Head of Portfolio Oversight
1 month ago
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CIBC Private Wealth Management (“PW”) conducts an investment advisory and fiduciary business, which focuses primarily on serving a select group of wealthy individuals, families, foundations and endowments. CIBC’s US PW business is conducted through three primary entities, CIBC National Trust Company, N.A., an OCC licensed limited purpose trust company, CIBC Private Wealth Advisors, Inc., an SEC registered investment advisor, and CIBC Delaware Trust Company, a limited purpose Delaware trust company. PW has a national footprint in the U.S., with teams of wealth management professionals in 17 major cities. PW is a wholly owned subsidiary of CIBC (NYSE: CM), a leading global financial institution based in Toronto, Ontario, Canada.
JOB PURPOSE
The Head of Portfolio Oversight is a senior role on the investment team responsible for design, implementation and oversight of, the trade order management function of centrally managed equity and fixed income strategies. Separate account assets under management are approximately $45 billion. The incumbent will also be responsible for leading the investment oversight program and associated procedures, controls and reporting related to the Regulation 9 investment review process and the administration of the investment compliance restrictions and rules for client portfolio management. This role will entail process enhancements, monitoring and oversight to ensure that client investment portfolios are invested in accordance with the client investment policy statement and decisions of the Investment Policy Committee.
KEY ACCOUNTABILITIES
Lead a team of investment professionals and specialists to implement an effective operating model to execute strategy implementation investment oversight functions efficiently and effectively
Oversee the trade order management process for separately managed accounts across the firm
Develop and implement investment oversight and monitoring processes to ensure compliance with regulatory requirements and internal policies and procedures
Develop appropriate metrics and reporting processes to provide investment management insight through consistent data and timely analytics meeting a variety of needs (board reporting, management reporting and any client reporting inquiries)
Conduct regular reviews and assessments of investment activities to identify potential issues and recommend corrective actions
Maintain strong relationships with regulatory authorities and external partners to stay updated on industry best practices
Serve key investment governance role as member of investment policy, trading practices, investment review oversight, mutual fund oversight, and proxy voting committees.
Work on cross-functional investment team initiatives to expand investment platform offering, as appropriate
CROSS-FUNCTIONAL RELATIONSHIPS
Frequent contact with senior leadership and executives across the organization.
Key internal relationships with partners: Operations, Fiduciary Administration, Chief Administrative Officer, Relationship Managers, Compliance, Portfolio Managers, and Traders.
COMPLIANCE REQUIREMENTS/RESPONSIBILITIES
As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.
For People Managers: As a manager of people, this job must ensure all employees within the business unit comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.
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:
Following all aspects of the CIBC Code of Conduct, as well as all applicable CIBC policies, frameworks, guidelines, processes and controls
At all times acting in accordance with our Purpose and shared values, to achieve our Bank’s strategic goals
Understanding and following the qualitative and quantitative components of our Risk Appetite Statements
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
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
Speaking up if witnessing behaviors that drive poor or unfair outcomes for clients, team members or other stakeholders
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
Bachelor’s degree in finance or other business related field. Advanced degree or designation preferred (e.g., MBA, CFA)
Proven experience in investment management, risk assessment and compliance in the banking sector
Strong knowledge of investment products, regulatory requirements, and investment operations
Excellent analytical skills and attention to detail to evaluate investment and trading processes
Effective communication and leadership abilities to interact with diverse stakeholders
Ability to work under pressure and make timely decisions in a fast-paced environment.
WORKING CONDITIONS
·This role operates within a normal office environment
Travel required: Occasional
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*, 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
What you need to know
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
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
.
We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, French proficiency, 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 - 181 W Madison
Employment Type
Regular
Weekly Hours
40
Skills
Analytical Thinking, Financial Analysis, Fixed Income Investments, Fixed Income Strategies, Group Problem Solving, Income Strategies, Investment Products, Large Group Presentations, Researching, Research Reporting, Wealth Management
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