Compliance Conflict of Interest Manager

Company: City National Bank
Location: Los Angeles
Posted on: February 1, 2025

Job Description:

COMPLIANCE CONFLICT OF INTEREST MANAGERWHAT IS THE OPPORTUNITY?This position is responsible for fiduciary analysis, monitoring, analyzing, and escalating matters of regulatory or legal initiatives, requirements, issues or concerns related to Conflicts of Interest (COI) so that timely and necessary enhancements to the Bank's Compliance Program can be developed and implemented within statutory timeframes utilizing sound and current compliance industry standards and practices. Responsible for the review and enhancement of the Bank's COI Program policies and procedures, including the development of related policy position documents. As assigned, collaborates with Compliance colleagues and business line management to conduct risk assessments in order to recommend enhancements to current policy and procedures. May supervise one or more professional staff. To provide support in the development, implementation and testing of modification and enhancements of COI transaction monitoring models. Works with the Compliance Training Officer to ensure that ongoing management of the training content within the Bank's COI Training program is timely, accurate, and responsive in meeting job-specific compliance responsibilities throughout the Bank's various lines of business and job functions. Plays a key role as an internal consultant to colleagues throughout the organization related to the Bank's implemented COI Program.What you will do

• Monitor and escalate COI issues and concerns of impact to the industry within the regulatory and legal environment to enable the Bank to respond to changes, initiatives and statutory requirements in the areas of COI in City National Bank and third-party investment platform to assess any potential customer harm resulting from COI.
• Identify current "financial interests", obtain and review information relating to investments and other applicable activities of board members, senior officers, and other appropriate personnel.
• Develop, execute and monitor a remediation plan for all identified conflicts, including customer harm as applicable; incorporate a legal opinion supporting the remediation plans, including any identified customer harm as applicable.
• Present results of fiduciary analysis and management's remediation plans to the Board for approval.
• Conduct/oversee/facilitate First Line Unit ("FLU") key control testing to new key controls associated with changes in the above remediation.
• Conduct/oversee/facilitate 2LOD Risk (ICGO) review and challenge of completion of VOL 1 milestones.
• Conduct/oversee/facilitate 2LOD Compliance review and challenge of completion of VOL 1 milestones.
• Collaborate with Internal Audit (IA) validation of the effectiveness and sustainability of the applicable corrective actions.
• Assists in the ongoing and annual review and enhancement of the Bank's COI Program to help ensure that policies and procedures comply with legal and regulatory requirements and industry best practices.
• In conjunction with the Compliance Training Officer, develops, implements, and manages the Bank's COI compliance training program, including partnering with business lines and management to ensure timely and effective updates to COI training content that meet job-specific COI compliance responsibility.
• Supervises staff conducting risk assessments and performs periodic risk assessments of overall business processes to identify COI compliance gaps and potential exposure. Analyzes and evaluates COI compliance risks and recommends changes to policies and procedures.
• Partners with business lines in the development of new and/or updated policy and procedure related to COI Bank wide as well as internally.
• Acts as a COI regulatory consultant throughout the Bank. Communicates and escalates (as assigned) identified COI operational concerns to the appropriate level of management.
• Identifies and addresses compliance-training needs by collaborating with business areas and the Compliance Training and Human Resources Training areas. In conjunction with the Compliance Training Officer, is responsible for maintaining the COI area of the Compliance Education Website.
• Partners with business units to remediate compliance findings identified in internal and external examinations.
• Maintains up-to-date knowledge of regulatory and legal requirements and industry best practices.
• Participates in and completes bank-wide projects.
• Maintains up-to-date knowledge of Bank policies and procedures.
• Integrates activities with other departments to accomplish common goals.
• Serves as resource to internal and external customers; ensures quality customer service and effective and efficient operational support.
• Applies both technical and general business knowledge to resolve the most complex issues in assigned function.
• Performs other duties as assigned or requested.Must-Have*

• Minimum of 7 years experience in a Compliance or Risk role required.
• Minimum of 7 years experience with Compliance or Risk documentation (i.e. risk assessments, project plans, testing memoranda).Skills and Knowledge
  • Previous Management experience preferred.
  • Proficient with Microsoft Office Suite (e.g., Word, Excel, PowerPoint, Outlook).
  • Bachelor's degree with designation in business or finance or equivalent experience preferred.
  • Ability to perform functional duties and related positions with minimal supervision.
  • Ability to interact effectively with all levels of Bank personnel and customers.
  • Excellent verbal and written communication skills; excellent interpersonal and customer service skills.
  • Knowledge of regulatory requirements with specific emphasis on COI and general bank policies and procedures.
  • Ability to analyze complex situations and provide guidance, makes recommendations, and/or escalates issues appropriately.
  • Ability to handle problem situations with colleagues and clients effectively.
  • Ability to supervise and coach staff.
  • Experience communicating and interacting with regulatory agencies, including exam management and other regulatory affairs.
  • For Banking Compliance related roles, Certified Compliance Risk Manager (CRCM).
  • For Wealth Management Compliance roles, experience with a financial institution such as a broker/dealer and/or registered investment adviser.
  • For Wealth Management Compliance roles, experience working within a Compliance Investment Management role.CompensationStarting base salary: $111,408 - $189,738 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.*To be considered for this position you must meet at least these basic qualificationsThe preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.Benefits and PerksAt City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our .ABOUT CITY NATIONALCity National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.* In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.*City National Bank does business in Miami and the state of Florida as CN Bank.For more information about City National, visit .EQUAL OPPORTUNITY EMPLOYER & REASONABLE ACCOMMODATIONCity National Bank is an equal opportunity employer committed to promoting and maintaining a diverse, equitable and inclusive working environment where differences are valued and encouraged. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by the laws or regulations in the locations where we operate or in our Code of Conduct. If you are a qualified individual with a disability or a disabled veteran, you have the right to request a reasonable accommodation for any part of the employment process. Please contact us via or leave a message at (213) 673-9139. These contact methods are dedicated to applicants whose disability prevents them from successfully applying online. Only messages left for this purpose will be returned. Responses may take up to two business days.
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Keywords: City National Bank, Norwalk , Compliance Conflict of Interest Manager, Accounting, Auditing , Los Angeles, California