The PrivateBank Compliance Advisory Manager in Chicago, Illinois
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the U.S., CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth Management offers investment management, wealth strategies and legacy planning.
CIBC works to help you make your ambitions a reality with a team that is committed to being always professional, genuinely caring and collaborates to find simple solutions as we build our relationship-focused bank for the modern world.
Every year, CIBC is recognized for its business success, community commitment and employee initiatives. We are proud of this success and are committed to creating an inclusive workplace and an environment where all of our team members can excel.
Technology, Infrastructure, and Innovation(TI&I) is a group of eight functional departments comprised of Technology, Information Security, Deposit Operations, Loan Operations, Project Management, Data Management Office, Corporate Real Estate, and Risk & Governance at CIBC Bank USA (Chicago). TI&I’s goal is to maximize the investment in resources and technology while building an appropriate balance between high touch client service and the Bank’s fiduciary responsibility to protect its clients, the Bank, and its shareholders from undue risk.
The Advisory Compliance Manager is responsible for supporting the eight functional departments in TI&I abiding by risk management principles and regulatory requirements.
Design, develop, and deploy a first line of defense compliance advisory program to ensure the TI&I LOBs mitigate and manage their compliance risk; provide compliance guidance; and steer TI&I projects with strong collaboration with other areas of the bank, including the second line of defense;
Guide the LOBs through various remediation efforts, as applicable. Remediation efforts may include, but are not limited to assistance with; developing a corrective action plan, identifying the scope of impact, determining an appropriate methodology approach, and verifying calculations.
Maintain strong knowledge of the Regulatory Compliance Management (RCM) framework; analyzing how the changes will affect TI&I, and creating a strategy to implement such changes within TI&I in accordance with the RCM framework;
Develop or enhance the first line of defense risk/compliance program to include components of an effective risk and compliance management program. Collaborate with the second line of defense risk and compliance partner, as applicable, to:
Support certain key activities of the compliance risk assessment process
Utilize tools and methodologies shared with Corporate Compliance,
Develop action plans to address risks and gaps, and map key controls as is relates to the RCM Policy;
Prepare for regulatory changes that impact the LOB by implementing new or modified controls and processes to comply with regulatory requirements;
Assist with the completion of periodic risk and controls assessments
Partner with the TI&I Compliance Testing Manager to create an effective first line of defense monitoring and control testing program across the various lines of business within TI&I;
Assess emerging issues or potential liabilities, conduct a root cause analysis and develop appropriate strategies to remediate and prevent recurrence of such gaps or deficiencies;
Evaluate and advise on the TI&I line of business policies, procedures, and programs for adherence to applicable laws and regulations and the Bank’s internal policies and standards. Ensure TI&I LOBs make change where appropriate;
Identify preventative, detective, and automated controls to ensure compliance with applicable laws and regulations;
Report risk/compliance activities and audit/review findings to applicable Bank committees and other lines of defense;
Assist in the revision and/or design of forms, disclosures, notices, or programs to ensure compliance with all applicable rules and regulations.
Contribute to the positive and team-oriented culture by maintaining cooperative relationships (assisting other Risk and Control teams when necessary), facilitating the resolution of conflicts, sharing information, and accepting and providing feedback;
Demonstrate commitment to professional growth by assuming progressively more challenging assignments (in-line with standard compliance career progression), proactively seeking relevant education and training opportunities, and expanding professional network.
Seven or more years of experience as a bank external/internal auditor, consultant or federal examiner (commissioning a plus);
In-depth knowledge and application of consumer compliance (i.e. CRA, , Reg. Z, TRID, FCRA, UDAP, etc.) and BSA/AML/OFAC regulations as well as other general regulatory requirements (i.e. Reg. U, Reg. W, Reg O);
Working knowledge of business continuity, Third Party Risk Management, Info Sec, Records Management, etc. a plus.
Extensive experience in conducting operational, compliance or other risk assessments;
The ability to develop effective strategies for mitigating identified compliance risks and issues and assisting the lines of business with implementation on a consulting basis;
Excellent collaboration and relationship-building skills as the Manager will work closely with line of business and executive management as well as members of other risk functions (i.e. Operational, Enterprise Risk, Compliance, Internal Audit);
Strong oral and written communication skills, and the ability to communicate with all levels;
Coaching, mentoring and/or training of junior risk/compliance professionals;
Proficiency with Microsoft applications including Word, Excel, and PowerPoint, data analysis and visualization skills using Excel or other analysis software;
Project management experience is a plus;
Bachelor Degree in accounting, finance or other business-related discipline; and
Relevant audit, risk and/or compliance certifications (i.e. CRCM, CIA, CPA) are a plus
External Company Name: CIBC US
External Company URL: https://us.cibc.com
Street: 70 West Madison