Organizational Structure Review Canadian Imperial Bank Of Commerce Business Essay

“Our objective is to be the primary financial institution for our clients. Our success depends on building strong relationships and on our ability to help clients achieve their financial goals” (www.cibc.com). Like other banks, Canadian Imperial Bank of Commerce (CIBC) has online banking, telephone banking, business banking and personal banking. One section that looks interesting is the area in which they call Personal Wealth.

The latter point that was made seems to be very strategic. It puts the customer in control of wealth or lack thereof. I am impressed with that aspect of their marketing strategy. The jobs that can be secured at this level are sales associates to account managers. There is a lot of room for growing within CIBC.

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Finance

The structure found within the financial aspect of the organization is that of Director of finance, senior financial analyst and financial analyst. “The Finance group provides financial services to CIBC’s businesses through effective governance and decision support processes” (www.cibc.ca). The director and senior financial analysts have more responsibilities herein.

CIBC has financial obligations as a business. They have a system of accountability that helps to control what information is being used within the company. The Director most likely has most responsibilities of that control, within the organization and as far as customers are concerned, business or otherwise.

Human Resources

The Human Resources department is not in a category of its own within CIBC. This structure falls under a much larger structure of Administration. “[Human Resources] develops and implements programs to attract, retain and support employees throughout their careers at CIBC” (www.cibc.ca). Part of this structure, not unlike other organizations, is responsible for training and equipping employees to develop their careers so that turn-over is minimal.

Operations

Operations’ was somewhat ambiguous on the CIBC webpage. It fell under the category of technology and operations. I am not really sure as to why they would lump those two together. From what I can see is CIBC runs like a well-oiled machine. They definitely have all their bases covered and it seems like there is much room for growth within the organization, and it appears to be a healthy place in which to build one’s career.

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Retrieved from: http://www.cibc.com/ca/personal.html

Organizational Structure

The organizational structure of CIBC is of integrated type of governance which has both flat (horizontal) and vertical type of structures. Long-term success involves effective governance. CIBC has already been recognized as a leader in this area, they endeavour every year for continuous improvements in their governance structure and processes.

Integrated governance model

CIBC’s senior management team plays a very important role in the overall control of CIBC’s businesses by providing well-timed and precise information to the Board to assist the directors in their misunderstanding tasks. Regular and sincere relations between the Board and management are another key aspect of a well-built governance to support the long-term interests of CIBC’s investors. Another factor of good governance is that it also include being a responsible corporate citizen. CIBC is renowned as a leader in ecological business practices and corporate social responsibility.

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Retrieved from: http://www.cibc.com/ca/inside-cibc/governance.html

Board Responsibilities and Governance Structure

The Board is responsible to supervise the management of CIBC’s business and associations. The Board provides direction to management, through the Chief Executive Officer (CEO), to practise the best interests of CIBC. The Board’s has a important role to be played in the responsibilities that are outlined below.

Strategic planning

The Board supervises the development of CIBC’s strategic direction, process, plan and priorities, reviews Management’s intentional plan, approves the annual strategic plan and considers management’s review of emerging trends, the competitive environment, risk issues and important business practices and products.

Risk management

The Board reviews management reports on material risks related with the CIBC’s businesses and operations, the performance by management of systems to manage these risks and material deficiencies in the function of these systems.

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Corporate governance

The Board reviews CIBC’s advance to corporate governance, director independence, the Code of moral principles for Directors and CIBC Code of Conduct for employees.

Financial information

The Board reviews CIBC’s internal controls describing the financial information, management reports on material defects relating to those controls and the integrity of CIBC’s financial information and systems

Communications

The Board reviews CIBC’s taken as a whole communications approach, process for receiving shareholder response, material changes to CIBC’s disclosure guidelines and the communication structure between the Board and its stakeholders.

Board committees

The Board set up committees and their mandates and requires committee chairs to give a report to the Board on material matters considered by the committee at the next Board meeting.

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Director development and evaluation

Each director participates in CIBC’s director development program. The Board assess the performance of the Board, its committees and the, its committees and directors

Retrieved from: http://www.cibc.com/ca/pdf/about/corp-gov-practices.pdf

Organizational design

Geographic Design

It groups jobs on the basis of territory or geography, here we are talking about the CIBC, which is the leading bank in Canada and it deals with the people of different geographical regions in Canada. More of the effective and the efficient handling of a specific geographic regional issues that generally arise within the geographic region and serve the needs of unique geographic markets better in this geographic region and the main things in this kind of design are the duplication of functions of the branch and it can feel isolated from other organizational areas of the bank

Functional Design

A functional structure is a design that groups similar or related occupational specialties together. It is the functional approach to the entire organization.

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Customer based Design: Every organization would find it very advantageous to organize according to the types of customers it serves. CIBC is money lending n service distribution Company that lends money to customers, business clients, large businesses, and small businesses may decide to base its primary divisions on these kinds of different markets. It is the personnel can then become proficient in the service, meeting the needs of the banks different customers. In this way, an organization that offers services like as banking or service may group its workers according to the types of customers of the bank.

Product Design

The product design is the design which groups the jobs by product line in the system. Each of the managers in the organization is responsible for an area within the organizational limits depending on his/her specialization. This design allows specialization in particular products and services of the banking sector and this design even manages the system by the way that managers can become experts in their industry and come closer to customers and the negative factor in this is the duplication of the system’s workers functions with a limited view of the organizational goals

Service design

The CIBC is a customer service dependent organization or the banking sector in which the customers are respected very much and are treated with respect and in this design the managers take care very much of the service offered to the customers.

Hybrid design

The CIBC is this kind of the organization in which the clients are most respected and the manager will take care of the customer and the design will be created to deal with each customer. Mainly the project manager will deal with the customer relation research and best customer service.

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Matrix Design

CIBC organization finds that none of the mentioned structures meet their growing needs. The only approach that attempts to overcome inadequacies is the matrix structure, which is the combination of two or more different structures. Functional design commonly is being combined with product groups on a project basis. For example, a product or a service group wants to develop a new addition to its line; for this project, it will obtain personnel from functional departments such as research, engineering, production, and marketing. These personnel then work under the manager of the product group for the duration of the project, which can vary greatly with reference to the completion of the project.

Marketing channels design

The marketing organization’s design directly impacts ability to respond quickly to the unique dynamics of your industry, marketplace, and corporate objectives. Marketing organizations see themselves less effective as they are disconnected from business they are supporting, they are structured to meet yesterday’s demands, or have experienced a talent-decline. Over the time, the function can get apart with the marketing knowledge of the industry and skill levels needed by the company, as becoming distanced from those driving business in sales, the market and executive management.

Marketing organization assessment and design

Skill and knowledge assessments

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Departmentalization

The environment is complex and uncertain. And the lower-level managers are capable and experienced at making decisions because of their participations in the systems discussions. As such they get a voice in decisions, their decisions are relatively minor. Here in the corporate culture, we see that it is open to managers, allowing them to have a say in what happens in the system with their decisions. The company is geographically dispersed over the particular region with a standard. The effective implementation by the managers for the company’s lead depends on managers being involved and their flexibility to make decisions.

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