Job Description

City First Bank N.A. is a mission-driven Community Development Financial Institution (CDFI) principally focused on a transformative impact in underserved, urban markets with the highest needs to drive equitable economic development. Our lending activities are purely commercial and focused on the following segments: Multifamily Affordable Housing, Not-for-Profit Finance, and Small Business Finance. As a depository and commercial lending provider with over $1.2 billion in bank assets as of June 30, 2023, our unified organization has over 100 employees in Washington DC and Los Angeles/Inglewood, CA.

ROLE SUMMARY

The General Counsel & Chief Risk Officer (GC/CRO) will report directly to the CEO and will be a part of the Bank’s senior leadership team. The General Counsel & Chief Risk Officer plays a critical role in managing and safeguarding the organization's legal and risk management interests, contributing to its overall success and sustainability of the organization. Addressing legal and risk-related challenges is essential to the business: (i) managing legal risks, legal advice to senior leadership, and representing the organization in legal matters (including complex business transactions, M&A, regulatory filings and relations, investor communications, and so on), and (ii) overseeing and managing the risk management framework within City First Bank (CFB).

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

Enterprise Risk Management

Accountable for the execution and continued enhancement of the Bank's Enterprise Risk Management framework, including its risk appetite statement, risk identification, measurement, monitoring, mitigation, and related processes to achieve its short-term and long-term strategic, financial, and operational goals.

Develops a deep understanding of, and assists in informing, City First Bank’s business strategies and related policies, processes, and controls based upon its established risk parameters.

Leads the Bank’s culture of risk, serving as the primary risk liaison with its Board of Directors via the Risk Management Committee and with City First Bank’s leadership team.

Develops and enhances risk management-related infrastructure, including policies, processes, procedures, and documentation to continue supporting the Bank's growth and decision-making.

Serves as a liaison with regulators in connection with risk management-related exams responding to, and implementing, exam recommendations and findings.

Monitors external environment and industry trends and practices and makes recommendations to City First Bank’s leadership and Board of Directors, as appropriate.

Develops strong partnerships with leaders of various functional areas of responsibility within City First Bank to provide effective and credible challenge in assessing risk and to provide trusted practical advice and assistance in helping to support the Bank's strategic execution priorities and strategic business objectives.

Oversees the internal and external loan review audits (maintaining and managing risk assessment tools) for adequate loan portfolio management oversight, internal controls, and regulatory compliance and issues audit reports and compliance program status reports to Management and the Board Internal Asset Review Committee to ensure that the Bank's asset quality meets stated objectives, and that the emphasis of the Bank's overall credit relationship management is consistent with the Bank's underwriting standards and the Bank's risk appetite.

Oversees the internal and compliance audits (maintaining and managing risk assessment tools) the Bank’s operations for adequate internal controls and regulatory compliance and issues audit reports and compliance program status reports to Management and the Board Audit/Compliance Committee.

Prepares required regulatory and ongoing status reports to the Bank’s Board of Directors.

Oversees and supports regulatory compliance examinations and act as primary liaison for the regulators.

Serves as a role model for City First Bank’s Shared Values.

Other duties as assigned.

General Legal Oversight

Serve as a trusted adviser to the Chief Executive, the Board of Directors, and management team on a wide range of general management issues involving sensitive and complex legal matters.

Provides advice on the business and legal ramifications of significant company strategic imperatives, including acquisitions, real estate transactions, potential investments, fundings, and other corporate strategic and tactical initiatives.

Develop legal strategies and solutions for bank operation, including strategic planning purposes. Incumbent will be primary architect of the legal structure of the bank and its affiliates consistent with regulatory requirements, best practices, financial efficiency, but also in a manner to maximize opportunities for efficient capital, grants, federal contact and award opportunities and charitable investments.

As appropriate, consults, obtains, supervise and coordinate work of outside attorneys on sensitive legal issues relating to bank management, litigation, operations, portfolio workout, employee, or community and regulatory relations.

Draft and review, or supervise the drafting and review, of major contracts and related documents, including those with third party providers, federal or state agencies, client contracts, confidentiality and proprietary information, employment, and leases of space and equipment.

Handles the preparation of responses to all legal documents served on the Bank.

Manage copyrights and trademarks as well as corporate insurance matters in conjunction with the marketing and finance teams.

CDFI & Other Government Program Support

Participate in NMTC closing and unwind process to ensure transactions are structured properly, meet program requirements, and can be efficiently and effectively serviced by City First (working with outside attorneys/advisors reviewing legal documents such as loan agreements, operating agreements, and indemnification agreements).

Responsible for overseeing the review of CDFI Fund & NMTC systems, controls, monitoring and reporting programs and processes to ensure compliance to IRS, CDFI Fund, and other rules and regulations governing CDFI & NMTC program and underlying agreements.

Provide guidance and support for program reviews and/or audits undertaken by the CDFI Fund, IRS, GAO, or other governmental bodies.

Facilitate the development of appropriate structure, oversight, and controls for similar Federal or State programs that bank or its affiliates may later evaluate or undertake.

Serve as a subject matter expert in interpretation of legal structuring and compliance requirements for various agency programs, including various affordable housing financing, small business, or community development finance programs.

Capital Formation / Capital Markets Assistance

In collaboration with the Chief Executive, senior leadership, and outside advisors, participate in the design and execution of a comprehensive capital acquisition strategy to attract capital to support the Bank’s growth and mission execution, including the use of the nonprofit holding company to support the Bank’s expansion.

In collaboration with bank staff and outside advisers, develop and direct investor presentation offering materials, pitch books, shareholder presentations, and talking points for all fundraising activities.

Collaborate with senior leadership and outside advisors to monitor, understand and influence key philanthropic, banking, capital market, legislative and regulatory changes that may impact capital availability for the Bank and its mission execution.

Monitor and advocate on behalf of the bank and various affiliate groups on key external legislative issues and proposals that may impact capital availability for the bank, the communities it serves, and other key stakeholders.

Corporate Governance

Responsible for ensuring compliance with NASDAQ Stock market and SEC corporate governance and disclosure requirements.

Serve as an adviser to the Chief Executive and the Board of Directors on a wide range of general management issues related to corporate governance, best practices and board operation, overseeing and managing the Bank’s corporate governance program and its effectiveness.

Direct and assist the Corporate Secretary in the proper dispatch of his/her duties to provide corporate compliance and best practice with regard to effective and efficient board operation.

Performs such other duties as the CEO or Board of Directors may direct.

Requirements

EDUCATION & EXPERIENCE

Required Education/Experience:

4-year College Degree required in Accounting, Business, Finance, or related field.

10+ years of financial institution management experience, focused in risk management, credit, legal, compliance and/or internal audit, with increasing responsibilities for multi-faceted direction and planning.

Extensive experience working directly with regulatory agencies such as SEC, OCC, and FDIC.

Experience partnering with executive management/leadership and Board of Directors.

Law degree, admitted to practice as a member of the bar and 10+ years of legal experience, preferably initially with a national law firm, and subsequent in-house experience in the financial services industry, preferably with a regulated bank or thrift, investment firm, or in the public sector.

Exposure to and or familiarity with the following areas of the law: general corporate, securities, governance, capital formation, M&A, bank regulatory; loan and financial documentation

Excellent oral and verbal communication skills.

Experience with matters of corporate governance and corporate secretarial duties.

Experience in dealing with regulatory bodies within the financial services industries.

Knowledge of securities regulations and banking operations, laws, and regulations.

Strong reputation for integrity and ability to balance business partnership needs with the need to exercise good independent judgement to raise potentially sensitive issues in a timely and constructive manner.

Preferred Education/Experience:

Specific experience as a financial institution senior risk manager within a publicly traded bank with assets exceeding $1+ Billion.

KNOWLEDGE, SKILLS, AND ABILITIES REQUIRED

Entrepreneurial and resourceful.

Ability to work in a diverse, fast paced and dynamic environment.

Demonstrated commitment or affinity to working in underserved communities, experience in community development is a plus.

Salary Description

$225,000 - $250,000, annually

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