Director, US Model Validation

Chicago, IL

Full time

2621620

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 (https://www.cibc.com/en/about-cibc.html)

What you'll be doing

Our US Model Risk Management team provides independent oversight to help ensure models are validated, monitored, and governed in line with CIBC policy, US requirements, and regulatory expectations. As Director, US Model Validation, you'll provide effective challenge on model validation activities and lead the US Model Performance Management function as part of the second line of defense. You'll review validation reports and outcomes to ensure conclusions, findings, and recommendations are rigorous, well-supported, and fit for purpose. You'll oversee model performance monitoring across the US portfolio, including issue identification, escalation, tracking, and remediation, to help ensure models remain appropriate for their intended use. You'll also lead and develop the team supporting US Model Performance Management while contributing to governance, audit, attestation, and regulatory review activities. Through your leadership and sound judgment, you'll help strengthen model risk oversight, elevate validation quality, and identify emerging risks and themes across the US business.

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

How you'll succeed

• Validation oversight - Provide independent US oversight of model validation activities to ensure alignment with CIBC policy, US requirements, and applicable regulatory expectations.

• Effective challenge - Review and challenge model validation reports, including scope, methodology, assumptions, testing, findings, and conclusions, to ensure validation work is rigorous, well-supported, and appropriate for the model's purpose.

• Performance management - Lead the US Model Performance Management function by overseeing model performance monitoring, threshold breaches, issue escalation, remediation tracking, and governance reporting.

• Risk identification and escalation - Identify gaps, weaknesses, inconsistencies, and emerging risks in validation and performance monitoring activities, and escalate material concerns, policy exceptions, and regulatory issues to the appropriate stakeholders and governance forums.

• Leadership and execution - Manage the US Model Performance Management team through clear work allocation, quality oversight, coaching, and development to support consistent, high-quality execution.

• Governance support - Contribute to governance, audit, attestation, and regulatory review activities, and maintain current knowledge of US model risk management guidance and regulatory expectations.

Who you are

• You have relevant experience. You bring 10+ years of experience in model validation, model risk management, model performance monitoring, quantitative analytics, or a related oversight function within a large US bank. It's an asset if you bring 12+ years of experience and advanced exposure across multiple model types and risk categories.

• You give meaning to data. You enjoy investigating complex quantitative issues and assessing whether validation methodologies, monitoring approaches, performance metrics, and conclusions are appropriate for a model's purpose, complexity, and regulatory use.

• Your influence makes a difference. You present technical conclusions, challenge positions, and risk themes clearly and credibly to senior stakeholders and governance committees, and you know how to influence outcomes through sound judgment and thoughtful challenge.

• You are a caring and accountable leader. You have experience developing and implementing strategic team goals. You have experience coaching employees and inspiring successful team performance.

• You can demonstrate experience in quantitative modeling techniques, model validation practices, model performance monitoring, model risk management principles, and US regulatory requirements. It’s an asset if you have hands-on proficiency with tools such as Python, R, SAS, SQL, MATLAB, or similar analytical platforms.

• You have a degree/diploma in a quantitative discipline such as Mathematics, Statistics, Econometrics, Finance, Engineering, Physics, or Computer Science. An advanced degree, such as a Master's or PhD, is an asset.

• You live your values. You bring high standards, genuine care to your relationships, and want to grow with an employer that shares your values and brings out your best.

At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $220,000 USD - $250,000 USD for the market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which may also include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave and Vacation), Holidays and 401(k), in addition to other special perks reserved for our team members. #LI-TA

This position is not available for Visa sponsorship.

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*, 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, 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.

California residents — your privacy rights regarding your actual or prospective employment (https://us.cibc.com/en/privacy-security/california-consumer-privacy-act-employment.html)

Job Location

IL-Chicago, 120 S LaSalle St Fl 8

Employment Type

Regular

Weekly Hours

40

Skills

Analytical Thinking, Group Problem Solving, Implementation Planning, Leadership, Model Analysis, Risk Models, Risk Quantification, Stress Testing

At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.

Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.

Every day, our 48,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.