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

What you’ll be doing

As an Associate Portfolio Manager (APM), Global Credit, you will play a pivotal role within the Global Credit Team, contributing meaningfully to the management of our cash bond and credit derivative strategies, with a primary focus on global credit. You will collaborate closely with senior portfolio managers, fellow associate portfolio managers, and credit analysts, leveraging collective expertise to drive strong investment outcomes. In this position, you are responsible for actively managing global credit portfolios by shaping investment strategies and overseeing trading implementation. Your strategic approach will encompass country, sector, and issuer positioning, security valuation and selection, and tactical use of credit derivatives. You are expected to develop informed perspectives on issuers, sectors, and macroeconomic trends, working in partnership with our research professionals and broader global fixed income team. Additionally, you will contribute to client service and marketing initiatives, supporting both institutional and retail clients and fostering strong relationships across our client base.

At CIBC, we enable the work environment most optimal for you to thrive in your role. To successfully perform the work, you’ll be on-site full-time.

The expected annualized base salary range for this $130,000 to $170,000.

The base salary is determined by a variety of factors, including the candidate’s skills, experience, and job-related knowledge, as well as geographic location and specific business needs. Our compensation philosophy supports ongoing growth and development, enabling progression within the salary range as team members advance in their roles.

In addition to base pay, compensation for this role includes participation in an annual discretionary incentive or bonus program.

We are committed to providing fair, equitable, and competitive compensation opportunities for all employees and we encourage open conversation about compensation throughout the recruitment process.

How you’ll succeed

Portfolio Management - You are responsible for actively managing the portfolio by staying informed on current positions, monitoring risk exposures, updating and maintaining quantitative models, cash flows, updating credit memos, and seeking approvals for new investments. You collaborate closely with sales, product, compliance, and client servicing teams at Global Asset Management (GAM).

Portfolio Construction –You will play a key role in portfolio construction within the global credit space. You will contribute to the design and implementation of diversified portfolios by performing rigorous analysis on global credit markets, including investment grade and high yield issuers. Leveraging your expertise in cash bonds and credit derivatives (CDS/CDX), you will help develop strategic allocation frameworks that balance risk and return across regions and sectors. You will work closely with research and trading teams to identify attractive opportunities and optimize exposures. Your responsibilities will include integrating macroeconomic insights, credit fundamentals, and relative value assessments into our portfolio construction models, while continuously monitoring and rebalancing positions to ensure alignment with investment objectives and risk guidelines.

Global Relative Value Analysis - You will play a pivotal role in identifying and capitalizing on market inefficiencies across regions, sectors, and instruments. Your responsibilities will include conducting comprehensive relative value assessments across investment grade and high yield, with a particular focus on cash bonds and credit derivatives such as CDS and CDX. You will leverage quantitative and qualitative research to compare credit spreads, issuer fundamentals, and market technicals, enabling the team to make informed investment decisions that maximize risk-adjusted returns. You will collaborate closely with senior portfolio managers, research analysts, and trading teams to evaluate opportunities and implement trades that exploit pricing dislocations and arbitrage potential. Your expertise will support the development of tactical strategies, including pair trades, curve positioning, and cross-market relative value trades. Additionally, you will be responsible for monitoring market developments, maintaining up-to-date relative value models, and preparing insightful reports for internal stakeholders.

Collaborative Engagement - You work collaboratively with other asset teams, communicate effectively internally and externally, and contribute to marketing and servicing efforts for both institutional and retail clients. You differentiate and monitor key drivers for outperformance in credit strategies.

Cross-Functional Collaboration and Relationship Building - You foster strong, collaborative relationships by working closely with various global dealers, sell-side research and syndicate teams across global regions. You interact and partner with CAM operations, product, and compliance teams to ensure seamless communication and alignment across all areas of the business.

Process Improvement and Operational Excellence - As a valued member of the business unit, you are empowered to recommend changes to business processes, driving enhancements in operational efficiency and effectiveness.

Who you are

You can demonstrate your experience. You bring at least three to five years of experience in research and financial analysis within global credit markets, and have demonstrated expertise working with cash bonds and credit derivatives, particularly CDS and CDX strategies. You apply a valuation-driven approach to risk assessment, balancing risk and reward in investment decisions. You are a thoughtful and articulate communicator, able to convey complex information with clarity and confidence to both internal and external stakeholders. You demonstrate advanced proficiency in financial modeling and spreadsheet analysis to support informed decision-making. Experience with Bloomberg and risk systems is considered a valuable asset.

You're digitally savvy. You seek out innovative solutions and embrace evolving technologies. You can easily adapt to new tools and trends. Active user of AI tools and Python knowledge is considered an asset.

You look beyond the moment. You know what you do will make a difference today and tomorrow. You look for new opportunities to define what's possible. You understand the long-term impact of your work and seek new opportunities to define what’s possible. You are an effective problem solver, leveraging strong analytical reasoning and quantitative skills to address complex challenges.

You have a degree in Finance, Economics, Math, Engineering, or a similar field.

You are a certified professional, holding or working towards a CFA designation.

Values matter to you. You bring your real self to work and you live our values - trust, teamwork, and accountability.

#LI-TA

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*, defined benefit pension plan*, an employee share purchase plan, 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 Mailbox.careers-carrieres@cibc.com

CIBC is committed to clarity in our hiring process. All roles posted are opportunities we’re actively recruiting for, unless stated otherwise.

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 test (such as simulation, coding, French proficiency).

We use artificial intelligence tools during the recruitment process. 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.

Job Location

Toronto-161 Bay St., 22nd

Employment Type

Regular

Weekly Hours

37.5

Skills

Corporate Bonds, Credit Markets, Financial Markets, Fixed Income Investments, Fixed Income Strategies, Investments, Leadership, People Management, Portfolio Management, Presentations, Researching, Results-Oriented, Risk Management