Director, US Fraud Risk Management

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US Risk Management (RM) is led by the US Chief Risk Officer and is accountable on matters relating to the independent oversight of the management of risks inherent to CIBC’s activities in the US. These risks include, but are not limited, to ensuring that effective processes are in place for the identification, measurement, mitigation and monitoring  of operational, reputation and legal, market, credit, investment and liquidity risk, collectively “CIBC Risk”, incurred by CIBC’s businesses, infrastructure and corporate governance groups.  

Global Operational Risk Management (GORM), within Risk Management, is responsible for providing oversight of CIBC’s global operational risk exposures and provide effective independent challenge to the operational risk management risk activities. GORM is the owner of the Operational Risk Management Policy and Control Framework.

US Operational Risk Management department is responsible for providing oversight and second line of defense challenge of operational risk exposures within all business units across the US Region.

JOB PURPOSE

As the second line of defense, the Director, US Fraud Risk Management’s primary purpose is to:

• provide leadership in the deployment of fraud risk management practices in the US Region
• engage with senior leadership on the strategic direction of second and first line of defense fraud programs assess the US Fraud Risk Management function against industry practices and regulatory expectations ensure independent effective challenge over fraud risk maintain a fraud governance structure that is appropriate for the bank’s size, complexity, and risk profile monitor fraud risk against risk appetite

KEY ACCOUNTABILITIES

The Director, US Fraud Risk Management will be responsible for, but not limited to the following activities:

US Fraud Risk Management Program Sustainment

• Set US Fraud Risk Management’s annual work plan
• Attend industry consortiums to gain insight into second line of defense fraud programs across the industry and adjust US Fraud Risk Management’s program, as appropriate
• Fraud Risk Policy and Programs
• Chair US Fraud Risk Council
• Sustain US Fraud Risk Management’s Target Operating Model
• Escalate top fraud risks to the Head of US Operational Risk Management
• Sustain the US Supplement to the Fraud Management Policy and provide input into Fraud Management Policy refreshes
• Ensure an annual fraud awareness and training work plan is established and executed against
• Ensure the Fraud Stop Champion Program is operational and there is team member awareness of the program
• Provide independent effective challenge over reporting exercises
• Develop reports for CIBC Canada committees
• Develop the US Region Annual Fraud Risk Report