Executive Director, IG Credit Trader

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

Global Markets, Fixed Income, is seeking an Executive Director level IG Credit Trader in New York to support the overall expansion of our USD Credit Trading business. This will be a line risk taking role, with a focus on the following sectors: Canadian Banks in USD, Autos, and Captive Finance. We are seeking an experienced trader to work alongside our existing credit trading team and broaden the sector offering for our Credit Trading platform. Expanding our US Credit Trading platform is key to growing our US footprint, with focus on winning more underwriting mandates, realizing synergies with our lending books. The role will work closely with sales teams to assist in the marketing of the product to increase market share and grow the client base. This will also increase CIBC’s risk profile in this space.

The Executive Director will be responsible for planning, organizing and developing research products and actionable trade ideas; contributing to the brand of CIBC Capital Markets with the objective of attaining benchmark status in the industry; generating revenue for the firm from sales and trading, and underwriting. These objectives are accomplished by producing publications and ideas providing an analysis and summary of a wide variety of current and forecasted corporate investment information, for distribution to internal staff, borrowers and lenders.

This role operates within a normal office environment. Occasional travel will be required.

At CIBC we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.

How You’ll Succeed

• Execute trades as a market maker across specified sectors, based on analysis of current and projected market conditions.

• Manage a liability trading book within established risk parameters, with focus on profitability as well as market share.

• Utilize hedging and arbitrage strategies to minimize losses and maximize revenue where appropriate

• Provide advice to internal partners in our Syndication group, including pricing / trading levels, market insights, and credit views to facilitate growth of our DCM franchise.

• Provide liquidity on CIBC-led new issues.

• Provide added value to the clients by: developing and presenting trade ideas and opinions; identifying the relative value of products in the various markets.

• Work closely with our existing team of traders, sales and analysts as well as related desks in CAD.

• Conceive of and/or contribute to the development of new trading ideas and strategies, and ideas that will help move products while meeting client needs. Communicate same to Sales and Trading Staff on an on-going basis.

• Work effectively within CIBC’s corporate governance practices and policies (Risk Management, Finance, Human Resources, Legal and Compliance) to ensure compliance with CIBC’s Governance and Control Framework and regulatory requirements.

Who You Are

• You hold a Bachelor’s degree and have at least 5 to 10 years of experience in a trading role.

• Expertise in IG Corporate Credit Trading: in-depth knowledge with a focus on Banks, Autos, and Captive Finance.

• Market Acumen: strong understanding of markets, liquidity and established client relationships.

• Proficient in financial markets, credit and market risk, with the ability to implement trading and hedging strategies.

• Strong interpersonal skills to develop relationships and capitalize on business opportunities.

• Demonstrated commitment to client satisfaction.

• Macro-Economic Insight: solid understanding of relevant economic factors.

• Must be proficient with credit e-trading platforms, and be able to pro-actively identify and anticipate new trends in the space to keep our strategy forward-thinking and competitive.

• Regulatory Knowledge: comprehensive understanding of governance and regulatory requirements.

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

At CIBC, we offer a competitive total rewards package. This role has an expected salary of USD$250,000 for the New York, NY 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 also may 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.

Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.

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 Mailbox.careers-carrieres@cibc.com

• 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.

Job Location

NY-300 Madison Ave., 5th Floor

Employment Type

Regular

Weekly Hours

40

Skills

Analytical Thinking, Capital Markets, Customer Engagement, Financial Modeling, Global Market, Investments, Leadership, Market Trading, Process Improvements, Researching, Solution Strategies

Salary : $250,000