Associate, Asset Based Lending, Corporate Finance

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

 

Based in Toronto and operating under a national mandate within CIBC’s Corporate Finance division, CIBC’s Asset-Based Lending group (“CIBC ABL”) provides clients with bespoke financing structures secured primarily by accounts receivable, inventory, and fixed assets. Operating individually or as the Agent in a larger syndicate, CIBC ABL executes loans for a wide variety of asset-heavy industries such as retailers, wholesalers, industrials, manufacturing, commodities, defense, and equipment rental.

ABL loans typically have fewer covenants and higher advance rates than traditional financing due to close monitoring and control of collateral. This specialized lending is best suited for companies with higher working capital leverage due to rapid growth, cyclical swings, seasonal requirements, undergoing acquisitions or recapitalizations, or, in some instances, financial restructuring / distress. ABL loans provide greater flexibility than typical credit models for collateral rich companies, with revolving lines of credit ranging from $20MM to $500MM+ and covering both the mid-market and large corporate sectors.

CIBC ABL is the most established bank owned ABL provider in Canada (commenced operations in December 2000) and has the largest ABL portfolio in Canada. The team enjoys a high average employee tenor with Senior Leadership averaging 10+ years. As an Associate you will partner with other Asset Based Lending team members: prepare and assist in presentations of financing proposals to clients; assist with appropriate documentation for accepted credit proposals, negotiations and closings; and, assist in post-close portfolio management.

 

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

• Client First - You will build meaningful relationships with clients by actively engaging in meetings to deeply understand their unique financing needs, credit quality, and business objectives. Perform comprehensive financial/non-financial analysis and risk assessment to help form proposed credit structures. Assist in preparation of financing proposals (structuring terms and conditions including security, covenants and pricing) to properly reflect and compensate CIBC for assessed risk. Prepare draft recommendations on credit submissions and investment proposals to present to senior management. Assist with comprehensive due diligence on all transactions. Prepare credit memoranda and other credit correspondence in a well thought out, thorough and efficient manner and in accordance with policies and procedures.

• Relationship Building – Develop good relations with internal stakeholders (incl. treasury services, commercial banking, capital markets and risk management) external customers and general industry contacts to generate new referrals and business opportunities and deepen overall client relationships.

• Collaboration - Partner with your team to connect clients with opportunities. Assist in managing a portfolio of credit relationships with Portfolio Managers. Monitor account performance and industry trends. Maintain a proactive approach to continuous risk assessment and report observations. Assist in negotiation of terms and conditions of proposals.  Assist in the presentation of recommendations on transactions to senior management, credit and risk adjudication in a thorough, clear and concise manner. Appropriately address borrowers’ requests in a timely manner and ensure that any related credit applications are completed accurately and in a timely manner.  Assist in work-outs of higher risk credits where necessary.

• Business acumen - Actively be involved with execution of an appropriate sell-down strategy for syndicated transactions. Duties performed on syndicated transactions include preparing information memorandums and other pertinent market information, approaching and negotiating with potential participants, assisting with legal documentation and closing.

Who You Are

• You have a diploma/degree in Finance, Accounting, or Business Administration (B.Com/BBA). Other financial designations considered an asset (i.e. CPA, CBV, CFA etc.).

• You can demonstrate 2+ years of experience in Commercial or Corporate Credit, Public Accounting, Restructuring, or Transaction Advisory, preferably in a deal execution role. Previous experience in an asset-based lending role would be a definite asset. Proven financial analysis and credit skills with the ability to identify key transactions risks and potential mitigation. Well-developed financial modeling skills. Good understanding of the Asset-Based Lending product, marketplace and loan structuring. You have a good understanding of corporate finance and ability to evaluate and understand complex capital structures.  You work well in a high-performing team based environment and have strong communication and customer relationship management skills.

• Values matter to you. You bring your real self to work and you live our values – trust, teamwork and accountability.

#LI-TA

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, 10th Floor

Employment Type

Regular

Weekly Hours

37.5

Skills

Analytical Thinking, Business Development, Client Service, Financial Advising, Lending, Portfolio Management, Results-Oriented