Recognized as one of Canada's Top 100 Employers
By Richard Yerema and Kristina Leung, Mediacorp Canada Inc. staff editors (Nov 6, 2017)
Here are some of the reasons why CIBC was selected as one of Canada's Top 100 Employers (2018), Top Employers for Canadians Over 40 (2018) and Greater Toronto's Top Employers (2018) :
- Along with helping employees save for the future, CIBC provides retirement planning assistance and phased-in work options for those nearing retirement -- and maintains a Retiree Advisory Committee, which aims to represent retirees' views on issues affecting them, and provide input on policy review and development
- Through the Flexibility@CIBC and CIBC@Work programs, the bank offers options designed to provide employees a choice in when and how they work through the integration of space, technology and work arrangements
- A recognized community leader, CIBC and its employees contributed over $65 million to charitable and community causes across Canada last year -- and, as part of its matching donations program, the bank encourages employees and retirees to volunteer for initiatives that are important to them through the Employee Volunteer Grants program
CIBC employees bank on innovation to serve clients
Before Emily Kok joined CIBC in June 2013, she had never considered working for a financial services institution. Kok was working in digital marketing for a well-known Canadian retailer when a former classmate from the Business Administration program at Wilfrid Laurier University got in touch. CIBC is a great place to work, he told her, and his employer had an opening she should consider.
Curiosity gave way to enthusiasm as Kok interviewed for a consultant position on the CIBC Digital Strategy team. She got the job and has never looked back, thanks to CIBC's commitment to being the bank of the future.
The CIBC Digital Strategy team looks to create engaging client experiences by enhancing CIBC's digital platforms.
"It's a continuous cycle," says Kok, now a Senior Manager. "We try to make ongoing improvements to our digital features and capabilities based on feedback from our clients."
CIBC was the first Canadian financial institution to make the three leading mobile wallets -- Apple Pay, Android Pay and Samsung Pay -- available to its clients. It's also moving beyond transactions, helping mobile banking clients get a clear picture of their overall finances with new features like a Free Credit Scores service and Travel Tools, an in-app feature for calculating how much a CIBC Visa card purchase will cost in Canadian dollars when travelling abroad.
The bank has earned numerous kudos and awards for its digital innovations. "The purpose of technological inventiveness is to make clients' everyday lives a little easier,"
says Veni Iozzo, Executive Vice President, Communications and Public Affairs. "We encourage client-first thinking in everything we do. And we embrace innovation to meet the evolving needs of our clients and give them options to bank where, when and how they want."
Iozzo knows all about innovation. She's held a variety of roles within CIBC and spearheaded numerous game-changing initiatives, from introducing new financial products and services that impacted the entire industry to developing campaigns to deepen client relationships.
Her latest venture is leading the team responsible for the evolution of CIBC's workplace strategy, including the move to the bank's new global headquarters, CIBC Square. In June, CIBC broke ground in downtown Toronto for a new state-of-the-art urban campus where some 15,000 CIBC employees will work. "This is a multi-year, enterprise-wide transformative project that will create a truly modern work environment to enhance collaboration and innovation for our clients," says Iozzo.
Her track record illustrates the career within a career that's possible at CIBC -- and others are following in her footsteps. In May, Kok was the first employee to take part in an exchange program with National Australia Bank, one of a number of strategic partnerships CIBC has formed. Kok spent four weeks with NAB in Melbourne, working with their digital team and identifying opportunities for future collaboration.
Kok took on another big task in 2017, organizing CIBC's first all-women hackathon, where teams collaborated and produced ideas to address the unique financial planning needs of their female clients. Hackathons typically attract more men than women, but the XX Design Challenge saw more than 500 women apply for 150 openings.
Says Kok, "It's just another way that CIBC is providing amazing opportunities for all of their employees."
Recognized as one of Canada's Top Employers for Young People
By Kristina Leung and Richard Yerema, Mediacorp Canada Inc. staff editors (Feb 8, 2018)
Here are some of the reasons why CIBC was selected as one of Canada's Top Employers for Young People (2018):
- CIBC is a founding partner of NPower Canada, which helps young adults pursue careers in technology -- NPower focuses on supporting students who have household incomes well below the poverty line, are precariously housed, are visible minorities or have multiple barriers to accessing meaningful employment, and offers an extensive 5- to 6-month program that includes classroom work, professional mentoring, and internship and job placement support
- CIBC offers a number of rotational career programs in a variety of areas, including a Risk Management Development Program, a Commercial Banking Associate Program, a Human Resources Development Program and a Graduates Matter Rotation Program for students in their final year of study for an MBA or related program
- The bank hosts "Think Tanks" and "Thought Forums" to provide new talent with unique ways of demonstrating their skills -- Thought Forum participants are given a case study and work in groups to showcase creativity, critical thinking and collaboration
CIBC invests in a tech-savvy future
Andjela Jamina had an interesting problem. She had just graduated from the University of Waterloo with a degree in a branch of mathematics that could lead to employment in fields as specialized as computational modeling and financial analysis, but she was reluctant to focus on just one path. Then CIBC entered the equation, opening up career opportunities wider than she ever thought possible.
"I really enjoy programming, but I didn't want to sit behind a computer screen all day," says Jamina, one of the Data Scientists at the new CIBC Data Studio in uptown Waterloo. "I like product management as well, and I also wanted experience in the financial world. That's asking a lot for a career path. I feel really lucky to have a job where I can do all that while also being part of an established organization where I am challenged and learn new things every day."
The CIBC Data Studio is located within the Communitech Data Hub, an innovation centre that supports and connects tech companies at all stages of growth working to revolutionize data usage. This location will help the bank tap into the thriving startup environment.
"We're excited to be part of the action," says Santanu Pal, Vice President, Enterprise Advanced Analytics, CIBC. "We're investigating and developing new ways that CIBC can use data to its full potential so that we can deliver leading insight, advice and solutions for our clients."
Another important goal for the Data Studio is to recruit local talent by attracting individuals working at the forefront of the newest technologies and developments. The Data Studio's team works with co-op students from nearby universities who have backgrounds in engineering, math and computer science.
The bank has a similar collaborative space, CIBC Live Labs, in the MaRS Discovery District in Toronto. Live Labs and the CIBC Data Studio are part of CIBC's broader effort to enhance the client experience across all of CIBC's award-winning digital platforms.
While the Waterloo team focuses on data, Pal says it is all in service of CIBC's culture that puts clients first. When the data scientists tackle a problem, they personalize the project by imagining how a particular client could benefit from their findings, he explains. Their focus is to continue giving CIBC clients options to bank where, when and how they want.
CIBC recently celebrated its 150th birthday and continues to build on its history of client-focus. The bank's new global headquarters -- CIBC Square -- currently under construction in downtown Toronto will be a state-of-the art urban campus for nearly 15,000 CIBC employees.
These developments all spring from CIBC's commitment to being the bank of the future. Pal cites the rapid transformation that has taken place from the time when data was viewed as a back-office function, to today where CIBC uses its innovative digital and data-driven division as a key advantage in serving clients and keeping ahead of the competition.
"CIBC has always taken an entrepreneurial approach," Pal adds. "And with digital and data moving so quickly, we have to be more agile than ever to keep pace with our clients' changing needs."
It's this focus on what lies ahead that Jamina finds so appealing about a line of work that until recently she didn't even know existed. "CIBC sold me on the idea that what we think of as banking today will be a totally different experience tomorrow and that I could be a part of taking banking to a new level for our clients."
Recognized as one of Canada's Best Diversity Employers
By Kristina Leung and Richard Yerema, Mediacorp Canada Inc. staff editors (Mar 1, 2018)
Here are some of the reasons why CIBC was selected as one of Canada's Best Diversity Employers (2018):
- CIBC created action plans to improve the gender balance of women in leadership roles and manages a dedicated Women's Network with over 3,000 members spanning chapters across Canada, the United States and the United Kingdom -- the network delivers a variety of professional programming such as speed networking luncheons, career panels, speaker series, and peer mentoring circles
- In 2015, CIBC announced a pilot partnership with Specialisterne Canada, an organization dedicated to helping individuals on the autism spectrum find meaningful employment -- to date, CIBC has hired 19 individuals through this partnership and has publicly committed to hiring 500 new team members with disabilities
- Working with the bank's Indigenous Employee Circle, CIBC created a Pathfinder program to offer peer support for new Indigenous employees -- and manages the Dream Makers program to provide Indigenous scholarship recipients with summer employment (for select students)
CIBC takes a thoughtful approach to inclusion
At CIBC, investing in the future can sometimes be kids' play. In August 2017, CIBC's Live Labs and Digital Strategy teams welcomed 30 girls aged seven to nine for a session of Girls Learning Code, part of Canada Learning Code. CIBC challenged the girls to design a marketing campaign for a brand and devise ways to connect consumers to the business.
The result? "It was so much fun!" says Ricky Chandarana, Director Digital Strategies. "Our teams got the girls' creativity flowing and we learned a lot from them as well."
Live Labs and the Digital Strategy team are part of CIBC's broader effort to enhance the client experience across all of its award-winning digital platforms. And like Canada Learning Code, a not-for-profit champion of coding and other digital skills, CIBC seeks to increase diversity in tech-focused disciplines.
Forming partnerships is, in turn, just one way CIBC demonstrates their commitment to inclusion and diversity at all levels of the organization. The Board of Directors recently endorsed a three-year strategy emphasizing the importance of inclusive leadership. The strategy is supported by the bank's Inclusion and Diversity Leadership Council, which is chaired by a member of the Executive Committee, and supported by a dedicated Inclusion and Diversity Team, as well as senior leaders across the bank.
Amy South, Senior Vice President and Head of Investor Relations, is one of the executive sponsors. She says that while the bank determines the overall vision and goals, different business areas face different challenges in achieving them. With input from a variety of employee volunteers and People Networks, each area develops a viable inclusion plan for its operations.
"Some remedies are more or less obvious than others," South adds. "But whether we're setting specific, measurable goals or creating a respectful and welcoming workplace, we know that diverse teams working in an inclusive environment are more innovative and make decisions that better serve the changing needs of our clients."
One area CIBC continues to improve upon is the numbers of women in senior management. With its expertise in data analytics, CIBC scrutinized its employment metrics and learned that, although women were well represented in general, their numbers dropped in some areas of middle management. South says further research has helped to identify opportunities for better gender balance across the bank.
"This is not a women's issue," says South, "this is everybody's issue." That is one of the reasons CIBC partners with non-profit Catalyst to offer its Men Advocating for Real Change (MARC) leadership training program to the bank's senior executives. Among MARC's key lessons for creating a more inclusive workplace are developing awareness and stopping practices that inhibit inclusion.
In a further step towards more inclusive leadership, CIBC board members, the global leadership team, and more than 500 senior leaders across the bank have participated in training to help disrupt unconscious bias. As a result, participants are now equipped with the knowledge and skills to help identify, challenge and adjust the behaviours that result from unintentional bias
Both initiatives, and the plans to cascade them more broadly across the bank, are aimed at furthering a culture that celebrates uniqueness and promotes belonging, says South. And even though effecting sustainable, long-term change takes time, she says people are already being more mindful of their language and personal interactions.
Chandarana, who joined CIBC two years ago, says he too, is seeing improvements in what was already a good environment. The Digital team, for instance, is testing whether blind résumés, where names aren't visible, can help remove bias from the hiring process.
"I'm very proud to be part of an organization that's so dedicated to making a difference," says Chandarana, who, like CIBC, takes the long view. "Being the dad of an infant daughter, I really look forward to opening all the doors I can for her."