Job ID BIS-13989City Los AngelesState CaliforniaAdditional Location: Exempt/Non Exempt
COMPLIANCE OPERATIONS SPECIALIST SENIOR
WHAT IS THE OPPORTUNITY?
This position is responsible for providing day-to-day compliance operations support. Key responsibilities are the timely and accurate processing of compliance and legal order documentation. Represents the department to both internal and external clients, attorneys and regulatory agencies to interpret and explain policies and procedures, respond to inquiries, requests and to resolve problems.
Banking and Investment Services Division As a member of City National's Banking & Investment Services group, you will be part of the essential central operations and back-end hub for all of the bank's lines of business.
WHAT WILL YOU DO?
Responsible for Subpoena processing which includes conducting research on bank systems to determine the applicable production of clients records, sending subpoena notifications to clients and/or business units, interacting with attorneys and regulatory agencies to determine and negotiate the production and due dates of records, requesting ,reviewing and mailing of the production of records.
Responsible for processing various types of Legal Processes which includes conducting research on bank records based on information provided on the legal order and determining accounts applicable to the order, holding and remitting clients funds and/or property to the respective agency.
Responsible for processing Currency Transaction reports which includes researching, verifying and evaluating transactions to determine if a currency transaction report is warranted to comply with The Financial Crimes Enforcement Network (FinCEN) regulatory requirements.
Responsible for reviewing and approving various transactions that alert due to Office of Foreign Assets Control OFAC.
Conducting daily review of nonsufficient funds (NSF) items for attorney-client trust accounts and notifying the State Bar, if applicable.
Processing of Forms W-9, processing U.S. Department of the Treasury check reclamations, invoking and releasing IRS backup withholding on deposit accounts and monitoring IRS B and C notices.
TEFRA balancing, remitting interest on IOLTA accounts to various State Bars, processing missing TIN report
Escheat process which includes reporting and remittance of unclaimed property to their respective States
Assisting with the mailing and corrections of year-end 1098/1099, B-notices mailing.
WHAT DO YOU NEED TO SUCCEED
Minimum 2 year of compliance or banking operations experience required.
Minimum 2 year of general office or accounting experience required.
Skills and Knowledge
Must be able to work accurate and effectively in a fast-paced, ability to multi-task, deadline-oriented environment.
Exercise good judgment and making decisions that impact client accounts and City National Bank operations.
Candidate must comply with Bank policies and procedures as well as BSA, OFAC and applicable regulatory requirements.
Great knowledge of Bank Secrecy ACT (BSA), OFAC and other regulatory requirements.
Knowledge in processing Currency Transaction reports, Legal Processes, Subpoenas, OFAC and/or general understanding of compliance related functions.
Great quality of work, quantity of work, job knowledge, customer service, problem solving, ability to work independently and initiative to take on new assignments, compliance and dependability.
Knowledge in reviewing and approving OFAC transactions and alerts, good understanding of compliance related functions.
*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.
City National Bank requires all colleagues to be fully vaccinated against COVID-19 to work on-site at any of our locations.