Vice President, Credit and Market RiskCompany Information:CIBC Mellon is a leading provider of asset servicing solutions to institutional investors in Canada, including multi-currency accounting, fund valuation, and investment information reporting. We are passionate about providing exceptional client service backed by our culture of innovation and success. Our outstanding employee experience will provide you with opportunities to learn and grow professionally while supporting the communities in which you live and work.
We are a diverse and dynamic workplace where employees take an active role in delivering on strategic objectives while advancing their individual career goals. We encourage innovative thinking and give our employees the support and resources they need to turn great ideas into actions. We're always looking for talented people who can make a meaningful difference for our clients, our company and our communities.
To learn more about why our employees love coming to work each day, visit www.cibcmellon.com/experience.Position Overview:Reporting to the Chief Risk Officer, the Vice President, Credit and Market Risk is responsible for providing strategic leadership and oversight of credit and market risk management and reporting to protect CIBC Mellon from losses related to credit, market, liquidity and model risks. As a subject matter expert, collaborate with the Treasury team to support portfolio oversight and the Global Securities Lending team to support credit limits and due diligence. Represent credit and market risk on the Asset-Liability Committee (ALCO) and provide risk leadership on organizational initiatives.
Responsibilities:
- Lead and coach a small team, ensuring effective human resources management (employee development, performance management, rewards and talent management) to support the achievement of company and department goals
- Prepare risk reports for ALCO, Senior Management and the Board of Directors
- Develop and update credit and market risk policies and procedures, ensuring they meet regulatory requirements
- Oversee credit due diligence, establish and maintain corporate credit processes, oversee the development and coordination of credit approvals, monitoring and reporting of all credit limits
- Oversee market risk and manage appropriate second line of defense function to review, monitor and report all market risk and liquidity limits
- Develop and oversee the creation of credit and market risk tools and systems that provide critical risk information to relevant stakeholders
- Monitor market conditions and industry trends to anticipate credit and market deterioration and recommend corrective courses of action as required for the Treasury portfolio.
Implement stress testing programs that provide data on potential market movements
- Partner effectively with the Treasury Team and other Business Units to support all credit-related requests
- Manage and support cross-functional initiatives, including large program introductions to ensure projects have adequate risk representation and leadership
Act as sponsor for the ICAAP, Credit and Market Policies, and other programs as assigned
Qualifications:Specific Knowledge \& Skills (not preferred or an asset)
- 15 years of progressive experience, including 5 to 7 years in treasury, credit and/or market risk and senior management
- University degree, preferably in Finance, Economics, or Accounting.
- CFA, CSC, FRM and other investment and risk related designations preferred.
- Deep understanding of financial markets and risk factors to evaluate the impact of various economic scenarios on the treasury portfolio.
- Expertise in risk measurement and financial modeling.
- Thorough understanding and development experience related to key market, liquidity, and credit risk metrics such as LCR, EVE, NII sensitivity, and other key risk measures.
- Familiarity with regulatory requirements in Banking sector related to market and interest rate risk, liquidity risk, credit risk, capital management, and balance sheet management and funding.
- Experience with sophisticated analytical and valuation software, valuation methodologies and have proficient skills in analytical tools MS Excel, etc.
- Exceptional problem-solving skills with the ability to navigate complex financial challenges and provide effective solutions.
- Excellent communication and presentation skills to convey complex risk concepts to both technical and non-technical stakeholders.
Working Conditions Unique to Job (i.e. Standard Office Environment)
- Standard working environmentCIBC Mellon's Values:Get it
Right Every Day: Deliver service excellence while always acting with the highest ethical standards
Put Clients at the Centre: Advocate for clients by listening, sharing knowledge, and bringing the right solutions forward
Be One Family: Challenge, empower and recognize your colleagues
Take Ownership: Speak up, speak out, and make things better
