Director, Trading Floor Market Risk Management – Equity and FX
CIBC in Toronto, ON
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Capital Markets Risk Management (CMRM) is led by the Executive Vice President and Chief Risk Officer, CMRM, who is accountable for identification, management and control of the risks taken by CIBC Capital Markets. Within CMRM, Trading Floor Market Risk Management is responsible for Market Risk oversight, monitoring and control of the market risk across CIBC Capital markets' Trading portfolios. The group is also responsible for ensuring the proper risk capture for the respective business lines, working with various Capital Markets Risk team on the Capital model enhancement and Regulatory strategic initiatives, and for developing robust process and infrastructures to support the addition of new products approved within the CIBC trading business lines, in a manner consistent with the needs of both Risk and affected businesses.
What You'll Be Doing
In this role you will be managing market risk and will provide risk oversight for our Equity and FX trading desks. Your key responsibilities include understanding the desk trading and hedge strategies, providing the effective risk challenges to the trading desk; daily position/risk monitoring and PnL/risk explain on the change and risk drivers. You will assist the Senior Director, Market Risk in delivering timely and accurate risk and product analysis to the senior management team. You will provide leadership in the risk measurement enhancement projects and Regulatory strategic initiatives (FRTB) for your respective business line. You will work closely with partners in Capital Markets Risk, Capital Markets (Traders), Technology and Finance to ensure sound risk management and measurement, efficient communication and to assist on process enhancements. Furthermore, you will work closely with Quantitative Risk Management to continuously enhance existing models.
How You'll Succeed
- Problem solving and Communication: You will ensure effective and timely communication of the desk PnL and risk change explain, closely monitor the desk trading activities and limit utilization, in doing so help limit CIBC's exposure to these risk factors.
- Domain Knowledge - You will have a solid understanding of Capital Markets activities/products, valuation &risk model and risk sensitivities with a focus on Equity and FX derivatives and continue to grow your knowledge of Market Risk measurement and management. You will be the front line risk manager with the product and market risk expertise who can provide the leadership on the risk explain, key initiatives and guidance to other functional teams on the desk strategy, positioning and PnL drivers. You will have a good understanding of the EQ & FX markets and the risk impact/implication from the key economic data and events and you will be familiar with pertinent regulatory requirements (existing and emerging), and maintain the rigorous standards for risk analysis, strategic thinking and process documentation.
- Relationship Building: Capital Markets trades touch many different groups, and as such you will need to develop excellent relationships with these groups, from traders to sales staff to marketers in front office, to Quantitative analysts, Finance , Market Risk Solution as well as Limit Monitoring Group. It is vital to be able to maintain clear, concise lines of communication which each, keeping in mind your role as a 2 nd line of defense with its requirements for artifacts and oversight.
Who You Are
- You have a degree/diploma in Master or University degree on Quantitative Finance, Statistics, Math or Engineering background with 5 year of experience on the EQ/FX market risk or trading and you have programming and database skills ( e.g. VBA, SQL, R and Python and Bloomberg API)
- You're passionate about people. You find meaning in relationships, and surround yourself with a diverse network of partners. You build trust through respect, authenticity and accountability - to your team and CIBC.
- You give meaning to data. You enjoy investigating complex problems, and making sense of information. You're confident in your ability to communicate detailed information in an impactful way.
- You understand that success is in the details. You notice things that others don't. Your critical thinking skills help to inform your decision making.
- You act like an owner. You thrive when you're empowered to take the lead, go above and beyond, and deliver results - both within our department and across the broader CMRM team.
- 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, our people are our greatest asset. You'll become part of a diverse community that acknowledges everyone's unique talents, and empowers teams to do what's right for the client, and to do it well. As part of our team, you will:
- Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and at home
- Connect : Work in a place where the right technology and infrastructure fosters innovation, collaboration and creativity
- Develop: Grow your skills and career through our best-in-class onboarding experience, ongoing learning opportunities, individual development planning, and comprehensive product training
- Prosper: Share in our collective success with a competitive salary, incentive pay, banking benefits, health benefits program, and employee share purchase plan
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 during the application or interview process, please contact email@example.com
- You need to be legally eligible to work in Canada at the location(s) specified above and, where applicable, must have a valid work or study permit
- This is a regular full time role with a schedule of 37.5 hours each week. Your hours will be based on our banking centre operations, and you may need to work days, evenings and weekends
- This role is based in downtown Toronto with minimal travel requirements