Committee Member

Position description

In accordance with National Instrument 81-107 – Independent Review Committee for Investment Funds, CIBC’s Independent Review Committee (IRC) is responsible for overseeing all decisions involving an actual or perceived conflict of interest faced by the fund manager in the operation of the fund. As a result, members of the IRC are independent of CIBC, and vacancies and reappointments are determined by the IRC.

Members of CIBC’s IRC are expected to:

Demonstrate an understanding of the conflicts of interest presented to the IRC by the Manager.
Keep up to date on industry matters relevant to the IRC function.
Attend quarterly meetings at the Manager’s office, or other meetings, as determined by the Manager to consider conflicts of interest matters.
Prepare for meetings by reviewing meeting materials provided by the Manager and be prepared to actively participate in discussion at meetings.
Participate in continuing education programs.
Perform the functions mandated by, and otherwise comply with, NI 81-107 and the IRC Charter.
Help to identify new candidates, and participate in the hiring of new IRC members.

The IRC requires experience with and knowledge of various components of the investment fund industry in order to thoroughly assess CIBC management’s position on matters concerning conflicts of interest.

Therefore, the committee comprises members with varied backgrounds and ideally includes expertise across the following areas:
▪ Mutual Fund Operations
▪ Investment Securities
▪ Capital Markets
▪ Securities Trading
▪ Banking Operations
▪ Investment Vehicles
▪ Governance and Risk

Required skills / Experience

Of the highest integrity and personal character, the successful candidate has an impeccable reputation for investment acumen and industry knowledge.

They have experience in at least one of the following areas:

(i) mutual fund custody and operations;
(ii) securities trading; and
(iii) regulatory and compliance matters pertaining to the investment fund industry.

Having served as an executive in the financial services sector, the individual will have a career-long track record of successful leadership.

Additional international perspectives and a professional designation are highly preferred.

Crucially, members must be free of conflicts that would prohibit them from being impartial in carrying out the directives above.

Prospective members must attest to their independence and complete CIBC’s Independence Questionnaire, which will be provided separately to candidates and must be completed annually.

Beyond specific expertise and personal qualities, the committee seeks a member who can contribute meaningfully to technical discussions and decision-making across a wide range of topics. They are a confident, clear, and thoughtful thinker possessing excellent communication skills, with the gravitas and ability to support and challenge management in an engaged, informed, and constructive manner. The successful candidate must be free from any potential commercial conflicts that could hinder their effectiveness as a committee member.

It is expected that committee members be able to serve for a term of 10 years.

Committee Member

Committee Member

How to Apply