Senior Analyst, Quantitative Risk Modelling

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

What you’ll be doing

In the role of Senior Analyst, Quantitative Risk Validation, you’ll have the opportunity to join the CIBC’s Model Validation group. You’ll conduct model reviews where you’ll independently validate the CIBC’s analytical and statistical models, primarily for risk measurements and regulatory capital calculation for Market Risk and Counterparty Credit Risk related to Capital Market Risk Management (CMRM). You will also have the opportunities to review models used to support trading activities of Capital Markets, e.g. vanilla/exotic pricing models, algorithmic trading models, etc. You will review and provide feedback to the monthly independent pricing valuation (IPV) process and the deal booking check as needed.

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 1-3 days per week on-site, while other days will be remote.

How you’ll succeed

• Problem solving - Review the model's mathematical underpinnings, modeling rationale and assumptions as well as model’s inputs and outputs and provide assessment on the soundness of the model.

• Technical expertise and testing - Develop an independent numerical benchmark , using C, C++, or other suitable programming languages and tools, and conduct numerical tests to assess the accuracy of the model's implementation and any limitations of the model’s design.

• Critical thinking - Understand model risk and best practices on model validation approaches, and challenge the status quo.

• Report writing - Write a model validation report that includes a description of model and methodology, the testing approaches and results as well as model limitations/model operational conditions and model risk assessment.

• Communication - Understand the governance and controls on model risk management and be able to efficiently communicate potential issues or concerns on model risk to various stakeholders and senior management.

Who you are

• You can demonstrate knowledge of financial derivatives products and capital markets risk management practices, including the corresponding valuation and risk measurement models, e.g. VaR, Greeks, risk factors evolution models, etc. You have good programing skills using any of the following languages like: C/C++, MATLAB, R, Python, VBA, SAS, etc. It’s an asset if you have working experience in areas of model validation, model development, or any other quantitative analyst role, in financial banks.

• You have a Master’s or Ph.D. degree in the areas of Mathematical Finance, Financial Engineering, Applied Mathematics, and Statistics.

• You love to learn. Maintain up-to-date knowledge with regard to financial derivatives modeling and changing technology (e.g. AI/ML, etc.), and regulatory requirements on capital calculation and model risk management.

• You’re driven by collective success. You collaborate well in a team, learning from others and applying your skill set. You proactively seek new opportunities to define what’s possible.

• Values matter to you. You bring your real self to work and you live our values - trust, teamwork, and accountability. 

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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 [email protected]

• 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, 31st Floor

Employment Type

Regular

Weekly Hours

37.5

Skills

Applied Mathematics, C (Programming Language), C++ Programming Language, Capital Markets, Counterparty Credit Risk (CCR), Derivatives, Dev-C++, Financial Modeling, Market Risk, Mathematical Finance, MATLAB, MATLAB Programming, Microsoft Access VBA, Microsoft Visual Basic for Applications, Model Risk, Model Validation, Regulatory Requirements, Risk Management, R Programming, SAS Enterprise Guide, Statistical Models, Teamwork, Writing