Regulatory Affairs Specialist
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.
The Regulatory Affairs Specialist III will facilitate and coordinate exams, including responding to first day letters/exam requests, for all U.S. and Canadian banking regulators for CIBC Bank USA, CIBC Bancorp USA Inc., and their affiliates/subsidiaries with regard to examinations, reviews, and information requests that involve U.S. business activities.
- Manage examination processes, including providing support to on-site exam teams as required.
- Participate in designated meetings with Regulators
- Coordinate preparation for meetings and be responsible for post-meeting follow-up
- Monitor and ensure timely response to all exam-related or other inquiries and requests from Regulators.
- Collect and assess information from business units, as necessary to ensure appropriate responses.
- Partner with internal stakeholders ensure accuracy and timeliness of information provided to regulators.
- Provide secondary review of exam related items prior to providing to regulators.
- Participate in designated meetings with regulators, coordinate preparation for meetings and be responsible for post-meeting follow-up
- Build strong and effective relationships with U.S. and Canadian Regulators including but not limited to the Federal Deposit Insurance Corporation, Federal Reserve Bank, the New York State Department of Financial Services, and other Regulators as required to ensure that their needs and expectations are met and if possible, exceeded on a timely basis.
- Ensure that ad-hoc and regular requests for information are delivered in a timely manner.
- Provide additional support for routine continuous monitoring and regulatory deficiency tracking as needed.
- Assist in the execution of regulatory initiatives in the region as they arise.
- Proactively assist the Managing Director, US Regulatory Affairs, to achieve the best possible ratings and outcomes for Regulatory examinations, and to facilitate the most appropriate plans for remediation of directives or recommendations as they are raised.
- Assist with tracking status of remediation plans for appropriate reporting.
- Manage record of regulatory letters and record management of regulatory correspondence
- Ensure the Head of US Regulatory Affairs and the Managing Director, US Regulatory Affairs and kept apprised of all developments
Cross Functional Relationships:
- Work in a matrix environment with Executives and Senior Management in the U.S. and Canada
- Partner with internal line of business stakeholders, Regional Management, Finance, Compliance, Legal, and Technology
- Engage with regulators as appropriate
Knowledge and Skills:
- Strong project management skills and proven ability to review systems, process and procedures to establish efficiencies, eliminate duplication and provide organizational support that continually exceed targets.
- Relationship management. Ability to establish productive relationships between various leaders, departments and partners across the organization and externally.
- Develop strong relationships for effective interaction with U.S. and Canadian regulators.
- High degree of knowledge of all CIBC legal entities and lines of business in the U.S. Region
- Working understanding of the banking regulations applicable to CIBC’s US businesses
- Proven ability to be flexible and creative and adapt to changing environments
- Bachelor’s Degree and 5+ years of risk management, audit, legal, regulatory or exam management experience.
- Knowledge of applicable banking laws and regulations and federal/state banking industry regulators needed.
- Ability to develop and maintain close working relationships with internal and external stakeholders.
- Advanced PC (MSWord, Excel, Access, PowerPoint) skills.
- Excellent oral and written communication and presentation skills.
- Strong organizational skills, including ability to prioritize multiple simultaneous projects.
This role operates within a normal office environment with little exposure to adverse working conditions.
Job posted: 2021-04-10