engagement and advisory services to CIBC’s US Capital Markets Equity and Equity Derivatives sales and trading employees; 3) taking reasonable steps to ensure CIBC establishes, maintains and reviews written policies and supervisory procedures that are reasonably designed to ensure compliance; 4) taking reasonable steps to ensure noncompliance issues are effectively communicated to both senior management and regulatory staff and resolved; 5) collaborating with front office and Technology personnel on developing and implementing solutions to address regulatory requirements; 6) overseeing CIBC’s regulatory change management process, including identifying and addressing the regulatory aspects of new US and cross-border business initiatives and regulations; and 7) implementing an effective training program for US Capital Markets personnel, covering a wide range of rules and regulations which affect their daily business activities.
At CIBC we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.
How You’ll Succeed
The Senior U.S. Equity Derivatives Compliance Officer is primarily accountable for:
Overseeing the design and implementation of CIBC’s supervisory review system and second line monitoring program for its Equity and Equity Derivatives business;
Providing ongoing Compliance advisory services to the U.S. Capital Markets business, which includes liaising with external regulators (e.g. FINRA, SEC, Federal Reserve), internal infrastructure support and front office personnel, in the development and implementation of CIBC’s new business product offerings and the maintenance of the existing regulatory program;
Providing ongoing Compliance advisory services to sales and trading personnel within U.S. Capital Markets businesses including: Equity Derivatives Flow Trading, Delta One, Program Trading, DMA and ECM. This includes providing real-time advisory support to the respective desk and collaborating with the Head of US Global Markets and the Regulatory Supervision team;
Providing ongoing Compliance advisory services to infrastructure support teams in Finance, Operations, Client Services, Trade Control and Technology, covering operational requirements such as Margin (Reg T and Reg U), Reg SHO, 10b-10 confirms, Prospectus Delivery, Unregistered Offerings;
Providing ongoing advisory services and monitoring of CIBC’s regulatory reporting, including, but not limited to, Short Interest Reporting, EBS, LOPR (OTC & Listed), CAT NMS (upon go-live) and Section 13 Filings.
Monitoring the activities of CIBC’s Equity and Equity Derivatives businesses to assess overall compliance with regulatory rules;
Drafting and maintaining key policies and procedures;
Collaborating with Technology and front office personnel on the development and implementation of solutions to address new regulatory requirements, second line of defense monitoring and surveillance capabilities ;
Acting as the lead liaison in coordinating U.S. regulatory exams by regulators such as the FINRA, CFTC, SEC and the Chicago Federal Reserve and audits of Compliance by Internal Audit;
Designing and implementing risk assessments of U.S. regulatory requirement group topics to determine risk ratings under CIBC’s Regulatory Compliance Management framework;
Performing investigations of U.S. Capital Markets personnel to identify issues of potential regulatory concern;
Evaluating new business initiatives, regulatory developments and proposing customized compliance solutions within the firm’s risk tolerance and regulatory requirements
Identify potential areas of compliance vulnerability, risks and developments and lead projects related to the enhancement of the compliance program and strategic initiatives.
Who You Are
12+ years of experience in Legal, Compliance and/or Regulatory covering Equities and Equity Derivatives Sales and Trading Desks;
Subject matter expertise on rules and regulations pertaining to Equities and Equity Derivatives, including SEC, FINRA, OCC and Options Exchange rule requirements;
Understanding of SEC and CFTC Dodd-Frank Swap Dealer a plus;
Strong understanding of U.S. regulatory landscape.
Strong interpersonal skills in order to maintain working relationships;
Excellent verbal and writing skills;
FINRA licences. Series 3, 4, 7, 24 and 57 preferred but not required.
Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability.
Conduct and Risk Culture
Our CIBC risk culture is based on employees striving to exceed the expectations of ourselves and our leadership’s identification and mitigation of risks in their daily responsibilities, not just in quarterly or annual monitoring/assessments. We all are accountable for managing risk.
As an employee of CIBC the incumbent must conduct themselves (and foster an environment for others) in a manner consistent with our strong risk culture. This includes:
Following all aspects of the CIBC Code of Conduct, as well as all applicable CIBC policies, frameworks, guidelines, processes and controls
At all times acting in accordance with our Purpose and shared values, to achieve our Bank’s strategic goals
Understanding and following the qualitative and quantitative components of our Risk Appetite Statements
Completing all annual Corporate Mandatory Training and Testing modules, as well as any additional business-specific modules, as required and employing the learnings in daily activities and undertakings
Escalating matters through one of the appropriate channels identified in the CIBC Code of Conduct (i.e., HR, management, Ethics Hotline, Whistleblower, etc.) upon observing activities that may be inconsistent with CIBC’s policies, frameworks, guidelines, processes and controls, and where applicable, assist in the resolution of same
Speaking up if witnessing behaviors that drive poor or unfair outcomes for clients, team members or other stakeholders
Escalating matters that can result in adverse market practices and outcomes, thereby negatively impacting CIBC’s reputation as a leading financial institution
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $180,000-225,000 for the New York, New York 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
Company Policies, Compliance Assessments, Corporate Ethics, Executive Leadership, Group Problem Solving, Regulatory Compliance, Relationship Management, Risk Assessments, Risk Compliance, Strategic Advisory
At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.
Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.
Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.