Head Credit Risk Model Management

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

CIBC faces a wide variety of risks across its US businesses, and prudent risk taking is integral to the core US businesses. Identifying and understanding risks and their impacts allows CIBC to frame its risk appetite and risk management practices. The Risk Management team helps define acceptable levels of risk, and establish sound principles, policies and practices for managing risks, which is fundamental to CIBC achieving consistent and sustainable long-term performance. 

As Head, Model Risk Management, you will be the designated Model Owner for all credit risk rating models used in CIBC's US lending operations. In this role, you will serve as the key bridge between model developers, business users, and US regulatory bodies, working in close partnership with the CIBC Model Development team and the US Model Risk Management and Validation function. You will be accountable for end-to-end lifecycle oversight — from initial scoping through recalibration and decommissioning - and regulatory compliance. Beyond core model ownership, you will actively contribute to enterprise-level strategic initiatives, including CIBC's Credit Process Transformation, co-development of first line tools along with our AI development team and building predictive analytics to support forward-looking assessment of portfolio credit risk to enable more proactive, data-driven risk management across the organization.

Success in this role demands a thorough understanding of credit risk rating methodologies, expertise in wholesale lending, and a solid grasp of FRB and OSFI model risk governance requirements. . A deep understanding of leading credit risk trends, emerging tools, and evolving industry best practices will be essential to ensuring CIBC's models and governance frameworks remain competitive, forward-looking, and aligned with market developments. Strong communication and interpersonal skills are critical, with the ability to engage effectively across regulators, senior stakeholders, and cross-functional teams.

What You'll Be Doing

Model Ownership & Lifecycle Governance

• Serve as the designated USA Model Owner for all credit risk rating models (PD, LGD, EAD) used in CIBC's US lending portfolios.
• Oversee the full model lifecycle: scoping, development, implementation, performance review, recalibration, and decommissioning, in line with FRB/OSFI guidance and CIBC policy.
• Establish and maintain performance monitoring frameworks, including back-testing, calibration, stability, and benchmarking.
• Identify and escalate model limitations or required changes to governance committees with appropriate documentation

Enterprise Credit Initiatives & Strategic Analytics

• Engage at the enterprise level on Credit Process Transformation initiatives, bringing modeling expertise to inform data requirements, portfolio analytics, and reporting needs across cross-functional efforts aimed at modernizing credit underwriting, adjudication workflows, and risk-decisioning frameworks.
• Partner with CIBC’s AI Development teams to co-develop innovative first line tools – including early warning systems, decision-support applications – that enhance the quality and efficiency of credit risk management across the lending portfolios.
• Lead the development of predictive analytics for US portfolio credit risk as needed, translating model outputs and portfolio signals into clear, actionable insights for senior leadership.

Liaison & Stakeholder Management

• Act as the primary liaison between model developers, model validation teams, credit adjudication users, business lines, and regulators.
• Facilitate transparent communication of model assumptions, limitations, and performance metrics to model users, senior leadership, and regulators. Ensure model users understand appropriate use boundaries.
• Present models through responsible governance committees for formal sign-off; coordinate with CIBC Model Validation and the parent development team to support validation activities and address findings.
• Partner with Risk Management units and business managers to assess gaps identified by regulators or internal reviews and develop and track closure plans.

Regulatory Compliance & Examinations

• Act as the primary credit risk model expert for engagements with US regulators (FRB and OCC), internal compliance, and internal audit — responding to examination findings, managing MRA/MRIA remediation plans, and presenting model performance and governance evidence.
• Coordinate cross-border model governance with the parent CIBC Model Validation and Model Development teams to ensure alignment with OSFI guidelines and CIBC group-level model risk standards.
• Monitor evolving OSFI / FRB guidance and industry best practices and trends in credit risk rating processes and governance; proactively assess implications for the CIBC US model portfolio and escalate required actions.

Team Leadership & Operations

• Lead and develop a small US-based modeling team; assign responsibilities, manage workload, assess performance, and foster a culture of rigor, accountability, and continuous improvement.
• Manage team resources to meet governance deadlines, examination schedules, and model review cycles. Maintain acceptable service levels to internal model users under changing priorities.
• Recommend and implement improvements to credit risk rating model management processes, documentation standards, and monitoring frameworks to enhance operational effectiveness and regulatory readiness.

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 3-4 days per week on-site, while other days will be remote.

Who You Are

• Preferred MSc or PhD in Finance, Economics, Mathematics, Engineering or other relevant quantitative discipline or at least 10+ years of relevant credit risk modeling experience within a large financial institution.
• Deep knowledge of credit risk rating models, including the development, implementation and monitoring of PD, LGD, and EAD models, with familiarity in methodological challenges inherent in low-default and sparse data environments.
• Working knowledge of AI/ML techniques and their application in credit risk modeling, including machine learning-based scoring models, and an understanding of the governance considerations associated with deploying AI/ML models in a regulated financial environment.
• Proficiency in analytical and model development tools such as Python, R or SAS.
• Strong analytical, organizational, and strategic planning skills, with the ability to manage multiple priorities in a complex, fast-paced environment.
• A collaborative and entrepreneurial mindset with sound judgement, strong interpersonal skills, and a demonstrated ability to drive create solutions across cross-functional teams.
• Strong written and verbal communication skills, including the ability to present complex quantitative concepts clearly and persuasively to senior executives, regulators, and non-technical stakeholders.
• Sound knowledge of risk governance regulations and guidelines applicable to federally regulated financial institutions.

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

• CIBC is committed to clarity in our hiring process. All roles posted are opportunities we’re actively recruiting for, unless stated otherwise.

• 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 test (such as simulation, coding, French proficiency).

• We use artificial intelligence tools during the recruitment process. 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

81 Bay Street, Banking Centre

Employment Type

Regular

Weekly Hours

37.5

Skills

Analytical Thinking, Continuous Improvement Techniques, Control Frameworks, Group Problem Solving, Long Term Planning, Operation Risk Management, People Management, Regulatory Requirements, Risk Analytics, Risk Governance