Chief Fiduciary Officer WM Job Listing at City National Bank in Los Angeles, CA (Job ID 11989)

Description

CHIEF FIDUCIARY OFFICER WM

WHAT IS THE OPPORTUNITY?
The Chief Fiduciary Officer provides strategic direction and oversight for the bank's trust and fiduciary operations. This role works with executive management within the Wealth Management Division to balance prudent risk management, regulatory oversight, business development, and client relationship management. The position requires a deep understanding of fiduciary law, risk management, regulatory compliance, and investment oversight.

WHAT WILL YOU DO?

• Regulatory compliance: Oversee all fiduciary activities to ensure compliance with 12 CFR Part 9, which includes requirements for fiduciary administration, policies and procedures, audits, recordkeeping, and managing conflicts of interest.
• Policy and procedure oversight: Develop, implement, and maintain the bank's written fiduciary policies and procedures as required by 12 CFR 9.5. This includes guidelines on brokerage practices, preventing self-dealing, and managing fiduciary assets.
• Fiduciary account administration: Manage the administration of all trust and fiduciary accounts, including regular reviews as stipulated by 12 CFR 9.6. This includes overseeing documentation, asset valuations, and appropriate investment strategies for each account.
• Audit management: Direct and coordinate the annual internal or external audit of fiduciary activities, presenting the results and any corrective actions to the board of directors. Serve as the primary point of contact for regulatory examinations related to fiduciary operations.
• Risk management: Identify, measure, monitor, and control the risks inherent in the bank's fiduciary activities, including conflicts of interest, self-dealing, and compliance failures. This requires special attention to the management of "self-deposits" and collateral requirements under 12 CFR 9.10.
• Assist with regulatory examinations internal audits and external reviews focus on cross functional horizontal assessments of PBWM activities and focus on management practices and adherence to best practices across wealth management.
• Build and sustain effective relationships across business lines risk management compliance and other support functions to drive operational success
• Provide oversight relating to reporting packages created for reporting to the CNB Wealth Management Fiduciary Committee; serving in a leadership delegate capacity and governance role to ensure proper oversight of reporting to the WMFC and other Board-Level committees as needed.
• Serve in a leadership capacity to ensure appropriate cross business collaboration and coordination to enhance efficiencies and risk mitigation activities across PBWM BUs.
• Assist with cultivating and developing talent within PBWM by fostering a culture of coaching mentorship and professional development.
• Provide leadership and development opportunities to enhance the expertise and capabilities of PB WM leaders.
• Promote culture of accountability, integrity, and transparency across PBWM teams

WHAT DO YOU NEED TO SUCCEED
Required Qualifications*

• Bachelor's Degree or equivalent
• Minimum 10 years of experience in trust and estate administration, fiduciary risk management, and regulatory compliance within a bank or wealth management firm.
• Minimum 5 years of experience in a senior leadership role.
• Minimum 5 years of experience with 12 CFR Part 9 and other federal and state laws governing fiduciary activities.

Additional Qualifications

• JD, MBA or other advanced degree preferred
• 10 years in a role requiring complex problem solving
• Deep understanding of relevant laws, rules and regulations related to Investment Management and Fiduciary activities
• Investment management experience (Broker/Dealer (FINRA) and RIA (SEC) required
• Strong interpersonal, verbal and written communication skills
• Project management or change initiative leadership experience
• Ability to multitask and prioritize and several concurrent initiatives
• Demonstrate ability to think strategically and apply creative solutions
• Demonstrate ability to interact effectively internally and externally at executive management levels
• Demonstrated ability to Influence change, build relationships, communicate effectively, work under pressure, manage multiple priorities and deliver high caliber results.

WHAT'S IN IT FOR YOU?
Compensation Starting base salary: $195,995 - $364,003 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.
ABOUT US
Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.

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