Sr. Director, Trading Credit Risk

CIBC•New York, NY

4d•$225,000 - $275,000•Onsite

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. The SD, Private Credit is accountable to the Senior Director, NBFI Trading, Trading Credit Risk for the overall management, leadership, oversight and performance of counterparty credit risk (CCR) function as it relates to Private Credit lending. This role will have oversight of Trading, Financing and/or Lending facilities for private credit counterparties. This accountability is to be achieved through the development and implementation of strategies, policies, procedures and practices designed to manage and control the counterparty credit approval process, credit quality targets and the general functioning and integration of the Credit groups. The incumbent has significant authority for the adjudication of credit facilities covering private credit funds under Non-bank Financials, and may also extend to other NBFI counterparties including some or all of Banks and Sovereigns, Central Clearing Counterparties (CCPs), Governments and Public Sectors. This is a critical function requiring a combination of credit skills, people skills, extensive practical experience and trading product knowledge. Partnership with the business heads at the most senior level is essential. The designated portfolios cover regions globally in Canada, US, Europe & Asia Pacific. Within the overall management responsibilities of the position, the incumbent interfaces with the Global Markets and Corporate Banking teams in Canada, US, Europe & Asia Pacific, as well as other areas within Risk Management and external auditors and regulators as required. The incumbent also provides (i) direction to senior CCR managers on accounts within their Delegated Approval Authority (DAA) (ii) authorizes accounts within the incumbent’s DAA, (iii) provides recommendations to the Senior Vice President or Executive Vice President on accounts in excess of the incumbent’s DAA (iv) provides advice to the Bank’s senior executives on industry-related matters, and (v) works closely with line management counterparts concerning formulation and achievement of their business and financial plans.

Requirements

Comprehensive knowledge of private credit products and structures and how they work in practice; necessary to ensure that the various credit and counterparty credit risks of often complex products and transactions are identified, understood and appropriately articulated and adjudicated.
Knowledge of loan evaluation, marking and structuring – particularly in BSL/MML or leverage finance.
Knowledge of credit and CCR products, their appropriateness for different customer needs, risk factors, and profitability potential.
Broad and deep knowledge of various industries given the diverse client base, with specialist knowledge of certain industries, examples would include Pensions, Hedge Funds, Asset Managers, Insurance and Broker Dealers. This knowledge is critical to ensure appropriate adjudication of complex clients and their credit risks.
Detailed working knowledge of CIBC operations sufficient to apply, adapt and modify practices and processes in response to the changes affecting the delivery of products and services.
Extensive working knowledge of external financial and regulatory environment, specifically as it relates to other financial institutions and foreign governments, from a risk perspective.
Advanced presentation/interactive skills to convey complex conceptual information/ideas on issues requiring extensive interpretation and opinion.
Extensive working knowledge of external financial and regulatory environment, specifically as it relates to private credit industry.
Cooperative entrepreneurial team player with mature judgment, strong interpersonal skills and original approaches to problem resolution.
Well-developed influential skills sufficient to apply in situations involving significant promotion/ negotiation on CIBC’s behalf.
Excellent writing skills sufficient to prepare interpretative, analytical and creative materials involving precise articulation of ideas and opinions.
Problem solving skills sufficient to select and modify general approaches and solutions suitable for given problems or issues.
Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability.
Analytical Thinking
Capital Markets
Credit Risks
Financial Markets
Group Problem Solving
Long Term Planning
People Management
Risk Management
Risk Monitoring
Risk Profile

Nice To Haves

Extensive practical experience and trading product knowledge.
Ability to demonstrate to clients high degrees of competency, people skills and knowledge is an absolute requisite.

Responsibilities

Overall management, leadership, oversight and performance of counterparty credit risk (CCR) function as it relates to Private Credit lending.
Oversight of Trading, Financing and/or Lending facilities for private credit counterparties.
Development and implementation of strategies, policies, procedures and practices designed to manage and control the counterparty credit approval process, credit quality targets and the general functioning and integration of the Credit groups.
Adjudication of credit facilities covering private credit funds under Non-bank Financials, and potentially other NBFI counterparties including Banks and Sovereigns, Central Clearing Counterparties (CCPs), Governments and Public Sectors.
Partnership with business heads at the most senior level.
Interfacing with Global Markets and Corporate Banking teams globally, as well as other areas within Risk Management and external auditors and regulators.
Providing direction to senior CCR managers on accounts within their Delegated Approval Authority (DAA).
Authorizing accounts within the incumbent’s DAA.
Providing recommendations to the Senior Vice President or Executive Vice President on accounts in excess of the incumbent’s DAA.
Providing advice to the Bank’s senior executives on industry-related matters.
Working closely with line management counterparts concerning formulation and achievement of their business and financial plans.
Recommendation, and upon approval, implementation of sound credit policies and practices.
Excellent judgmental decision-making within their DAA.
Effective management of higher risk or deteriorating credits.
Accumulation and communication of relevant industry knowledge.
Informed direction provided to senior credit risk managers concerning accounts within the overall portfolio.
Assistance provided to the Senior Vice President and to line management counterparts in the identification and pursuit of opportunities, and identification and avoidance of excessive risks in managing the overall portfolio of assigned industries.
Keeping the Senior Vice President and Credit Committee apprised of significant developments in industries within the designated portfolio, making written and oral presentations to Credit Committee concerning these developments, as required from time to time.
Ensuring that both senior risk managers and specialist line officers having responsibilities related to the designated portfolio are regularly provided with the incumbent’s analysis of the prevailing conditions of, and prospects for, the relevant industries.
Ensuring that risk ratings are objective, transparent and reflective of each transaction’s risk profile.
Ensure all aspects of the Bank’s Global Reputation and Legal Risk Policy are met.
Provide and be perceived as providing professional stewardship of the Bank’s credit risk and CCR analysis.
Provide quality service to all CIBC business units with respect to their management of the relevant credit risk and CCR portfolios.
Achieve and apply relevant effective industry expertise and industry forums.
Establish and recommend various product or client related credit policies which establish and shape the strategies of the various client businesses.
Provide expert input and assist in the development and maintenance of risk rating models.
Provide management, leadership, and responsibility for the management of counterparty credit risk and financing functions globally as it applies to NBFI-Private Credit.
Adjudicate counterparty credit facilities and transactions covering sophisticated derivative users such as private credit funds, hedge funds, pensions, insurance companies, and sovereigns.
Cover liquidity providers such as Banks, Dealers, SPVs, and Central Counterparties (CCPs).
Assist in managing the Global Markets Financing – Risk Operating Framework which has risk oversight across the financing activities of Global Markets including the repo, loan warehouse/CLO, securitization (covering CIBC’s conduits and credit portfolio), securities lending, equity derivative, prime brokerage, securitization and commodity/metals businesses.
Shaping/influencing business strategies and strategic planning: Work in partnership with various businesses to ensure that the intended products, transactions or client bases are commensurate with the firm’s counterpart credit risk appetite and that individual business strategies reflect such.
Establish in consultation with key Business and Risk Management executives, key performance metrics that measure credit quality for the various portfolios.
Internal and external business development/client service: Interact directly with external clients when issues of confidentiality or product knowledge and credit skills require such contact.
Risk Management: Ensure effective management of credit risk and CCR for the various portfolios through identification, measurement and monitoring in line with the Bank’s risk policies and standards.
Develop credit policies and standards for various client segments, for example, Private Credit funds, Hedge Funds, Pension Funds, Sovereigns, Insurance Companies, Asset Managers, Prime Brokerage, Broker Dealers, Banks and various others.
Ensure that the appropriate credit facilities are written and adjudicated.
Understand the trading floor credit needs.
Ensure compliance with all applicable CIBC and Line of Business policies, guidelines and controls.
Receive delegated approval authority for credit adjudications and portfolio management, from the Senior Vice President, Trading Credit Risk.