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Director, Commercial Banking Finance

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CIBC

Oct 26, 2024

  • Job
    Full-time
    Expert Level
  • Accounting & Tax
    Banking & Finance
  • Toronto
  • Quick Apply

AI generated summary

  • You are driven, analytical, a bold leader, CPA accredited with advanced planning knowledge, and value teamwork. You engage thoughtfully with diverse teams and care about people’s perspectives.
  • You will oversee financial reporting, planning, and forecasting, analyze results, improve processes, and manage team performance while collaborating with various stakeholders across the organization.

Requirements

  • You're driven to succeed. You are motivated by accomplishing your goals and delivering your best to make an impact.
  • You give meaning to data. You enjoy investigating complex problems, and making sense of information. You're confident in your ability to communicate detailed information in an impactful way.
  • You are a bold and authentic leader. You're passionate about developing and coaching to bring out the best in people. You have led diverse, high performing teams.
  • You can demonstrate experience and advanced knowledge of planning, costing and/or analytical procedures and techniques. In addition, you have extensive knowledge and understanding of accounting/reporting systems (EBI, Essbase), and the ability to identify, extract, and use the information to the user's advantage. You also have extensive knowledge of regulatory issues or complex accounting/reporting systems and the ability to identify, extract, and apply the information for others use. It’s an asset if you have knowledge of Small Business and Sales Channels.
  • You’re a certified professional. You have current accreditation and good standing in the CPA or a recognized accounting designation, along with post-graduate degree in business or a related field.
  • You engage with your heart and mind. You care about people and understand different perspectives. You listen and learn from the experiences of others.
  • Values matter to you. You bring your real self to work and you live our values - trust, teamwork, and accountability.

Responsibilities

  • Reporting to the Senior Director, Commercial Banking Finance, the Director is responsible for supporting the Canadian Commercial Banking Line of Business (LOB) including ensuring all financial reporting requirements for both Sales views and Product views of management reporting to the management team are met. This includes regular weekly/monthly/ quarterly/ annual reporting as well as handling ad hoc requests. In addition to ensuring all reports are delivered on a timely and accurate basis, also provide recommendations, insight and context to help LOB management interpret the financial information provided. Continuously seek to improve existing processes and work collaboratively with the Business and various teams across Finance and the bank. The role will also participate (and in some cases lead) activities and analyses at the CC&W level which may cover Product or Sales focused work. On top of this, the Director will be responsible for all planning and forecasting for the business including finalizing the quarterly Latest Estimates (LE’s) and annual Plan for the Canadian Commercial Bank and all related requirements/deliverables.
  • Analyze and interpret financial results and key business metrics to ensure the business and various stakeholders understand the drivers of the results and relevant issues are highlighted to the Commercial Banking Management Team. Ensure reporting requirements for Canadian Commercial Banking Finance are met each month and appropriate level of review with the Business is conducted. Provide accurate in-depth reporting/analysis (weekly, monthly, quarterly/annual) on sales results, including detailed analysis around volume growth and rate-volume analyses to explain the drivers of revenue movement. Establish relationships with each of the Finance teams supporting Canadian Commercial Banking including Corporate Finance and Transaction Banking, Innovation Banking, Diversified Markets and Real Estate and ensure reporting requirements are met and that each of the relevant stakeholders/leads are engaged and understand their respective results, plans/LE’s and any ad hoc analysis as it comes up.
  • Direct, coordinate and oversee the preparation of the annual and strategic Plan and quarterly latest estimates for Canadian Commercial Banking. Understand and articulate the drivers for the businesses. Present Plan/forecasts to Senior Management highlighting the key drivers for revenue/expenses/FTE, assumptions, as well as risks and opportunities. Conduct appropriate level of financial and economic analysis on business cases, new product/campaign launches and develop recommendations for discussion, review and acceptance with various stakeholders.
  • Identify opportunities to improve existing reporting and forecasting processes and work with key players to implement changes. Develop tracking around key metrics across Canadian Commercial Banking areas such as RORC, NIMs, Operating Leverage, Self-Capitalization, volume growth, fee growth, market share, etc. Identify issues and make recommendations to address gaps.
  • Assist the business in determining both the short and long term impacts of significant special projects/strategic partnerships. Work with various partner group across the organization to address issues including CPS, Treasury, Analytics, Finance, Risk, etc. Work especially closely with the Business Banking Finance team in order to successfully split the Business Banking and Commercial Banking results across SBU’s on a monthly basis, continually looking for ways to improve the process.
  • Set appropriate context when assigning work to ensure that individuals’ roles support the achievement of the business unit’s priorities and CIBC’s overall goals. Build team and individual capabilities by providing development opportunities such as job shadowing, special projects, and training. Manage performance by providing fair and accurate formal and informal feedback, identifying and removing obstacles to performance and by explaining how performance expectations align with business priorities. Create a positive work environment and being an effective role model by championing CIBC’s mission, vision and values. Ensure compliance with policies, standards, guidelines and controls by applying the policies and controls fairly and consistently so employees understand what to expect. Hire the right people in the right jobs to align individual capabilities with job requirements and business unit goals.

FAQs

What is the primary responsibility of the Director, Commercial Banking Finance?

The primary responsibility is to support the Canadian Commercial Banking Line of Business, ensuring all financial reporting requirements are met and providing insight and recommendations to help management interpret financial information.

What kind of work environment does CIBC offer?

CIBC offers a hybrid work arrangement where employees spend 1-3 days per week on-site and work remotely on other days, enabling flexibility to manage work activities.

What qualifications are required for this position?

Candidates must have a current CPA or a recognized accounting designation, a post-graduate degree in business or a related field, along with extensive knowledge of planning, costing, or analytical procedures.

How does the role contribute to planning and forecasting?

The Director will direct, coordinate, and oversee the preparation of the annual and strategic plan as well as quarterly latest estimates for Canadian Commercial Banking, presenting key drivers to senior management.

Are there opportunities for professional development within this role?

Yes, CIBC emphasizes building team and individual capabilities by providing development opportunities such as job shadowing, special projects, training, and creating a positive work environment.

What tools or systems should candidates be familiar with for this role?

Candidates should have extensive knowledge and understanding of accounting/reporting systems such as EBI and Essbase, as well as regulatory issues and complex accounting/reporting systems.

How does CIBC recognize employee contributions?

CIBC recognizes employee contributions through competitive salaries, incentive pay, banking benefits, and a comprehensive benefits program, along with social recognition initiatives like MomentMakers.

What is the team dynamic expected in this role?

The role requires collaboration with various teams across finance and the bank, engaging with key stakeholders to ensure reporting requirements are met and that business results are effectively communicated.

What is the focus of the relationship/stakeholder management aspect of the role?

The focus is on assisting the business in determining the impacts of special projects and strategic partnerships, while working closely with partner groups across the organization to address relevant issues.

How does CIBC approach inclusivity within the workplace?

CIBC is committed to creating an inclusive environment where all team members and clients feel they belong, and they actively seek applicants with a wide range of abilities.

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CIBC

Ambitions Made Real

Finance
Industry
10,001+
Employees
1961
Founded Year

Mission & Purpose

The Canadian Imperial Bank of Commerce (CIBC) is a major financial institution that provides a wide range of banking and financial services. CIBC's ultimate mission is to be a leading, innovative financial institution that helps clients achieve their financial goals. The bank's purpose is rooted in delivering trusted advice and exceptional service to individuals, businesses, and communities. CIBC is committed to fostering economic growth, supporting financial well-being, and contributing to the overall prosperity of its clients and the regions it serves. With a focus on integrity and customer satisfaction, CIBC plays a vital role in the Canadian and international financial landscape, offering solutions that span banking, wealth management, and capital markets to meet the diverse needs of its stakeholders.

Benefits

  • Financial health

    Rewards and resources to support your short and long-term financial goals. At a glance: 50% employee share matching plan, Employee Banking Offer including free banking services, credit cards and more, Defined Benefit Pension Plan that provides you with a secure retirement for life

  • Mental health

    Resources to support your mental health and increase your resiliency. At a glance: Mental health therapy covered at 100% and $5,000 per person per year, Online and in-person counselling, Shareable mental health video library, Mindfulness education and practice tools