Job Information
CIBC Associate, Due Diligence (12-month contract) in Toronto, Ontario
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 (https://www.cibc.com/en/about-cibc.html)
What You'll Be Doing
The Portfolio Risk Management (PRM) team within Global Transaction Banking (GTB) is responsible for the first line Anti-Money Laundering (AML) Program for High Risk Capital Markets Corporate clients and CIBC’s Correspondent Banking client portfolio. The group includes two Due Diligence teams responsible for risk assessment, a Transaction Monitoring team, and a Quality Control oversight team.
The Due Diligence Associate (Corporate) is responsible for the periodic AML and Enhanced Due Diligence review of all High Risk Capital Markets clients inclusive of updating various internal document requirements, performing a detailed review of the clients’ governance and risk management procedures, and a detailed review of adverse media / geopolitical risks associated with all jurisdictions where the client operates. The Due Diligence Associate (Corporate) partners closely with internal stakeholders including Corporate Banking Relationship Managers (RM’s), Cash Management RM’s, Global Markets RM’s, Client Services, and CIBC’s Enterprise Anti-Money Laundering groups to ensure best AML practices are followed.
As a member of the GTB Portfolio Risk Management team, you will have the opportunity to contribute to the successful execution of CIBC’s Enterprise AML framework as it relates to CIBC’s High Risk Capital Markets global clients.
At CIBC we enable the work environment most optimal for you to thrive in your role. 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
Review and Assessment - Review High Risk Capital Markets client relationships at time of onboarding, periodic reviews, and event triggered reviews. Collaborate with other teams across CIBC to confirm a client’s relationship across the Enterprise and ensure alignment with all applicable Enterprise AML standards.
KYC & Client Information – Gather and validate information to assist in the preparation of compliance/governance reports such as the Qualitative Assessment Report, assess and highlight risk trends, review product information, and document any changes in overall client risk profile.
Risk mitigation - Identify and mitigate risk to CIBC under purview of adverse media, transactional activity, geographical risks, and other key risk factors to CIBC. Investigate any potential risk-related concerns through analysis and various AML-specific investigative tools, including World-Check One, Bankers Almanac and other online information sources.
Reporting - Investigate AML risk related concerns and assess areas of due diligence as required. Ensure AML and compliance reports are complete, accurate, processed and approved in a timely manner in accordance with existing SLAs. Maintain and document records in accordance with regulatory requirements (OSFI/FINTRAC) and CIBC Enterprise standards.
Recommendations - Make high quality risk-based recommendations and prepare written reports with recommendations to support client relationships that stand up to scrutiny by business personnel, compliance, internal/external audit, and regulators.
Who You Are
You have an undergraduate degree in a relevant discipline.
You can demonstrate a minimum of 3 years AML and/or risk management experience including understanding of AML technical terms and concepts. Prior research experience, in any capacity is preferred.
You can demonstrate understanding of Capital Markets products including lending, cash management and trading products.You understand the importance of client experience.
You possess knowledge of AML regulations and FATF guidance along with ability to gather, analyze, organize, document and present large volumes of information in a succinct and organized manner.
You act like an owner . Solid organizational, planning, and time management skills with ability to multitask, gather, organize, and interpret data and formulate preliminary conclusions.
You possess strong critical thinking. Ability to demonstrate a good understanding and judgement of risk, particularly compliance/AML risk.
You can demonstrate excellent written and verbal communication skills to effectively communicate recommendations.
You are technically savvy . Strong Microsoft Office Suite skills is necessary.
You are a certified professional . CPA, ACAMS/other AML-related credentials (ACFCS, etc.) considered an asset.
Values matter to you . You bring your real self to work, and you live our values - trust, teamwork, and accountability.
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 work to recognize you in meaningful, personalized ways including a competitive compensation, a banking benefit*, wellbeing support and additional offers such as employee and family assistance programs and MomentMakers, our social, points-based recognition program.
Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
*Subject to program terms and conditions
What you need to know
CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit
We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, French proficiency, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.
Expected End Date
2025-01-17
Job Location
Toronto-161 Bay St., 8th
Employment Type
Temporary (Fixed Term)
Weekly Hours
37.5
Skills
Analytical Thinking, Business Development, Credit Risk Management, Customer Experience (CX), Financial Modeling, Financial Statement Analysis, High Net Worth Individuals, Portfolio Management, Researching
At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.
Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.
Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.
