CIBC

618 reviews

CIBC Employee Reviews

  • Job Work/Life Balance
  • Salary/Benefits
  • Job Security/Advancement
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Job Work/Life Balance
Salary/Benefits
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Amazing Employees and Phenomenal Job Culture
Level 4 Administrative Assistant (Former Employee), Toronto, OntarioFebruary 2, 2015
Pros: amazing people, ample opportunity for advancement
Cons: training lacks consistency and direction, transperancy is valued but not exhibited, lacks job security.
While working at CIBC, I had the privilege of meeting some very intelligent and inspiring individuals. A typical day at work would begin with calendar management, to ensure my two Senior Directors were aware of the days events, and so that appropriate time management could take place throughout the day.
My typical day would also consist of an array of requests ranging from onboarding a new employee, completing expense reports, arranging off-site meetings, providing security & print cards, or just ensuring all team members have appropriate tools and supplies available to them at all times.
My team was estimated to be approximately 145 people in total, and residing at locations ranging from Downtown Toronto, Mississauga, North York, and India.
I was an active member of many committees including the Health and Safety, Employee Appreciation, and the Diversity Day Committee. I also was nominated to be the Female Searcher for the Fire Committee as well.
While at CIBC, I had the opportunity to learn many things from the Managers that I had the pleasure of supporting. They have taught me many aspects of the financial industry that will benefit me in my future endeavours, as well as providing me with ample opportunities to increase my level of knowledge within a Corporate Environment.
The hardest part of the job was having to say no to a team member when priorities needed to handled for a Director's request. However, I had an incredibly supportive team and was able to help as soon as the action item had been handled.
I truly enjoy assisting people as well as watching them grow and prosper – more... within a team environment. This position allowed me to do that.
But, I must say that the most enjoyable part of my position was being able to remain true to myself and bring a little enthusiasm and charity into the team. I would initiate themed team meetings and refreshments, random activities to build team spirit and, organize functions such as a indoor mini-putt Tournament to raise money for Charity.
Overall, it was a very pleasurable experience and I would like to thank my team for the opportunity of working with such phenomenal and amazing individuals! – less
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Achieving dream one step at a time
Senior Financial Analyst (Current Employee), Toronto, ONJune 13, 2015
Before I joined my current company, I was working for a small firm on Front west street. I told myself that one day I will work for large corporation and move to Bay street. Now I'm working right on Bay and realized that as long as I set an achievable goal and work hard toward my dream, it's possible to make it happen.

For the past three years, I was focusing to get my designation done therefore I wasn't looking for any jobs. Now I'm fully ready to advance myself and develop my career to the next level.

My current work environment is very relaxing and it's a good stepping stone for a young individual to start off his or her career. However I'm looking for more exposures and challenges and current position will not bring me more after 4 years of working.

From my current role I have learnt so much about capital markets and investment banking. The benefit of working in a small team is that I get to learn different aspects from my co-workers when business is getting busier and when I provide coverage during their absence. I enjoy contacting different groups of people including internal and external and problem solving on time.

Multi-tasking and time management allow me to solve issues and works efficiently and effectively.

After our restructure, I'm no longer doing reporting therefore I have decided to move on for opportunity that allows me to do more reporting, analysis to balance with accounting functions.
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Productive, fast-paced environment and working with great people.
Coordinator - Business Management (Former Employee), Montreal, QuebecMarch 6, 2015
Pros: freedom and trust from management and employees to get things done well and on time
Cons: lack of support and feedback from managing director
A typical day at work consisted of human resources duties, assisting Portfolio Mangers in the preparation of complex reporting, assisting the Client Servicing department as well as Compliance in organizing all legal documents, aiding all employees with any and all administrative/human resources issues.

I learned to organize efficiently, work with complex calculations and reporting, manage soft dollars and work closely with all heads of departments on tasks specific to their daily work reality.

The majority of my co-workers were fun to work with and we developed a great working relationship. According the them (because I asked), I am a problem solver and am always willing to help and work with them on all issues. If I did not know the answer to a question, I would get informed on the subject and get back to them.

The hardest part of my job was making sure all employees were onboard with management decisions and performing yearly tasks in the time allotted to them.

The most enjoyable part of my job was helping employees in tasks involving human resources. I also really enjoyed working with different softwares and running complex reports.
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Okay Employer
Customer Service Representative (Former Employee), Vancouver, BCJune 29, 2015
Pros: great training, great benefit options, great stock share plan options, great people working in and around you everywhere, prepares you with an unmatched skill-set in customer-service, interpersonal skills, communication, multi-tasking, prioritizing, performance goals
Cons: lack of sufficient parking, unenjoyable commute if you dont live nearby, unethical and quetionable business practices you have to defend or you are penalized, self-serving upper management at head office, knowing you are working for the bad guy instead of the good guy
The previous CEO McCaughy had mass layoffs so he could get a ten million dollar bonus and short-term pseudo-gains to report to shareholders, so job security is an illusion here for sure, but during my time there the training was effective, and transferable to any job. The Team Managers were amazing people, the workers were great too, the customers were usually pretty awesome too, the major problems usually came up when the higher ups made bad decisions and forced their own profiteering agendas onto customers and workers, and used deception and fine-print methods to snake their way by to their benefit and the detriment to employees and their customers on the front lines.Ethically, those in charge make the decision to work for this employer a moral one.
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Productive and result-oriented workplace.
Mortgage Records Processing Clerk (Current Employee), Toronto, ONNovember 26, 2013
Pros: growth opportunity, appreciation days, fun days eg, office olympics, amazing race
Cons: no benefits.
Working at CIBC has taught me a lot about the Canadian workforce. I learnt the core values, the vision and missions of CIBC, I got trained on these and proper tarining on my role as well.
The management at CIBC is always supportive of helping me grow my career and explore new opportunities.
My co-workers exercise team work, accountability as well as trust. I am confident that, would I be not able to make it to work on any day, they not only cover for me, but they also update me of how the day went. Whenever I face anything that is hard, I always have someone to go to to ask for help and I always get it.
What I enjoy most about my job is that I could never be bored because there is availability of learning new skills and different duty roles because of the cross-training and coaching program. I also get the opportunity to develop my own personal skills through the Individual Development Plan program, which is really useful and gives me a chance to grow myself, meeting my job requirements at the same time. CIBC also allows me to come up with ways that I feel will make my wok more easier and desirable through Continuous Improvement ideas submitted to management.
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Good working environment
Investment Representative (Licensed) (Former Employee), Toronto, ONApril 13, 2015
Pros: Clients are mostly knowledgeable about the product/services.
Cons: The constant changes and demands
Accept and process trading and non trading orders as per client's request.Investigate and resolve inquiries and complaints related to accounts.
Ability to prioritize daily tasks,multi-task, and deal with a variety of personalities ( internal & external ) and capable of quickly shift priorities and deliver results.

Communicate Effectively: Speak, listen and write in a clear, thorough and timely manner using appropriate and effective communication tools and techniques.Work cooperatively and effectively with others to set goals, resolve problem, and make decisions that enhance organizational effectiveness.

Implement initiatives focused on building more profitable client relationships, by providing exceptional customer service to meet client’s needs. Identify opportunities to grow the business through strong sales focus and/or streamlining processes to reduce expenses

Focused concentration while reviewing different system platforms and listening intently to identify opportunities or decipher information in order to provide the best client service experience effective and efficiently.
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Excellent banking experience horrendous work/life balance
Advisory Application Developer (Current Employee), Toronto, ONApril 1, 2014
Pros: financial experience, benefits, training
Cons: work/life balance, long hours, inexperienced management, no career advacement
CIBC or at least my unit tends to hire people without banking or capital markets experience which is a huge thing for somebody who wants to get into this field and does not have prior experience, you can learn a lot and they give you lots information about it if you are interested. Co-workers are nice and they like to help each other and they do not judge if you make a mistake. Also I have learned a lot about the process in the organization.

Work/Life balance is horrendous.I have never been worked like that in my whole 10 year career in the field. We had to work full 2 days on the weekends throughout the whole month of January to meet a deadline because management botched the planning and started preaching that we are all going to "fail" if we do not deliver. I even got sick of too much stress and added strain to my personal life. At the end management got their promotions as we were able to deliver after all and the regular developers got nothing, I was told that we should be happy to have a job by the now former manager promoted to be a director.

Get your banking experience and move on...
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Fraud Response Officer
Fraud Response Officer (Former Employee), Toronto, ONOctober 4, 2013
Resolved cardholder inquiries about loss card, fraud and disputed transactions by using extensive analytic ability and detection software,.and interpreted company’s policies to customers.
Generated lost reports and documented fraud transactions confirmed by the customer.
Cancelled and blocked customer’s accounts, issued new card number, and opened fraud claim reports.
Collaborated with branches, Visa international, Visa merchant services, Moneris solution merchant services, casino, loss and fraud department of other financial and non-financial instituted to solve reported loss and fraud transactions.
Analyzed data to identify recurring fraud problems trends and formulated fraud reports to management with recommendation to improve early fraud detection.
Investigated reported fraud and non-possession situations referred by internal and external sources, including conducting risk analysis over the reported fraud situations.
Coordinated with other departments to enhance the security of transaction systems, including participating in loss & fraud project implementation, monitoring progress and compiling updated reports.
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Problematic stats
Credit Services Specialist (Former Employee), Toronto, ONJune 3, 2015
Pros: Good wage, pleasant workplace
Cons: Completely insane support and sales expectations
While CIBC is a good company to work for in general, its sales targets are abusive of both their customers and their support representatives, to the extent that you are effectively required to offer people who can barely speak any English or who are in a bad mood or even while their in-line being served and their card is just getting declined for something while they try to get on with their day, all of which they advise against in their respectful selling documents. There are a number of structural issues as well with their service support documents, a number of holes and/or outdated information throughout the support documents that make some call types effectively impossible to complete without manager authorization, leading to up to 1hr hold times for managers, usually averaging 20 minutes on a regular basis. And my direct manager also had no training or practical experience with our position, just with sales. However, this was only on the credit card customer support side of things; there might be other departments that aren't so bad.
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Pretty Bad Experience
Customer Service Representative (Former Employee), montrealOctober 7, 2015
Pros: You wear a suit
Cons: Long standing hours, force you to sell or you're out, outdates programs and computers
In my time at CIBC, I was promised a lot of advancement and that their employees were very well taken care of. They set unreasonably high targets for sales that I had to push onto POOR people. Imagine having to shove a credit card down the throat of an elderly gentleman who is already 20k in debt. Because I had no heart for that offer, the system that carefully tracks your referrals has flagged me. Believe me when I tell you that working at a bank only looks fancy because you're in a suit...

They try to hype up their employees just to get them motivated to sell, sell, sell. They don't really care. Oh and a 5 cent increase per year to your salary?!

Also, try balancing a huge amount of cash. If you don't balance by more than 5$, chances are you're staying, even if its 2 hours UNPAID. This happens very often.

Lastly, they train you online, by showing some sketchy videos and multiple choice answers. When the real deal comes and you aren't aware of certain procedures because you WERE NOT trained for them, they fire you. FOR SIMPLE SMALL MISTAKES.
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Unrealistic sales targets, impossible to meet.
Personal Banking Representative (Former Employee), Alliston, ONJanuary 21, 2014
Pros: no pros
Cons: managers see numbers, not people.
Bonuses given only if you excel in THREE areas (spread yourself thin!). Expected to sell during my training period, without knowing what I was selling or how to enter accounts! Was left alone in a PCF banking pavilion for 16 days last December as a new employee just out of training (some shifts were 10 hours)! I excelled over 1,000% in a number of areas during my six weeks out of training, but was let go as my no-fee-bank--account sales placed me only mid-pack of my peers! VERY low pay for a lot of responsibility and accountability. HALF as much as I used to get selling furniture and appliances!! After being hired I didn't start for two MONTHS, then the hours were extended to 8 pm, I had to train in another city half the time, the sales targets were changed and I started with someone new as a boss. My ID didn't work for the first two weeks and I was criticized for not opening accounts. I have over 30 years in sales and was treated like I had just crawled out from under a rock. This position is for the young at heart who don't know good management if they've never had it.
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Financial services Rep
Financial services Representive (Former Employee), TORONTOSeptember 28, 2014
Pros: low lending rates for employees
Cons: low pay ..lobbying ..many more
I am associated with CIBC since last year. This is the worst work experience of my life. The bank and its policies are really good, but the management and senior level officers are totally biased and cruel. They say do best for client, but in reality they are haunting yu to make 6-8 sales from one meeting. No balance of personal and work life. You are expected to work in your lunch time and even when branch is closed. I am very dissappointed not from them but my self that i spend all these month following this horrible culture in hope that later on everything will be settled. This bank is good for retired and old age people not for young people as all senior managers are old and near to retirement..they expect more work from new FSRs and irrespective of the fact how low is the pay scale. Its all about review , meetings , sales and outbound calls, sometines you feel that you are working in call centre. I dont want to be offensive and that just my view. Bank is great... managers are not even humans.
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no room for advancement; too much pressure put on customer serice/tellers
Customer Service Representative/Head Teller (Former Employee), Paris, ONDecember 8, 2012
Pros: health benefits
Cons: extended hours; selling products that we are not fully trained on or compensated for
As a teller, our job is to service the client with their every day banking needs. The company requires the tellers to act as sales people to inform the client of new banking promotions, credit cards, lines of credits, etc. Yet, we are penalized if we do not get referrals over to the Personal Bankers. We are also not compensated for the referrals that actually sign up with a product. I believe this is a waste of the teller's time, and it holds up the line for the other customers waiting to get their banking done. There should be a designated person to do the referrals and answer questions, and it shouldn't be the responsibility of the teller. I feel the rate of pay was poor for all of the extra things they wanted the tellers to do; I also feel it is extremely difficult to move up in CIBC from a teller level, as they post jobs on their site, but hire within the branch.
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Quality Control Administrator
Central Control Unit Administrator (Current Employee), London, ONJanuary 1, 2015
Pros: benefits, vacation structure
Cons: parking rates high, work/home balance difficult
Deadline driven team! High risk functions run through our team. Definitely a team environment but need to be able to work on your own. A support team to other departments in our company. Rely heavily on several departments within the Company, as well as, outside vendor's in order to be able to complete our daily tasks. Fast pace, ever changing environment. High work volumes. Client service orientated.

Many levels of Team Leaders, Supervisors and Management structure. Report directly to Team Leader/Supervisors. Many high level decisions must be approved by Management.

Hardest part of the job is not having the appropriate tools/applications function/updated properly in order to do our job effectively and in a timely fashion. Hopefully resolved sooner, rather than later.

I like the training aspect, always learning and developing current and new skills, customer service, and being busy all the time.
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Amazing people, lack luster management
Customer Service Representative (Former Employee), Toronto, ONOctober 22, 2012
Pros: meet new people everyday
Cons: too much micro-managing, little career advancement
Meet amazing people each day and if you're lucky enough you'll have some fantastic coworkers as well.

CIBC is a company that markets themselves on encouraging their employees in advancement. The reality of it however is advancement is very little and difficult to obtain. Promotions go to the "favorites" who are often not very qualified.

No matter how well you are doing, the company will continue to discourage you in saying how poorly you are performing. They will break your morale and demotivate you unless you bring in a miracle 1 million in sales a year.

Many managers I encountered are unskilled in their profession, they may be talented In sales but then completely oblivious in operations. Causing many problems when you have an issue which needs to be resolved and your own manager has no means to assist you.

People applying for CIBC, please be weary. At this corporation you ARE just a number.
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I love the interaction between myself,my co-workers and the customers
Financial Service Representative (Current Employee), Toronto, ONAugust 16, 2015
Pros: Good benefits and bonue
Cons: changing shifts
A typical day involves me taking 60-70 phone calls which includes a wide range of issues, such as technical, financial and also emotional. I learn daily about the different lifestyles that we lead and how financial goals and aspiration differs and how individual gets to those goals are quite unique.
The management style is a open concept which i love, everyone is accessible.
My co-workers share a unique bond because they can relate to the daily struggles.
The hardest part of my job is not being able to help someone especially a senior when they desperately need some financial help/guidance.
The most enjoyable part of my job is helping someone who may be drowning in debt and are financial illiterate and may feel hopeless, but after i guide them and help them consolidate thus freeing up some much need collateral, which in term changed their entire life. That is the most rewarding aspect of my job..
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Excellent Experience
Financial Service Representative II (Former Employee), Milton, ONJuly 5, 2012
Pros: staff, positively changing peoples financial future
Cons: lack of coaching, limited focus on personal development, life/ work balance
I started my shift 1.5 hour before the branch doors opened. First, I followed - up on existing deals in the system, prepare for meeting during the day, and attended morning huddles/ meetings
During the day, I made calls to new and existing clients, had scheduled appointment, handled 'walk in' in clients, assisted front line staff, and attend the occasional day time meeting. When the branch closed, I entered lending deals, forward documents, updated required system notes. What I learned was you need to understand whats important to your client, define value, create a plan and set realistic/ achievable goals. My days would be 10 to 12 hours long. I would come in on my weekends to complete online training. I worked with the most experienced team within Milton. We all supported each other. The hardest part of the job was getting my own clients from a low traffic branch.
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Worst place to be if you are a contract employee
Retail Accounts Processing Officer (Former Employee), Scarborough, ONJuly 16, 2014
Cons: having to report every single detail to management ie. what question that person just asked me
The co-workers were great to work with, but that was as good as it got. Being a contract worker through Manpower, we were treated as disposable people who were paid to produce work and do nothing else. Management would prevent contractors from communicating with anybody and restricted flexibility with breaks and workloads. Contractors were used and abused, then discarded when no longer needed. we would constantly be forced to work extra time and were not able to track the extra time, or if we did work overtime hours, we would be told to leave early the next day to balance out the difference. if you ran into commuting issues which caused lateness it would be a problem, even if just 2-3 minutes late, yet would try to force you to take on extra work at the end of your shift after you've already signed off and not get paid for any extra time (15-20 mins extra time).
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Unethical and frankly evil
Financial Services Representative (Former Employee), Lethbridge, ABMay 1, 2014
Pros: it is usually quiet when they make you work 10 hour shifts
Cons: everything else, from the low pay to managers sitting behind you watching you work, they even took the doors off of the offices so they could monitor us better.
Ironically I was fired from CIBC just hours ago, because I had an elderly client (71 year old female on pension) coming in because she wanted to know how GICs worked. I was told that I wasn't doing my job correctly if I got less than 10 products from her, whether she needed them or not. When I asked "but what if she doesn't need a credit card, or a secured line of credit" they told me "to make her need it" and that if she doesn't want it to educate her on title fraud and make her fear what could happen if she didn't have a claim on her house. I was deeply sickened by they're responses and when I said no I'm not going to do that to a senior, they said "then you are terminated effective immediately clear out your desk and leave". I've never been so ashamed of a company in my life.
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High paced financial institution with emphasis on speed and accuracy
Customers Service representative (Former Employee), Toronto, ONJanuary 8, 2015
Pros: great locations, great management co-workers constant chance to grow and learn, great client case
Cons: varying hrs, constant new information, low salary for amount of work/level of accuracy required
 Processing transactions such as deposits, withdrawals, bill payments, certifying checks, processing money orders and drafts, and international wire transfers
 Cash handling and balancing thousands of dollars a day
 Observing opportunities to better serve clients such as suggesting new investments opportunities or ways to better balance portfolios increasing client loyalty and satisfaction
 Receiving daily product and regulatory updates to better serve and inform clients
 Insuring the authenticity of documents and cash deposits through internal procedures.
 Verifying clients identities through id signatures and proper questions to protect both Cibc and their client assets from fraud
Claimed Profile
Headquarters
Toronto, ON, CA
Revenue
more than $10bn (CAD)
Employees
10,000+
Industry
Links
CIBC website