What CIBC does: CIBC offers adaptable commercial, wealth management, personal, international, and small business banking services
Mission: CIBC’s mission is to deliver daily, simplified, and dynamic modern banking experiences to clients.
Size and Presence: CIBC currently operates with around 45,000 employees spread across 1,1000 locations.
Best Known For: CIBC is popular for the personal and result-oriented nature of its banking and financial services.
The good bits: CIBC maintains a healthy work culture thanks to excellent management and a positive environment.
The not-so-good bits: Due to the large nature of their customer base, CIBC workers may have to handle heavy workloads, especially during the tax season.
Central Imperial Bank of Canada was formed following a merger between The Canadian Bank of Commerce and The Imperial Bank of Commerce in 1961. Both banks at the time were the largest in Canada. Following the merger, CIBC had over 1,200 Canadian branches.
In 1964, CIBC opened a floating branch with a passenger vessel - MV Jean Brilliant in Quebec. This floating branch served around 5,000 customers. Around 1967, the Yonge and Bloor branches of CIBC in Toronto were the first banks to use computers in updating customer bank books. Before the end of the 1960s, CIBC had introduced the first 24-hour ATM. CIBC commissioned its head office - a 57-story building completed in 1973. At the time, it was the largest stainless-steel-clad building worldwide.
In the 20th century, CIBC conducted a series of acquisitions and partnerships as they became a global financial force. CIBC has also positively diversified its investments to assets outside its primary strategy. In 2017, CIBC announced its plans to move its headquarters to the Bay Park Centre.
At CIBC, inclusion sits at the heart of everything they do. They work hard to deliver inclusive solutions, practice inclusive leadership, and manage talents inclusively.
Along with inclusiveness, CIBC promotes a supportive atmosphere where every voice is heard and employees reach their potential. CIBC strives for more and believes there is always room for growth.
The condition at CIBC is fantastic and while each working day presents a new set of challenges, employees receive the support they need to be the best each day.
CIBC looks to breed a culture of excellence with its recruitment Process. CIBC’s recruitment Process is inclusive, giving graduates and interns equal opportunities at employment.
Recruitment at CIBC involves the following processes;
Explore careers - CIBC offers many career choices on its website's career page. Each potential career path is clearly stated as graduates and interns get to understand the details of their potential roles
Complete your application - When graduates and interns identify roles they are best suited for, they are required to create an application profile. Creating an application profile helps graduates and interns get daily job alerts and requirements for each position
Interview Sessions - CIBC’s recruitment team constantly screens applications and invites suiting applicants for interviews with the company. Graduate and internship applicants undergo detailed interview sessions focused on their skill sets and cultural fit for the company
Make a decision - applicants that meet all requirements for roles are offered employment at the firm. Graduates and interns that accept offers at the firm are onboarded and given the support, they need to progress in their roles
CIBC’s hiring decision welcomes graduates and interns to a world of growth and career development. They offer employees a route to strategic career growth and give them a way to make the best of themselves.
A position at CIBC is a chance for graduates and interns to learn, grow, and jump-start their careers. CIBC interns and graduates learn every day by being mentored by industry-leading professionals. They also offer them opportunities to collaborate on exciting projects each day. Interns enjoy different career pathways to help employees navigate their careers beyond graduation.
While everything changes at CIBC, one constant thing is growth and employees are guaranteed a future of growth at the company.
Financial service representatives at CIBC earn around CA$47,545 per year while Financial advisors earn CA$68,184 per year.
Business analysts at the firm are paid CA$66,341 per year while Analysts earn around CA$67,854 annually.
CIBC Associates earn around CA$89,643 per year and Senior Analysts are paid CA$78,733 per year.
Interns at CIBC are paid around CA$40,000 to CA$46,439 per year.
CIBC’s repertoire rests on making life easy for the people. They invest in making a community impact through the CIBC foundation. The CIBC foundation makes substantial investments in supporting cancer initiatives, investing in financial education, and creating equal opportunity for all. CIBC also offers donation and sponsorship funding to different communities and social initiatives.
As part of a gambling-related conspiracy in the 1970s, an employee at CIBC was accused of embezzling several million in CIBC funds.
In 2007, Dara Fresco, a Toronto teller, along with current and former non-management, non-unionized employees filed a $600 million lawsuit against CIBC for failure to pay overtime.