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Chief Compliance Officer

ExecuNet

This is a Full-time position in los angeles, ca posted November 28, 2021.

WHAT IS THE OPPORTUNITY

The Chief Compliance Officer (CCO) of the bank’s Wealth Management businesses and its proprietary mutual funds, will be responsible for developing and overseeing the compliance programs of CNB’s SEC registered broker/dealer and investment adviser subsidiaries/affiliates and its proprietary funds, as well as the trust/fiduciary activities conducted within its national bank charter, while promoting a strong culture of ethics, compliance, and integrity across CNB. As a business line operating out of entities that are direct and indirect subsidiaries of CNB, a national bank regulated by the Office of the Comptroller of the Currency (OCC), and Royal Bank of Canada (RBC) in the U.S., which operates out of a bank holding company regulated by the Federal Reserve, it will be critical for the CCO to balance regulatory expectations across various regulatory regimes.

Risk Management Division

This is a great opportunity to grow your career with a stable and expanding organization as a member of City National’s Risk Management team. The focus is on ensuring business activities remain safe, compliant and well-positioned for future opportunity and sustainable growth.

WHAT WILL YOU DO

  • Advance compliance programs that focus on regulatory requirements across applicable regulatory regimes, including, but not limited to: the Investment Advisers Act of 1940, the Investment Company Act of 1940, the Securities Act of 1933, and Securities Exchange Act of 1934, and OCC Regulation 9.
  • Advocating for a strong culture of compliance with senior management and business partners
  • Providing oversight and challenge to front line compliance risk taking activity in alignment with OCC’s Heightened Standards and provide guidance as necessary
  • Developing and implementing independent risk management routines to assure proper alignment exists with SEC and FINRA expectations
  • Overseeing compliance management activity within the firm’s RIA program, specifically, including ongoing maintenance of firm’s Form ADV, Parts 1 and 2 as well as regular and periodic updates.
  • Providing oversight of firm and agent registration and licensing for broker dealer, registered investment adviser
  • Providing periodic reporting to CNR, CNS, and Investment Company boards upon matters of compliance including the annual CCO Certification or 206(4)-7 memo, and annual 38a(1) reporting
  • Providing proactive compliance support and assuring all regulatory and policy matters are well understood and effectively managed
  • Developing sufficient internal controls to promote an effective compliance control environment
  • Prioritizing compliance activities toward areas identified as having the highest levels of legal and regulatory risk to the company
  • Performing periodic risk assessments of business and operational activities to identify compliance gaps and potential exposure
  • Establishing job specific compliance training for officers and employees
  • Partnering with business units to remediate compliance findings identified in internal and external examinations and audits
  • Integrating activities with other departments to accomplish common goals.
  • Maintaining up-to-date knowledge of industry best practices to further develop effective compliance policies and procedures
  • Providing leadership with CNB affiliates to assure efficient operations as well as full compliance.
  • Communicating with the regulatory agencies, and coordinating compliance examinations.
  • Elevating issues to the Chief Compliance Officer’s attention, and reporting to senior management.
  • Performing other duties as may be requested by the company’s Chief Compliance Officer
  • Complies fully with all bank operational and credit policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).

WHAT DO YOU NEED TO SUCCEED

Must-Have

  • Bachelor’s Degree plus J.D. or professional designation (such as a CFA) is a plus
  • Minimum 10 years of investment/asset management/broker dealer/fiduciary/trust experience in a banking or investment environment required.
  • Minimum 3 years of management experience required
  • FINRA Series 7: General Securities Rep And
  • FINRA Series 24: General Securities Principal

Skills and Knowledge

  • Advanced knowledge of the Investment Advisers Act of 1940, the Investment Company Act of 1940, the Securities Act of 1933, and Securities Exchange Act of 1934 is required, with knowledge of bank non-deposit investment product requirements, OCC Regulation 9, and ERISA regulations.
  • Knowledge and ability to reinforce a strong culture of compliance and provide independent challenge to senior management and business partners.
  • Ability to develop and implement appropriate policies and procedures and compel others to adhere to them.
  • Must possess excellent verbal and written communications skills sufficient to interact with all levels of Adviser and Fund Personnel, clients, vendors, etc.
  • Ability to write policies and create compliance disclosures.
  • Working knowledge of Microsoft office programs (Word, Excel, Power Point).