Associate Director of Financial and Regulatory Advisory

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 is the Opportunity?
RBC US Group Holdings is a U.S. Intermediate Holding Company (IHC) subject to the Dodd Frank Regulation YY requirements. It is required to publish consolidated audited financial statements and regulatory filings with the Federal and local Regulators in accordance with U.S. GAAP. Additionally, the IHC has regulated subsidiaries within RBC’s combined U.S. operations (CUSO) that are also required to have financial statements filed in accordance with U.S. GAAP.
Misstatement in the presentation of financial and regulatory data is a material risk that attracts significant reputational risk and risk of action by our regulators that may impact our ability to conduct our business both locally and globally. Additionally, financial data is provided to RBC Head Office for inclusion in the global financial and regulatory reporting process and the CUSO entities must comply with RBC’s global standards for control, accounting, and regulatory reporting.

This role will be responsible for providing technical accounting expertise ensuring that the CUSO is in compliance with U.S. GAAP and IFRS. The individual will collaborate with business leaders and other functional areas including RBC’s accounting policy group (APG) to provide technical accounting guidance on strategic business transactions, develop accounting position papers, and determine appropriate conclusions.
This role is also responsible for providing guidance to the businesses and reporting functions on the interpretation of instructions, rules, and regulations published by various U.S. regulatory agencies to ensure consistent application and standardized documentation for regulatory reporting across the CUSO.
The role will report to the Head of U.S. IHC Financial Reporting and Advisory (U.S. FRA) and will ensure operational effectiveness in compliance with the reporting policy.

What will you do?

• Responsible for providing U.S. GAAP guidance to CUSO legal entity controllers on all accounting matters (25%).
  • Stay current on changes to accounting standards, SEC guidance and PCAOB regulations.
  • Compile and publish a quarterly U.S. GAAP accounting update for the region summarizing new and proposed accounting pronouncements and their impact to the CUSO.
• Accountable for communication, consistency, and coordination with APG on implementation of U.S. GAAP and IFRS standards (25%).
  • Overall coordination with APG ensuring U.S. GAAP standards are correctly implemented.
  • Assist APG in researching U.S. GAAP literature relating to new accounting standards.
  • Consult, review, and provide input or consultation to APG on accounting policies in the form of Corporate Accounting Policy Manuals (CAPMs) and white papers.
  • Provide U.S. GAAP interpretive support for CAPMs revisions in coordination with APG as required.
  • In coordination with APG, ensure consistency of application of CAPM to entities required to report under U.S. GAAP; and
  • In coordination with APG, when required, perform training to local finance teams and U.S. businesses on new U.S. GAAP standards.
• Review, contribute, and generate (when appropriate) U.S. GAAP accounting analysis inclusive of regulatory impacts for New Business Committee (NBC) / Project Approval Request (PAR) in coordination with Financial Control (30%).
  • Chair the U.S. Finance New Business Committee working group and inform U.S. senior management on impact of new NBCs/PARs.
  • Drive collaboration with business units and corporate functions in relation to new products/transactions to identify and resolve all accounting and regulatory issues
• Primary contact for U.S. finance related regulations to advise business units and functions in assessing impact and consistent applicability of U.S. Regulatory guidance, standards, rules, and instructions (20%).
  • Ensure there is sufficient documentation available to support internal audit and regulatory supervisory review and challenge for the rule, guidance, and instructions interpretation.
  • Participate in training and publication efforts related to regulatory reporting.
  • Monitor emerging U.S. regulatory issues through the interaction with various industry groups, liaison with certain standard setters and regulatory bodies, and discussions within RBC.
  • This role will periodically coordinate discussion on complex areas with external auditors and regulators as applicable; and
  • Chair the CUSO Regulatory Interpretations working group and ensure a collective understanding around U.S. regulatory interpretations with the various functional groups.
  • Financial statement and regulatory reports misstatement carry high reputational risk and the ability to do business in the U.S.
  • This role has authority to identify and report on control weaknesses, specifically impacting data quality, and enforce the remediation in financial statements and regulatory reporting production process
  • Partner with sponsors, stakeholders and managers to drive strategic initiatives

What do you need to succeed?

• 8-10 years of relevant experience in Financial Services with focus on technical accounting and regulatory reporting policy
• CPA with Big 4 experience is preferred
• Experience in financial and/or capital analysis in a global investment bank or finance industry
• Experience with senior management and committee level reporting
• Experience in and understanding of US regulatory reporting environment
• Broad understanding of Capital Markets, Retail Banking, and Wealth Management
• Proficiency in Microsoft Excel, Word, and PowerPoint
• Bachelor’s degree in Finance or Accounting
• Regulatory Reporting and CCAR experience preferred
• Excellent communication and facilitation skills
• Self-motivated and able to perform with minimum supervision
• Strong interpersonal skills and ability to work effectively across multiple functions

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

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

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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.
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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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