Director, Trade Control, Us Global Markets

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

US Global Markets, Fixed Income, Trade Control team

• Controls proper capture of trades for risk and regulatory reporting
• Provides primary support for traders and sales/marketers in aspects of the trade booking and position reconciliation process.
• Maintains a strong understanding of internal and third party desk-related technologies and may be called on to assist others in the use of the same systems
• Primary interface between front office desks and downstream support teams
• Monitors new orders during the trading day to ensure all executions for client orders are received from market/brokers and booked properly in CIBC’s trade capture to feed downstream systems
• Ensures proper allocation of trades to client sub-accounts

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 2-3 days per week on-site, while other days will be remote.

This role will take place on an open concept, fast-paced trade floor, which can at times be an active, high-stress environment. In order to best meet the needs of our clients, early start times (e.g. 6:30am) may be required.

How You’ll Succeed

• Client Post-Trade Communication: Trade Control is responsible for follow up with clients to resolve any discrepancies in trade details and to help ensure trade settlement. Where a trade is failing to settle, Trade Control team will liaise with the client contacts, the sales desk and back office operations to resolve the fail.
• Monitor all inventories (institutional) to ensure positions are booked correctly
• Reconciliations: Errors may occur in booking between internal systems (front to back office, including between legal entities) and/or with external settlement systems (e.g. Broadridge ADP).
• Preparation of new account forms: As part of the allocation of trades, accounts and sub-accounts are required to be set up in our books of record. This entails providing details of account and settlement information to the Broadridge operations team.
• Receive reconciliation reports and take action to correct daily exceptions or errors; investigate and resolve reconciliation breaks between internal companies
• Onboard clients to the e-Confirm system and act as ongoing client point of contact for same
• Monitor unmatched trader and sales tickets during the day to ensure timely regulatory reporting; ensure accurate capture and feed of trades for required regulatory reporting
• Participate in projects as requested
• Monitor automated client allocations and break-down trades per manual client allocations
• Exception Processing and Reporting: On a daily basis all accounts should be reviewed, appropriate positions flattened or allocated as necessary. Responsible for keeping appropriate levels of management aware of potential exposures or errors.
• Communication throughout the day with clients, focused on a range of items (allocations, trade discrepancies, failed trades (i.e. commissions, price))
• Assist back office as client liaison to help resolve settlement breaks
• Organize and maintain files/tickets, logs and records to ensure any historical investigation is possible
• Resolution of trade reconciliation exceptions between front office systems on a daily basis

Who You Are

• Experience with Bloomberg TOMS, E-Trading and other industry fixed income platforms recommended
• Experience interfacing with Broadridge (Operations) a plus
• Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability.
• Experience in or strong understanding of financing/borrow/lending business and processes recommended
• Working knowledge of, and/or exposure to trading execution, settlement processes and related systems; strong understanding of trade ticketing process a plus
• Strong verbal, written and interpersonal skills - this position will interact with individuals from many areas of the firm and requires diplomacy and a strong sense of judgment
• Excellent PC skills
• Ability to work well under pressure, prioritize tasks and meet tight deadlines
• Some back office experience a plus.
• Hold a Series 7, 63, 99
• Self-motivated
• Service focused
• Undergraduate degree required, preferably in Banking / Business / Finance
• Ability to identify and analyze trade problems, and react effectively in a timely manner to remediate identified issues
• Strong understanding of fixed income products (domestic and international) and their respective trading lifecycle
• Ability to quickly grasp new industry practices and create/document new processes.
• Proactive thought leadership to identify and deliver process improvements and efficiencies.
• Detail oriented, Analytical/systematic thinker

What CIBC Offers

• 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.
• 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 health benefits program, 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.

Conduct and Culture Risk

Our CIBC risk culture is based on employees striving to exceed the expectations of ourselves and our leadership’s identification and mitigation of risks in their daily responsibilities, not just in quarterly or annual monitoring/assessments. We all are accountable for managing risk.

As an employee of CIBC the incumbent must conduct themselves (and foster an environment for others) in a manner consistent with our strong risk culture. This includes:

• Escalating matters through one of the appropriate channels identified in the CIBC Code of Conduct (i.e., HR, management, Ethics Hotline, Whistleblower, etc.) upon observing activities that may be inconsistent with CIBC’s policies, frameworks, guidelines, processes and controls, and where applicable, assist in the resolution of same
• Escalating matters that can result in adverse market practices and outcomes, thereby negatively impacting CIBC’s reputation as a leading financial institution
• Understanding and following the qualitative and quantitative components of our Risk Appetite Statements
• Speaking up if witnessing behaviors that drive poor or unfair outcomes for clients, team members or other stakeholders
• Completing all annual Corporate Mandatory Training and Testing modules, as well as any additional business-specific modules, as required and employing the learnings in daily activities and undertakings
• Following all aspects of the CIBC Code of Conduct, as well as all applicable CIBC policies, frameworks, guidelines, processes and controls
• At all times acting in accordance with our Purpose and shared values, to achieve our Bank’s strategic goals

At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $130,000 - $160,000 for the New York, NY market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.

Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.

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]
• 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

NY-300 Madison Ave., 5th Floor

Employment Type

Regular

Weekly Hours

40

Skills

Accountable, Banking