Job Information
CIBC Senior Consultant, Quantitative Risk Validation 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
In the role of Quantitative Risk Modelling Analyst you’ll have the opportunity to join the CIBC’s Model Validation group. You’ll conduct model reviews where you’ll independently review of the CIBC’s analytical and statistical models, primarily for risk measurements and capital calculation related to Capital Market Risk Management (CMRM) and participate in strategic project related model validation work, e.g., market risk Fundamental Review of Trading Book (FRTB) and counterparty credit risk Internal Model Method (IMM), etc.
You’ll also develop and support the CIBC’s model risk management framework to ensure compliance with regulatory requirements (e.g. SR 11-7, E-23, and MRR, etc.). You’ll interact with model owners, model developers and audit groups to establish and maintain sound process and procedures on model submission, model queue planning, model inventory management, and model ongoing monitoring, etc.
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 1-3 days per week on-site, while other days will be remote.
How you’ll succeed
Problem solving - Review the model's mathematical underpinnings, modeling rationale and assumptions as well as model’s inputs and outputs.
Technical expertise and testing- Develop an independent numerical benchmark and conduct numerical tests to assess the accuracy of the model's implementation.
Reporting - Write a model validation report that includes a description of model and methodology, the testing approaches and results as well as model operational conditions and model risk assessment.
Communication - Understand the governance and control on model risk management and be able to efficiently communicate the regulatory requirements to various stakeholders and senior management.
Who you are
You can demonstrate experience and knowledge of financial derivatives products (including the corresponding valuation and risk measurement models) and the regulatory requirements on model risk management. You have good programing skills, e.g. C/C++, Matlab, VBA and SAS, etc.
You have a Master’s or Ph.D. degree in the areas of Mathematical Finance, Financial Engineering, Applied Mathematics, and Statistics.
You love to learn . Maintain up-to-date knowledge with regard to financial derivatives modeling, and regulatory requirements on capital calculation and model risk management.
You’re driven by collective success . You collaborate well in a team, learning from others and applying your skill set. You proactively seek new opportunities to define what’s possible.
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.
Job Location
Toronto-CC East 12th Floor
Employment Type
Regular
Weekly Hours
37.5
Skills
Analytical Thinking, Decision Making, Group Problem Solving, Model Analysis, Regulatory Requirements, Reporting and Analysis, Risk Models, Risk Quantification
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.