Vice-President, Professional Practices

at  CIBC

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.
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The Vice-President, Professional Practices leads Internal Audit’s strategic direction, modernization initiatives, methodology development and practice consistent with CIBC’s values and key drivers. The Vice-President (VP) will use their breadth of knowledge and experience in the areas of strategy, regulatory governance, internal control, and audit methodology. They will be responsible for the risk control framework to be used by Internal Audit (IA). They will provide an independent and objective assessment with respect to IA’s audit quality and ensure that the audit coverage and reporting meets the highest of professional and corporate governance standards and objectives including the standards of the Institute of Internal Auditors, the Information Systems Audit and Control Association, and applicable regulatory guidance, including OSFI guidelines and the Federal Reserve’s Supervisory Letter 13-1. The individual will act as the IA expert on regulatory requirements applicable to IA and the work undertaken by IA, across various jurisdictions, recognizing the current climate, which demands the utmost rigor and transparency regarding regulatory matters.
As an organizational leader, this role champions:

CIBC employee experience principles:

• Always professional… so our team members can excel and be their best professional self.
• Radically simple… so our team members can focus on what they need to do and make an impact.
• Genuinely caring… so our team members can feel valued for who they are and what they contribute.

CIBC leadership capabilities:

• Envisions the future…to innovate purposefully to create new value and harness new capabilities in order to meet the evolving needs of our diverse stakeholders.
• Inspires hearts and minds…to build an inclusive culture where we make bold choices, collaborate, and empower others to take chances and do what’s right for our stakeholders.
• Drives action and impact, together…to align with urgency around what matters, making decisions with speed and always making a real difference.

What You’ll be Doing

The VP, Professional Practices has overall accountability for:

• Audit methodology, as described above. Developing and maintaining audit methodology and ensuring the IA team is appropriately trained to execute quality audits.
• Liaising with regulators, from time to time.
• Developing and maintaining a comprehensive audit universe in conformance with the standards outlined above.
• Developing and executing on a quality assurance and improvement program, including identifying team learning needs resulting from these reviews.
• Overseeing the execution of IA’s continuous monitoring program, including ensuring changes in risk assessment are appropriately supported and communicated to senior management and the audit committee.
• Overseeing the process to ensure quality, accurate, and timely Internal Audit reporting to the Audit Committee, Executive Committee, regulators and other stakeholders, as required.

Shaping/Influencing Business Strategies and Strategic Planning:

• Establish, with the Executive Vice President & Chief Auditor and colleagues on the IA executive team, the vision, long-term strategic business direction, objectives and implementation plans for IA.
• Develop and continuously improve Internal Audit’s methodology and business practices with reference to emerging industry practices, regulatory expectations and internal audit standards. Ensure the on-going review and development of new and revised divisional policies.
• Oversee IA finances and people management (including resourcing strategy, orientation program and learning strategy).
• Support advisory/consulting services performed by our team related to strategic and operational changes focused on making our clients ambitions a reality.
• Participate in business or functional unit management committees, where appropriate, and provide expert consultation and advice on matters of risk and internal control.

Business partner relationships:

• Work collaboratively with IA colleagues to develop the strategic direction for the Internal Audit practice.
• Continuously improve IA practice management to ensure appropriate audit cycling and resource allocation that is responsive to changes in risk and control environment effectiveness. Support IA colleagues by providing an objective review of reports and recommendations provided to designated clients with a view to ensuring that they are supportive of the business’ strategic direction, proactive, forward looking and credible while creating enhanced value for business partners.
• Provide effective support to the IA’s management team by ensuring that practice development priorities reflect, and are aligned with, the priorities and needs of IA.
• Work with control groups within risk management to ensure sound control methodology and guidance.

Risk Management:

• Provide strategic leadership relating to emerging trends within the auditing industry.
• Provide leadership in maintaining an effective quality control process, including underlying measures.
• Oversee the development of analysis and reports prepared for the Chief Auditor in support of their accountability to the Audit Committee, Board, Risk Management Committee, Chairman and Executive Committee as required.
• Oversee the tracking and monitoring and reporting of Internal Audit and other sourced deficiencies including themes, risk, root cause and remediation status, including delays in remediation or risk mitigation.
• Oversee the development and implementation of the necessary tools for audit planning, executing, reporting, and monitoring of audits.

What We’re Looking For

• MBA or equivalent graduate degree, or Certified Public Accountant designation.
• Significant experience in a senior audit role.
• Deep knowledge of banking operations, in one or more areas of the business.
• Comprehensive knowledge of auditing practices, procedures and principles, and have the ability to analyze complex concepts and develop innovative solutions. Ability to identify opportunities for improvement and incorporate best practices into IA’s audit methodology, training and IA related communications.
• Expert applied knowledge of audit practice development and its component parts as well as corporate governance and risk management practices.
• Comprehensive understanding of the dynamics of internal control structures and environments and how to evaluate their appropriateness through audit examinations and control self-assessment methodologies.
• Leadership in assessing and benchmarking IA’s audit practice against industry best practices, regulatory requirements and the needs of the key IA stakeholders.
• Strong people management skills.
• Comprehensive skills sufficient to lead and motivate a professional workforce faced with significant change and increasing service expectations.
• Comprehensive knowledge of strategic, business and financial planning processes.
• Well-developed interpersonal and communication skills in order to establish effective relationships with senior executives within CIBC, members of the Audit Committee, OSFI and other bank Regulators, as well as counterparts in other organizations.
• Well-developed influencing skills sufficient to significantly promote and or negotiate on CIBC’s behalf in situations that involve recognizing and responding to underlying concerns where others need to be persuaded to accept compromise solutions.
• Problem-solving skills sufficient to creatively develop unique approaches and solutions necessary to resolve complex problems.
• Advanced interactive/presentation skills sufficient to convey complex conceptual information/ideas on issues requiring extensive interpretation and opinion.

What CIBC Offers

At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.

• We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program, defined benefit pension plan, an employee share purchase plan, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
• Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
• We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
• Subject to plan and program terms and conditions

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.
• We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, French proficiency, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.

Job Location
Toronto-81 Bay, 34th Floor
Employment Type
Regular
Weekly Hours
37.5
Skills
Internal Auditin

• Audit methodology, as described above. Developing and maintaining audit methodology and ensuring the IA team is appropriately trained to execute quality audits.
• Liaising with regulators, from time to time.
• Developing and maintaining a comprehensive audit universe in conformance with the standards outlined above.
• Developing and executing on a quality assurance and improvement program, including identifying team learning needs resulting from these reviews.
• Overseeing the execution of IA’s continuous monitoring program, including ensuring changes in risk assessment are appropriately supported and communicated to senior management and the audit committee.
• Overseeing the process to ensure quality, accurate, and timely Internal Audit reporting to the Audit Committee, Executive Committee, regulators and other stakeholders, as required