Assistant Controller, U.S. Region

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The U.S. Region of Canadian Imperial Bank of Commerce (“CIBC”) is focused on deepening client relationships by delivering a full range of financial products and services to CIBC’s clients in the U.S. Region.  The U.S. Region is largely focused on middle market Commercial Banking for Commercial and Commercial Real Estate clients (through CIBC Bank USA), Capital Markets (through CIBC World Markets Corp. and the New York Branch of CIBC) and Private Wealth Management (through CIBC Private Wealth Advisors, Inc., CIBC National Trust Company and CIBC Delaware Trust Company).  The U.S. Finance team is responsible for supporting both the combined U.S. operations of CIBC (US GAAP, legal entity-based financials) as well as the U.S. Commercial & Wealth Management strategic business unit of CIBC (IFRS, management reporting-based financials).

JOB PURPOSE

The Assistant Controller, U.S. Region, will be accountable to the Vice-President, Corporate Controller and Chief Accounting Officer, U.S. Region, for providing, alongside an existing Assistant Controller, U.S. Region, additional leadership and oversight of a portfolio of teams and subject matter areas within the U.S. Finance—Controllership group for the combined U.S. operations of CIBC.  The primary objective of the U.S. Finance—Controllership group is to ensure accurate, complete and timely accounting records and financial reports (statutory and regulatory) in accordance with U.S. generally accepted accounting principals and internal accounting policies and the CIBC governance and control framework.  The position will play an important role with respect to U.S. Finance interactions with internal audit, external auditors and U.S. regulatory bodies.  The role will have management responsibility in the U.S. Region over the SOX/ICFR Governance Office and the Quality Assurance over Regulatory Reporting function, and also will be responsible for collaborating on a frequent basis with the Capital Markets Product Control and Private Wealth Product Control functions with respect to internal controls, financial and regulatory reporting matters and new products/initiatives to ensure a strong and consistent governance and control environment.

KEY ACCOUNTABILITIES

Internal Controls Over Financial and Regulatory Reporting

• Establish and maintain a control environment that is consistent with CIBC’s needs and the requirements of the regulators and auditors for the combined U.S. operations.
• Manage the U.S. Region SOX/ICFR Governance Office to ensure a robust internal control over financial and regulatory reporting environment that adapts to new business products and initiatives, new or changed transactional or reporting systems that impact financial and regulatory reporting, and changed regulatory guidance or auditor expectations with respect to design and operating effectiveness of internal controls.
• Serve as the U.S. Finance—Controllership team’s point person/relationship manager with internal audit and external auditors with respect to the SOX/ICFR program, control testing matters and deficiency management and resolution.
• Lead U.S. Region-wide training and awareness for SOX/ICFR control owners with respect to program matters, current developments, changes in requirements and expectations, etc.

Quality Assurance Program for Regulatory Reporting

• Manage the team executing the Quality Assurance Program for U.S. Regulatory Reporting, which is an independent function designed to validate the completeness and accuracy of the combined U.S. operation’s high-risk regulatory reports (e.g., FFIEC 031, FR Y-9C, FR Y-15, FFIEC 002, etc.).
• Serve as the U.S. Finance—Controllership team’s point person with internal audit and regulatory agencies with respect to their review of the Quality Assurance Program.
• Facilitate coordination and collaboration between the SOX/ICFR Governance Office and the Quality Assurance Program function to ensure efficiency between control design and testing work related to financial and regulatory reporting.

Collaboration with Product Control Functions for Capital Markets and Private Wealth Management

• Collaborate on a frequent basis with the Capital Markets Product Control and Private Wealth Product Control functions with respect to internal