Senior Manager, Special Loans

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

What you’ll be doing

As Senior Manager, Special Loans and reporting to a Senior Director, Special Loans, you will be based in Toronto and will assume direct responsibility for the administration and management of high risk Commercial Banking accounts with authorizations up to approximately $10 million, and will also assist the team’s Senior Directors and Directors in the administration and management of high risk Corporate and Commercial Banking accounts, generally with authorizations in excess of $10 million, with the objective of restoring deteriorating loans to health, maximizing recovery of non-performing loans, and preserving the Bank's capital.

The role will bring you in direct contact with a wide variety of business executives and senior accounting and legal professionals, frequently under challenging circumstances.

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 3 days per week on-site, while other days will be remote.

How you'll succeed

• Portfolio management - Act as a client relationship manager for high risk and impaired accounts in your portfolio. Promptly assume responsibility of newly assigned accounts, discussing matters with relevant line lending officers, risk managers and clients, as appropriate. Should you not have loan workout experience, you will initially act in a supporting role on several workout files before assuming lead responsibility for your own accounts. Manage accounts in a prudent manner; i.e. mitigating risk and maximizing recovery while continuing to respect the Bank’s core values and commitment to its clients. Ensure risk ratings reflect the inherent risks at all times and that proper level of provision is taken for non-performing loans. Prepare Quarterly / Watch List Reports, Impairment Tests, risk rating documentation, and Impaired Loan Summary Reports. Liaise with back office regarding account transactional matters including lodging, release and recording of security, changes in risk ratings and programmed limits, account enquiries, and the like. Prepare/assist in SOX/Financial Controls requirements, information production and compliance tracking.

• Business acumen – Having to deal with borrowers from a wide range of industries, you are curious and ensure a thorough understanding of your client’s business including, as appropriate, the soundness of business strategies, competitive landscape and position, quality of management, business risks, ownership and control, and financial risks. 

• Negotiation, evaluation and communication – Assist in the negotiation and disposition of assets acquired through loan realization proceedings, within delegated authority. Analyze and recommend new advances and negotiate terms and conditions  in the context of overall work-out and restructuring arrangements. Assist in the evaluation of proposals, developments and monitoring of budgets, and analysis of non-performing loans and loan loss estimates. Devise creative strategies and skillfully communicate with all parties (i.e. Bank adjudicators, debtors, guarantors, other lenders, asset purchasers, etc.). Prepare periodic reports on your assigned accounts and otherwise keep the supervising officer informed on status of assigned accounts, progress of negotiations and management of accounts.

• Detail oriented – Instruct counsel on the preparation of communication and documentation, including financing agreements, and negotiate such agreements with relevant parties (i.e. debtor, asset purchasers, etc.). Instruct Financial Advisors (FA) and external Legal Counsel on scope of mandate and ensure all areas of concern are covered before work is initiated. Monitor progress within work-out plans, taking steps as appropriate to amend arrangements and scope of FA and Legal Counsel mandates in accordance with changing circumstances.

Who you are

• You can demonstrate knowledge of credit practices, variables that impact credit risk, knowledge of the systems and programs commonly used in credit risk management. You have comprehensive level of knowledge of strategic planning, business planning  and forecasting gained through extensive hands-on experience. Knowledge of Canadian/US insolvency practices would be beneficial.

• You have a degree majoring in business or a related discipline or equivalent work experience. You have strong knowledge of accounting and finance, sufficient to understand various financing options and to provide structural financial advice in the areas of balance sheet structure. You are well versed in Word, Excel, PowerPoint.

• You have strong oral and written communication and presentation skills. It's an asset if you are bilingual in English and French.

• You're passionate about people. You find meaning in relationships, and surround yourself with a diverse network of partners. You build trust through respect and authenticity. You have strong relationship management skills to effectively interface with senior business people, including stakeholders, accounting, legal and other professionals.

• You give meaning to data. You enjoy investigating complex problems, and making sense of information. You're confident in your ability to communicate detailed information in an impactful way.

• 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 [email protected]

• CIBC is committed to clarity in our hiring process. All roles posted are opportunities we’re actively recruiting for, unless stated otherwise.

• 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 test (such as simulation, coding, French proficiency).

• We use artificial intelligence tools during the recruitment process. 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.

Job Location

Toronto-81 Bay, 31st Floor

Employment Type

Regular

Weekly Hours

37.5

Skills

Business, Decision Making, Loan