Associate Director – CUSO Governance & Controls and Structure Reporting

Royal Bank of Canada

New York, NY

Come Work with Us!

At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you’re helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title

Job Description

What will you do?

Support the Head of CUSO Reporting Governance & Controls in developing, implementing and executing the Governance & Controls requirements across U.S. Finance and CUSO Reporting functions.
Owns and support the preparation and submission of Structure reports on behalf of Royal Bank of Canada (RBC) to FRB
Responsible for ensuring execution of controls and governance process across the various stakeholders/work-streams to ensure consistency in methodologies, documentation and interpretation of regulatory guidance
Maintain the Regulatory Compliance Management (RCM) program for the U.S. Finance function
Assess and address impacts and gaps related to any ongoing business or regulatory changes
Provide independent challenge in partnership with Risk and Controls Group to control design and effectiveness and act as Center of Excellence supporting the business to improve its Operational Risk and related controls environment
Prepare and maintain policies and procedures and incorporate reviews by multiple stakeholders.
Review / maintain documentation of procedures, RCSA and governance for the reports
Work with stakeholders to develop key controls to adhere to regulatory requirements and vet regulatory mapping of policies and procedures and controls
Implement a process to ensure the ongoing accuracy of control descriptions and control owners in the RCSA Mapping and related policies and procedures.
Work with the functions to build out new processes or updates to existing processes to meet regulatory requirements and policy requirements.
Support business on updating procedures for new processes/controls.
Participate in change management initiatives (report, New Business Committee, or accounting) as they arise by ensuring that functions have performed regulatory analysis and interpretation at both the approval and implementation stages of a change.
Oversee the operation of effective and efficient processes that are aligned with RBC Operational Risk practices.
Monitor automation activities, process improvements and the development of new business requirements and ensure each conforms to the existing control environment
Manage and track the manual data collection processes and the development of controls to ensure completeness and accuracy across all regulatory reports
Collaborate with USDS, SDMO and Reports owners to provide Governance around Data Quality Management and represent the Reporting teams to assess, prioritize and implement fixes to data quality issues.
Track and Monitor the Regulatory Reporting Training program including ensuring that the training materials and participants are refreshed and kept up to date every year.
Collaborate with various functions ( Report Owners, USDS, CDO & EDGO etc.) to prepare for monthly and quarterly management/ committee packages
Manage/Prepare/Participate in the Finance & Regulatory Disclosure Committee (FRDC) and present statuses and/or escalate items requiring the committee’s approvals.
Interface with exam teams (both internal and external) and facilitate their understanding of reporting Governance & Controls including supporting processes

What do you need to succeed?

7 + years of experience in the financial services industry.
University Degree in Business, Accounting, Finance, Management Information Systems, Technology Political Science, Economics or Data Science
Broad comprehension of Capital Markets and Financial Services Industry functions and products
Experience in Structure reporting a plus.
Experience working with cross functional and cross department teams across various geographies
Strong Microsoft software Office skills (Excel, Word, PowerPoint, Visio)
Strong understanding of Federal Reserve Regulatory Reporting Requirements is a plus
Auditing background with experience in designing key controls to meet regulatory requirements.
Expert knowledge of compliance and operational risk policies and procedures preparation and regulatory rule interpretation.
Ability to understand and detect business control issues and assess their impacts on business goals and objectives.
Ability to work with large set of data to assess root causes on data quality issues and rationalize it for presentation to stakeholders for prioritization and remediation.
A proven collaborative approach to problem-solving, decision-making, consensus-building, and communication.
High degree of organizational awareness, personal initiative with a strong ability to manage productive relationships with business partners and stakeholders.
Ability to work independently and prioritize work while meeting multiple deadlines and are highly motivated.
Strong organizational skills and attention to detail.
Expert knowledge of governance, risk and control procedures, strategies & tactics.
Quick Learner and Ability to work in a fast-paced team environment
Excellent written and oral communication/presentation skills
Independent and critical thinker with desire to drive results by working in collaboration with functions across the firm.

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
Leaders who support your development through coaching and managing opportunities
Ability to make a difference and lasting impact
Work in a dynamic, collaborative, progressive, and high-performing team
Opportunities to do challenging work
Opportunities to building close relationships with clients

The good-faith expected salary range for the above position is $120,000 - $185,000 depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs.This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.

RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

· Drives RBC’s high performance culture

· Enables collective achievement of our strategic goals

· Generates sustainable shareholder returns and above market shareholder value

Job Summary

What is the Opportunity?
The CUSO Reporting Governance & Controls (RG&C) function is responsible to develop, implement and execute the Governance & Controls and its governing bodies (Working Groups, Finance and Regulatory Disclosure Committee) across all regulatory reports and ensures adherence to the Enterprise Data Management & Reporting Policy, U.S. Regulatory Reporting Standards, as well as the Operational Risk Internal Controls Management Policy.
•Regulatory Compliance/Regulatory Change Management - Assesses regulatory rule changes and industry practices, maintains a regulatory rule inventory and in conjunction with US GAAP Accounting Advisory team educates the reporting functions on new accounting standards, rules, and interpretations.
•Independent Testing of Controls - Monitors the testing of framework and act as Center of Excellence supporting the business to improve its Operational Risk and related controls environment.
•Issues Management & Reporting – Develops and owns the Issues Management process as well as reporting to senior management and Board for issues across U.S. Finance & CUSO reporting functions.
•Management of Policies, Procedure and Controls Libraries - Owns and manages updates to policies, procedures, and related controls working with process and report owners.
•Data Quality Management & Governance (DQ&G): Establish DQ&G processes for CUSO reports working with USDS and SDMO.
•Assumptions and Materiality Frameworks: Owns the development and maintenance of Assumptions and Materiality Standards across U.S. Finance Functions.
•Trainings: Ensures governance around development, distribution and tracking of Regulatory Reporting trainings completions across RBC functions.
•Structure Reporting: Owns the submission of structure reports to FRB.

Address:

New York, New York, United States of America

City:

USA-NJ-JERSEY CITY, USA-NY-NEW YORK

Country:

United States of America

Work hours/week:

Employment Type:

Full time

Platform:

Office of the CFO

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2023-02-28-08:00

Application Deadline:

2023-02-28-08:00

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.

We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.