Accelerating gender equity in finance
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CIBC Asset Management is Canada’s fourth largest asset manager, with over $230 billion in assets under management and a 50 year history of actively managed investment mandates. CIBC Asset Management invests through 4 primary management and research teams:

  1. Fixed Income
  2. Equities
  3. Multi-Asset and Currency Management
  4. Total Investment Solutions
Experience:

Senior-level

Education Required:

An advanced degree in business, economics, or finance is preferred. Professional degrees (CPA/CA, CFA, JD, etc) are viewed favourably.

Salary Range:

Not Specified

Position description

CIBC Asset Management has an Independent Review Committee (IRC) responsible for overseeing all decisions involving an actual or perceived conflict of interest faced by the fund manager (CIBC) in the operation of the fund. Independent Review Committees are a policy solution mandated by National Securities Instrument 81-107 which came into force in 2006 and requires that every investment fund that is a reporting issuer in Canada have an IRC.

Members of CIBC’s IRC are expected to:

  • Demonstrate an understanding of the conflicts of interest presented to the IRC by the Manager.
  • 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 is similar in some respects to the audit committee of a  public company board:

  • Unlike an audit committee, instead of having a close working relationship with the CEO, CFO and Internal Audit team, the IRC’s working relationships are mainly with the investment and compliance officers of CIBC Asset Management.
  • IRC decisions are final. Unlike an audit committee, resolutions do not go to the board for final approval.

As a result, members of the IRC are not employees of CIBC and are instead appointed by the committee at the behest of fund unitholders.

Required skills / Experience

Members must be free of conflicts that would prohibit them from being impartial in carrying out the directives above. Prospective candidates must attest to this independence and sign CIBC’s Independence Questionnaire ahead of any interviews.

Of the highest integrity and personal character, the successful candidate has an impeccable reputation for investment acumen and industry awareness. The IRC requires experience with and knowledge of various components of the Wealth Management industry in order to thoroughly assess CIBC management’s position on matters concerning conflicts of interest. Therefore, the composition of the committee has varied backgrounds and ideally covers the following:

  1. Capital markets
  2. Asset and wealth management
  3. Mutual fund industry specifically
  4. Regulatory experience

Beyond specific expertise and personal qualities, the committee seeks a member who can contribute meaningfully to strategic and 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.

Board Opportunity: Investment Review Committee Member
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How to Apply

Please submit a CV and cover letter to CIBCIRC@russellreynolds.com. The posting will remain open for 30 days. You must also attest to being free of conflicts with CIBC Asset Management if you are selected to interview.

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