Chief Compliance Officer - BAM

Location

Santa Ana, CA | United States

Job description

Banc of California, Inc. (NYSE: BANC) is a bank holding company headquartered in Los Angeles with one wholly-owned banking subsidiary, Banc of California (the “bank”). Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services through more than 70 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more.

JOB SUMMARY:
Banc of California’s subsidiary, BancofCal Asset Management (“BAM”) is a Registered Investment Advisor (“RIA”). The Chief Compliance Officer (“CCO”) position is a Securities and Exchange Commission (“SEC”) designation, pursuant to the Investment Advisers Act of 1940, and reports directly to Banc of California’s SVP, Deputy Chief Risk Officer for appropriate segregation of duties. The CCO of BAM is responsible for developing, implementing and administering all aspects of BAM’s Compliance Management Program. This position plans, organizes, and controls BAM’s day-to-day and ongoing compliance related responsibilities and oversees compliance with all applicable laws and regulations as an RIA. This position will also assist in the operational administration of BAM as appropriate.
The CCO of BAM will develop, maintain BAM’s Compliance Management Program to provide reasonable assurance that operational controls are adequately implemented and operating as intended to comply with applicable federal and state regulatory requirements. This role will also provide guidance to related internal and external business partners and continually evolve the BAM Compliance Management Program. The CCO of BAM will formulate and administer necessary regulatory compliance training, including BAM new hire orientation.

• Maintains BAM’s Compliance Management Program and develops new policies and procedures, as required
• Designs, implements, provides compliance guidance, and executes monitoring and testing to ensure ongoing compliance with and effectiveness of BAM’s Compliance Management Program, which includes compliance with applicable securities laws and regulations
• Develops oversight activities that address risks related to investment advisory activities
• Develops proactive review of BAM activities to identify trends and anomalies
• Assists in the registration activities of the RIA, including, but not limited to, preparation and maintenance of Form ADV
• Creates appropriate RIA training curriculum and conducts training, as necessary
• Develops management reporting surrounding the operation of the RIA and compliance initiatives to assist in the management of regulatory risk
• Ensures timely identification, escalation and mitigation of any BAM related risk and/or compliance related issues
• Provides regular reporting to BAM’s Investment Committee and Board of Directors on compliance issues and activities
• Inputs and monitors clients’ investment policies requirements into Bloomberg and ensures that such requirements are properly reflected in Clearwater Analytics reporting tool
• Work with the Bank’s Legal, Compliance and IT teams with regards to BAM’s compliance with the Bank’s overall Compliance requirements
• Liaison to internal auditors, independent Service Organization Control (“SOC”) auditors, and SEC inquires and/or examinations
• Perform other duties as assigned.

Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation. If you require reasonable accommodation as part of the application process please contact Talent Acquisition Partner.

• Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following:
  Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Customer Information Program (CIP), Right to Financial Privacy Act (RFPA, state and federal) and Community Reinvestment Act (CRA)
• Required: At least 7-10 years of related experience consisting of in-depth background in bank or RIA administration and compliance
• Required: Bachelor’s degree or equivalent combination of education and experience
• Preferred:Educational experience through in-house training sessions, formal school or financial industry related curriculum
• Preferred: Master’s degree or higher

SALARY RANGE: $74,984.00 – 121,842.24; Exact compensation may vary based on skills, experience, and location. 

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