Description
FAIR BANKING COMPLIANCE OFFICER
WHAT IS THE OPPORTUNITY?
The Fair Banking Compliance Officer is responsible for assessing risks related to unfair, deceptive, and abusive acts and practices (UDAP/UDAAP) and Fair Lending (FL) across the Bank's products and services, including its affiliates, specifically focused on deposits and consumer lending. This role involves providing guidance to assigned lines of business, analyzing decision-making processes, and evaluating procedures to identify and mitigate compliance risks that impact clients and their accounts. Once risks are identified, the Compliance Officer collaborates with the line of business to address them effectively. Additionally, This position requires a strong understanding of the compliance laws and regulations as they apply to a federal financial institution, as well as expertise in banking operations as it pertains to client accounts.
Compliance Risk Management Division
This is a great opportunity to grow your career with a stable and expanding organization as a member of the Fair and Responsible Banking Department within City National's Compliance Risk Management team. The focus is on ensuring business activities remain safe, compliant and well-positioned for future opportunity and sustainable growth.
WHAT WILL YOU DO?
- Partner and provide FL/UDAAP guidance to the assigned lending and/or deposit lines of business in the review, development, and implementation, of new or changed products, services, and systems, including marketing.
- Partner with the business units to create workflows and internal control documentation to assist in implementation and understanding of processes as they relate to their specific area of responsibility.
- Work with Corporate Compliance colleagues to include reviews performed by the Compliance Officer are incorporated into applicable risk assessments.
- Partner with business/operations units to remediate FL/UDAAP risk identified in internal and external examinations.
- Apply both technical and general business knowledge to resolve the issues in assigned function.
- Integrates activities with other departments to accomplish common goals.
- Consult with the business units' compliance officers or other management as to any deficiencies, and monitor to ensure that required changes are made.
- Perform Fair Lending/UDAAP qualitative analyses for assigned lines of business.
- Work to ensure that products and services provided by the Bank and its affiliates do not create a potential for FL/UDAAP or regulatory violations.
- Maintain up-to-date knowledge of Bank policies, procedures and industry best practices.
- Develop and uses sound diagnostic and analytical processes that will identify risk.
- Work with all levels of the company regarding the assessment of risk and corrective action plan, if needed.
- Identify and address training needs by partnering with business areas and Compliance Training Manager.
WHAT DO YOU NEED TO SUCCEED
Must-Have*
- Bachelor's Degree or Equivalent Experience.
- Minimum 5 years of experience in Compliance or Operations analysis roles that work closely with the Compliance area.
- Minimum 3 years of experience with writing policies and procedures and implementing changes to programs.
- Minimum 3 years of experience with developing and implementing changes to processes.
Skills and Knowledge
- Must understand UDAP and UDAAP as they relate to the deposit line of business.
- Must understand Fair Lending, UDAP, and UDAAP as it relates to consumer lending.
- Must be able to write analyses, reports and correspondence, in a clear and concise manner.
- Educational experience, through in-house training sessions, formal school, or financial industry related curriculum, should be applicable to the financial industry preferred.
- Exceptional oral and interpersonal communication skills.
- Ability to apply common sense to carry out instructions and instruct others, interpret documents, understand procedures, speak clearly to customers and employees.
- Highly developed analytical and diagnostic skills that allow the colleague to assess all areas of the company whether the colleague does or does not have specific expertise in that area.
- Ability to work with no supervision while performing duties.
- Must be able to perform this position safely, without endangering the health or safety to himself or herself or others.
Compensation
Starting base salary: $92,114 - $156,880 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. Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks. 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
City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.* In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.
*City National Bank does business in Miami and the state of Florida as CN Bank.
For more information about City National, visit cnb.com.
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