Head, U.S. Institutional Distribution (CIBC Global Asset Management)

CIBC•Boston, MA

1d•Hybrid

About The Position

CIBC Global Asset Management (GAM) is one of Canada's largest asset management firms with approximately $350 billion in assets under management and over forty-five years of experience designing and implementing client solutions. They are leaders in providing a broad range of high-quality global investment management solutions to institutional clients, including pension funds, endowments, insurance funds, private wealth management, and CIBC family of mutual funds and managed portfolio solutions. The company's philosophy is based on the CIBC values of Trust, Teamwork, and Accountability, achieving results through an in-depth disciplined investing approach based on rigor and research. The Head, U.S. Institutional Distribution reports locally to the Chief Growth Officer, CIBC U.S. Private Wealth Management, and functionally to the Senior Vice-President & Global Head of Distribution, CIBC Global Asset Management. This role is responsible for providing strategic direction and leadership for institutional business development activities for CIBC Global Asset Management’s U.S. business, with a focus on the U.S. pension market, U.S. wealth platforms, and U.S. consultants. The position is a player-coach role, encompassing management responsibility for U.S. institutional business development professionals and direct institutional business development coverage, and requires collaborative work with GAM’s Canadian institutional team. CIBC aims to provide an optimal work environment, with specific work arrangements (proportion of on-site and remote work) to be discussed during the interview. Significant travel is required for this role.

Requirements

Undergraduate degree
CFA and/or CIM designations
FINRA Series 7 License
FINRA Series 63 License
10+ years of experience in institutional distribution
Demonstrated capability in developing distribution strategies and proven track record of executing strategies to grow market share
Strong investment knowledge, with extensive experience across all asset classes
Deep and holistic understanding of markets, investments, investment strategy, portfolio management, and investment solutioning
Strong business acumen with comprehensive understanding of the asset management business
Ability to identify attractive business opportunities and implement successful business strategies
High impact, well-respected and well-recognized leader in the institutional asset management industry with a robust network
Proven sales leadership and management experience with a proven track record of business development with institutions
Recognized for overall knowledge within the industry, strategic thinking, sales results, client service and leadership
Transformative leader who has created a shared vision, driven growth, identified new product and distribution opportunities, energized sales and marketing and inspired an organization to new levels of achievement
Proven ability to motivate, develop and engage other professionals
Ability to position and differentiate products and GAM as a company against competing companies, portfolio managers, services and products
Demonstrated experience working with internal partners, including Global Distribution, Product, Marketing & Communications, Client Portfolio Managers, Portfolio Managers, Legal & Compliance, to achieve overall organization/department goals and objectives
Risk-aware with sound awareness of risk and impact on business, and make informed, risk-aware decisions
Understand all relevant CIBC policies, Mutual Fund Sales Practices and relevant regulatory legislation
Ability to understand, conceptualize and implement business processes to ensure successful achievement of accountabilities
Strong communicator with proven ability to influence, collaborate and partner to achieve business success
Strong analytical skills and the ability to interpret market data to inform sales strategies
Thrive in a fast-paced, dynamic environment while managing multiple priorities
Proficient in CRM software and Microsoft Office Suite
Motivated by collective success
Goal oriented
Willing to accept “hands on” work required given the comparatively flat nature of the organization
Exude integrity, embrace a fiduciary culture and act in the best interests of investors
Resourceful, accustomed to working in a matrixed environment where knowledge, talent and resources reside in multiple locations
Legally eligible to work at the location(s) specified

Nice To Haves

A graduate degree in business, finance and/or economics is desired
Preference for candidates who meet registration requirements

Responsibilities

Lead and set clear roles and responsibilities for the U.S. Institutional Business Development Team
Build and manage budget for GAM’s U.S. distribution activity
Collaborate with Canadian Institutional Team, International (non-U.S.) Institutional Team, Client Portfolio Managers, and Portfolio Managers
Act as one of GAM’s principal client-facing representatives in U.S. business
Lead the development of the business development strategy for GAM’s U.S. institutional business and contribute to GAM’s overall institutional strategy, including market sizing and prioritization, regulatory considerations, and vehicle considerations
Define clear objectives for successful execution of strategy
Develop distribution strategies for priority target market segments, regulatory considerations, use of placement agents, and vehicles required
Initiate contact and develop positive relationships with leading institutional investors in target segments
Actively nurture, extend, and build on existing GAM relationships with major field consultants in priority markets
Leverage GAM’s significant intellectual capital, investment research, and Client Portfolio Management, in aid of securing productive, solutions-oriented discussions with institutional investors as well as building the GAM brand and prestige in the U.S. institutional market
Plan and participate in major institutional industry events in the U.S. to increase GAM’s institutional visibility and provide commercially relevant speaking forums for GAM’s thought leaders
Lead the process by which new business prospects move through the stages of the business development cycle, from initial discovery through final presentations, and on to successful commercial engagements, including participation in fee and other final term negotiations
Achieve working comfort with the basic operations of GAM’s RFP, institutional database, and presentations infrastructure (including the ability to access PMAPS and SharePoint software, as well as E-Vestment databases, for simple tasks and information pulls)
Collaborate with CIBC Capital Markets U.S. Team for Capital Introduction
Help oversee relationships with external distribution partners (placement agents/distributors) in priority markets
Actively participate in client coverage team for clients in target coverage markets as local representative
Assist with defining and building out the GAM brand story for U.S. target markets
Work collaboratively with the MD & Head of Canadian Institutional and the Head of Wealth & GAM Marketing to build and enhance the GAM narrative and brand, including sales marketing collateral and client-facing material
Contribute to institutional RFP process and material as it relates to U.S. opportunities
Remain informed of industry trends and competitive landscape within priority markets
Attend and present at industry events and deliver compelling presentations that position CIBC as a thought leader
Continuously monitor and analyze market trends, competitor activities, and regulatory changes in the priority international markets
Provide actionable insights and recommendations to senior management to inform strategic decision-making
Actively solicit and gather feedback from clients and consultants regarding GAM's strategies and solutions
Collaborate with CPM and Product teams to integrate client feedback into capability enhancements and new products, ensuring that client needs are met effectively (voice of the client)
Regularly assess and report on sales performance metrics for the GAM international institutional business
Use a continuous improvement mindset to continually enhance business development process
Maintain detailed activity logs in the CRM system
Work collaboratively with all of the members of GAM to ensure that our firm can distinguish itself through the provision of distinctive, world-class investor solutions, service, and communication
Conduct self as a partner to all professionals of GAM and seek to contribute to the overall business as well as to functional responsibilities
Embrace a continuous improvement approach to the business and proactively seek improvements in both your particular market, as well as across the entire business
Cooperate and collaborate with a variety of colleagues across the firm and enterprise
Strive for “best-in-class” performance standards and instill these high standards within your day-to-day work
Conduct business in accordance with the highest standards of legal and ethical conduct
Be an active contributor to the network and stay connected to the many influencers on the business

Benefits

Competitive total rewards package
Competitive salary
Incentive compensation plan, which also may include a discretionary bonus component
Medical insurance
Dental insurance
Vision insurance
Health Savings Account
Life Insurance
Disability insurance
Other Insurance Plans
Paid Time Off (including Sick Leave, Parental Leave, and Vacation)
Holidays
401(k)
Banking benefits
Wellbeing support
MomentMakers (social, points-based recognition program)
Purpose Day (a paid day off dedicated for you to use to invest in your growth and development)