Chief Compliance Officer, CIBC US Private Wealth

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Strategic Business Unit Description

In support of CIBC’s core purpose: to make our clients’ ambitions a reality, Risk Management is accountable for the independent oversight of risk management inherent to CIBC’s transactions and activities. These risks include but are not limited to ensuring effective processes are in place for the identification, management, measurement, monitoring and control of operational, reputation and legal, strategic, market, credit, investment and liquidity risk, collectively “CIBC Risk”, incurred by CIBC’s businesses, functional and corporate governance groups. US Compliance delivers on the global Compliance mandate by providing timely, proactive advice and independent second line oversight to the US Capital Markets, US Commercial Banking and Wealth Management lines of business. US Compliance supports these lines of business by being proactive advisors, trusted specialists and value-added partners. Together with the lines of business and in line with CIBC’s Risk Appetite Statement, US Compliance works to identify, assess, manage and mitigate regulatory compliance risk to protect CIBC’s reputation and brand, while helping CIBC become a strong, innovative and relationship-oriented bank for a modern world.

CIBC Private Wealth Management (“PWM”) conducts an investment advisory business, which primarily focuses on serving a select group of wealthy individuals, families, foundations and endowments. CIBC’s US PWM business is conducted through three primary entities, CIBC National Trust Company, N.A., an OCC licensed trust company, CIBC Private Wealth Advisors, Inc., an SEC registered investment advisor, and CIBC Delaware Trust Company, a limited purpose Delaware trust company.  PWM has a national footprint in the U.S., with teams of wealth management professionals in 17 major cities.  PWM is a wholly-owned subsidiary of CIBC (NYSE: CM), a leading global financial institution based in Toronto, Ontario, Canada.

What You’ll Be Doing

The PWM Chief Compliance Officer (“CCO”) is responsible for developing, implementing, and maintaining an effective compliance program to address all relevant OCC, SEC, Federal Reserve and Delaware regulatory requirements pertaining to PWM’s business units  The CCO will supervise a staff of Compliance professionals  and will be a member of various PWM governance committees (e.g., Trust Committee, Management Risk Committee, and Operating Committee).    

How You’ll Succeed

The PWM CCO must have a thorough understanding of the Investment Advisers Act of 1940 and OCC and other banking-related regulations pertaining to a trust company.  As part of the responsibility to implement and maintain PWM’s Compliance program, the PWM CCO will be accountable for:

• Developing, implementing, and maintaining a comprehensive compliance program to achieve compliance with SEC, OCC, and state of Delaware rules and regulations;

• Working with the U.S. Chief Compliance Officer and the Director of US Compliance Programs to develop, implement and maintain a comprehensive compliance program to achieve compliance with the Federal Reserve and Bank Holding Company Act regulations;

• Demonstrating strategic thinking and planning to address compliance issues associated with U.S. PWM’s increasingly growing platform;

• Exercising proactive and independent judgment when providing advice to senior management;

• Supervising a Compliance staff to ensure that the Compliance monitoring and testing program is performed in a consistent and timely manner;

• Developing and executing PWM’s Annual Compliance Plan;

• Conducting U.S. PWM’s Compliance risk assessment;

• Establishing and maintaining written policies and procedures designed to achieve adherence with fiduciary, investment advisory, bank and securities regulations and internal Compliance policies;

• Responding to compliance related inquiries, questions and requests from business personnel;

• Assessing, analyzing, and interpreting applicable rules and regulations;

• Collaborating with U.S. Regulatory Affairs to coordinate SEC, OCC, and Delaware examinations of the applicable US PWM legal entities; serve as primary point of contact for any US PWM internal audits and US Complian