Director, Compliance

CIBC•Toronto, ON

6d•Hybrid

About The Position

Risk Management is accountable for the independent oversight of the management of risks inherent to CIBC’s activities. These risks include ensuring effective processes for the identification, management, measurement, monitoring, and control of operational, regulatory, reputation, legal, strategic, market, credit, investment, and liquidity risk. The Compliance Department provides timely and proactive advice and independent oversight of CIBC’s compliance with applicable regulatory requirements. Together with the businesses, the Compliance Department works to manage and mitigate regulatory risk. Reporting to the Senior Director, Deposits and Investments, the Director provides specialized expertise, advice, strategy, and independent monitoring and oversight regarding regulatory compliance with market conduct obligations primarily involving retail deposit products for Simplii Financial. Additional accountabilities may include oversight of various other sundry products/services offered by Simplii Financial and assisting the Senior Director with other oversight responsibilities. The incumbent may also provide coverage for the Senior Director during periods of absence.

Requirements

Experience in CIBC’s and Simplii Financial organizational structure, and organizational initiatives within your assigned business area(s), including new products, technologies and applications as well as their implications in order to ensure that the business is in conformity with all applicable laws, regulations and internal procedures.
Understanding of regulatory/compliance policies, procedures and methodologies sufficient to draft strategies and provide leadership in resolving regulatory compliance issues.
Experience in Audit, Internal Control, Legal or Compliance for a financial institution.

Nice To Haves

Knowledge of regulatory/compliance policies, procedures and methodologies sufficient to draft strategies and provide leadership in resolving regulatory compliance issues
Experience in Audit, Internal Control, Legal or Compliance for a financial institution.

Responsibilities

Lead the assessment of development and introduction of new products, services and business initiatives; advising on mitigating controls (including policies/procedures) necessary to address regulatory risks.
Timely and on-going identification, risk assessment and communication of changing regulatory requirements.
Effective and timely discussion, escalation and reporting of regulatory compliance risks and issues.
Establishing an appropriate regulatory compliance culture and supporting the business in achieving its strategic objectives while ensuring effective management of regulatory compliance risk and control processes.
Analyze new and pending laws, regulations and industry commitments that affect areas of responsibility ensuring that relevant issues and organizational risks are identified and raised for consideration by management in formulation and revision of policies, procedures and other control measures for regulatory compliance.
Provide advice, recommendations and assistance in developing policies, procedures, training, and communications to ensure compliance.
Oversee or monitor the satisfactory resolution of complex, contentious or sensitive regulatory compliance issues, with significant product or business line implications.
Ensure that all significant compliance issues, such as deficiencies or regulatory risks (including Regulatory Compliance Issues (RCIs)) are reported to the Senior Director, the VP Compliance, the regulator, the Chief Compliance Officer and senior management, as appropriate.

Benefits

Competitive salary
Incentive pay
Banking benefits
Benefits program
Defined benefit pension plan
Employee share purchase plan
Vacation offering
Wellbeing support
MomentMakers, our social, points-based recognition program
Purpose Day; a paid day off dedicated for you to use to invest in your growth and development