Job Information
CIBC Executive Director, Public Markets - Pension Investment Management 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 Executive Director, Public Markets is responsible for leading and implementing all investment activity relating to the CIBC Pension Plan’s (Plan) $7-8B Public Markets investment program; the Plan has a total gross assets under management of $10B. Asset classes include fixed income (rates & credit), public equities, and liquid alternatives as well as the use of derivatives for replication and risk management (FX, rates, equity, credit) and a repo program. The program is implemented through portfolio managers across a number of mandates that are bespoke to the Plan.
At CIBC we enable the work environment most optimal for you to thrive in your role. You’ll have the flexibility to manage your work activities within a hybrid work arrangement where you’ll spend 1-3 days per week on-site, while other days will be remote.
How you’ll succeed
Leadership and Oversight: Lead and oversee the Public Markets investment program under the direction of the Chief Investment Officer (CIO), assuming delegated authorities to manage a substantial $7-8B portfolio
Portfolio Management : Manage a diverse program, across numerous bespoke mandates, that include a bond portfolio for LDI management, a repo funding program, and a public equity and liquid alternative growth asset portfolio
Targeted Returns: Strive to achieve a target annual investment return of approximately $240MM from the program
Asset Class Strategies: Develop and implement asset class strategies, risk parameters, and portfolio construction techniques to achieve delegated return, risk, and liquidity objectives set by the CIO
Innovation: Develop differentiated investment ideas and strategies to enhance the performance of the program
Risk Management: Identify risks associated with the portfolio and proactively develop actionable mitigation plans
Manager Selection and Oversight: Conduct investment manager searches, recommend appointments in line with approved processes, manage relationships with investment managers, and directly interact with portfolio managers.
Performance Monitoring: Implement a framework and summary dashboard for the quantitative and qualitative monitoring of investment managers with clear recommendations and actions to be considered
Cost Management: Control investment management fees within budget and seek opportunities to reduce them without impacting performance
Security Lending Program: Manage the pension plan's security lending program in collaboration with BNY Mellon
Cash Management and Rebalancing: Direct and oversee rebalancing and cash management activities in coordination with the Operations Manager to ensure optimal portfolio performance
Strategic Collaboration and Thought Leadership : Collaborate with other senior team members to manage stress testing of the pension plan, integrate ESG principles into the portfolio, and to contribute to the formulation of macroeconomic views
Modeling Support: Advise on the modeling and projection of the public market portfolio, including investment returns, risks, and cash flows
Compliance and Administration: Oversee administrative and compliance functions required to support the program, ensuring adherence to regulatory requirements, fiduciary duty, and internal policies
Who you are
You have demonstrated experience. Minimum of 10-15 years of experience within a large pension plan, asset manager, or investment consultancy. Undergraduate degree in business or accounting or the equivalent combination of education and experience. CFA or other relevant designation
You are confident in your knowledge. Expert knowledge of capital markets and public asset classes including liquid alternatives. Comprehensive understanding of pension plan and/or institutional investing
You have well developed stakeholder management. Excellent verbal and written communication skills. Good organizational and time management skills to deal effectively with multiple time demands in very tight timelines.
You put our clients and partners first. You engage with purpose to find the right solutions. You go the extra mile because it's the right thing to do.
You understand that success is in the details. You notice things that others don't. Your critical thinking skills help to inform your decision making.
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 aspire to give you a career, rather than just a paycheck.
We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program, defined benefit pension plan, an employee share purchase plan, a vacation offering, wellbeing support, 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.
We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
*Subject to plan and 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.
Job Location
161 Bay Street, 39th Floor
Employment Type
Regular
Weekly Hours
37.5
Skills
Benchmarking, Cash Flow Modelling, Data Analysis, Documentations, Forecasting Process, Market Forecasts, People Management, Reporting and Analysis, Treasury Management
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.
