Wealth Management Heightened Standards Risk Leader

• Establish and manage relationships with senior leaders across multiple Businesses Lines, Finance, Operations, Risk, Technology to effectively drive change.
• Work collaboratively within all units within the Wealth Management Division including Private Bank, City National Rochdale, City National Securities, Symphonic Securities, CN Trust & Estates, Delaware Trust and with second line of defense teams to coordinate risk management and measurement activity.
• Provide strategic direction to business lines in exploring new products and growth initiatives, including industry focused verticals and expansion opportunities.
• Ensure business/strategic plans are consistent with the Risk Appetite Framework and Division risk Limits.
• Work with WM and business unit leaders and the Wealth Management Division Executive to assess risk requirements to proactively support strategic business initiatives.
• Drive the creation and enhanced dashboard reporting for business leaders and managers.
• Deliver on new strategic initiatives with a focus on reducing costs.
• Manage all Division risk activities in coordination with key Front Line Division leaders and the various Risk Management functional areas of the Bank, such as Enterprise Risk, ensuring timely escalation of risk issues to the Division Executive, management team and Enterprise Risk Management as applicable.
• Develop the appropriate risk management framework to ensure Wealth Management and each LOB has coverage for functional areas that consistently adher to the enterprise risk management framework (i.e. Enterprise Risk Self Assessments, Control Testing, etc.)
• Subject matter expert for the activities performed in the Wealth Management Division's LOBs and their associated risk exposures.
• Coordinate and serve as primary liaison for all internal/external audits and regulators.
• Chair specific Wealth Management Committees and present to CNB Board or Bank committees as needed.
• Interface with RBC counterparts on risk related issues.
• Oversee and/or facilitate the risk assessment process including RCSA, Compliance Risk assessment, Third Party Risk Assessment, Business Continuity Plan, and monitor results and issues raised to ensure remediation is progressing timely.
• Develop and maintain a risk and compliance monitoring & testing program to assess effectiveness of controls, addressing key elements of process, frequency, approach, documentation, and actions.
• Coordinate the completion of risk mitigating actions and providing status updates of open/closed issues and recommendations for control and process enhancements to senior management and second line risk management functions.
• Help ensure that products, financial solutions and services are provided ethically and with integrity in a manner that is consistent with the client-first culture and values embodied in City National's PRIDE statement.
• Advance risk and 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.
• Develop and implement risk management and compliance routines to assure proper alignment exists with SEC and FINRA expectations.
• Develop sufficient internal controls to promote an effective risk control environment.
• Partnering with business units to remediate risk, internal audit and compliance findings identified in internal and external examinations and audits.
• Oversee the management of issues for the Division (corrective action, issues tracking and reporting), elevating to Executive Management as needed.
• Understand Divisional policies and procedures governing the risk activities and applicable regulations to ensure controls are in place to comply, and any breaches are escalated and resolved timely.
• Participate in various Risk committees as deemed appropriate to ensure the Division is represented and risks are appropriately escalated and managed; provide updates on the development of the business line risk framework.
• Identify and attract experienced talent to CNB to execute on attractive market and strategic opportunities.
• Manage and coordinate all risk activities across the division to ensure material/key risks are identified, escalated, managed and remediated timely; act as central point of contact to Enterprise Risk Management on the applicable risk categories to the division (e.g. Credit Risk, Operational Risk, Compliance Risk, etc.)
• Manage updates to the RCSA through periodic workshops to ensure appropriate identification of current risks and emerging risks with the Division.
• Support Human Resources with any risk activities identified through the talent management processes and Incentive plans as needed.
• Develop and Lead the Division's Risk Committee to ensure proper governance is established and adhered to within the Division.
• Develop actionable risk management dashboards, including key risk indicators, leveraging existing and developing new reporting as needed; ensure alignment of management reports with Enterprise Risk Management and other applicable areas.
• Identify Risk Limits and processes to monitor compliance and escalate breaches within the division and Enterprise Risk Management as applicable
• Perform ad-hoc projects for the Division as needed.
• Responsible and accountable for appropriate quality controls related to the financial producter by the Wealth Management Division, the processes employed and the incentives with which colleagues are awarded.

Must-Have*

• Bachelor's Degree
• Minimum 15 years of investment compliance/broker dealer/fiduciary/trust experience in a banking or investment environment
• Minimum 10 management experience required
• FINRA Series 7: General Securities Rep
• FINRA Series 24: General Securities Principal
• Minimum 5 years of experience with the application of Heightened Standards across Private Banking, Asset
  Management, Brokerage and Trust

Skills and Knowledge

• Legal experience within the financial services industry preferred
• Minimum 20 years of investment compliance/broker dealer/fiduciary/trust experience in a banking or investment environment
• 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.
• Minimum 10 years' experience in Risk Management, Compliance or leadership role building and managing teams
• Working Knowledge of OCC, FINRA and SEC regulations
• Business maturity level and skill/judgment to be able to deal effectively with leadership team members within the Division as well as enterprise wide as required
• Have a well-rounded understanding of all material risks affecting the Division
• Effective presentation and communication (verbal and written) skills
• Ability to impact and influence all levels in the organization
• Ability to think strategically about impact of changes within each Wealth Management Division LOB
• Excellent written and oral communication skills
• Ability to build relationships for collaboration and build a strong compliance and risk culture for all WM and PB colleagues