Director, Petroleum Engineer

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What You’ll Be Doing:

Risk Management is led by the Senior Executive Vice-President and Chief Risk Officer (SEVP & CRO) and is accountable for the independent oversight of risks inherent in CIBC’s activities and for the leadership and management of CIBC’s Risk Management department.

The US Risk Management function conducts the mandate of CIBC Risk Management at the regional level, ensuring compliance with applicable Parent Bank policies, while complying with local laws and regulations governing the Region and its individual legal entities.

Enterprise Risk Management, US Region develops, implements, and maintains a risk management governance framework and related policies and procedures for the US Region and its individual legal entities. This involves the regional implementation of global CIBC programs, where applicable, and includes US Risk Management Framework and Policies, Risk Governance, Risk Appetite, Independent Oversight and Effective Challenge, Identification of Material and Emerging Risks, Reputational Risk, Strategic Risk, Model Risk Management, Petroleum Engineering, Collateral Evaluation Services Group and Environmental and Social Risk Management.

How You’ll Succeed:

The PE is a knowledgeable and experienced petroleum engineering professional responsible for analyzing and assessing third-party reserve reports, lease operating statements and other data to determine the underlying collateral value and advance rate of proven oil and natural gas assets supporting Reserve Based Loans (“RBLs”). The role applies leadership skills and technical expertise to determine the loss given a default rating and assess the cash flow repayment profile of the borrower. The PE exercises a high degree of independent judgement to prepare evaluations for existing and prospective corporate banking customers. The PE supports the delivery and maintenance of the “Petroleum Engineering Department US Engineering Reserve Based Lending Procedure Manual”, which outlines the guidelines for CIBC’s collateral valuation procedures and methodology. 

Key Accountabilities:

• Evaluate corporate reserve reports with a view to establishing an independent lending value that is in adherence to CIBC’s lending guidelines, independently of the loan production and credit approval functions.

• Assess the quality of the client’s, or prospective client’s) asset quality, experience and competence of a their technical team, and the reasonableness of their business strategy.

• Utilize industry software (e.g. Aries) to confirm client reserve assessments.

• Review the technical and economic input parameters to the client reserve report to ensure compliance to historical data.

• Deliver corporate cash flow projections using CIBC’s standard templates incorporating economic assumptions such as production forecasts, reserves, commodity prices, operating costs, and discount rate.

• Prepare evaluations for credit applications that contain an independent assessment of an appropriate lending value, and the risks and merits of the client and their asset portfolio,

• Provide input for CIBC’s price forecasts for oil and natural gas at least semi-annually or as market conditions dictate.

• Compile semi-annual portfolio analysis.

• Other ad hoc responsibilities:

• Support US Corporate Solutions Group with commodity derivative (hedging) analysis.

• Provide input and analysis to Institutional Structuring and Securitization Group for deals supported by oil and natural gas collateral.

Cross – Functional Relationships:

The job will facilitate cross-functional team work as well as participate in cross-functional teams to support initiatives from other groups out