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The U.S. Region of Canadian Imperial Bank of Commerce (“CIBC”) is focused on deepening client relationships by delivering a full range of financial products and services to CIBC’s clients in the U.S. Region. The U.S. Region is largely focused on middle market Commercial Banking for Commercial and Commercial Real Estate clients (through CIBC Bank USA), Capital Markets (through CIBC World Markets Corp. and the New York Branch of CIBC) and Private Wealth Management (through CIBC Private Wealth Advisors, Inc., CIBC National Trust Company and CIBC Delaware Trust Company). The U.S. Finance team is responsible for supporting both the combined U.S. operations of CIBC (US GAAP, legal entity-based financials) as well as the U.S. Commercial & Wealth Management strategic business unit of CIBC (IFRS, management reporting-based financials).

JOB PURPOSE

The Assistant Controller, U.S. Region, will be accountable to the Vice-President, Corporate Controller and Chief Accounting Officer, U.S. Region, for providing, alongside an existing Assistant Controller, U.S. Region, additional leadership and oversight of a portfolio of teams and subject matter areas within the U.S. Finance—Controllership group for the combined U.S. operations of CIBC. The primary objective of the U.S. Finance—Controllership group is to ensure accurate, complete and timely accounting records and financial reports (statutory and regulatory) in accordance with U.S. generally accepted accounting principals and internal accounting policies and the CIBC governance and control framework. The position will play an important role with respect to U.S. Finance interactions with internal audit, external auditors and U.S. regulatory bodies. The role will have management responsibility in the U.S. Region over the SOX/ICFR Governance Office and the Quality Assurance over Regulatory Reporting function, and also will be responsible for collaborating on a frequent basis with the Capital Markets Product Control and Private Wealth Product Control functions with respect to internal controls, financial and regulatory reporting matters and new products/initiatives to ensure a strong and consistent governance and control environment.

KEY ACCOUNTABILITIES

Internal Controls Over Financial and Regulatory Reporting

• Establish and maintain a control environment that is consistent with CIBC’s needs and the requirements of the regulators and auditors for the combined U.S. operations.

• Manage the U.S. Region SOX/ICFR Governance Office to ensure a robust internal control over financial and regulatory reporting environment that adapts to new business products and initiatives, new or changed transactional or reporting systems that impact financial and regulatory reporting, and changed regulatory guidance or auditor expectations with respect to design and operating effectiveness of internal controls.

• Serve as the U.S. Finance—Controllership team’s point person/relationship manager with internal audit and external auditors with respect to the SOX/ICFR program, control testing matters and deficiency management and resolution.

• Lead U.S. Region-wide training and awareness for SOX/ICFR control owners with respect to program matters, current developments, changes in requirements and expectations, etc.

Quality Assurance Program for Regulatory Reporting

• Manage the team executing the Quality Assurance Program for U.S. Regulatory Reporting, which is an independent function designed to validate the completeness and accuracy of the combined U.S. operation’s high-risk regulatory reports (e.g., FFIEC 031, FR Y-9C, FR Y-15, FFIEC 002, etc.).

• Serve as the U.S. Finance—Controllership team’s point person with internal audit and regulatory agencies with respect to their review of the Quality Assurance Program.

• Facilitate coordination and collaboration between the SOX/ICFR Governance Office and the Quality Assurance Program function to ensure efficiency between control design and testing work related to financial and regulatory reporting.

Collaboration with Product Control Functions for Capital Markets and Private Wealth Management

• Collaborate on a frequent basis with the Capital Markets Product Control and Private Wealth Product Control functions with respect to internal controls, internal audit management, financial and regulatory reporting matters and new products/initiatives to ensure a strong and consistent governance and control environment over the Capital Markets and Private Wealth Management businesses within the U.S. Region.

Policy & Procedure Management

• Collaborate with the U.S. Finance Centralized Governance & Controls team to the Controllership group has adequately documented key policies and procedures and has formalized processes in place to periodically reassess such policies and procedures and implement new policies and procedures, as appropriate, to address new products/initiatives, new regulatory guidance, etc.

• Stay current on best practices in control design and operation to ensure documentation related to the SOX/ICFR program and other key controls owned by the Controllership group keeps pace with such best practices.

People Management

• Provide leadership and effective management of team members within the assigned subject areas to influence commitment to the organization, to the team and to their job.

• Set appropriate context when assigning work to ensure that individuals’ roles support the achievement of the group’s priorities and CIBC’s overall goals.

• Build team and individual capabilities by providing development opportunities.

• Management performance by providing fair and accurate formal and informal feedback, identifying and removing obstacles to performance and by explaining how performance expectations align with business priorities.

CROSS-FUNCTIONAL RELATIONSHIPS

• SOX/ICFR Control Owners – Oversee communication with SOX/ICFR Control Owners with respect to program matters, current developments, changes in requirements and expectations, etc.

• Internal Audit – Serve as primary senior point person with the ICFR Testing Team within Internal Audit to oversee timely and robust testing on behalf of management. Facilitate interactions between ICFR Testing Team and applicable Control Owners. Interact with Internal Audit teams covering the Capital Markets and Private Wealth businesses

• External Auditors – Serve as the primary senior point person with external auditors with respect to the SOX/ICFR program, control testing matters and deficiency management and resolution. Together with other Assistant Controller, U.S. Region, manage the day-to-day relationship with the external auditors and update Corporate Controller & Chief Accounting Officer, as appropriate.

• U.S. Regulatory Agencies – Interact with U.S. regulatory agencies with respect to examinations and continuous monitoring activities covering the SOX/ICFR control program, financial reporting matters and the Capital Markets and Private Wealth businesses.

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.

• 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.

AUTHORITIES/DECISION RIGHTS

• 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.

• As a manager of people, this job has the authority to assign tasks to employees within their span of control, select individuals for hire, assess individual performance, make employee compensation decisions and take disciplinary measures up to and including termination.

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

• A finance leader and Certified Public Accountant (CPA) with expert knowledge of accounting and auditing standards in the U.S.

• Robust professional experience in the area of SOX/ICFR controls, either within a Big 4 auditing practice or in a large corporate environment, preferably in the financial services industry.

• At least 12-15 years of relevant professional experience, including time spent managing teams.

• Strong knowledge of financial institutions and the U.S. financial services industry, the market and regulatory environment.

• Excellent communication skills in oral and written presentations to communicate information and credible conclusions to senior leaders as well as the U.S. Audit Committee.

• Bachelor’s degree or higher in Accountancy or related field.

• Strong technology skills, including Microsoft Word, Excel and PowerPoint in addition to newer data analytics software, such as PowerBI, Tableau, and/or Alteryx.

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-120 S LaSalle St, 5th Fl

Employment Type

Regular

Weekly Hours

40

Skills

Deliverables Management, Executive Relationship Management, Financial Analysis and Reporting, Financial Consulting, Financial Statements, Governance Reporting, Leadership, People Management, Regulatory Requirements, Risk Assessments

At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.

Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.

Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.