CIBC Senior Analyst, Business Controls Full Time in Montréal, QC


Branch Montréal QC CA

Senior Analyst, Business Controls
Montréal, QC

Our assets include those under institutional money management for pension funds, endowments and insurance funds, private wealth management, and those that are…

CIBC Asset Management is one of Canada’s largest asset management firms with approximately $100 billion in assets under management. We are leaders in providing a broad range of high-quality global investment management solutions to retail and institutional clients.

Our assets include those under institutional money management for pension funds, endowments and insurance funds, private wealth management, and those that are part of the CIBC family of mutual funds such as CIBC Mutual Funds and Renaissance Investments family of funds and the CIBC family of managed portfolio solutions such as Managed Portfolio Services (MPS), Personal Portfolio Services (PPS), Frontiers Pools, Axiom Portfolios.

At CIBC, our goal is to help our clients achieve what matters to them. Our philosophy is based on the CIBC values of Trust, Teamwork, and Accountability and we achieve results for our clients through an in-depth disciplined investing approach based on rigor and research.

Reporting to the Assistant Manager, the Senior Analyst will be involved in all areas of Business Controls’ compliance monitoring activities. He or she will be expected to deliver compliance reviews of CAM’s operations, in accordance with Business Controls’ compliance monitoring methodology and within timeframes outlined in the annual monitoring plan. The main objectives of the monitoring are: 1) to validate the firm’s adherence with compliance policies and procedures, client requirements, and regulatory requirements; and 2) to assess whether adequate key controls are in place and operating effectively. Compliance monitoring is performed in all operational areas including trading, portfolio management, client servicing, marketing/ business development, and operations.

The Senior Analyst is accountable to:

Execute assigned compliance reviews within given timeframes in a manner consistent with Business Controls’ monitoring methodology. Test the effectiveness of the internal controls & processes and provide assurances that controls are adequate and functioning effectively

• Extract and manipulate data from various sources for analysis, risk assessment and scoping of compliance monitoring, based on Business Controls’ compliance monitoring needs

• Create, document and maintain current monitoring procedures. Analyze policy, procedure and client-specific requirements in order to develop appropriate and relevant compliance monitoring tests and procedures ensuring all requirements are identified and adequately tested

• Where necessary, meet with management and staff of various departments to understand operational processes and controls in order to develop appropriate compliance tests

• Document results of compliance tests in a manner that clearly and concisely demonstrates the results of each test. Consult with the Business Controls management, regarding compliance and/or operational issues encountered during compliance reviews

• Draft exception reports outlining any issues noted during the reviews, recommendations for operational improvements and/or changes that address operational weaknesses, and discuss action plans with individuals responsible for the activity reviewed

Support the development, testing, and implementation of automated analytics using ACL and other tools. Act as subject matter expert for the ongoing execution of automated tests

• Maintain a library of continuous analytics test scripts through regular updates

• Conduct timely and effective analytics on specific operational activity and generate results/ analysis for satisfactory results or areas of weakness/ deficiency

• Identify patterns of transactions as well as significant deviations from normal activity and/or highlight potential errors, irregularities, unusual transactions, events

• Develop analytic strategies for specific activities and processes in order to perform ongoing reasonableness tests such as trend analysis, intra-period and inter-period comparisons, variance analysis

Organize and analyze data from various databases and/or across multiple systems to support and enhance compliance monitoring and Business Controls’ management decisions

Maintain complete, meticulous, consistent and organized documentation on all work performed

Work on special projects related to the Business Controls department

Assist the Business Controls team in responding to compliance-related inquiries from internal and external clients as necessary

Regular contact with representatives from all areas of CAM as well as the CIBC infrastructure groups such as: Global Operations, Compliance and Legal.

As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.

This Senior Analyst can make recommendations for operational improvements and/or changes that allow CAM to comply with CIBC and CAM policies and procedures as well as enhance the efficiency and effectiveness of operational controls.

The compliance reviews may include activity from all aspects of CAM’s operations and could cover activity in either or both Montreal and Toronto locations.

Education and Accreditations:
Must have a university degree in Accounting, Finance, Business or a related field

Required Business/ Technical Knowledge and Soft Skills:
3-5 years of relevant experience in asset management, mutual funds, financial services operations

2-4 years’ experience in auditing and/or compliance monitoring experience in one of the above fields. Strong knowledge of auditing methodology, techniques, processes, and standards

Demonstrated knowledge of ACL data analytics software

Advanced level user of Microsoft Excel. Intermediate level user of Word

Understanding of asset management trading, portfolio management and operations is an asset including experience with equity, fixed income and derivatives trading (including currencies)

Must have strong analytical and critical thinking skills. Must be able to make links between disparate information and data

Must be able to qualify data in an easily understandable fashion, organize it in a logical manner and show clarity of thought that clearly demonstrates the testing performed; the results achieved, including the areas of compliance, non-compliance and risk

Must have meticulous attention to detail with very high professional writing and documentation standards – accuracy, consistency and presentation

Must be a curious, self-motivated/ self-starter with strong organizational, and problem solving skills.

Must be results oriented, able to work independently, remain flexible and manage and prioritize workloads (with shifting priorities) in order to meet deadlines

Strong teamwork and collaboration skills can anticipate and recognize areas of conflict, able to elicit relevant input and feedback from others in a diplomatic and timely fashion

Able to engage with all levels within the firm and remain resilient

Strong communication skills in both French and English

Additional Knowledge and Skills:
Knowledge of Canadian securities legislation (NI 81-12, NI 81-107, NI 81-106, NI 31-103, NI 23-102) is an asset

Experience with derivatives is an asset

Operational risk management experience is an asset

This role operates within a normal office environment with little exposure to adverse working conditions

May include occasional travel between Montreal and Toronto

or proceed with Standard Application Form.

Employment Type: Full Time
Location: Montréal, QC, CA
Posted on: 2015-01-25
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