Director, Petroleum Engineer

Canadian Imperial Bank of Commerce•Houston, TX

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: Risk Management is led by the Senior Executive Vice-President and Chief Risk Officer (SEVP & CRO) and is accountable for the independent oversight of risks inherent in CIBC’s activities and for the leadership and management of CIBC’s Risk Management department. The US Risk Management function conducts the mandate of CIBC Risk Management at the regional level, ensuring compliance with applicable Parent Bank policies, while complying with local laws and regulations governing the Region and its individual legal entities. Enterprise Risk Management, US Region develops, implements, and maintains a risk management governance framework and related policies and procedures for the US Region and its individual legal entities. This involves the regional implementation of global CIBC programs, where applicable, and includes US Risk Management Framework and Policies, Risk Governance, Risk Appetite, Independent Oversight and Effective Challenge, Identification of Material and Emerging Risks, Reputational Risk, Strategic Risk, Model Risk Management, Petroleum Engineering, Collateral Evaluation Services Group and Environmental and Social Risk Management. How You’ll Succeed: The PE is a knowledgeable and experienced petroleum engineering professional responsible for analyzing and assessing third-party reserve reports, lease operating statements and other data to determine the underlying collateral value and advance rate of proven oil and natural gas assets supporting Reserve Based Loans (“RBLs”). The role applies leadership skills and technical expertise to determine the loss given a default rating and assess the cash flow repayment profile of the borrower. The PE exercises a high degree of independent judgement to prepare evaluations for existing and prospective corporate banking customers. The PE supports the delivery and maintenance of the “Petroleum Engineering Department US Engineering Reserve Based Lending Procedure Manual”, which outlines the guidelines for CIBC’s collateral valuation procedures and methodology.

Requirements

The successful candidate will possess superior verbal and written communication skills.
Successful candidates must exhibit CIBC’s values of trust, teamwork, and accountability
Candidate must have 10+ years of domestic oil and natural gas evaluation experience, preferably with a financial institution, exploration & production company or engineering consulting firm
Expertise in economic evaluations of exploration, development and exploitation properties
Familiarity with major resource plays in the United States
Excellent oral and written communication skills
Strong leadership skills and an ability to manage a team
Excellent research skills and analytical capabilities
Strong relationship management and interpersonal skills
Superior time management skills, with ability to effectively prioritize

Responsibilities

Evaluate corporate reserve reports with a view to establishing an independent lending value that is in adherence to CIBC’s lending guidelines, independently of the loan production and credit approval functions.
Assess the quality of the client’s, or prospective client’s) asset quality, experience and competence of a their technical team, and the reasonableness of their business strategy.
Utilize industry software (e.g. Aries) to confirm client reserve assessments.
Review the technical and economic input parameters to the client reserve report to ensure compliance to historical data.
Deliver corporate cash flow projections using CIBC’s standard templates incorporating economic assumptions such as production forecasts, reserves, commodity prices, operating costs, and discount rate.
Prepare evaluations for credit applications that contain an independent assessment of an appropriate lending value, and the risks and merits of the client and their asset portfolio
Provide input for CIBC’s price forecasts for oil and natural gas at least semi-annually or as market conditions dictate.
Compile semi-annual portfolio analysis.
Support US Corporate Solutions Group with commodity derivative (hedging) analysis.
Provide input and analysis to Institutional Structuring and Securitization Group for deals supported by oil and natural gas collateral.

Benefits

At CIBC, we offer a competitive total rewards package.
The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component.
CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.
Candidates hired to work in other locations will be subject to the pay range associated with that location.
Additional total compensation and benefits details will be provided during the hiring process.
At CIBC, your goals are a priority.
We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential.
We aspire to give you a career, rather than just a paycheck.
We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.