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About the Role
We are seeking a Commodities Counsel to provide legal and regulatory advice for CIBC’s physical and financial commodities trading activities. The role supports CIBC’s Commodities team across energy, metals, power and environmental products, with a strong focus on transaction structure, regulatory analysis and risk identification.
Responsibilities
- Provide day-to-day legal coverage for physical and financial commodities trading
- Draft, review, and negotiate a range of commodity financing and hedging agreements, including loans, leases, consignments, prepays, repos, forwards, options, and swaps, as well as security agreements, intercreditor agreements, and guarantee agreements supporting the foregoing
- Support the business with amendments to existing credit agreements as needed
- Review and advise on commodity storage and transportation agreements as needed
- Advise on enforceability risks associated with these agreements
- Advise on CFTC, FERC, and other regulations applicable to commodities trading in partnership with Compliance and Risk teams
- Provide time-sensitive legal advice to sales and trading personnel within CIBC’s US Capital Markets commodities business unit
- Analyze licensing and non-disclosure agreements that may be needed in support of the commodities business
- Support new commodity trading related initiatives advanced by CIBC’s US Capital Markets commodities business unit in a rapid-paced environment
Requirements
- Demonstrate a solid foundation in the documentation of physical commodity transactions
- Review collateral packages to identify key terms and advise on the structuring of transactions to mitigate risk associated with debtor insolvency, commodity title claims, security interest perfection, and other risks related to CIBC’s secured creditor status
- Have knowledge of relevant US commodity derivatives regulatory requirements and US bankruptcy principles
- Demonstrate the capacity to engage and manage external counsel as and when needed based on business requirements and transaction complexity
- Experience dealing with major physical commodity classes relevant for CIBC, including, but not limited to, metal, natural gas and power, and environmental commodities
- Experience advising on U.S. Federal Energy Regulatory Commission (“FERC”) and ISO/RTO licensing and/or membership requirements and their applicability to commodity transactions
- Advise the business and relevant compliance teams on the implementation of relevant requirements and processes
- Have a strong working knowledge of standard Master Agreements under which physical commodities are transacted, including the ISDA, NAESB, EEI, and associated physical annexes and credit documentation
- Have a working knowledge of emissions trading schemes and the documentation of transactions relating to environmental products
- Demonstrate an understanding of the trading book and the use of hedging tools, including listed futures contracts, to mitigate risks associated with CIBC’s hedging and financing activity for clients
- Coordinate legal advice across a range of internal stakeholders across North America and London, including compliance teams, trading desks, sales personnel, credit risk teams, and senior business management
- JD from an accredited US law school
- NY State Bar admission in good standing
- 5 to 7 years experience as counsel in a top law firm, financial institution, commodity trading firm or US regulatory or self-regulatory organization in financial services
- Understanding of U.S. regulatory landscape for coverage area
- Strong interpersonal skills in order to maintain working relationships
- Excellent communication, drafting and negotiation skills
- Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability
- Must be legally eligible to work at the specified location(s) and, where applicable, must have a valid work or study permit
Skills
- Business
- Business Contracts
- Business Transactions
- Communication
- Contract Negotiations
- Critical Thinking
- Decision Making
- Documentations
- Legal Consulting
- Litigation
- Strategic Advice
Location
- New York, NY
Work Type
- Regular
- 40 Weekly Hours
Experience Level
- 5 to 7 years experience
Education Level
- JD from an accredited US law school
- NY State Bar admission in good standing
Salary/Compensations
- $175,000-$205,000
Benefits
- Medical
- Dental
- Vision
- Health Savings Account
- Life Insurance
- Disability
- Other Insurance Plans
- Paid Time Off (including Sick Leave, Parental Leave, and Vacation)
- Holidays
- 401(k)
- Competitive salary
- Incentive pay
- Banking benefits
- A benefits program
- A vacation offering
- Wellbeing support
- MomentMakers, our social, points-based recognition program
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.
- 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.
- 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.
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