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About the Role

As the Senior Director, Model Quantification, you'll lead the ongoing development, maintenance, use, monitoring and performance of retail credit risk parameter models that support Regulatory Capital, Economic Capital and International Financial Reporting Standard 9 (IFRS 9) provisioning for CIBC’s retail lending products. You’ll act as a subject matter expert and trusted partner to colleagues across the business, Risk Management and regulatory bodies on matters related to probability of default (PD), loss given default (LGD) and exposure at default (EAD) models. In this role, you’ll guide a team of model developers, provide strategic and technical direction, and help ensure models are well governed, clearly documented and effectively implemented. You’ll also contribute to a strong risk culture by strengthening methodologies, supporting regulatory readiness and driving continuous improvement across the function.

Responsibilities

Lead the design, development, documentation and ongoing monitoring of retail credit risk parameters used in the calculation of Regulatory Capital, Economic Capital and IFRS 9 provisioning for CIBC’s retail lending portfolios.
Apply statistical techniques and quantitative methods to identify, assess and validate the drivers of probability of default (PD), loss given default (LGD) and exposure at default (EAD), and recommend enhancements based on model performance and emerging requirements.
Develop and maintain an overarching regulatory monitoring framework for retail credit risk parameters, conduct regular methodology reviews, and ensure alignment with CIBC policies, standards and regulatory expectations.
Collaborate with Model Validation, Retail Risk Analytics, business partners, senior management, Internal Audit, Compliance, Finance and regulators to support model approvals, address findings, assess gaps and drive effective remediation plans.
Ensure models are implemented successfully in source systems, prepare clear and concise development and review documentation, and present models through formal governance and sign-off committees.
Build and lead a high-performing team by setting clear direction, connecting work to business goals, developing team capabilities, providing timely feedback, fostering an inclusive and positive work environment, and supporting sound hiring and performance management practices.

Requirements

Deep quantitative and credit risk modelling expertise.
Advanced knowledge of retail credit risk parameter modelling.
Hands-on experience supporting Regulatory Capital, Economic Capital and IFRS 9 frameworks within a large financial institution.
Strong academic or equivalent industry experience.
Master of Science (MSc) or Doctor of Philosophy (PhD) in Computer Science, Mathematics, Engineering or a related discipline, or comparable experience with at least 5 years in credit risk model development.
Comfortable using spreadsheet and word processing tools.
Experience with statistical software and programming languages such as SAS, Python and R.
Ability to translate complex financial and statistical concepts into clear, practical insights for both technical and non-technical audiences.
Confidence working with senior leaders and control partners.
Ability to build strong relationships across teams, use sound judgment, and manage multiple priorities effectively.
Ability to create an environment where people can do their best work.
Values matter to you.
Bring your real self to work and live our values - trust, teamwork and accountability.
Legally eligible to work at the specified location(s).
Where applicable, must have a valid work or study permit.
May be asked to complete an attribute-based assessment and other skills test (such as simulation, coding, French proficiency).

Skills

Analytical Thinking
Control Frameworks
Group Problem Solving
Long Term Planning
Model Analysis
People Management
Risk Analysis
Risk Models
Risk Quantification
SAS
Python
R

Location

Toronto

Work Type

Hybrid
Regular
Full-time

Experience Level

Senior Director
At least 5 years in credit risk model development

Education Level

Master of Science (MSc) or Doctor of Philosophy (PhD) in Computer Science, Mathematics, Engineering or a related discipline

Benefits

Competitive salary
Incentive pay
Banking benefits
Benefits program
Defined benefit pension plan
Employee share purchase plan
Vacation offering
Wellbeing support
MomentMakers, our social, points-based recognition program
Purpose Day; a paid day off dedicated for you to use to invest in your growth and development

About the Company

We’re building a relationship-oriented bank for the modern world.
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.
Global Operational and Enterprise Risk Management (GOERM) provides independent oversight, analytics and governance to support the effective management of risk across CIBC.

Equal Opportunity

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
CIBC is committed to clarity in our hiring process.
All roles posted are opportunities we’re actively recruiting for, unless stated otherwise.
We use artificial intelligence tools during the recruitment process.
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.