Vice-President, Finance, Functional Groups

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

The Vice-President, Finance, Functional Groups leads strategic finance activities and planning process for the functional groups. Working with the executive leadership teams of the functional groups the VP Finance leads the financial strategy to support scalable growth. The VP Finance provides specialized finance leadership with the objective of optimizing the business value of  functional groups’ expenditures and financial management, as well as centrally managed administered expenses and translating the expenses into business drivers in support of discussion between the Functional executives and the businesses they support.

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

Financial Leadership and Decision Support

• Provide business decision support to CIBC’s Functional Group leaders based on an understanding of key business drivers and the impact decisions may have on Strategic Business Units (SBU) and Line of Business (LOB) performance.

• Lead short and long-term financial planning for CIBC’s Functional Groups through in-depth financial analysis and consultation with key stakeholders.

• Ensure integrity of financial and management performance and bring discipline and expertise to financial, operational and audit activities.

• Assume a leadership role on complex projects and initiatives that support LOB objectives.

• Set enterprise wide standards and practices for project finance and manage the Project Finance governance team.

• Establish processes to gather and understand LOB strategic priorities, financial plans and estimates of future financial results. Communicate the results and provide advice on potential areas of change.

• Contribute to the CIBC-wide reporting of Functional Group expenditures and key performance metrics through timely and accurate financial information. 

• Provide competitive benchmarking and performance measurement expertise to LOB leaders and their executive teams and to other groups as requested to support business decision processes.

• Provide analysis and recommendations regarding the financial performance of the LOBs with regard to plans, actual results, forecasts, trends, future directions and external benchmarks.

• Develop and maintain a deep understanding of the individual businesses in aggregate including trends indicated by current results and/or external factors.

Financial & Management Reporting, Planning & Performance Measurement

• Leverage existing processes and establish new process where required to gain an understanding of the monthly & quarterly results and communicate financial performance to LOB leaders and their executive teams.

• Provide in-depth financial analysis at each quarter-end to key stakeholders, while ensuring that advice is consistent and accurate.

• Act as the primary interface with CIBC’s Functional Groups as it relates to the SBUs understanding functional expenses and allocated revenues.

• Develop and report quarterly on LOB performance against key objectives.

• Provide business finance and advisory services for all LOB financial transactions, including both operational and capital transactions.

• Provide recommendations for managing expense levels, creating efficiencies and support cost management activities across the Functional Groups.

• Provide insights on cost drivers of  Functional Groups to align costs charged to SBUs.

• Identify and implement technology solutions that enhance the timely delivery of reports to management and reduce the risk of error or delays.

• Develop and maintain key relationships with Functional Group leaders, their business partners and Finance peers.

Governance and Control

• Responsibility for second line of defense and effective challenge of these groups.

• Act as the primary interface with the Controller’s group to ensure an appropriate flow of information to enhance the overall governance structure.

• Provide financial stewardship of the business, in support of the governance groups, to ensure LOBs understand and comply with practices and regulations pertaining to CIBC.

• Influence timelines and processes of central groups to foster mutually beneficial outcomes.

• Ensure business cases, contract and risk assessments are reviewed, signed off, and results-tracking mechanism in place.

What We’re Looking For

• Business / Accounting degree and/or recognized professional accounting designation or equivalent and extensive knowledge of the financial services industry.

• Experience fostering a culture of employee growth and motivating a high performing team of financial professionals.

• Proven ability to establish credibility with business partners and build influential relationships across the organization bringing teams together to achieve enterprise goals.

• Seasoned analytical, financial professional with a sophisticated understanding of the importance of cost control, efficiency and allocating finance resources for maximum performance, balancing risks and benefits.

• Ability to navigate complex financial decisions, provide effective challenge in the best interest of the organization and courage to challenge the status quo.

• Advanced knowledge of the practices, procedures and principles in the field of finance including accounting, planning, capital budgeting, investment and reporting principles and practices sufficient to interpret and analyze high-level complex concepts and apply these in unique ways.

• In-depth understanding of Technology and Operations businesses: products, processes performance indicators and drivers.

• Excellent communication, negotiation skills and ability  to articulate your views and recommendations to senior executives and cross-functional colleagues.

• Courage to challenge the status quo and provide creative, innovative and unique approaches and solutions necessary to resolve complex business and financial problems and move the organization forward.

• Demonstrated project and process management capabilities, including experience in implementing a major change in a large organization.

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, 9th Floor

Employment Type

Regular

Weekly Hours

37.5

Skills

Financial Management