Compliance Specialist Senior Wealth Management

About the role

The Compliance Specialist establishes and implements an effective compliance program to ensure regulatory compliance for Bank Wealth Management products. Responsible for monitoring, discovering, interpreting, enhancing, updating, developing, tracking, and implementing pertinent and effective compliance policies and procedures related to operations initiatives within the internal and external compliance environment.

Responsibilities

• Monitors, analyzes, and escalates issues and concerns related to OCC requirements for Retail Non-Deposit Investment Products (RNDIP), Regulation R, and certain ERISA requirements, including issues identification utilizing sound and current compliance industry standards and practices.
• Functions as an internal consultant to colleagues throughout City National Bank (CNB) related to operational compliance issues and concerns, utilizing internal and external organizational agility to ascertain and deliver sound interpretation and advice.
• Works within the framework of the established CNB/RBC Testing Program overseeing timely remediation.
• Functions as a conduit for identifying and recommending improvements to existing internal operational compliance policy and procedure while recognizing opportunities for enhancement within the full scope of CNB’s compliance foundation.
• Maintains working knowledge of OCC Retail Non-Deposit Investment Products (RNDIP), Regulation R, associated investment products and services including associated ERISA compliance requirements.
• Conducts ongoing monitoring of compliance policy and program requirements for RNDIP and ERISA with special focus on RBC Qualified Professional Asset Manager (QPAM) requirements under PTE 84-14 and similar permitted exceptions.
• Assists in the preparation of annual and ongoing reports to executive management and the board of directors.

Requirements

• Bachelor's Degree or equivalent.
• Minimum 5 years of experience with bank operations and/or compliance operations.
• Minimum 5 years of experience with risk management and/or Compliance policies and procedures.

Qualifications

• A FINRA Series 7 and/or 24 is highly desirable.
• Demonstrated comprehensive knowledge in branch operations, client relationship, and risk management with a strong working knowledge of bank back office processes and systems.
• Thorough understanding of applicable laws and banking regulations.
• Proven leadership skills mixed with a propensity towards strong organization and time management skills.
• Ability to recognize and communicate enhancement opportunities along with developing creative and sound solutions within assigned duties.
• Excellent oral and written communication skills with all levels of management.
• Computer proficiency in Microsoft applications: Outlook, Word, Excel, PowerPoint, Access, and Project.
• 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.

Benefits

• 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.

Pay

Starting base salary: $85,000 - $145,000 per year for the NYC location. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.