Associate, Securitization & Structured Products Administration

CIBC•New York, NY

21d

About The Position

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 What You’ll Be Doing Involved with the execution and day to day management of Securitization products within CIBC Capital Markets. Operates in a fast-paced environment supporting a dynamic and hardworking front office Securitization team. Supports activities that will help drive the growth of the US Securitization business at CIBC. This includes assisting in the execution of new securitization transactions and relationship management to help the front office Securitization team execute mandates and earn repeat business. How You’ll Succeed Account Monitoring. Reviews accounts to ensure compliance with all terms and conditions of credit authorizations, including receipt and analysis of all customer information and receipt of payments from customers. All irregularities and/or materially negative trends are reported to the Securitization Front Office deal team and to Risk Management. Monitors receipt of and analyzes monthly settlement statements and, creates and compiles performance reports that have been reviewed by the secondary Securitization Administration personnel and ensures that all appropriate parties are promptly advised of any deteriorating situation. Client Interaction. Provides support and information to various internal and external clients as it relates to all transactions under management. This also involves the preparation of various portfolio and management reports. Works closely with the Securitization Front Office and Securitization Administration teams for all transactions under management. Assists in completing deal amendments and credit renewals as well as addressing any issues that may arise from the seller transaction. Works with the Derivatives desk on transactions that require a hedge arrangement to ensure that proper mechanics of the funding is applied throughout the life of the transactions until deal is terminated. Works with Credit Processing Group/Operations on funding/paydown client requests and to update securitization exposures for monthly reconciliation with the general ledger. Completing KYC/AML requirements. Ensures that new US securitization transactions are on-boarded and meet KYC/AML requirements. This will include actively communicating with Client Services and the Client to obtain initial required documentation as well as any additional on-boarding inquiries that may arise from the due diligence process. Maintaining Credit applications. Ensures the accuracy, completeness, timeliness, and integrity of information maintained and provided to Risk Management and Credit Processing Group/Operations. Assists in the completion and submission of Credit Applications to Risk Management and maintains credit files including copies of credit applications, Risk Management approvals, deal committee approvals, financials, compliance certificates, correspondence etc. Liaise and work alongside all functional groups within SSPA and participate as an active member of the team.

Requirements

2-3 years of experience working in financial services and knowledge of Capital Markets and experience dealing with various groups within Capital Markets is a benefit
Degree in Business/Economics/Finance/Accounting
Basic understanding of Securitization, loan products (mortgages, auto loans/leases, credit card debt, lines of credit) and interest rate derivatives
Results-oriented self-starter who shows a keen interest in the Securitization business
Team player who excels at working collaboratively with others in a group setting
Proven ability to pay close attention to detail and execute transactions within tight timeframes with an analytic/systematic approach
Can think and act independently to resolve issues with minimal supervision
Can discern the need to escalate issues to senior members of the team
Is frequently questioning the status quo of existing processes and thinking of ways to improve upon them
Strong written and oral communication skills, incorporating the ability to explain detailed transactional analysis
Strong client relationship and communication skills
Strong attention to detail and ability to multi-task
Strong technical/computer and analytical skills, including proficiency in Excel and PowerPoint
Efficient organizational skills to respond to shifting priorities on several simultaneous transactions
Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability.
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
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.

Responsibilities

Account Monitoring
Client Interaction
Completing KYC/AML requirements
Maintaining Credit applications
Liaise and work alongside all functional groups within SSPA and participate as an active member of the team