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Brokerage Operations Manager

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Job ID BIS-15044 City Los Angeles State California Additional Location Remote Exempt/Non Exempt Exempt Shift Day Work Schedule M-F, 8-5
Job Details:
MANAGER BROKERAGE OPERATIONS (Remote Eligible)



WHAT IS THE OPPORTUNITY?

The Manager of Brokerage Operations will report to the Head of Investment Operations in Banking and Investment Services, and will be responsible for leading the strategy, risk, and processing for our brokerage operations functions, which support our Wealth Management business and other businesses across City National Bank. Responsibilities are multi-faceted and include timely and accurate processing of incoming and outgoing ACATs, cash processing, client distributions, new account onboarding, client account maintenance, as well as oversight of settlement and reconciliations for our 3rd party custodians (experience with Fidelity and SEI a plus). The Manager of Brokerage Operations will also be tasked with driving our strategic agenda across multiple programs in partnership with the Wealth Management business and Technology and Innovation organizations as we look to deliver new solutions across operating model and efficient processing. The role will also look continuously to recruit, train, and retain top talent for the organization to support our ever-growing business demand and have oversight of all audit/compliance activities within the department. The role may also include functions covering Trust and other related processes in the future.



Banking and Investment Services Division
Banking and Investment Services plays an integral role in leading the strategic vision and execution of all banking operations. Our servicing and operations professionals partner closely with all of our lines of business to carry out critical functions, including client/deposit servicing, contact center operations, payments processing, and trade and lending operations, while identifying and mitigating risk throughout the organization. Servicing and operations professionals seek to transform and define an integrated support model through automation and cutting-edge digital technologies, to deliver an excellent experience for our clients and businesses.



WHAT WILL YOU DO?

  • Lead the strategy, risk, and processing for our brokerage operations functions
  • Timely and accurate processing of incoming and outgoing ACATs, cash processing, client distributions, new account onboarding, client account maintenance, as well as oversight of settlement and reconciliations for our 3rd party custodians
  • Drive strategic agenda across multiple programs in partnership with the Wealth Management business and Technology and Innovation organizations
  • Reengineer core business process reporting to be highly automated, and provide deep insight at manager and executive level
  • Coach and lead team members on assigned business objectives
  • Recruit, train, and retain top talent for the organization
  • Develops project plans and executes within approved time and budget
  • Establishes and maintains performance metrics to measure program success
  • Manages risk by ensuring reviews and sign offs from appropriate stakeholders
  • Works cross-functionally with technical, business, and compliance counterparts to define product release requirements and investigate production issues as they arise



WHAT DO YOU NEED TO SUCCEED

Must-Have*

  • Bachelor's Degree
  • Minimum of 10 years of Financial Services experience
  • Minimum of 10 years of experience in investment operations and client service


Skills and Knowledge

  • Understanding of current regulatory environment, and applicability
  • Knowledge of OCC/NASD/SEC regulatory framework audit/compliance and heightened standards of risk
  • FNRA Series 99 Operations Professional designation preferred
  • Strong knowledge in MS Word, Excel and MS Access
  • Must possess demonstrated management skills.
  • Deep understanding of investment operations and services.
  • Excellent verbal and written communications skills sufficient to interact with all levels of Bank Personnel and clients.
  • Strong presentation and communication skills with the ability to plan and present to prospects, clients and executive management.
  • Strong analytical skills.
  • Demonstrated leadership and collaboration capabilities.
  • Proven and measurable change management experience.
  • Ability to manage multiple initiatives simultaneously.
  • Must possess strong financial and business acumen and savvy.
  • Ability to work under pressure and excel in a fast-paced environment.
  • A strong understanding of technology.
Compensation
Starting base salary: $130,990 - $170,155 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 qualifications
The 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.



INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. 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 law.



ABOUT CITY NATIONAL

We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.

Positions based in New York City: In order to work on-site at City National Bank in New York City, you must be fully vaccinated against COVID-19, per city requirements. Shortly after your start date, you will be required to attest to your vaccination status and will be required to provide proof of vaccination.

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Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
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