Job Information
CIBC Senior Audit Manager, Model Risk in Toronto, Ontario
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)
What you’ll be doing
As a member of the Internal Audit – Model Risk group, you will be primarily responsible for leading and contributing to the execution of audit assignments with medium to high level of complexity focusing on all models used across CIBC. You will focus particularly on models used for regulatory capital calculation e.g. market and credit risk including: Basel III, PD, LGD, FRTB models. In addition, you may participate in the model audits or projects covering other areas e.g. Risk Rating Credit, Capital Markets valuation models, AML and Fraud models.
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 where you’ll spend 2-3 days per week on-site, while other days will be remote.
How you’ll succeed
Audit analysis – you will provide analytical leadership in the execution of audits including evaluation of the following:
Model governance and management processes
Model development, design, theories and assumptions
Reasonableness of model output
Model validation
Model documentation
Model implementation
Model risk mitigating techniques throughout the life cycle of the model
Plan, lead and execute audits – In addition to performing assigned tasks as an individual contributor for model risk audits, you will act as an auditor-in-charge (scrum maser) to lead the development of audit scopes, resourcing plans and budgets. You will also provide support to model related projects and assist in the annual planning process, staffing and scheduling.
Deficiency management – You will validate artifacts supporting implementation of the management action plans, and assess whether committed actions are effective to conclude on risk remediation.
Continuous monitoring – You will lead and participate in design, execution and reporting of the model risk continuous monitoring program. You will develop knowledge around key model risk metrics and provide model risk insights through data orchestration, analytics and visualization.
Who you are
You should demonstrate experiences and/or understanding of quantitative techniques used in developing, validating or auditing models, specifically Market or Credit Risk models: PD, LGD and EAD, risk rating credit and ECL (IRFS 9) models. It’s an asset if you have experiences with Artificial Intelligent and Machine Learning modeling and a strong level of awareness around emerging industry trend (e.g. Basel III/IV including FRTB). Experience with managing audits and exposure to US model risk management regulations would be an asset.
You have a graduate degree in an analytic discipline such as Mathematics, Statistics, Physics or Quantitative Finance.
You have strong interpersonal, verbal and written communication, conflict management and project management (Agile) skills are an asset.
You are a motivated and fast learner who is comfortable with changes and willing to expand beyond your typical scope.
You give meaning to data. You enjoy investigating complex problems, and making sense of information. You're confident in your ability to communicate detailed information in an impactful way.
Values matter to you. You bring your real self to work and you live our values – trust, teamwork and accountability.
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, defined benefit pension plan, an employee share purchase plan, 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, French proficiency, 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
Toronto-81 Bay, 34th Floor
Employment Type
Regular
Weekly Hours
37.5
Skills
Analytical Thinking, Auditing (Inactive), Audit Management, Client Relationship Management, Integrated Audits, Internal Controls, Interpersonal Communication, Risk Management and Mitigation
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.