Risk Culture at CIBC Mellon: Governance, Confidence and Client Focus
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October 2020
Integrity, risk awareness and ethical conduct are key pillars of CIBC Mellon’s corporate culture. As an operational transaction-processing organization, we know that careful attention to organizational risk, governance, transparency, and personal accountability are critical to helping affirm to clients that we are upholding the trust placed in us. Clients take confidence from CIBC Mellon’s strong risk and internal control framework provides for independent identification, assessment, monitoring and reporting of risks on an enterprise wide basis.
Our commitment to upholding a strong risk management framework
CIBC Mellon plays a critical role in supporting clients, providing a solid infrastructure for Canada’s capital markets, and recognizing that its financial stability through market cycles is essential. To this end, CIBC Mellon is committed to maintaining a strong balance sheet that is highly liquid and characterized by superior asset quality. CIBC Mellon has a strong capital structure that can support its risk-taking activities and absorb potential losses. CIBC Mellon has a risk appetite statement that defines the level and type of risk it is willing to accept. The risk management framework is designed to ensure that the business remains aligned with its risk appetite statement.
Practicing a high degree of diligence throughout COVID-19
A significant contributor to CIBC Mellon’s ability to serve its clients successfully is the robust control and risk governance we have in place. As we face this unprecedented environment, our commitment to practicing proper governance and adhering to our controls have not changed.
For more information on CIBC Mellon’s business continuity planning and thought leadership regarding COVID-19, we are pleased to provide you with the following resources:
CIBC Mellon Statement on Preparations Regarding the 2019 Coronavirus (COVID-19)
Business Continuity Considerations: Pandemic Preparedness
Post-Pandemic Planning and Office Reoccupation Considerations
To learn more, contact your Relationship Executive, Service Director or Corporate Communications at corporate_communications@cibcmellon.com or call us at 416-643-5000.
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Contributors
Kelly Hastings
Chief Risk Officer, CIBC Mellon
Ben Kenton
Chief Internal Auditor, CIBC Mellon
Tania Narciso
Chief Compliance Officer, CIBC Mellon
Marian Aquilina
Vice President, Operational Control, CIBC Mellon
This article is provided for general information purposes only and CIBC Mellon and its affiliates make no representations or warranties as to its accuracy or completeness, nor do any of them take any responsibility for third parties to which reference may be made. This article should not be regarded as legal, accounting, investment, financial or other professional advice nor is it intended for such use.
About CIBC Mellon
CIBC Mellon is a Canadian company exclusively focused on the investment servicing needs of Canadian institutional investors and international institutional investors into Canada. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon (BNY) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon's investment servicing solutions for institutions and corporations are provided in close collaboration with our parent companies, and include custody, multicurrency accounting, fund administration, recordkeeping, pension services, exchange-traded fund services, securities lending services, foreign exchange processing and settlement, and treasury services.
As at September 30, 2024, CIBC Mellon had more than C$2.9 trillion of assets under administration on behalf of banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada. CIBC Mellon is part of the BNY network, which as at September 30, 2024 had US$52.1 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY trade-marks, and is the corporate brand of CIBC Mellon Trust Company.
For more information – including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada – visit www.cibcmellon.com