Director Business Affairs - City National Bank

DIRECTOR BUSINESS AFFAIRS

WHAT IS THE OPPORTUNITY?

This position provides overall management of significant City National Rochdale (CNR) projects on a firm-wide scale crossing multiple business units. Projects may cover a broad range of complexities and includes clients, prospects, territories, products, or internal relationships understanding the goals and strategic objectives of CNR. Influences timelines, project expectations, and proactively negotiates across departments and management to accomplish major milestones or delivery deadlines. Provides legal advice to CNR and ensures the firm operates in accordance with legal parameters. This position provides support across the scope of the firm's activities ensuring that legal issues, contracts, disputes, and complex regulatory and operational risk activities are conducted within the due diligence of the CNB legal and compliance framework. This position functions as a team manager, develops staff and manages deployment of resources.

What you will do

• Head of CNR Product Development Group. Develop, create, vet and implement/launch new products. Determine and execute the best business strategy for each product – factor in CNR and City National Bank (CNB) policies/rules, regulatory policies and regulations, applicable federal and state laws and coordinate with CNB in-house and outside counsel, Executive Management Team, Chief Investment Officer/Investment team, and WM New Product Committee.
• CNR Business Team Lead to CNR Mutual Fund Complex. Coordinate with all relevant business units (CNR Fund Administration and CNR Fund Chief Compliance Officer in particular), all third party vendors (i.e., Fund Administrators, Transfer Agents, etc.) and Fund Counsel on all regulatory, legal, compliance, and product development matters. Develop strategies and solutions and drive same through implementation.
• Through the President, perform lead role on strategic initiatives, business solutions/improvements, as well as ad hoc issues/day to day items.
• Partner with National Head of Sales and Business Development to identify and develop new business partners, or business channels. Explore each opportunity, develop and implement strategy and oversee team, and draft and negotiate agreements as needed (Envestnet, Hybrid Direct, MMLIS, Park Ave., Orion, etc.).
• Partner with National Head of Sales and Business Development to develop and implement a strategic framework to evaluate CNR business partners. Develop strategic approach and negotiate/draft resulting agreements with each partner or other ad hoc issues as they arise.
• Manage, oversee, and develop CNR relationships with current third party Broker Dealers (e.g., Park Ave., Cambridge, MML) and Platforms (e.g., AssetMark, SEI).
• In collaboration with CNB Legal and/or Compliance, provide legal counsel and guidance on legal matters to the Executive Management Team and business units relevant to the firm including but not limited to, regulatory provisions (e.g., FINRA, SEC, OCC, CCPA, GLBA), fiduciary duty standards, litigation, employment law, procedures, rules, contracts, tax matters, and insurance matters, and other laws and regulations.
• Negotiate, review, and revise third party engagements (i.e., contracts, leases, agreements and other legal documents) for CNR.
• As the CNR Business Lead, liaison and collaborate with outside counsel, as required, to obtain legal opinions or to handle claims, litigation, and/or other significant business objectives.
• Provide expert and strategic legal advice and develop corresponding solutions to Executive Management Team on new and existing laws related to CNR initiatives and business development.
• As the CNR Business Lead for all Operational Risk matters. Represent CNR in all Senior Wealth Management Risk Committee matters. Work with CNB Risk Officer to identify material risks, develop metrics to track those risks, and report to Executive Management Team as needed. Coordinate with CNB Risk Officer/Team as needed to resolve ad hoc issues. Responsible to oversee RCSA, BCP, BIA, AWA, VPN among others.
• As the CNR Business Lead to all CNB Internal Audit matters. Directs business unit responses to all relevant internal audits. Guide Audit through their reviews. Represents CNR business unit interests as Audit reviews and reaches conclusions.
• As the CNR Business Lead to all external audits obligations and/or issues (e.g., SOC1, FDICIA). Directs appropriate CNB teams and third party auditors and/or intermediaries to complete all audits and reviews.
• Coordinate with Wealth Management Chief Compliance Officer and CNR Chief Compliance Officer to develop best strategy and implanting sensible policies and procedures. Drive/execute on strategy to applicable portions of the business.
• CNR Business Lead to all CNB Vendor Management onboarding, reviews, audits, and CNB issued remediation plans.
• Reporting to Senior Managing Director Client Service/Operations. Lead Client Service and Operations strategic initiatives, business solutions/improvements, as well as ad hoc/and day to day items.
• Staff Management. Hire, terminate, develop, coach, and motivate colleagues. Identify staff development needs and provides appropriate opportunities personally or through leveraging internal or external resources.

Must-Have*

• Minimum 7 years of experience at a law firm (financial services practice), or in-house legal department of a financial institution. Investment Management Firm preferred
• Minimum 10 years of experience managing projects and working with senior leadership

Skills and Knowledge

• A J.D. and admission to the New York State Bar helpful 
• 10-15 years in a leadership role helpful
• 7-10 years of experience at a law firm (financial services practice), or in-house legal department of a financial institution. Investment Management Firm preferred
• Strong interpersonal and influencing skills – and ability to lead colleagues at all levels (above or below on an organization chart) in a peer-like way, and achieve goals without direct control over resources
• Strong emerging end-to-end problem solving skills, e.g., • Defining and deconstructing problems • Prioritizing issues and analysis • Structuring and building quantitative and qualitative/conceptual analysis
• Strong client/business-partner facing skills – ability to build and maintain relationships with counter parties, develop new business relationships, and implement through negotiation strategic changes with new or existing business partners
• Knowledge in: Financial Services, Project Management, Mutual Funds, Alternative Investments, Relevant Legal and Regulatory standards/guidelines
• Ability to manage a growing team of direct reports
• Independent thinking, problem solving and capacity to articulate and defend positions/conclusions even when differing from executive management
• Demonstrated ability to Influence change, build relationships, communicate effectively, work under pressure, manage multiple priorities and deliver high caliber results.
• Proficiency with MS Excel and PowerPoint
• Excellent time management, organizational, and prioritization skills and ability to balance multiple priorities.
• Diverse problem solving experience
• An outstanding ability to analyze problems, apply quantitative analytical approaches, communicate effectively and confidently (both oral and written), work well in cross-functional teams
• Quick learning ability, outstanding analytical skills and a structured way of thinking, your attention to details is exceptional
• Operate well under stress, even faced with tight time lines for ambitious deliverables
• Significant experience in driving operational change with front line to senior leadership personnel
• Excellent relationship and stakeholder management skills
• Be able to handle uncertainty well, and are able to simplify complexity

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