Director, Fixed Income Market Risk Manager

CIBC • New York, NY

2d • Onsite

About The Position

Capital Markets Risk Management (CMRM) provides second line of defense oversight of market risk and trading credit risk stemming from the activities of CIBC’s Capital Markets, Treasury, and other subsidiaries. We partner with strategic business units to measure, monitor, and control market and credit risks, ensuring compliance with all relevant regulatory requirements. We provide assurance that risks within our mandate are properly identified, assessed, monitored, and managed across all product groups and regions, in alignment with CIBC’s Risk Appetite Statement. We are seeking a market risk manager to oversee CIBC’s fixed income trading activities in the US which includes Treasuries, swaps, spread products and securitized products. You will be responsible for ensuring that market risks associated with these activities are completely identified, measured, and managed. Your role will also support the development of new business initiatives and involve conducting ad-hoc analyses of specific risks and transactions. In addition, you will participate in leading group-wide projects, bringing forward innovative ideas and applying advanced analytical techniques. Success in this role requires a strong understanding of financial markets and the analytical foundations of pricing and risk management for complex derivatives. You will collaborate closely with traders, treasury, operations, financial control, audit, technology, middle office, and other teams within CMRM. The position demands sound judgment and the ability to make timely decisions with respect to complex risk scenarios within a dynamic, time-sensitive trading room environment.

Requirements

• 3+ years of market risk management experience on a trading floor.
• Strong understanding of the pricing of and risks associated with fixed income products.
• Demonstrated interest in markets and the ability to proactively anticipate impacts to a given risk profile.
• Familiarity with the methodologies and risk metrics to quantify and analyze market risks, such as VaR, Stressed VaR, Stress Testing and risk sensitivities.
• Strong interpersonal and communication skills including the ability to articulate technical, complex ideas to a variety of audiences.
• Excellent negotiation and mediation skills.
• Undergraduate degree in a quantitative discipline preferred.
• Highly proficient Excel skills.
• Knowledge of Python, VBA, and/or other programming languages is a plus.
• Self-motivated and flexible.
• Strong attention to detail.
• Able to work independently and as part of a team.
• Able to effectively manage multiple projects of varying complexity.
• Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability.
• 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, MS Office).

Nice To Haves

• Knowledge of Python, VBA, and/or other programming languages is a plus.

Responsibilities

• Ensure appropriate risk frameworks are in place to control market risk and that processes exist to monitor against limits.
• Maintain continuous awareness of the risk profile of the Fixed Income business and market developments that may impact the business.
• Provide timely and accurate market risk updates to senior management.
• Ensure the integrity of risk metrics and limit monitoring and resolve violations of market risk limits.
• Perform due diligence in the onboarding of new products and initiatives, including risk assessment and risk capture.
• Work with technology and business support groups to design and improve risk models to capture risks originating from Fixed Income trading.
• Develop and enhance portfolio risk and stress testing.
• Ensure compliance with all market risk regulatory requirements.
• Contribute to Enterprise Risk Management exercises and reporting.

Benefits

• Medical
• Dental
• Vision
• Health Savings Account
• Life Insurance
• Disability
• Other Insurance Plans
• Paid Time Off (including Sick Leave, Parental Leave, and Vacation)
• Holidays
• 401(k)
• competitive salary
• incentive pay
• banking benefits
• a benefits program
• a 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

What This Job Offers

• Job Type: Full-time
• Career Level: Director
• Education Level: Associate degree