Director, Operational Risk

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What You’ll Be Doing

Global Operational Enterprise Risk Management (GOERM) is responsible for providing oversight of CIBC's global operational risk exposures, through the Operational Risk Management and Control Frameworks, related to people, technology, processes or external events.

The Third Party Risk Management (TPRM) Group is part of the Technology, Infrastructure & Innovation (TI&I) Operational Risk team, within GORM, and provides an enterprise-wide view of Third Party Risk and is accountable for the governance and effective challenge of third party risk and control activities. The TPRM group establishes clear lines of oversight among various stakeholder groups to ensure the right level of independence when overseeing and challenging Third Party Risk-related activities. TPRM also leverages GOERM operational risk program and practices, in alignment with the Operational Risk Management Framework, for the identification, measurement, mitigation, monitoring and reporting of third party risk. This includes review and challenge of Risk and Control Self-Assessments (RCSAs), Change Initiative Risk Assessments (CIRAs), Risk Appetite Statement (RAS) and Key Risk Indicators (KRIs), Risk Reviews, and Operational Incidents to support execution of its mandate.

The Director, Operational Risk in the Third Party Risk Management (TPRM) team, acts as the 2nd LOD by working with business units and Risk Management partners in all aspects of identification, measurement, mitigation and monitoring (effective challenge) of third party risk. The primary purpose of this position is to ensure CIBC has a sound and effective TPRM practice and program. This role also provides oversight to internal control assessment processes through independent review of design and measurement, deficiency management, and operational effectiveness of established internal controls that mitigate third party risk. In this capacity, the Director works in close partnership with the businesses as well as peers in GORM responsible for Operational Risk and Control Programs and other GORM partners to ensure a consistent and collaborative approach to delivery and information.
- 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._

How you'll succeed
- Program Oversight - Perform periodic review of the overall effectiveness of the TPRM program; Support processes and programs to enable effective identification, measurement, mitigation, monitoring and reporting of third party risk; Support established governance structures and processes to provide oversight of programs and both tactical and strategic initiatives to mitigate third party risk; Contribute to ensuring the design and operating effectiveness of third party risk control environment (e.g. control, testing, metrics etc.); Support the TPRM issues management process and contribute to program development.
- Operational Risk and Control Framework Tools and Programs - Working with and challenging assigned businesses to appropriately identify, measure, monitor and control third party risk through support of key operational risk tools (e.g. CIRA, RCSA, Risk Reviews, Incident Management, deficiencies, Scenario Analysis). Proactively working with stakeholders in identifying action plans in closing gaps/deficiencies and/or risk mitigation plans in minimizing CIBC’s third party risk exposures.
- Stakeholder Partnership
- In partnership with assigned business units, and in accordance with the Operational Risk Management Framework and the Control Framework, provide guidance and oversight in the assessment and establishment of internal controls, to ensure that the business operates within established policy and procedures and in accordance with CIBC’s risk appetite and expectations of its regulators. Provide third party risk advice to assigned business units to enhance the management of risk, including advising on risk mitigation strategies. This requirement includes the ability to work with senior management in advising on risk mitigation strategies.
- Metrics and Reporting - Contribute information to the content of reports for delivery to the Board, Senior Management, governance committees on third party risk status, trends, issues and mitigation strategies/plan; Support the development of key risk and performance metrics to monitor third party risk.
- Operational Effectiveness - Partner with stakeho