Director, Model Validation

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

What you’ll be doing

As Director, Model Validation, you will have the opportunity to conduct an independent validation of CIBC’s analytic models, approaches, methodologies, computations and techniques applicable to CIBC Bank USA financial analytics, in particular, used for calculation of Regulatory Capital, Current Expected Credit Losses (CECL), Stress Testing, and Anti-money laundering (AML) and Fraud Models.

At CIBC we enable the work environment most optimal for you to thrive in your role. You’ll have the flexibility to manage your work activities within a hybrid work arrangement where you’ll spend 1-3 days per week on-site, while other days will be remote. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.

How you’ll succeed

• Problem solving - Review the model's fundamental rationales and assumptions for soundness, as well as the theoretical underpinnings for consistency.

• Technical expertise and testing - Develop an independent benchmark, using suitable programming languages and tools, and then conduct various quantitative/qualitative tests to assess the accuracy, strength and weakness of the model.

• Reporting - Write a validation/vetting report that includes a description and analysis of both model and benchmark approaches, as well as model risk and limitation.

Who you are

• You have a Master’s or Ph.D. degree in one or more of the following: computer science, finance, mathematics, applied mathematics, statistics, economics, and/or econometrics, physics or engineering.

• You possess three to five years of working experience in Anti-Money Laundering, Financial Crime Management, Transaction Monitoring, and Sanctions risk areas.

• You can demonstrate experience and knowledge of: models associated with Anti-Money Laundering, Financial Crime Management, Transaction Monitoring, and/or administering of Sanctions regimes; Regulatory compliance frameworks (SR 11-7 Guidance on Model Risk Management, Bank Secrecy Act, USA Patriot Act, FINCEN regulations, DFS-NY Part 504 requirements); Statistical modelling tools (e.g., SAS, R and Python), strong qualitative and quantitative analytical skills with large data.

• It's an asset if you have a professional certification such as CAMS, CFE, and/or CAFP.

• It's an asset if you experience and knowledge of Econometric/Statistical models, AIRB credit risk models (PD, LGD, EAD), IFRS 9/CECL, Fraud, AML, Scorecards, Adjudication, AI/Machine Learning, Stress Testing.

• You love to learn. You're passionate about growing your knowledge. You maintain up-to-date knowledge with regard to development and changing technology in risk management.

• You’re driven by collective success. You collaborate well in a team, learning from others and applying your skill set. You proactively seek new opportunities to define what’s possible.

• Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability.

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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*, defined benefit pension plan*, an employee share purchase plan, a vacation offering, wellbeing support, and Moment