Innovation LeadStart Application Job ID BATS-8144 CitySanta Monica StateCalifornia Exempt/Non ExemptExempt ShiftDay Work ScheduleMonday-Friday, 8-5
The Innovation Lead will play a key role in defining and driving innovation and thought leadership for City National Bank. This role will report to Head of Innovation and be responsible for innovation leadership across multiple bank divisions. The key responsibilities include identifying high value opportunities that align with divisional and corporate strategic priorities and driving awareness, education, and adoption of these new capabilities to support the growth and profitability of City National Bank. These opportunities will be sourced through independent research, thought leadership, and collaboration with divisional leadership on topics pertaining to industry trends, emerging fintech capabilities, and/or competitor initiatives for both client facing and internal business capabilities.
The Innovation Lead will conduct Fintech sourcing and evaluation and coordinate with internal stakeholders and senior leadership to develop and prioritize Innovation initiatives. The Innovation Lead will also work extensively with City National's parent company, Royal Bank of Canada, and their global innovation resources, Venture Capital firms, Incubators, technology vendors, and consultants.
As a leader for innovation activities at City National, the Innovation Lead will think and act in the broader context and interests of the enterprise, and develop strong collaborative working relationships across City National Bank, the RBC Innovation Teams, and the broader Fintech and Venture industries.
- Reporting to CNB's Head of Innovation this role will collaborate with CNB's Manager of Corporate Strategy, the Manager of Technology Banking and other internal stakeholders (Digital, Product, Lines of Business, etc.), CNR, and RBC partners (US Wealth Management, Global Wealth Management, and Technology & Operations) to establish priorities around business needs.
- Track and report on the Fintech innovation activities of key competitors. Develop relevant action plans to address any major Fintech competitive gaps.
- Provide ongoing updates and reports to senior management regarding City National's innovation collaboration efforts with RBC, and their applicability to CNB's strategy and business model.
- Work within the organization, interfacing with managers and other colleagues to understand the RBC portfolio of solutions and products in order to consider relevant potential innovation opportunities.
- Act as liaison with RBC, business partners, Venture Capital firms, Fintech companies, business units, and clients.
- Maintain current knowledge of developments, trends, competitive environment, and regulatory change in the financial services and technology industries. This includes shifts in client preferences, emerging threats/opportunities, and core financial drivers that will positively impact revenue and drive efficiencies.
- Build relationships across RBC, CNB Corporate Development functions and CNR to identify potential Fintech innovation opportunities. Correspondingly, be familiar with objectives for investment bank, private equity, or venture capital activities.
- Create ongoing updates and recommendations, with relevant supporting materials, documentation, business cases, and thorough analysis to senior management on identified Fintech innovation opportunities.
- Facilitate the development of City National's innovation strategy and ensure alignment with the long term objectives of the business.
- Partner and consult with senior leaders to conceive an innovation roadmap that will include RBC's innovation strategy, new capabilities and/or enhancements to current offerings.
- Identify key performance indicators to ensure the innovation efforts that are active with RBC are on-track and in-line with CNB's business roadmap.
- Leverage clear, compelling and diverse array of communications to gain buy-in from key stakeholders, help others understand overall strategy and associated initiatives, and manage through appropriate governance groups
- Operate as a thought leader at CNB to provide strategic visionary thinking in order to promote transformation and change by creating awareness with CNB's business units and colleagues regarding the initiatives being undertaken and evaluated.
- Collaborate with CNB lines of business, development, product, and operations groups to conduct insights as well as design outputs to grow revenue and improve operational efficiency.
- Perform as a strategic partner to facilitate leveraging Fintech innovation to influence change, realize new processes, and develop a strong collaborative working relationship with senior leaders of City National Bank.
- Contribute and influence strategic direction for senior leadership using informal and formal communication.
- Exercise decision making and independent judgment while being aligned with RBC, CNB's Executive Management, clients and colleagues.
- Contribute to a culture of innovation proactively seeking ways to enhance the capability and performance efficiency, efficacy and success of City National's innovation.
- *BA/BS Degree Required
- *Minimum 8 years of work experience
- *Minimum 5 years of Management or Technology Consulting
- *Minimum 5 years of experience in Commercial Banking, Wealth Management, or Commercial Real Estate
Skills and Knowledge:
- Exposure to and accountability for strategic direction of innovation activities required
- Strategic leader with a clear understanding of the innovation Fintech ecosystem including recent competitor, regulatory, capability, and technology trends. Strong communication skills with the ability to work collaboratively with RBC management and colleagues.
- Passion and genuine curiosity for the innovation thought process and leadership with proven success in identifying trends and seeking out alternate solutions to engage with clients and colleagues in new ways
- Experience collaborating with cross-functional teams on transformation efforts and projects of significant scope required
- Excellent verbal and written skills required with the ability to effectively communicate broader vision and strategy
- Strong leadership qualities including organizational and interpersonal savvy in order to inspire and influence at all levels within City National
- Broad knowledge of innovative business models, processes, and development, particularly related to the Fintech industry
- Has the ability to build followership and can effectively execute in a collaborative and matrix environment
- Preference for experience with enterprise level transformation including experience helping to build and scale identified solutions
- Ability to build an innovation strategy and culture that supports experimentation of identified concepts and solutions
- Project Management experience with strong strategic thinking and leadership skills
- Can foster collective and individual creativity, and generate processes for ideation, prototyping, and production
- Have the ability to effectively balance risks versus potential rewards for innovation activities based on City National's tolerance for risk, organization objectives, and other factors
- Be creative and visionary, with the ability to identify opportunities and take them through the life cycle from concept to production
- Comfortable making presentations to audience with different stakeholders participating
- Strong financial acumen and attention to details
- Must possess maturity, high integrity, energy and team spirit
- Ability to conduct market, industry and company research
- Strong effective presentation and communication skills ~Effective and efficient problem solving and analytical skills
- Responsible and accountable for appropriate quality controls related to the financial products we provide, the services we deliver, the processes we employ, and the incentives with which we reward our colleagues.
*Represents basic qualifications for the position. To be considered for this position you must at least meet the basic qualifications.
City National Bank is an Equal Opportunity/Affirmative Action 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.