Associate, Innovation Banking

We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.

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.

To learn more about CIBC, please visit CIBC.com

CIBC Innovation Banking is a full-service business that delivers strategic advice and funding to North American technology & innovation clients (primarily B2B SaaS businesses) at each stage of their business cycle, from start up to IPO and beyond. With 15 offices across North America in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, San Francisco, Seattle, Toronto, and Vancouver, the Innovation Banking team builds long-term relationships with management teams and financial sponsors across the US and Canada by investing time to get to know each business. They leverage CIBC’s experience to structure credit and banking solutions to meet the unique needs of technology & innovation companies at all stages of development, as well as investing in Canadian and US-based venture capital and growth equity funds.

What You’ll Be Doing

You will be working directly as a member of the Innovation Banking US Early Stage & Venture (ES&V) Credit Solutions team based in Chicago, IL. The Credit Solutions team within Innovation Banking performs the underwriting for new credits & routine portfolio management duties for existing Innovation Banking credits.

As an Associate on the US ES&V Credit Solutions team you will be involved in all aspects of working with Deal Teams across our 11 US offices & our UK office including: underwriting analysis & due diligence, reporting on client accounts, regular monitoring of portfolio loan accounts to ensure compliance with all agreed terms, analyzing due diligence results to validate/verify lending eligibility, preparing screening memos, credit applications and other credit correspondence, analyzing borrowers’ financial condition and account status, and involvement with the negotiation of legal documentation/negotiations.

At CIBC we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.

How You’ll Succeed

• Credit Underwriting – Assist business developers and relationship managers to prepare financing proposals (structuring terms and conditions including security, covenants, and pricing) that properly reflect and compensate CIBC for assessed risk. Prepare draft recommendations on credit submissions and investment proposals to present to senior management, and take part in presenting commercial credit applications to risk management officers, answering any questions, and/or addressing concerns risk may have. Work with the business development teams throughout the underwriting process for new transactions, complete credit correspondence, review documentation, set up reporting, etc.
• Portfolio Management – Manage a portfolio of loan accounts while ensuring reporting requirements are met, financial covenant tests are completed correctly and on time, and comprehensive credit annual reviews are prepared and submitted to the risk group in a timely manner.
• Management Reporting – Provide management with information on accounts, proactively report on problems or issues, complete reviews and present analysis on borrowers’ financial condition.

Who You Are

• You have 1-2 years of experience in commercial banking/financing underwriting. Formal credit training is a plus.
• You hold a BS/BA Degree in Business, Finance, Statistics, Math or Economics, with a GPA of 3.6 or higher.
• You must be able to work independently, possess a desire to learn, and quickly develop knowledge of CIBC’s underwriting guidelines & parameters, as well as its commercial banking operations.
• You must have strong organizational and time management skills, and excellent verbal, written, and interpersonal communication skills.
• You must be able to collaborate with all related business partners, internally and externally, and meet established deadlines.
• Internship experience with commercial banks, business consultants, investment banks, and/or private capital funds (equity or debt) is a plus.
• Understanding the venture capital / start up ecosystem is a plus.
• You can demonstrate proficiency working with computers and Microsoft Office applications (specifically, Outlook, Excel, Word, and PowerPoint).
• Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability.

What CIBC Offers

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.

• We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program*, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
• 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.

*Subject to plan and program terms and conditions

What you need to know

• 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 [email protected]
• You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.
• We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). 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.