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At CIBC, our diverse teams create extraordinary client experiences. Working in inclusive, innovative environments offers opportunities to contribute, drive and deliver solutions for all the clients and communities we serve.
Our bank has become the first Canadian bank to sign HM Treasuryís Women in Finance Charter, signaling our pledge for better gender balance across financial services firms in the United Kingdom.
Board Representation:Made up of 35% women, CIBCís mission of broader board representation has exceeded our goal of reaching at least 30% women by November 2017.
Global Leadership Representation:By November 2018, CIBC has a goal to reach 30 to 35% women in its global, boarded, executive roles. Currently, women hold 29% of these roles, and 27% of our Executive Committee members are women. We are close to reaching our goal.
Diversity is essential in all hiring decisions and in developing incredible leaders. Hereís how CIBC has increased its commitment to diversity and inclusion in the workplace.
Diversity plays an important role in the executive appointment process. At the time of approval, the impact of appointments on gender representation are displayed and serve as a key consideration.
As proud supporters of the Catalyst Accord and the 30% Club Canada, CIBC and the Board of Directors are dedicated to expanding opportunities for women in business by enhancing gender balance at all levels.
Victor Dodig, CIBC President and CEO, is Chair of the 30% Club Canada and sits on Catalyst Canadaís Advisory Board. We are proud of our leaderís commitment to this important business priority.
CIBC was one of the first corporations in Canada to dedicate an entire month to the celebration of diversity. This dedicated month to diversity education is only the start, kicking off a continuing series of celebrations of cultures and backgrounds that our employees carry out through the year.
Every June, a series of events are planned nationally to showcase the rich diversity among our employee population. During the month, employees organize a wide variety of events, including panel discussions, workshops, open houses and cultural festivities.
CIBC is proud to support eight employee-led Affinity Networks that link more than 3,000 employees from a variety of backgrounds. These networks provide informal advice and help ensure a workplace that provides equity and opportunity to all employees:
Women make up more than two-thirds of CIBCís workforce. We recently enhanced our sponsorship of Women in Capital Markets (WCM), a volunteer organization that promotes the entry, development and advancement of women in capital markets. WCM provides a forum for networking and develops information resources and education programs for women at all stages of their capital markets careers. A founding member of WCM, CIBC is committing $50,000 each year over the next three years to the organization.
Over the past five years, CIBC has invested more than $6 million in organizations that support women and girls. Our sponsorship of organizations like WCM, serves to strengthen our commitment to employment equity for women.
In 2008, CIBC and the Richard Ivey School of Business partnered to launch ReConnect, the first executive development program in Canada that is specifically designed to help professional women re-establish their careers after taking time out of the workforce to pursue other activities.
Reconnect is a seven-day immersion program that aims to renew critical business knowledge, provide leadership skills and serve as an important stepping stone for professional women looking to return to the workforce.
As the programís Founding Sponsor, CIBC is providing $1 million over five years to fund program development, underwrite program costs for participants and provide financial assistance to ensure access to the program for women with financial need.
To help ensure Canadaís youth have the resources they need to achieve their goals, CIBC has developed programs and made partnerships with organizations that give opportunities to young people across Canada:
The Partnership to Advance Youth Employment (PAYE) is a joint initiative between private sector employers, including CIBC, and the City of Toronto to increase economic opportunities for youth. Itís an opportunity for us play a crucial role in developing the potential of Torontoís youth ó as creators of jobs, mentors, and role models.
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