Associate Director, Market & Counterparty Credit Risk

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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

Associate Director, Market & Counterparty Credit Risk

Job Description

What is the Opportunity?

The Market & Counterparty Credit Risk (MCCR) group is responsible for defining and implementing an effective risk framework and governance structure for RBC & its subsidiaries (specifically City National Bank (CNB)) and the combined U.S. operations of RBC. RBC is seeking a strong candidate to join its MCCR team, specifically for City National Bank's OCC Heightened Standard compliance. In particular, the incumbent's core responsibilities is to create governance framework, create/update MCCR policies/procedures & buildout, coordination, and maintenance of the Supporting Documentation.

What will you do?

• Create CCR governance framework & create/update CCR policies/procedures (40%)
• Understand the current state CCR governance framework and end-to-end CCR process for both RBC & CNB.
• Identify the gaps in CNB governance framework/polices & procedures based on OCC Heightened Standards & RBC process/documentation.
• Partnering with appropriate subject matter experts, create the Target Operating Model for CNB CCR activities.
• Create the detailed governance framework, documenting detailed role & responsibilities and governance & control for CCR activities.
• Create/update policies/procedures & other supporting documentation
• Understand the current state market risk governance framework and end-to-end market risk process for both RBC & CNB; perform the gap analysis against Heightened Standards and update/enhance the market risk governance framework & market risk policies/procedures & other supporting documentation (20%)
• Serve as a liaison between CNB Front line units, CNB Risk management & RBC Risk management teams to drive an effective working collaboration (15%).
• Assist in gap assessment, issue identification, remediation plan creation and track improvements (10%)
• Provide support for risk & control Self-assessment, internal audit & regulatory exams, as needed (10%).
• Assist with various Review & Challenge meetings, Committee meetings, Regulatory meetings by preparing presentations and tracking deliverables and follow-up items (10%)
• Review supervisory guidance and industry news to identify OCC & other regulatory requirements, best practices, and trends (5%).
• Identifying process weakness, undertaking lessons learnt reviews, highlighting risks and supporting resolution

What do you need to succeed?

• Bachelor's Degree
• 7-10 years' experience either in risk management, capital management, finance, or project management at a financial institution, working for a regulatory agency, or as an auditor or consultant for banking clients.
• Writing and analytical capabilities commensurate with independent production of management-ready documentation work products.
• Detail-oriented and able to facilitate development of firm-wide risk management framework
• Strong abilities in Microsoft Office suite (Excel, PowerPoint, Word).
• Strong data analytic skills, verbal and written communication skills;
• Autonomous & highly motivated with ability to multi-task productively and work independently and collaboratively;
• Ability to accept accountability, assume leadership and demonstrate initiative;

Other Required Qualifications:

• Understanding of counterparty credit exposure , stress testing and underlying analytics
• Knowledge of trading products and associated risk measures

Suggested Qualifications:

• Knowledge of Programming Language (Python, R)
• Knowledge of Market & Counterparty Risk Modelling

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 $110,000 - $190,000 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

The Market & Counterparty Credit Risk (MCCR) group is responsible for defining and implementing an effective risk framework and governance structure for RBC & its subsidiaries (specifically City National Bank (CNB)) and the combined U.S. operations of RBC. RBC is seeking a strong candidate to join its MCCR team, specifically for City National Bank's OCC Heightened Standard compliance. In particular, the incumbent's core responsibilities is to create governance framework, create/update MCCR policies/procedures & buildout, coordination, and maintenance of the Supporting Documentation

Address:

New York, New York, United States of America

City:

USA-NY-NEW YORK

Country:

United States of America

Work hours/week:

40

Employment Type:

Full time

Platform:

Group Risk Management

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2023-03-24

Application Deadline:

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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