A power conversion system includes at least one multi-level power converter and a controller coupled to the at least one multi-level power converter. The controller includes a first CMV injection module and a second CMV injection module. The first CMV injection module generates a first CMV signal for modifying at least one voltage command to achieve a first function in association with operation of the power conversion system. The second CMV injection module generates a second CMV signal based at least in part on a three-level CMV limit either for modifying the at least one voltage command or for further modifying the at least one modified voltage command to achieve a second function in association with operation of the power conversion system.