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Chief Compliance Officer

Los Angeles, CA, USA | The Muse

  • Industry:
    Internet / Online Media
  • Position Type:
  • Functions:
    Legal / Compliance
  • Experience:
Job Description:
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Against this backdrop, RBC and City National seek a Chief Compliance Officer (CCO), reporting to the RBC U.S. Chief Compliance Officer, who will be responsible for driving and overseeing an enterprise compliance program within the Bank that is integrated and aligned with the rest of RBC's Combined US Operations. In addition, the CCO will also report to the City National Chief Risk Officer (CRO) and will be responsible for partnering with the CRO to satisfy the Bank's compliance risk management obligations under the OCC's Guidelines on Heightened Standards for Large Financial Institutions .

The CCO will be a proven leader responsible for leading a sizeable compliance team, organizing the Bank Compliance function, recruiting staff, identifying and communicating laws and regulations applicable to the Bank's businesses, including its broker/dealer and investment advisory subsidiaries and affiliates; establishing training programs for applicable laws, regulations, Bank policies and procedures; collecting and analyzing corporate compliance data; monitoring results; providing feedback to business units regarding their compliance activities; and reporting to senior management and the Audit Committee of the Bank's board of directors. In addition, the CCO will act as a liaison with the Bank's regulators in connection with regulatory compliance matters.

The position has significant interaction with many different groups within the Bank and the CUSO, especially coordinating with the General Counsel, the Chief Financial Officer, Chief Internal Auditor, and peer Compliance Group Heads of other RBC businesses.

The successful candidate will bring a balanced and pragmatic risk-reward perspective that allows for effective partnership with senior management in reaching business goals. This includes being comfortable constructively challenging business leaders' thinking to ensure that the Bank achieves its risk management, operational and commercial performance objectives.

Culturally, the CCO will be a leader who is approachable, collaborative and transparent. Passionate about the development of people and teams, the CCO will continuously identify opportunities to provide top talent, improve processes, and leverage technology in the advancement of their team and their capabilities.

General Accountabilities

The CCO will be responsible for planning, organizing and leading the implementation of the Bank compliance plan as well as recruiting, hiring, training, developing and motivating employees.

Oversee the RBC enterprise compliance risk assessments of City National inherent risk and control environment. Analyzes and evaluates compliance risks and recommends changes to policies and procedures.

Develop, implement, and manage a compliance monitoring program, ensuring there are sufficient internal controls to promote an effective control environment. Prioritize focus toward areas identified as having the highest levels of risk.

Assist in promoting a corporate culture which makes compliance a top priority.

Identify and mitigates compliance risks proactively and positioning the Bank as a strong compliance.

Providing effective challenge and advice to the 1 st line of Defense on compliance risks, processes, and controls.

Contribute to building a best-in-class compliance management program that meets the needs of the CUSO's and Bank's continued growth and strong commitment to compliance.

Anticipate and ensure that applicable laws, regulations, policies and procedures are communicated to business units.

Establish compliance policies and recommend procedures.

Establish compliance job specific training for officers and employees.

Monitor implementation of compliance policies and procedures.

Partner with business units to remediate compliance findings identified in internal and external examinations and audits.

Identifies and addresses compliance training needs by partnering with business areas and Compliance Training Manager.

Integrates activities with the CUSO and other departments to accomplish common goals.

Maintains up-to-date knowledge of Bank policies, procedures and industry best practices.

Provide leadership in coordinating compliance issues with other RBC businesses and affiliates to assure efficient operations as well as full compliance.

Interface with the OCC and other regulators and coordinate compliance examinations.

Acting as a Bank Compliance representative on applicable City National and RBC management committees and forums.

Maintains awareness of federal/state laws and regulations and the organization's policies and procedures

Maintains effective working relationships with regulators, trade associations, other financial companies and other offices within the company

Ensures that current processes are regularly evaluated for best practice approaches

Elevate issues to RBC US Chief Compliance Officer's and the City National Chief Risk Officer's attention and when appropriate for further reporting to senior management and the Bank board of directors.

Job Knowledge

Strong technical knowledge of banking and wealth management business.

Knowledge of federal statutory and regulatory framework, including key consumer and wealth management regulations (e.g., Truth-in-Lending Act, Truth-in-Savings Act, Home Mortgage Disclosure Act, Equal Credit Opportunity Act, Fair Housing Act, Real Estate Settlement Procedures Act, Electronic Funds Transfer Act, Community Reinvestment Act, Federal Trade Commission Act, OCC guidelines and regulations on predatory and abusive lending, privacy, complaint management, cash management, anti-money laundering and other suspicious activities, as well as FINRA, SEC and MSRB rules)

Ability to influence/motivate others to produce desired results.

Ability to operate effectively in fast paced environment.

Well-established reputation and relationships with regulators.

Strong ability to work in a complex team environment requiring exceptional communication and organizational skills.

Leadership experience in enhancing/managing a compliance risk management program in a fast-growth environment.

Working knowledge of bank technology and operating systems.

Experience in large project management

Extensive knowledge of compliance and regulatory concepts, practices and methodologies.

Extensive knowledge of risk management principles and practices

Applicants must have the highest ethical standards, excellent judgment, a sense of personal initiative, excellent oral and written communications skills, the ability to work independently while keeping management apprised of his/her undertakings, and the ability to interact well and constructively with colleagues at all levels of the organization in both one-on-one and multidisciplinary team situations.


Prior experience leading a Compliance function and strong academic credentials are required, with an undergraduate degree from a nationally respected institution considered highly desirable. A graduate degree, ideally an MBA or JD, will be considered a strong plus.

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