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MANAGER OPERATIONAL RISK MANAGEMENT OVERSIGHT

WHAT IS THE OPPORTUNITY?

Operational Risk Management (ORM) is responsible for providing independent and objective oversight of the management of risks arising from City National Bank's business processes, people, systems or external events. The Manager Operational Risk Business Oversight (ORBO) is responsible for providing advisory and oversight to the lines of business (LOB), Enterprise Control Functions (ECFs), and the Chief Controls Office, with a particular focus on strengthening operational risk management efforts in the first line of defense (1LOD) to support decision-making. This high-profile role will lead business aligned oversight teams with responsibility for providing independent perspective and challenge to executives and senior leaders through engagement in key 1LOD ORM governance routines. The Manager ORBO provides practical guidance, functional expertise, strategic direction, and execution rigor by supporting and advising on the implementation of ORM programs and capabilities to effectively manage operational risk exposures manifested by the business and its operations. This position provides an excellent opportunity to strengthen the operational risk management framework, which includes risk identification and assessment; risk measurement; risk controls; and risk monitoring and reporting to improve operational resilience.

What you will do

• Support the development of strong risk culture, risk conduct, and risk literacy

• Lead the second line of defense (2LOD) business aligned ORBO team(s) in the execution of ORM framework key risk activities, including monitoring compliance with ORM requirements, and objectively assessing the quality and sufficiency of 1LOD risk management activities and the soundness of their outputs. Oversight activities result in reporting, challenge, and escalation to management and governance committees

• Understand material existing and emerging risks which align with business or function processes to ensure operation within risk appetite and fair representation of the operational risk profile

• Review, challenge and monitor 1LOD risk appetite and key indicators, and their performance to risk appetite levels

• Review and challenge whether 1LOD strategic priorities sufficiently consider the full spectrum of risks, and whether all risks have been adequately assessed across all strategic priorities

• Provide advisory, oversight, and challenge to 1LOD development and implementation of business processes, procedures, and controls to adhere to operational risk governance requirements

• Review and challenge 1LOD risk acceptances and new business initiatives

• Provide advisory, oversight, and challenge over key operational risk program activities including but not limited to 1LOD output of risk identification assessments and scenario analysis, Risk and Control Self Assessments (RCSA's), Key Risk Indicators (KRI's), material existing and emerging exposures, events reporting, and issue resolution

• Credibly challenge 1LOD risk monitoring and reporting and related protocols, in conjunction with risk type teams, including metric trigger explanations and associated action plans

• Review and challenge 1LOD annual testing and monitoring plans, the adequacy of control management activities and assessment results, and risk mitigation strategies to address gaps in control design or operating effectiveness

• Review and challenge 1LOD issue identification and escalation, including challenge of issue ratings, corrective action plans, due date extensions, and thematic issues in accordance with the CNB Issue Management Policy

• Influence and monitor progress of action plans to improve the risk and control environment arising from risk assessments, risk monitoring, internal and external events, and regulatory exams

• Contribute to critical governance structures to include senior management risk committees

• Effectively advise, help and support [business/function] management with an informed and valuable risk and control perspective

• Foster strong working relationships with 1LOD stakeholders, 2LOD risk type and capability teams, and Internal Audit across disciplines in support of an effective risk management practice and strong control environment

• Support and facilitate audit and exam activities

• Develop expertise in relevant Royal Bank of Canada (parent) and City National Bank policies and procedures and from time to time, assist in their enhancement

• Build and grow risk talent in the organization through coaching, performance management, and training

• Develop and execute an aligned talent strategy that includes strategic hiring to build a high performing team

Must-Have*

• Bachelor's Degree or equivalent

• Minimum 15 years of experience in a large or mid-tier banking environment

• Minimum 10 years of experience in risk management, operational risk management, compliance, or audit functions in the financial services industry

• Minimum 7 years of people leadership experience

Skills and Knowledge

• Bachelor's degree or higher and other professional qualifications such as CPA, CIA, etc.

• Deep understanding of three lines of defense risk management structure and requirements

• Understanding of other operational risk programs including 1LOD led programs that have major implications on the enterprise risk profile such as information security, resiliency, privacy, technology, compliance, fraud, business continuity, third party, data, model, and others

• Deep understanding of relevant laws rules and regulations related to [business or function]

• Experience being examined by the OCC and CFPB, engaging with and presenting to regulators, as well as on-going relationship management

• Track record of successfully overseeing complex large-scale transformation programs ideally including regulatory remediation programs at peer institutions

• Strong interpersonal, verbal, and written communication skills

• Project management or change initiative leadership experience

• Demonstrated ability to think critically and facilitate change through collaborative effort.

• Self-motivation, discipline, task focus, the ability to structure and present work and a proven record of delivering high quality results within strict deadlines.

• Ability to multitask and prioritize several concurrent initiatives

• Demonstrated ability to think strategically and apply creative solutions

• Demonstrated ability to interact effectively internally and externally at executive management levels

• Talented people leader with proven track record of attracting, retaining, and developing team members

• Additional related education and/or work experience preferred

• Risk Management certification(s)

Compensation

Starting base salary: $0 - $0 per hour. Exact compensation may vary based on skills, experience, and location.

*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.

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.

EQUAL OPPORTUNITY EMPLOYER & REASONABLE ACCOMMODATION

City National Bank is an equal opportunity employer committed to promoting and maintaining a diverse, equitable and inclusive working environment where differences are valued and encouraged. 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 the laws or regulations in the locations where we operate or in our Code of Conduct. READ MORE

If you are a qualified individual with a disability or a disabled veteran, you have the right to request a reasonable accommodation for any part of the employment process. Please contact us via email or leave a message at (213) 673-9139. These contact methods are dedicated to applicants whose disability prevents them from successfully applying online. Only messages left for this purpose will be returned. Responses may take up to two business days.

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