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Director, SEC Swaps

Company: Canadian Imperial Bank of Commerce
Location: New York
Posted on: April 10, 2021

Job Description:

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 feel empowered at work. Our team members have what they need to make a meaningful impact and feel truly valued for who they are and what they contribute. To learn more about CIBC, please visit Job Description Business Unit Description CIBC World Markets is the Capital Markets arm of CIBC, providing a range of integrated credit and capital markets products, investment banking, and corporate banking to clients in key financial markets in North America and around the world. We provide innovative capital solutions and advisory expertise across a wide range of industries as well as top-ranked research for our corporate, government and institutional clients . LOB Description Regulatory Supervision is primarily responsible for the supervision of all U.S. sales and trading desks within Global Markets. The supervisory program is designed to reduce and manage regulatory risk by preventing violations from occurring as well as detecting when violations do occur. Regulatory Supervision is a business role (not Compliance) and is delegated the responsibility to supervise on behalf of Global Markets business heads.What You'll Be Doing Complementing the specific responsibilities below, the role is charged with providing highly specialized advice and guidance on regulatory requirements applicable to the business lines and performing specific written supervisory procedures to achieve regulatory compliance. Regulatory Supervision must be highly responsive in a business environment where decisions have to be made in stressful, time sensitive situations where information is often ambiguous and incomplete. The role is also expected to keep abreast of developments in an ever-changing regulatory environment and their impact on the business. How You'll Succeed

  • Primary mandate is to create and maintain a robust supervisory framework for CIBCs future SEC Security Based Swap Dealer (SBSD) to effectively prevent violations of federal securities laws and rules related to SBSD
  • Maintain and continually enhance the Written Supervisory Procedures (WSPs) ensuring compliance with all relevant SBSD regulations including, but not limited to:
    • On-boarding and periodic review of SBSD associated persons
    • Review of business conduct and manipulative behavior across asset classes
    • Recordkeeping and reporting
    • SBSD data reporting
      • WSPs must clearly indicate "evidence of review" and follow-up that will satisfy both the SEC and any Self-Regulatory Organization; including, Key Performance Indicators and escalation
      • Monitor the daily sales and trading activities of Listed/OTC Equity Derivatives and Credit businesses to assess overall compliance with SBSD rules
      • Provide specialized advice and guidance on transactional issues to trading floor personnel as well as Business M anagement
      • Assist with trade surveillance for multi-asset classes across SBSD and US registered broker-dealer (Listed/OTC Equity Derivatives, Delta1, Convertibles, Synthetic Prime Brokerage, Fixed Income, Treasuries, Repo, Cash Equities, DMA, Prime Brokerage)
      • Promptly escalate significant issues and material incidents of non-compliance to the relevant Global Markets business head, senior Compliance officer and, if appropriate, head of US Global Markets for resolution including recommendations for corrective action
      • Collaborating with Project teams and infrastructure partners on the development and implementation of solutions to address existing and new regulatory requirements
      • Primary business contact responsible for assisting Compliance in preparing detailed responses to address regulatory inquiries on trading related matters
        • Monitor new and changing regulatory requirements on a timely basis and assess their potential impact
        • Ensure that employees responsible for trading securities are appropriately registered
        • Participate in appropriate industry committees and working groups
        • Work on special projects as assigned from time to time Cross-Functional Relationships
          • The Regulatory Supervisor regularly collaborates with colleagues including:
          • Management within Global Markets
          • Trading Floor personnel at all levels
          • Compliance and Legal
          • Trade Control, Middle office and Operations staff
          • Technology staff
          • Members of control and infrastructure groups within CIBC, to promote the development and execution of an effective and integrated control environment
          • Industry colleagues
          • Staff of regulatory organizations Compliance Requirements As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls. Authorities Regulatory Supervision has been delegated the authority to develop and manage the execution of a robust and effective supervisory program for all US Global Markets businesses. As a key contributor to the supervisory program, the incumbent has the authority to recommend changes to business processes in order to enhance operational efficiency and effectiveness of the regulatory reporting regime. Who You AreValues matter to you. You bring your real self to work and you live our values - trust, teamwork and accountability. You can demonstrate experience with:
            • Undergraduate degree
            • Minimum 5+ years ' (preferably 8-10 years) experience in handling Listed/OTD Equity Derivatives compliance issues gained at an investment dealer, regulator or marketplace
            • Extensive knowledge of SEC/FINRA and US based regulatory rules
            • Well - developed knowledge of trading practices and associated regulatory requirements
            • Working knowledge of industry standard trading technologies
            • Excellent relationship-building skills
            • Effective written and oral communication and presentation skills
            • Ability to work in a challenging environment while exhibiting poise under severe conditions
            • Resourcefulness creative problem solving skills
            • Series 7, 4, 24 licenses
            • Good knowledge of MS Office ( especially Excel, VBA a plus), Bloomberg
            • Ability to manage competing priorities. Working Conditions
              • When we return to the office, open concept trading floor environment with exposure to noise and distractions
              • Often required to work beyond normal business hours
              • Required to make frequent decisions in a fast paced work environment You embrace and champion change. You'll continuously evolve your thinking and the way you work in order to deliver your best.Your influence makes an impact. You know that relationships and networks are essential to success. You inspire outcomes by making yourself heard.You're digitally savvy. You seek out innovative solutions and embrace evolving technologies. You can easily adapt to new tools and trends.You're driven by collective success. You know that collaboration can transform a good idea into a great one. You understand the power of an inclusive team that enjoys working together to create a shared vision.What CIBC OffersAt CIBC, our people are our greatest asset. You'll become part of a diverse community that acknowledges everyone's unique talents, and empowers teams to do what's right for the client, and to do it well. As part of our team, you will:Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and at homeConnect: Work in a place where the right technology and infrastructure fosters innovation, collaboration and creativityDevelop: Grow your skills and career through our best-in-class onboarding experience, ongoing learning opportunities, individual development planning, and comprehensive product trainingProsper: Share in our collective success with a competitive salary, incentive pay, banking benefits, health benefits program, and employee share purchase planCIBC has a strategic growth initiative focused primarily in the U.S. and recently completed the -US$5 billion acquisition of The PrivateBank, a publicly traded commercial bank, as well as the -US$200 million acquisition of Geneva Advisors, a private wealth management company. 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 during the application or interview process, please contact
                • 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 Location300 Madison Avenue Employment Type RegularWeekly Hours40 Posted 3 Days Ago Full time 2107007 About Us At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.

                  Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.

                  Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.

Keywords: Canadian Imperial Bank of Commerce, New York , Director, SEC Swaps, Executive , New York, New York

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