Chief Compliance OfficerJob ID RISK-10351 City New York State New York Exempt/Non Exempt Exempt Shift Day Work Schedule M-F, 8-5
This colleague will be the Chief Compliance Officer (CCO) for City National Rochdale Investments (CNR), an SEC registered investment adviser. The CCO is responsible for the management and administration of compliance programs for the SEC Registered Investment Advisory. The CCO will direct, develop, implement, and maintain written policies and procedures governing all compliance activities for the advisor and its funds to comply with various Federal and State Securities Laws; act as the primary contact for internal and regulatory examiners; coordinate compliance activities with City National Bank (CNB) and non-bank affiliates; and monitor the activities of the sub-advisers and other service providers. This colleague will manage CNR's compliance colleagues and performs other duties as requested by the CCO of Wealth Management, the CEO of CNR and the various fund Boards. The CCO may also have responsibility for CNR's related Mutual Fund Complex ("CNR Funds").
Mutual Fund Activities:
- Works with the Wealth Management CCO to provides quarterly and annual reporting on compliance matters relating to the funds or as may be directed by the Board , CEO or CCO of Wealth Management;
- Reviews board reports for accuracy, effectiveness and clarity; initiates modifications as requested or as may be recommended in collaboration with fund counsel;
- Works with counsel to develop and update prospectuses and other disclosures required for mutual funds;
- Identifies issues resulting from internal and/or external compliance examinations; makes recommendations for appropriate actions and documents compliance procedures;
- Monitors, reviews and comments on regulatory filings prepared by service providers, including counsel, administration and accounting, for registration statements, quarterly holdings reporting, financial statements, and proxy voting;
- Monitors quarterly compliance reporting by fund sub-advisers and other service providers. Designs and develops appropriate oversight as required under Rule 38a-1 of the Investment Company Act of 1940, as amended;
- Responsible for compliance activities and communication of funds' business initiatives with service providers, including advisers, sub-advisers, transfer agent, fund administration and accounting, custodian, distributor, and counsel; and
- Integrates industry benchmarking and best practices through ongoing research, education and industry affiliations;
- Reviews all advertising associated with the funds.
Investment Adviser Activities:
- Provides quarterly and annual reporting on compliance matters relating to its activities as an Investment Adviser;
- Provides timely reporting to Management Committees, Board and CCO of Wealth Management and CEO of CNR;
- Provides training and guidance to asset management colleagues regarding changes in regulations and company procedures;
- Integrates real-time industry benchmarking and best practices through ongoing research, education and industry affiliations; shares knowledge and coordinates compliance with Bank's Compliance Department;
- Champions compliance policies and risk management controls in concert with CNB's overall compliance program;
- Develops the testing program along with the CCO of Wealth Management for the Annual 206(4)-7 Certification;
- Drafts the annual CCO Certification or 206(4)-7 memo and related documents;
- Reviews advertising for the investment advisor activities;
- Identifies issues resulting from internal and/or external compliance examinations; follow-up of agreed-upon resolutions of findings while providing creative and innovative analyses and best practices solutions;
- Completes annual and periodic regulatory filing on Form ADV. Responsible for accuracy of disclosure.
- Manages the compliance colleagues of CNR;
- Meets with executive management to discuss pertinent issues and provides compliance consultation;
- Provides compliance leadership to all of wealth management.
- *Minimum of 8 years of compliance experience with Registered Investment Advisors, Mutual Funds and/or alternative products such as hedge funds, in a banking or investment advisory firm required.
- *Bachelors degree required.
- *Minimum of 3 years of experience in the specific capacity of "Chief Compliance Officer" required.
- *Minimum of 2 years of management experience required.
- *Series 7 & 24 licenses required.
Job Skills and Knowledge:
- JD strongly preferred.
- Knowledge of BSA and GLBA required.
- Strong competence and knowledge of state and federal securities laws, valuations for alternative products and tender offer procedures, along with other traditional 40 Act rules, bank non-deposit investment product requirements, as well as BSA, privacy and other traditional banking regulations applicable to a bank subsidiary.
- Experience developing proactive compliance monitoring programs used to help mitigate regulatory and operating risks.
- Ability to develop and implement appropriate policies and procedures that compel others to adhere to them.
- Must possess excellent verbal and written communications skills sufficient to interact with all levels of management, the Adviser, the fund colleagues, clients, vendors, etc.
*Represents basic qualifications of the position. To be considered for this position you must at least meet the basic qualifications.
City National Bank is an Equal Opportunity Employer -- Minorities/Females/Individuals with Disabilities/Veterans.
Note: This 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.
Note: Candidates should be advised that City National Bank does not pay interviewee travel expenses or relocation expenses for candidates who are hired unless previously agreed.