Manager Investment Oversight - City National Bank
New York, NY
About the Job
MANAGER INVESTMENT OVERSIGHT
WHAT IS THE OPPORTUNITY?
The Risk SVP will serve as the head of the Investment Risk function for City National Bank. The Risk SVP will develop, monitor and test the first line of defense's performance systems, quantitative analysis, and investment recommendations. The Risk SVP will be responsible for investment risk governance at all levels of CNB. This position is also responsible for 2LOD oversight and monitoring of CNB's 1LOD obligations, and will develop and implement an appropriate governance and monitoring program for the 1LOD as well as any functions that are housed in centralized compliance functions within the Bank or affiliates.Responsible for all aspects of Investment Risk within the Second Line of Defense. This includes staffing, budgeting, strategic planning, and providing guidance on operational issues. Participating member of investment management related committees, including the investment committee, best execution, liquidity, fair value, and conflicts committee. Provides reporting and credible challenge to committees as appropriate, including to the CNB Board.
What you will do
+ Provide professional guidance and credible challenge in senior management committees
+ Assess and monitor investment practices such as:
+ Appropriate mix of assets and investments that are consistent with client objectives
+ Asset allocation
+ Analysis of alternative investment and risk scenarios
+ Trade implementation and strategic rebalancing
+ Management of cash flow, reinvestment and liquidity requirements
+ Implement consistent metrics and risk management practices for the trading book and fiduciary managed accounts, with focuses on stress testing, internal risk, Volcker rule, and challenge of approved/watch lists of investments.
+ Analyze current investment risk functions and suggest enhancements and standardization, where appropriate.
+ Identify and recommend necessary changes to business unit procedures to address gaps or improve adherence to regulatory and firm requirements
+ Draft and revise policies based upon regulatory updates and industry best practices.
+ Monitor complaints, issues, new products and services for impact on investment risk.
+ Manage investment risk analysts.
Must-Have*
+ Master's Degree or CFA
+ Minimum 10 years of relevant work experience with investment risk, preferably in a Bank fiduciary environment.
+ Minimum 5 years senior experience with governance committees and structure.
Skills and Knowledge
+ In-depth knowledge of OCC rules, exam priorities, and enforcement trends
+ Strong coding skills with coding ability preferred
+ Excellent verbal and written communication skills, including presentations for senior executives and boards
+ Strong abilities in analytical thinking, problem solving, research, and time management
+ Must have excellent verbal communication and people skills
+ Successful candidates will be comfortable managing teams in a remote work environment that crosses time zones.
+ Knowledge of vendor systems such as Bloomberg, YieldBook, or MorningStar
+ Quantitative modeling expertise in Fixed Income Analytics, Monte-Carlo Simulation, Term Structure Models, Interest Rate Models, Option Pricing Models (Binomial Trees, Black-Scholes, Greeks etc.), Time Series, Relative Value, Numerical Methods, etc
Compensation
Starting base salary: $157,943 - $293,299 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 (https://image.emails.cnb.com/lib/fe5e15707c640c78771c/m/10/cbedd856-c2fc-491b-a625-3ab7a0fd9a65.pdf) .
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
We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to be at the heart of our company today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies
#LI-JR1
#CR-JR
WHAT IS THE OPPORTUNITY?
The Risk SVP will serve as the head of the Investment Risk function for City National Bank. The Risk SVP will develop, monitor and test the first line of defense's performance systems, quantitative analysis, and investment recommendations. The Risk SVP will be responsible for investment risk governance at all levels of CNB. This position is also responsible for 2LOD oversight and monitoring of CNB's 1LOD obligations, and will develop and implement an appropriate governance and monitoring program for the 1LOD as well as any functions that are housed in centralized compliance functions within the Bank or affiliates.Responsible for all aspects of Investment Risk within the Second Line of Defense. This includes staffing, budgeting, strategic planning, and providing guidance on operational issues. Participating member of investment management related committees, including the investment committee, best execution, liquidity, fair value, and conflicts committee. Provides reporting and credible challenge to committees as appropriate, including to the CNB Board.
What you will do
+ Provide professional guidance and credible challenge in senior management committees
+ Assess and monitor investment practices such as:
+ Appropriate mix of assets and investments that are consistent with client objectives
+ Asset allocation
+ Analysis of alternative investment and risk scenarios
+ Trade implementation and strategic rebalancing
+ Management of cash flow, reinvestment and liquidity requirements
+ Implement consistent metrics and risk management practices for the trading book and fiduciary managed accounts, with focuses on stress testing, internal risk, Volcker rule, and challenge of approved/watch lists of investments.
+ Analyze current investment risk functions and suggest enhancements and standardization, where appropriate.
+ Identify and recommend necessary changes to business unit procedures to address gaps or improve adherence to regulatory and firm requirements
+ Draft and revise policies based upon regulatory updates and industry best practices.
+ Monitor complaints, issues, new products and services for impact on investment risk.
+ Manage investment risk analysts.
Must-Have*
+ Master's Degree or CFA
+ Minimum 10 years of relevant work experience with investment risk, preferably in a Bank fiduciary environment.
+ Minimum 5 years senior experience with governance committees and structure.
Skills and Knowledge
+ In-depth knowledge of OCC rules, exam priorities, and enforcement trends
+ Strong coding skills with coding ability preferred
+ Excellent verbal and written communication skills, including presentations for senior executives and boards
+ Strong abilities in analytical thinking, problem solving, research, and time management
+ Must have excellent verbal communication and people skills
+ Successful candidates will be comfortable managing teams in a remote work environment that crosses time zones.
+ Knowledge of vendor systems such as Bloomberg, YieldBook, or MorningStar
+ Quantitative modeling expertise in Fixed Income Analytics, Monte-Carlo Simulation, Term Structure Models, Interest Rate Models, Option Pricing Models (Binomial Trees, Black-Scholes, Greeks etc.), Time Series, Relative Value, Numerical Methods, etc
Compensation
Starting base salary: $157,943 - $293,299 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 (https://image.emails.cnb.com/lib/fe5e15707c640c78771c/m/10/cbedd856-c2fc-491b-a625-3ab7a0fd9a65.pdf) .
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
We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to be at the heart of our company today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies
#LI-JR1
#CR-JR
Source : City National Bank