Trading Market Risk Manager - Fixed Income

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

We are seeking a market risk manager to oversee CIBC’s fixed income trading activities in the US which includes Treasuries, swaps, spread products and securitized products. You will be responsible for ensuring that market risks associated with these activities are completely identified, measured, and managed. Your role will also support the development of new business initiatives and involve conducting ad-hoc analyses of specific risks and transactions. In addition, you will participate in leading group-wide projects, bringing forward innovative ideas and applying advanced analytical techniques. Success in this role requires a strong understanding of financial markets and the analytical foundations of pricing and risk management for complex derivatives. You will collaborate closely with traders, treasury, operations, financial control, audit, technology, middle office, and other teams within CMRM. The position demands sound judgment and the ability to make timely decisions with respect to complex risk scenarios within a dynamic, time-sensitive trading room environment.

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.

The expected annualized base salary range for this role is $115,000 to $130,000.

The base salary is determined by a variety of factors, including the candidate’s skills, experience, and job-related knowledge, as well as geographic location and specific business needs. Our compensation philosophy supports ongoing growth and development, enabling progression within the salary range as team members advance in their roles.

In addition to base pay, compensation for this role includes participation in an annual discretionary incentive or bonus program.

We are committed to providing fair, equitable, and competitive compensation opportunities for all employees and we encourage open conversations about compensation throughout the recruitment process.             

                                   

How you’ll succeed

• Risk Management Frameworks - Ensure appropriate risk frameworks are in place to control market risk and that processes exist to monitor against limits.

• Business and Market Awareness - Maintain continuous awareness of the risk profile of the Fixed Income business and market developments that may impact the business.

• Timely communication - Provide timely and accurate market risk updates to senior management.

• Risk Metrics and Limit Monitoring - Ensure the integrity of risk metrics and limit monitoring and resolve violations of market risk limits.

• Product and Initiative Due Diligence - Perform due diligence in the onboarding of new products and initiatives, including risk assessment and risk capture.

• Model Development and Enhancement - Work with technology and business support groups to design and improve risk models to capture risks originating from Fixed Income trading.

• Portfolio Risk and Stress Testing - Develop and enhance portfolio risk and stress testing.

• Regulatory Compliance - Ensure compliance with all market risk regulatory requirements.

• Collaborative - Contribute to Enterprise Risk Management exercises and reporting.

Who you are

• You have market risk management experience. You have at least 3+ years of market risk management experience on a trading floor. Strong understanding of the pricing of and risks associated with fixed income products.

• You’re passionate about markets. Demonstrated interest in markets and the ability to proactively anticipate impacts to a given risk profile.

• You’re analytically minded. Familiarity with the methodologies and risk metrics to quantify and analyze market risks, such as VaR, Stressed VaR, Stress Testing and risk sensitivities.

• You’re an effective communicator. Strong interpersonal and communication skills including the ability to articulate technical, complex ideas to a variety of audiences. Excellent negotiation and mediation skills.

• You have a quantitative background. Undergraduate degree in a quantitative discipline preferred. Highly proficient Excel skills. Knowledge of Python, VBA, and/or other programming languages is a plus.

• You’re adaptable and detail-oriented. Strong attention to detail. Able to work independently and as part of a team. Able to effectively manage multiple projects of varying complexity.

• 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, 29th Floor

Employment Type

Regular

Weekly Hours

37.5

Skills

Analytical Thinking, Communication, Group Problem Solving, Market Risk, Regulatory Requirements, Reporting and Analysis, Researching, Risk Management Framework, Stakeholder Management