|Location||Houston, United States|
|Date Posted||February 14, 2018|
BUSINESS UNIT DESCRIPTION
Risk Management is led by Senior Executive Vice-President and Chief Risk Officer and is accountable on matters relating to the independent oversight of the management of risks inherent to CIBC’s activities. These risks include but are not limited to ensuring that effective processes are in place for the identification, management, measurement, monitoring and control of operational, compliance, reputation and legal, strategic, market, credit, investment and liquidity risk, collectively “CIBC Risk”, incurred by CIBC’s retail and corporate banking businesses, infrastructure and corporate governance groups.
The Petroleum Engineer reports to the SVP & CRO, U.S. Region and is accountable for ensuring sound petroleum engineering governance within the U.S. Region. The Petroleum Engineer assesses third party reserve reports, lease operating statements and other data to determine the collateral value supporting reserve based loans (RBLs).
The Petroleum Engineer’s analysis is used to i) determine the underlying collateral value and advance rate underpinning the loan – and whether such advance rate is consistent with CIBC’s risk appetite, ii) determine the loss given default rating, iii) assess the cash flow repayment profile of the borrower and iv) establish whether loans should be criticized or classified.
The Petroleum Engineer’s analysis is completed prior to our commitment and on an ongoing basis (generally semi-annually at borrowing base redeterminations). The analysis is further assessed by credit risk management adjudicators. The Petroleum Engineer is independent from the business and his or her compensation is not driven by deal volumes or marketing, but rather, by completing independent evaluations of the commercial and technical attributes of client oil & gas operations to develop risk-adjusted collateral values for reserve based lending purposes.
Prepare oil and gas engineering evaluations for existing Corporate Banking oil & gas customers and prospective new clients in the U.S. These evaluations will include a detailed Engineering Memo with requisite tables and spreadsheets to document the evaluation, supporting technical background and narrative, a cash flow forecast, NPV and loan value calculations. Generally, the evaluation will include downside risk assessment, analysis of upside potential and explanation around the changes from the prior collateral evaluation. These reports will be prepared in accordance with CIBC’s policies and approved oil & gas price forecast.
Provide background technical information on prospects and clients to help in the credit approval process.
Provide input into the Petroleum Engineering Department U.S. Engineering Reserve Based Lending Procedure Manual as well as the U.S. Credit Standards & Guidelines – Oil & Gas and liaise with the Executive Director, Head - Petroleum Engineering so that there is bank wide consistency as much as possible.
Provide technical information and general color around projects and companies to Credit Risk Management adjudicators to help with their risk analysis.
Attend Banking and Engineering technical presentations that are prepared by the borrower, which may require travel.
Engage oil and gas producers in meaningful technical discussions to better understand their production profile, the upside potential, as well as downside risks. Establish relationships with the engineers and geologists of clients and industry peers.
Be conversant with or able to quickly adapt to Aries and/or PHDW in databases and software, production history retrieval software as well as CIBC’s internal engineering evaluation model.
Corporate Banking - Houston
Risk Management executives and senior management
Petroleum Engineering Department - Calgary
CIBC infrastructure groups as required
Third party engineers and geologists
As an employee of CIBC, the Petroleum Engineer must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls.
The job will have accountability for U.S. based oil & gas RBLs.
KNOWLEDGE AND SKILLS
Proficient petroleum engineering skill set with the ability to analyze complex concepts quickly and thoroughly
Extensive knowledge of oil & gas evaluation techniques in the U.S. and familiarity with production and reserves in the major U.S. producing regions
In-depth understanding of applicable financial products relating to the oil & gas space
Detailed working knowledge of CIBC operations and practices sufficient to apply, adapt and modify practices and processes in response to change
Working knowledge of the external regulatory environment impacting the oil & gas sector
Strong understanding of macroeconomic events and trends
Advanced presentation/interactive skills to clearly articulate complex conceptual information/ideas
Excellent writing skills sufficient to prepare interpretative, analytical and creative materials
Demonstration of integrity
Creativity and innovation to address issues where very little precedence exists
Bachelor of Science in Engineering
Specific attributes includes:
Forward & Strategic Thinking
This role operates within a normal office environment with little exposure to adverse working conditions.
Travel to Dallas, Denver, New York and other US cities will be required