CIBC
Director, Business Initiatives and Analytics Accounting, Finance
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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
Business Unit Description
The Finance group provides financial services to CIBC’s businesses through effective governance and decision support processes. These services include financial, management and regulatory reporting, maintenance of accounting records and internal controls, financial analysis and planning, tax planning and compliance, treasury, global sourcing and payment processing, regular reviews of business line performance, corporate real estate and liaison with CIBC’s investors. In addition, Finance assists Corporate Development in providing financial advice regarding CIBC’s business opportunities and transactions.
The group is also accountable for Treasury, specifically Liquidity Management, Capital Management, Treasury Analytics, Secured Funding, Unsecured Funding and Cash Management.
Line Of Business Description
The London Business Initiatives and Analytics (BIA) team provides expert information, advice and decision-making support to facilitate the success of CIBC Global Markets and Treasury businesses. London BIA provides three key services to our clients: daily financial estimates (DFE), accounting SME, and business initiatives and analytics support.
The team is accountable for supporting the delivery of new initiatives and providing finance assistance for production issues impacting the UK Front Office and Finance, accountable for the integrity and timeliness of gross revenue reporting; namely Profit and Loss (P&L) reconciliation and decomposition and providing expert analytical support to Senior Management on their daily Profit and Loss (P&L).
Job Purpose
Reporting into the Executive Director, BIA Accounting the Director, Business Initiatives and Analytics Accounting will be the London BIA point of contact to the London business and infrastructure partners. Interacting with Finance and Wholesale bank senior management, as well as partnering other infrastructure groups on initiatives (including global initiatives). Provide both analytical and initiative support and delivery to the Wholesale bank and Treasury businesses in London with a focus on the accounting aspects. Ensure team performs daily and month end reporting, reconciliations and controls.
Ensure Analysts and Associates are appropriately trained in various procedures and related products and appropriate documentation and controls are adhered to with respect to governance expectations/requirements of senior management.
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Key Accountabilities
Meet the key accountabilities below as assigned by the Executive Director BIA Accounting:
Strategic and New Initiatives
For the assigned London businesses:
- Provide London BIA Accounting input and feedback on CIRAs and CIBC policies.
- Act as Finance point of contact for the assigned London businesses on accounting related queries and requests, accountable for communicating status and resolution.
- Act as liaison point between other infrastructure areas on reporting process as it relates to new initiatives and products.
- Lead BIA Accounting team initiatives and projects. Represent London BIA on various project teams interacting with peers, Executives and business partners
- Act as advisory service to other Finance groups to promote continuous improvement to process.
Production and Analytics
- Ensure month end and quarter end reporting is complete and accurate.
- Understand and be comfortable with the relationship between the numbers being reported as part of the daily P&L for the Europe region and entities and the resultant accounting and balance sheets that are attested to by the Accounting group in Toronto.
- Initiate analysis to provide recommendations for improvements to enhance business efficiency and support
- Act as liaison point between other infrastructure areas on reporting process as it relates to production issue resolution.
- Provide local governance and control across all areas of trading
- Perform team admin tasks as assigned by manager.
CROSS-FUNCTIONAL RELATIONSHIPS
- Regular contact with CIBC Traders and Marketers (all levels – Director to Executive Director) to resolve booking issues and amendments impacting the general ledger.
- Regular contact with CIBC Back Office staff to resolve queries relating to cash settlements and trade bookings.
- Regular contact with CIBC Toronto Finance team to review and discuss details on reporting issues.
- Regular contact with CIBC Finance and/or Risk Management/Business Management with respect to queries.
- Quarterly contact (or as required) with internal and external auditors, and compliance with regard to processes and controls.
- Regular contact with CIBC Technology (all levels) on new releases regarding testing of data and functionality issue resolution of production issues and requirements for future enhancements
Compliance Requirements/Responsibilities
As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, guidelines and controls.
As the manager of people, this job must ensure all employees within the business unit comply with all applicable CIBC and Line of Business policies, standards, guidelines and control requirements
Must ensure compliance to all federal, state, local, and company-specific regulations, policies and guidelines affecting business practices. Follows adherence to issues and considerations relevant to own line of business.
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JOB DIMENSIONS
FTE: UK BIA Accounting consists of 5 team members and this role has no direct reports.
Knowledge / Skill Requirements
- Qualified Accountant is preferred with at least 3 years’ financial services experience (whether industry or practice) preferably in accounting based roles.
- Knowledge of relevant products including derivatives, fixed income and equity products.
- Well-developed organization and prioritization skills in order to handle multiple tasks (prioritizing daily work with various project work and demands of client base) within an extremely dynamic environment.
- Strong interpersonal, communication, and influencing skills to develop and maintain productive working relationships on very complex issues with the staff and management of Front Office, Risk Management, Technology, and Finance
- Self-motivated team player with a flexible approach to problem solving
- Able to accept and take responsibility without the need for continuous guidance
- Ability to work under pressure and to tight deadlines.
- Control orientated with a thorough and analytical approach
- Competent and well developed Excel skills are required
- Experience using emerging AI technologies to streamline development workflows, automate routine tasks and support technical analysis would be beneficial
WORKING CONDITIONS
- Role operates within a normal office environment with minimal risk of ill-health or injury;
- Work pressures caused by concentration on analytical work, conflicting priorities and project timelines can be significant in this type of role.
- Must be able to focus on projects for extended periods of time.
- Ability to work on a computer for extended periods of time.
- Must be able to handle the pressure of tight deadlines and occasional heavy workload
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 Mailbox.careers-carrieres@cibc.com 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
150 Cheapside, 1st Flr,London
Employment Type
Regular
Weekly Hours
35
Skills
Accounting, Accounting Processes, Analytical Support, Business, Business Data Analytics, Business Initiatives, Business Management, Business Policies, Communication, Cross-Functional Teamwork, Finance, Financial Analysis, Financial Controlling, General Ledger (GL), Group Problem Solving, Investment Funds, Leadership, Operational Control, Strategic Objectives, Taking Initiative, Team Development, Timeliness
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