Director, Legal Commodities

CIBC•New York, NY

7d•$175,000 - $205,000•Onsite

About The Position

CIBC is seeking Commodities Counsel to provide legal and regulatory advice for its physical and financial commodities trading activities. The role supports the Commodities team across energy, metals, power, and environmental products, with emphasis on transaction structure, regulatory analysis, and risk identification. The position is based in New York and reports directly to Senior Counsel, Commodity Finance (US) in CIBC’s US Capital Markets division. The position involves advising on physical commodity transaction documentation and reviewing collateral packages. Counsel will assess and advise on structuring transactions to mitigate risks associated with debtor insolvency, commodity title claims, security interest perfection, and CIBC’s secured creditor status. The role requires knowledge of US commodity derivatives regulation and US bankruptcy principles, as well as the ability to engage and manage external counsel based on business needs and transaction complexity. The successful candidate will advise on commodity trading requirements and processes, including applicable CFTC, FERC, and other regulations, and coordinate legal advice with internal stakeholders across North America and London. Stakeholders include Compliance, trading desks, sales personnel, Credit Risk, and senior business management.

Requirements

JD from an accredited US law school.
Admission to the New York State Bar in good standing.
5 to 7 years of experience as counsel in a top law firm, financial institution, commodity trading firm, or US regulatory or self-regulatory organization in financial services.
Understanding of the U.S. regulatory landscape for the coverage area.
Knowledge of relevant US commodity derivatives regulatory requirements and US bankruptcy principles.
Solid foundation in documentation of physical commodity transactions.
Experience dealing with major physical commodity classes relevant to CIBC, including metals, natural gas, and power.
Strong working knowledge of standard master agreements for physical commodities, including ISDA, NAESB, EEI, associated physical annexes, and credit documentation.
Strong interpersonal skills to maintain working relationships.
Excellent communication, drafting, and negotiation skills.
Ability to coordinate legal advice across internal stakeholders and provide time-sensitive advice.
Values of trust, teamwork, and accountability.

Nice To Haves

Experience advising on U.S. Federal Energy Regulatory Commission (FERC) and ISO/RTO licensing and/or membership requirements and their applicability to commodity transactions.
Working knowledge of emissions trading schemes and documentation of transactions relating to environmental products.
Understanding of the trading book and use of hedging tools, including listed futures contracts, to mitigate risks associated with hedging and client financing activity.

Responsibilities

Provide day-to-day legal coverage for physical and financial commodities trading.
Draft, review, and negotiate commodity financing and hedging agreements, including loans, leases, consignments, prepays, repos, forwards, options, and swaps, as well as supporting security agreements, intercreditor agreements, and guarantee agreements.
Support amendments to existing credit agreements.
Review and advise on commodity storage and transportation agreements.
Advise on enforceability risks associated with agreements.
Advise on CFTC, FERC, and other regulations applicable to commodities trading in partnership with Compliance and Risk teams.
Provide time-sensitive legal advice to sales and trading personnel in CIBC’s US Capital Markets commodities business unit.
Analyze licensing and non-disclosure agreements that may be needed to support the commodities business.
Support new commodity-trading-related initiatives advanced by CIBC’s US Capital Markets commodities business unit.
Review collateral packages and advise on transaction structuring to mitigate insolvency, commodity title, security interest perfection, and secured-creditor risks.
Engage and manage external counsel as needed based on business requirements and transaction complexity.
Advise the business and relevant Compliance teams on implementing applicable requirements and processes.
Coordinate legal advice with internal stakeholders across North America and London, including Compliance, trading desks, sales personnel, Credit Risk, and senior business management.