Executive Director, Head of Compliance & Anti-Money Laundering Reporting Officer

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.

Complementing the specific responsibilities below, the purpose of this role is to discharge the Compliance and FCC Department’s Luxembourg mandate. The Executive Director will lead the development and implementation of the Compliance and FCC program in Luxembourg and provide independent oversight, assess the adequacy and effectiveness of the controls, the status of regulatory compliance and follow up with management on compliance and FCC issues identified. The Executive Director in Luxembourg must be pro-active and highly responsive in a business environment where decisions have to be made in stressful, time sensitive situations where information is often ambiguous and incomplete. The role is also expected to keep abreast of developments in an ever-changing regulatory environment and their impact on the business.

The role has the authority to access CIBC’s records, information and personnel in order to fulfill the responsibilities of this role.

• To ensure that an effective FCC and Compliance program is in place within CIBC Luxembourg to identify regulatory requirements and develop, update and maintain the relevant Compliance and FCC parts of the appropriate manual, guidelines, policies and procedures to satisfy the local and CIBC global requirements, including developing and maintaining adequate anti-money laundering policies and training.
• To update and manage CIBC Luxembourg’s Compliance & Financial Crime policies and procedures in order to mitigate the risk that the firm might be used to further financial crime, market abuse or other activities in contravention of regulatory requirements in the region.
• To review draft legislation and/or policies to assess the impact on relevant Luxembourg businesses pertaining to Compliance and FCC, keep CIBC Luxembourg Senior Management informed and advise them on appropriate changes to business models, practices, controls or processes required to comply.
• To participate in business committees and working groups and provide subject matter expertise in regulatory issues and challenge with respect to Compliance and FCC risk. 
• To monitor activities for Compliance and FCC and escalate significant regulatory issues or material incidents of non-compliance to senior management of CIBC Luxembourg and where appropriate the Head of Compliance, Europe and/or the Head of Financial Crime Compliance, Europe & Asia-Pacific promptly including providing recommendations for corrective action.
• liaise with regulatory bodies (e.g. Commission de Surveillance du Secteur Financier),where needed to ensure common understanding of regulatory requirements, what procedures need to be in place to adhere to them, as well as the resolution of non-compliance issues. 
• Oversee the local regulatory regime covering:
  • MIFID & MIFID rules
  • Market Abuse Regime (MAR) rules
  • Conduct of Business rules
  • AML Transaction Monitoring
  • Sanctions
  • All aspects of KYC (including PEPs, CDD & EDD)
  • Regulatory Reporting (where applicable)
  • MI to senior management 
• To provide Compliance and FCC advisory services in a pro-active manner to management and employees in the various business lines of CIBC Luxembourg, including input and advice on strategy development, new products and services and other key decisions where a potential Compliance and FCC risk could arise.
• Provide induction training to new employees and additional regulatory training as and when required on Compliance and FCC related topics.

• Detailed knowledge of relevant compliance and financial crime regulations that impact the CIBC Group under the Luxembourg mandate;
• Excellent and detailed knowledge of current Luxembourg compliance and financial crime standards;
• Sound judgment and ability to independently interpret complex regulatory issues and to provide comprehensive guidance to businesses in a straightforward manner;
• Well-developed interpersonal skills, with an ability to establish strong relationships in order to build trust amongst all stakeholders (both internally and externally);
• Ability to work in a challenging environment while exhibiting poise under severe conditions;
• Creative problem solving skills;
• Strong attention to detail;
• Effective and clear written and oral communication and presentation skills;
• Be pro-active and possess strong time management skills in order to prioritize and work on multiple projects simultaneously and manage competing priorities;
• Detailed knowledge of compliance and financial crime regulations locally, and general knowledge of global requirements applicable to CIBC’s Luxembourg mandate;
• Ability to effectively challenge anyone, including senior management; and
• Provide effective and cooperative liaison with regulators.

• 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