Senior Director, Head of Fixed Income Market Risk

Posted 25 January 2024

Senior Director, Head of Fixed Income Market Risk at CIBC

Risk Full-time Toronto

Experience: Senior-Level
Salary Range: Not Specified

Close date: 24 March 2024

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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.

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Position Description

What you’ll be doing

The Senior Director, Head of Fixed Income Market Risk has the mandate to lead the groups responsible for the ‘second line of defense’ governing the following areas of oversight: Global Fixed Income Trading Risk, Interest Rate Derivatives, Bond Trading, Money Markets, and Structured Rates Trading. Additionally, the Senior Director, Head of Fixed Income Market Risk also has the mandate to mentor the Capital Markets Risk Management (CMRM) Reporting and Analytics team, which covers portfolio based reporting and analytical insights for the broader Capital Markets trading businesses.

You will actively partner with Capital Markets trading desks, other CMRM Risk colleagues, core strategic business units (SBUs) and other infrastructure groups to produce key reports and metrics for senior leadership and regulators to measure and validate CIBC’s trading book risks – including regulatory measures such as VaR/ES, Stress Testing and Capital, as well as non-regulatory measures such as scenario analysis, global portfolio analysis and profit and loss (P&L) attribution. You will among other duties, participate and co-ordinate the risk management governance of daily market risk limits, new trade analysis, assessment of backtesting results, have signoff for new products, attest to CDOR submission oversight, and ensure adherence to monthly and quarterly controls around regulatory risk measures.

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 1-3 days per week on-site, while other days will be remote.

How you’ll succeed

  • Strong leadership – You will take a leadership role in overseeing the 2nd line of defense for global fixed income market risk, ensuring adherence to controls, risk management principles and continued development of comprehensive processes to manage risk.
  • Relationship building – You will work with individual traders, trading desk heads and infrastructure units to ensure their understanding and commitment to evolving risk management methodologies. This will include training and learning for infrastructure and trading colleagues on upcoming changes to market risk methodologies.
  • Teamwork and partnership – You will actively co-ordinate the implementation of systems and processes for the measurement and monitoring of market risks in Capital Markets trading desks, and also globally.
  • Talent development – You will take the initiative to mentor junior and senior market risk analysts and be instrumental in developing their market and risk management knowledge and practical skills.

Required Skill / Experience

Who You Are

  • You can demonstrate experience. Minimum 5+ years of Trading and/or market risk management for interest rate derivatives and fixed income securities including options and complex products. A deep understanding of these markets, liquidity, pricing and P&L attribution is highly advantageous as well.
  • ​It is an asset. You have advanced knowledge of the Canadian and international interest rate (IR) derivatives markets, including practical knowledge of our market rates and specialized products, as well as quantitative modelling experience and data driven approaches to risk management concepts.
  • You’re a certified professional. You have a University degree in Finance, Mathematics, Physics, Engineering or related discipline. A CFA/FRM/PRM designation is an asset.
  • You are a caring and accountable leader. You have experience developing and implementing strategic team goals. You have experience coaching employees and inspiring successful team performance.
  • You give meaning to data. You enjoy investigating complex problems and making sense of information. You communicate detailed information in a meaningful way.
  • You know that details matter. You notice things that others don't. Your critical thinking skills help to inform your decision making.
  • Values matter to you. You bring your real self to work and you live our values – trust, teamwork and accountability.
What CIBC Offers

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*, defined benefit pension plan*, an employee share purchase plan, 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.

    *Subject to plan and program terms and conditions

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