Is it possible to enable execution of files from a cifs mount in bash

You are mounting the CIFS share as root (because you used sudo), so you cannot write as normal user. If your Linux Distribution and its kernel are recent enough that you could mount the network share as a normal user (but under a folder that the user own), you will have the proper credentials to write file (e.g. mount the shared folder somewhere under your home directory, like for instance $HOME/netshare/. Obviously, you would need to create the folder before mounting it).

An alternative is to specify the user and group ID that the mounted network share should used, this would allow that particular user and potentially group to write to the share. Add the following options to your mount: uid=<user>,gid=<group> and replace <user> and <group> respectively by your own user and default group, which you can find automatically with the id command.

sudo mount -t cifs -o username=${USER},password=${PASSWORD},uid=$(id -u),gid=$(id -g) //server-address/folder /mount/path/on/ubuntu

If the server is sending ownership information, you may need to add the forceuid and forcegid options.

sudo mount -t cifs -o username=${USER},password=${PASSWORD},uid=$(id -u),gid=$(id -g),forceuid,forcegid, //server-address/folder /mount/path/on/ubuntu

If you are only going to use the symbolic links from your Linux context, the mfsymlinks option to mount.cifs may be what you need:

   mfsymlinks
       Enable support for Minshall+French symlinks(see
       http://wiki.samba.org/index.php/UNIX_Extensions#Minshall.2BFrench_symlinks).
       This option is ignored when specified together with the 'sfu' option.
       Minshall+French symlinks are used even if the server supports the CIFS Unix
       Extensions.

For some background see this question.