Senior Director, Pension and Insurance Risk

CIBC • Toronto, ON

7d • Hybrid

About The Position

Risk Management plays an important role in supporting CIBC’s core purpose by providing independent oversight of risk across the bank’s transactions and activities. As the Senior Director, Pension & Insurance Risk, you’ll lead independent second-line oversight across pension and insurance risk, bringing together actuarial, investment, and governance expertise to support sound risk management and decision-making. You’ll oversee risk monitoring, stress testing, reporting, and effective challenge across CIBC’s pension plans and insurance business, while escalating material issues to senior management and relevant committees as needed. In this role, you’ll help promote transparency in risk-return decisions, support the development and oversight of risk frameworks and limits, and provide insight on regulatory developments and emerging risks. You’ll also work closely with partners across Risk Management, Insurance, Finance, Treasury, Human Resources, CIBC Global Asset Management, and external advisors. As a leader, you’ll build team capability, foster an inclusive and high-performing environment, and align your team’s priorities to broader business objectives. At CIBC we enable the work environment most optimal for you to thrive in your role. You'll have the flexibility to manage your work activities within a hybrid work arrangement where you'll spend 2-3 days per week on-site, while other days will be remote.

Requirements

• Deep actuarial and risk expertise.
• Significant experience in insurance, pensions, actuarial science, or risk management, with a strong understanding of risk oversight, financial markets, and investment strategies.
• Ability to assess highly technical issues and communicate complex information clearly and effectively to a range of audiences, including senior leaders and committees.
• Ability to connect related issues, identify emerging risks, and apply an enterprise-wide perspective to support informed and balanced decision-making.
• Experienced people leader with the ability to build capability, create accountability, and support high performance while fostering an inclusive, collaborative team environment.
• University degree in Actuarial Science, Business, Finance, Risk Management, or a related field.
• At least 10 years of relevant experience.

Nice To Haves

• A Fellow of the Canadian Institute of Actuaries (FCIA) or Fellow of the Society of Actuaries (FSA) designation is preferred.

Responsibilities

• Provide independent second-line oversight and effective challenge across pension and insurance risk, including actuarial, investment strategies, capital, pricing, asset-liability management, and regulatory considerations.
• Oversee risk modelling, stress testing, ongoing monitoring, and reporting activities, and escalate material issues and emerging concerns to senior management and relevant committees in a timely manner.
• Develop, enhance, and maintain risk frameworks, limits, and governance practices that support transparency and balanced risk-return decision-making across pension and insurance activities.
• Participate in business initiatives and committee discussions by providing independent review, effective challenge, and clear risk perspectives on key decisions affecting CIBC’s pension plans and insurance business.
• Collaborate with internal partners including Insurance, Finance, Treasury, Human Resources, CIBC Global Asset Management, and external actuaries and investment consultants to support effective oversight and integrated risk management.
• Build an engaged, accountable, and high-performing team through clear direction, coaching, development opportunities, timely feedback, and a workplace culture grounded in CIBC’s mission, vision, and values.

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

What This Job Offers

• Job Type: Full-time
• Career Level: Senior