Director, Business Controls

Director, Business Controls

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locations: Chicago, IL

time type: Full time

posted on: Posted 3 Days Ago

job requisition id: 2419142

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

JOB PURPOSE

The Director, Business Controls will support the Office of the Chief Administrative Officer (CAO) strategy through partnership with first line of defense teams to enable effective risk management across CAO activities. In support of the CAO mandate, the Director, Business Controls will assist with development, design and enhancement of internal controls, tracking and opining on remediation of deficiencies and risk issues, reporting incidents, facilitating risk reporting, designing risk training, managing centralized standards and procedures, and other risk management activities designed to identify and mitigate risks. The role is an individual contributor role within the first line of defense.

As the Director, Business Controls, the role will advise stakeholders on policy updates, will support procedure inventory and maintenance, audit/exam support, exception tracking and reporting for activities covered by the Office of the CAO, including Project Management, Strategic Initiatives, Frontline Tools & Enablement, Communications, Centralized Governance & Controls, and Change Advisory.

KEY ACCOUNTABILITIES

Key accountabilities include: promoting sustainable controls deployed by the Office of the CAO, influencing business governance & control strategies, and promoting senior management risk awareness and knowledge through monitoring and reporting. In this capacity, the role supports the Head of US Governance and Controls with the following core accountabilities:

1. Contribute to the identification, documentation and maintenance of key and non-key controls owned/executed by the Office of the CAO;
2. Lead risk assessment efforts (e.g., Risk and Control Self Assessment and Regulatory Compliance Risk Assessment) to identify and measure applicable regulatory and operational risks, which further drive the need for controls;
3. Collaborate with management to understand activities executed across each business, document process and recommend enhancements designed to promote sound risk management;
4. Review changes and promote adherence to applicable policies, standards and guidelines issued by Independent Risk Management and Control Groups;
5. Escalate and report data, fraud, and privacy incidents and work with management to document root cause analysis, and coordination remediation, where applicable;
6. Design and deliver risk reporting to enable leadership team to assess and effectively manage risks unique to each activity;
7. Manage quarterly attestation cycle to facilitate timely and accurate execution, in conformance with applicable requirements;
8. Work with management to develop remediation action plans designed to address control vulnerabilities and enhancements and perform sustainability testing and effective challenge;
9. Document and support ongoing compliance monitoring, where applicable;
10. Create, review and modify training curriculum designed to promote awareness of business risk management accountabilities;
11. Identify and deploy centralization opportunities to enable efficiencies across the business and promote alignment in risk management practices;
12. Serve as liaison to review new requests for information (RFIs) and vet materials in connection with assurance including Internal Audit, Regulatory exams, 2LoD testing, etc.;
13. Participate in annual refresh of Risk Appetite Statement (RAS) and non-RAS business metrics;
14. Support compliance with the records management program;
15. Participate in special projects as needed.

CROSS-FUNCTIONAL RELATIONSHIPS:

1. Cultivate relationships with CAO management, program managers, client experience leaders, Independent Risk Management, Technology, Infrastructure & Innovation (TI&I) and Governance & Controls teams to promote collaboration and coordination and ensure alignment with strategy.
2. Engage with lines of business (LoBs), support functions, and infrastructure teams to understand and assess current controls, processes, and documented procedures (current state process mapping) and desired end state (future state process mapping and procedures).

COMPLIANCE REQUIREMENTS/RESPONSIBILITIES

1. As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.

AUTHORITIES/DECISION RIGHTS

1. As a key contributor to the business unit, this job has the authority to recommend changes to business processes in order to enhance operational efficiency and effectiveness.

CONDUCT & CULTURE RISK

Our CIBC risk culture is based on employees striving to exceed the expectations of ourselves and our leadership’s identification and mitigation of risks in their daily responsibilities, not just in quarterly or annual monitoring/assessments. We all are accountable for managing risk.

As an employee of CIBC the incumbent must conduct themselves (and foster an environment for others) in a manner consistent with our strong risk culture. This includes:

1. Utilizing Control and Deficiency framework and project management methodology throughout issue lifecycle
2. Following all aspects of the CIBC Code of Conduct, as well as all applicable CIBC policies, frameworks, guidelines, processes and controls
3. At all times acting in accordance with our Purpose and shared values, to achieve our Bank’s strategic goals
4. Understanding and following the qualitative and quantitative components of our Risk Appetite Statements
5. Completing all annual Corporate Mandatory Training and Testing modules, as well as any additional business-specific modules, as required and employing the learnings in daily activities and undertakings
6. Escalating matters through one of the appropriate channels identified in the CIBC Code of Conduct (i.e., HR, management, Ethics Hotline, Whistleblower, etc.) upon observing activities that may be inconsistent with CIBC’s policies, frameworks, guidelines, processes and controls
7. Speaking up if witnessing behaviors that drive poor or unfair outcomes for clients, team members or other stakeholders
8. Escalating matters that can result in adverse market practices and outcomes, thereby negatively impacting CIBC’s reputation as a leading financial institution

KNOWLEDGE AND SKILLS

1. 7-10 years of experience in compliance, risk, project management, audit or governance role in a financial services organization
2. Strategic thinker with prior management experience

1. Bachelor’s degree, ideally in Business, Management, Audit, Legal or related field required
2. Highly motivated, self-starter; able to work in a fast paced, results driven environment, and comfortable working in non-routine situations
3. Strong interpersonal, written, verbal and presentation skills; ability to articulate complex issues concisely and communicate effectively and comfortably with senior leadership
4. Excellent relationship building and stakeholder management skills
5. Ability to execute tasks under aggressive targets and effectively manage to change in plan
6. Strong initiative, energy and confidence completing projects with limited supervision

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.

1. 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.
2. 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.
3. 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

What you need to know

1. CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
2. You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.
3. We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.

Job Location: IL-120 S LaSalle St

Employment Type: Regular

Weekly Hours: 40

Skills: Business Controlling, Communication, Corporate Governance, Identifying Risks, Leadership, Problem Solving, Regulatory Compliance, Risk Management, Risk Profile, Team Development, Technical Knowledge