Requisition ID: 15008980
Unposting Date: Jul 21, 2015, 8:59:00 PM
CIBC is a leading Canadian-based global financial institution. Through our three major businesses – Retail and Business Banking, Wealth Management and Wholesale Banking – we provide a full range of financial products and services to 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. We invest in our businesses, our clients, our people and our communities to deliver consistent and sustainable earnings to our shareholders.
CIBC focuses on what matters to our employees – access to career and development opportunities, safe and healthy workplaces, effective training, and positive work-life balance – so that employees are able to perform at their best, contribute to their communities and focus on cultivating deeper relationships with our clients.
Every year, CIBC is recognized for its business success, community commitment and employee initiatives. We are proud of this success and are committed to creating an inclusive workplace and an environment where all employees can excel.
CIBC Asset-Based Lending (“CIBC ABL”) is the asset-based lending unit of CIBC Commercial Banking. Based in Toronto and operating under a national mandate, CIBC ABL provides clients with customized loan placements secured by accounts receivable, inventories and fixed assets. Operating individually or as the Lead Bank in a larger syndicate, CIBC ABL concludes fundings for a wide variety of Canadian industries where its asset-focused structures provide greater flexibility than typical credit models for collateral rich companies.
Reporting to the Market Vice President, Asset-Based Lending this position is responsible for the overall growth and profitability of the CIBC Asset-Based Lending book in Western Canada. Responsibilities include direct development of asset-based lending business through both internal and external channels. External channels include accounting firms, lawyers, financial intermediaries, private equity and other forms of capital providers (all forms of Centre’s of Influence – “COI’s”). Internal channels include Commercial Markets executives, Relationship Managers, the Leverage Finance team, Risk Management and Special Loans. Accountabilities will include client development, transaction structuring, pricing, initial security deposits, asset/risk assessments, documentation in the defined territory for ABL facilities ranging from $10 million to +$100 million. The incumbent will actively target private equity groups; public and private companies (identifying potential new client accounts) and maintain an active database for direct calling efforts and a sales pipeline report. The BDO will be an “expert” resource (internal and external), be knowledgeable of industry trends & issues, regulatory issues, economic/political trends and client specific issues/needs.
What You’ll Be Doing
- Originates new ABL Business opportunities (credit facilities from $10 - +$100 million) by developing strong relationships with CIBC Account Managers, existing CIBC clients and third-party referral sources. This would include identifying ABL opportunities, connecting product benefits to customer needs, and communicating ABL processes and disciplines
- Achieve sales results for the Asset Based Lending group through sales and market leadership, implementing strategic marketing strategies and representation in the Western Canada marketplace and local industry associations (TMA, CFA. ACG, etc.).
- Work in partnership with all Commercial and Corporate Banking Centres, CIBC Executives to implement strategies, processes and disciplines to implement Asset Based Lending solutions, while ensuring the customer receives the highest level of value and service possible, resulting in a “differentiated” experience.
- Conduct product knowledge presentations to both internal and external network of potential referral sources.
- Prepare detailed written presentations (Early Engagement Memo’s – EEM) for internal review. During the credit review process, make concise verbal presentations and answer questions as required.
- Achieve stated sales objectives and activity plans and reviews progress against plan on a regular basis.
- Assists with the streamlining of the sales process to ensure transactions close within 60 days of the execution of the Letter of Intent (“LOI”) by the client.
- Create and operate in an environment that will provide the ABL Associate and Underwriters with sufficient and specific transaction details to facilitate an efficient and accurate flow of information from the inception of the deal through to the documentation process.
- Support may also include: Drafting of discussion papers, term sheets, LOI’s Review of Loan Agreements, covenants and security, Presentations to internal “deal teams”, Credit Committees, Risk Management (other) as may be required.
What We’re Looking For
- Minimum 5 years of commercial lending experience, preferably in a sales and marketing role or minimum 3 years experience in asset-based lending in a Portfolio or Underwriting role with exemplary marketing and communication skills. Previous experience in an asset-based lending role with proven sales skills would be a definite asset.
- Undergraduate degree in finance, accounting or business administration (BCom/BBA).
- Advanced business degree or professional designation (MBA/CFA/CA/CGA/CMA) or equivalent work experience would be an asset
- Proven sales and marketing skills with the ability to identify ABL target accounts, be able to articulate value proposition, overcome objections, mitigate transaction risks and close deals.
- Good understanding of the Asset-Based Lending product and marketplace.
- Strong communication skills, both oral and written, including strong presentation skills.
- Strong organizational skills and ability to multi-task, particularly the ability to work on a number of different transactions simultaneously.
- Motivated, deadline, goal oriented in order to meet sales objectives and both internal and external demands
- Willingness and ability to work extended hours and demonstrated flexibility and adaptability in order to meet sales targets and client requirements
- Well-developed financial modeling skills, strong computer literacy, including Microsoft Office.
What we Can Offer You
- Flexible health benefits, stock purchase options, competitive incentive pay and recognition programs
- Competitive salary and banking benefits
- Career growth, development and continuous learning opportunities
What You Need To Know
- Operates within an office environment with little exposure to adverse working conditions.
- This role requires the incumbent to work extended hours and display the personal flexibility required to balance conflicting interests, as well as occasional travel within Canada.
- Must be legally eligible to work in Canada at the location(s) specified above and, where applicable, must have a valid work permit or study permit that allows the candidate to fulfill the requirements of the role.