at CIBC in Chicago, Illinois, United States
Job Description
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 (https://www.cibc.com/en/about-cibc.html)
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
