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Senior Director, Risk Management and Portfolio Optimization

2 months ago

Toronto, Ontario, Canada Royal Bank of Canada Full time

Job Summary

The Senior Director, Risk Management and Portfolio Optimization will lead the development and deployment of a comprehensive risk management approach for the Retail Credit Cards business at Royal Bank of Canada. This role will be responsible for increasing shareholder value by growing the portfolio through the acquisition of profitable accounts and the effective management of the existing book of business.

The ideal candidate will be responsible for managing Credit Losses for the Retail Credit Card business in keeping with the Bank's risk appetite, in addition to leading a team in developing strategies that ensure the credit quality of new accounts and promote growth and retention of existing accounts while optimizing the balance between risk, reward, and operational efficiency within risk appetite.

Key Responsibilities

  • Manage a team, including 2 Directors, to optimize profitability of the Cards portfolio through the design, implementation, and monitoring of effective risk strategies and policies across origination and account management activities.
  • Support the business targets for profitable growth while ensuring appropriate risk mitigation strategies are in place to maintain overall portfolio quality and to manage PCL within risk appetite.
  • Develop and maintain NPV strategies for the Credit Card Portfolio.
  • Develop new segmentation techniques to improve portfolio profitability.
  • Enhance portfolio insight and management decision-making through the use of leading-edge analytics, methods, and tools to measure the current health of the portfolio and for early detection of opportunities, trends, and anomalies.
  • Support the development and maintenance of the data infrastructure as it relates to the Credit Card portfolio.
  • Provide clear, concise, and insightful portfolio reporting to senior management on all relevant matters related to portfolio quality.
  • Continuously review credit processes and make recommendations for enhancements.
  • Work closely with other PMCS leaders to share and leverage insights across the team, creating a client-centric perspective.

Requirements

  • Strong experience in risk management, with a sound understanding of the Credit Cards business, including product economics.
  • Minimum 7 years' experience in financial services, having recent senior-level positions, and a full awareness of the strategic issues and opportunities facing the industry.
  • Deep knowledge of advanced statistical tools as well as an ability to use these tools effectively in credit strategies.
  • Deep knowledge of optimization solutions, trading off various objectives (KPIs) within a constrained environment.
  • Strong analytical skills with the ability to interpret data, innovate, and make strategic decisions.
  • Ability to generate unique, actionable insights and recommendations from analytics and use strong presentation skills to develop a compelling business case for senior management.
  • Have good understanding of Capital, ROE, and implications to underwriting and credit strategy.
  • Experience in developing a Test & Learn Environment and knowledge of designing and executing comprehensive Foundational Testing.
  • Strong people management skills with a proven ability to lead a team of highly talented individuals and deliver results.
  • Demonstrate strategic business sense and thought leadership to come up with unique ideas to enhance portfolio profitability and improve risk management.
  • Strong knowledge of the various credit card acquisition channels and the unique risks associated with each.

Preferred Qualifications

  • Extensive experience in Credit Card risk management with application processing and credit scoring platforms.

What We Offer

  • 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.
  • A world-class training program in financial services.
  • Flexible work/life balance options.
  • Opportunities to do challenging work.
  • Opportunities to take on progressively greater accountabilities.
  • Opportunities to build close relationships with clients.
  • Access to a variety of job opportunities across business and geographies.