Chief Fiduciary Officer WM

City National Bank • Los Angeles, CA

99d • $195,995 - $364,003

About The Position

The Chief Fiduciary Officer provides strategic direction and oversight for the bank's trust and fiduciary operations. This role works with executive management within the Wealth Management Division to balance prudent risk management, regulatory oversight, business development, and client relationship management. The position requires a deep understanding of fiduciary law, risk management, regulatory compliance, and investment oversight.

Requirements

• Bachelor's Degree or equivalent.
• Minimum 10 years of experience in trust and estate administration, fiduciary risk management, and regulatory compliance within a bank or wealth management firm.
• Minimum 5 years of experience in a senior leadership role.
• Minimum 5 years of experience with 12 CFR Part 9 and other federal and state laws governing fiduciary activities.

Nice To Haves

• JD, MBA or other advanced degree preferred.
• 10 years in a role requiring complex problem solving.
• Deep understanding of relevant laws, rules and regulations related to Investment Management and Fiduciary activities.
• Investment management experience (Broker/Dealer (FINRA) and RIA (SEC) required.
• Strong interpersonal, verbal and written communication skills.
• Project management or change initiative leadership experience.
• Ability to multitask and prioritize several concurrent initiatives.
• Demonstrate ability to think strategically and apply creative solutions.
• Demonstrate ability to interact effectively internally and externally at executive management levels.
• Demonstrated ability to influence change, build relationships, communicate effectively, work under pressure, manage multiple priorities and deliver high caliber results.

Responsibilities

• Oversee all fiduciary activities to ensure compliance with 12 CFR Part 9, including requirements for fiduciary administration, policies and procedures, audits, recordkeeping, and managing conflicts of interest.
• Develop, implement, and maintain the bank's written fiduciary policies and procedures as required by 12 CFR 9.5, including guidelines on brokerage practices, preventing self-dealing, and managing fiduciary assets.
• Manage the administration of all trust and fiduciary accounts, including regular reviews as stipulated by 12 CFR 9.6, overseeing documentation, asset valuations, and appropriate investment strategies for each account.
• Direct and coordinate the annual internal or external audit of fiduciary activities, presenting the results and any corrective actions to the board of directors.
• Serve as the primary point of contact for regulatory examinations related to fiduciary operations.
• Identify, measure, monitor, and control the risks inherent in the bank's fiduciary activities, including conflicts of interest, self-dealing, and compliance failures.
• Assist with regulatory examinations, internal audits, and external reviews focusing on cross-functional horizontal assessments of PBWM activities.
• Build and sustain effective relationships across business lines, risk management, compliance, and other support functions to drive operational success.
• Provide oversight relating to reporting packages created for reporting to the CNB Wealth Management Fiduciary Committee.
• Serve in a leadership capacity to ensure appropriate cross-business collaboration and coordination to enhance efficiencies and risk mitigation activities across PBWM BUs.
• Assist with cultivating and developing talent within PBWM by fostering a culture of coaching, mentorship, and professional development.
• Provide leadership and development opportunities to enhance the expertise and capabilities of PB WM leaders.
• Promote a culture of accountability, integrity, and transparency across PBWM teams.

Benefits

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date.
• Generous 401(k) company matching contribution.
• Career Development through Tuition Reimbursement and other internal upskilling and training resources.
• Valued Time Away benefits including vacation, sick and volunteer time.
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs.
• Career Mobility support from a dedicated recruitment team.
• Colleague Resource Groups to support networking and community engagement.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees