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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.
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What You’ll Be Doing
Reporting to the Associate Vice President & Head of Product Management and Digital Solutions, the Senior Director, Liquidity Products and Accounts Services plays a pivotal role on the Senior Management Team. This position oversees the strategy, transformation, execution, performance, and daily operations of essential services, including Deposit Accounts, Virtual Account Management (VAM), Cash Concentration, Sweeping, and Pooling.
As the Senior Director, Liquidity Products Accounts Services, you will also ensure that all products are client-focused, operationally efficient, and fully compliant with internal policies and regulatory requirements. This role is integral to driving the ongoing development and growth of the Transaction Banking franchise and its positive contribution to the CIBC enterprise.
As the Senior Director, Liquidity Products and Accounts Services you will be accountable for:
- Designing and deploying VAM, Sweeping and Pooling products by leveraging market insights, stakeholder feedback, and performance analysis to ensure competitiveness, client relevance, and effective go-to-market execution aligned with Transaction Banking objectives.
- Innovating and enhancing our existing Accounts Services portfolio to provide value added products to our clients and increase overall market share.
- Leading the strategic planning, execution, and funding of initiatives related to Liquidity Products and Accounts Services portfolio to drive growth, innovation, operational effectiveness, and market competitiveness, ensuring alignment with client needs, stakeholder expectations, and CIBC's risk appetite.
- End-to-end product management by owning business objectives, driving exceptional customer experiences, strategically managing performance, prioritizing enhancements, aligning cross-functional teams, and ensuring accurate financial reporting.
- Ensuring our Liquidity Products and Accounts Services comply with all regulatory and internal requirements by proactively identifying gaps, coordinating remediation activities, and partnering with governance and compliance teams.
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- Developing and managing product pricing strategies, monitoring financial performance, ensuring competitiveness, and driving operational efficiencies to maximize profitability and client adoption.
- Leading, developing, and managing teams to achieve business objectives, foster employee engagement, ensure alignment with CIBC priorities, and uphold performance, compliance, and talent management standards.
- Building and managing strategic relationships and cross-functional collaborations with internal and external partners to ensure effective product distribution, industry alignment, and achievement of business growth objectives.
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
Strategy Planning
- Lead and participate in ongoing strategic business plans and business cases to ensure Liquidity Products and Accounts Services meet our client’s needs, maximize performance, growth and overall market share, are designed to be operationally effective and are align with our bank’s overall risk appetite.
- Drive execution of key business objectives, revenue, profit, and market share targets, while enhancing sales effectiveness and operational efficiency of products.
- Lead and support development of a comprehensive and strategic product roadmap, including designing and development of VAM, Sweeping and Pooling products, that delivers innovation and product enhancement in alignment with segment strategies and provide CIBC with a competitive edge.
- Work with internal and external stakeholders to define and execute on product roadmap factoring in people change management, infrastructure, resourcing, delivery timeline and required funding.
- Lead and participate in annual enterprise funding planning to ensure product roadmap is appropriately funded to enable and deliver planned launches and enhancements.
- Build out a systematic “factory like” approach to deliver process and product improvements and regulatory changes
Product Development and Go-To-Market
- Build and maintain deep product experience by staying informed on key industry trends in product innovation and client experience.
- Drive ongoing review and analysis of product performance and market positioning to ensure Liquidity Products and Accounts Services remain competitive and relevant.
- Embed an ongoing feedback circle from our clients and key stakeholders across the value chain that will enable team to respond to ongoing market circumstances
- Identify, recommend, design and implement product enhancement opportunities that align to client and stakeholder feedback and meet Transaction Banking objectives by assessing cost-benefit, customer experience impact, performance, and impact on target segments.
- Own, develop and execute on Go-To-Market plans for new products launches, including VAM, Sweeping and Pooling products, and enhancements through defining clear value prop, supporting collateral, updates for impacted processes and procedures and required training for frontline and support team.
Product Management
- Take full ownership of all aspects of the business, consistently striving to surpass business objectives and deliver exceptional client experience.
- Maintain and communicate compelling product value propositions and strategies through product collateral, and stakeholder engagement and training
- Accountable for product performance by strategically managing and analyzing KPIs, market trends, and the competitive landscape on an ongoing basis.
- Maintain and prioritize product backlog to ensure appropriate and timely product enhancements
- Ensure alignment with key support teams including Payment Products, Digital Solutions, Client Onboarding and Service, Production Support, Technology and Operations to ensure all processes and procedures are aligned to deliver optimum client onboarding and maintenance.
- Support the preparation of monthly, quarterly, and annual financial forecasts, ensuring accurate and timely reporting.
Product Pricing and Profitability
- Own and develop product pricing strategies to maximize profitability and drive client adoption
- Monitor financial performance of products vs defined benchmarks and relevant business cases.
- Monitor and evaluate product pricing vs competition to ensure that products are competitive for our clients.
- Evaluate product costs to drive operational efficiencies and enhance profitability
Regulatory Compliance
- Interface with Business Controls, Governance, Regulatory Affairs, Privacy, Audit and other internal partners to ensure products remain compliant with all regulatory and compliance obligations.
- Participate in remediation activities stemming from risk items, deficiencies, audits and any other sources, to ensure prompt, effective and sustainable remediation of gaps
- Proactively identify, report and self-assess any gaps pertaining to product processes, procedures and controls.
Leadership
- Effectively manage teams by fostering strong employee commitment to the organization, the team, and their individual roles.
- Lead, motivate and coach on an ongoing basis. Identify gaps and develop action plans to achieve optimum performance results
- Apply the Bank's performance managem
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