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Director, model development

3 months ago

Cranbrook, Canada RBC Full time

Job Summary

The Director, Model Development is responsible for leading the development, implementation and maintenance of the credit risk models for RBC Caribbean Banking.The primary purpose of this role is to develop and enhance the methodology associated with the IFRS9 credit risk and stress testing models while ensuring the models meet regulatory requirements and allow for a holistic examination of bank vulnerabilities. Compliance is required with IFRS9 standards, regulatory guidelines, and internal policies. The incumbent also helps the team streamline processes and supports other functions such as data governance and reporting. As a credit modeling expert, you will assist senior management and the Board in understanding impaired losses and the underlying risk in the portfolio

Job Description

What is the opportunity?

The Director, Model Development is responsible for leading the development, implementation and maintenance of the credit risk models for RBC Caribbean Banking.The primary purpose of this role is to develop and enhance the methodology associated with the IFRS9 credit risk and stress testing models while ensuring the models meet regulatory requirements and allow for a holistic examination of bank vulnerabilities. Compliance is required with IFRS9 standards, regulatory guidelines, and internal policies. The incumbent also helps the team streamline processes and supports other functions such as data governance and reporting. As a credit modeling expert, you will assist senior management and the Board in understanding impaired losses and the underlying risk in the portfolio.

What will you do?

  • Developing IFRS9 loan loss provisioning and stress testing methodologies for wholesale and retail loan portfolios. Support researching, building, calibrating and documenting IFRS9 credit risk and stress testing models. Also, ensuring the models meet regulatory requirements and allow for a holistic examination of bank vulnerabilities.
  • Designing/enhancing and maintaining the model monitoring framework including validations, recalibrations, and re-development as required.
  • Developing IFRS9 model overlays and ad-hoc stress test analyses as requested by management or regulators.
  • SME on credit methodologies.
  • Design and oversight of controls around historical modeling datasets.
  • Support other team members in different aspects of risk management including stress testing, credit strategy, and credit scoring for originations and account management.
  • Assisting other work streams, such as Data Governance and Regulatory Reporting on tasks related to data exploration, data gathering and cleansing, data aggregation, data reconciliation for data coming from multiple data sources, and process automation.
  • Liaising with stakeholders - including senior management, enterprise model validation (EMRM) and internal and external audit - on topics related to modeling design and results.
  • Ensuring tailored approaches to timelines and data availability, utilizing detailed or 80/20 solutions, and quantitative and/or qualitative approaches, as appropriate.
  • Keep abreast of academic research, industry and regulatory practices with respect to stress testing modelling. Participate in industry conferences, studies and surveys of best stress testing practices.
  • Comply with all bank policies including SOX controls as appropriate.

What do you need to succeed?

Must-have

  • 7+ years of analytical experience with a financial institution with significant exposure to predictive modeling and advanced analytics using statistics and/or machine learning. Other industry experience will be considered based on applicability. Advanced knowledge and experience in credit risk methodologies and predictive models.
  • Ability to manage complex and challenging processes. In this position, you will develop models for wholesale and retail portfolios across the Caribbean; which involve several countries, banking entities and products. The analysis and reporting will feed into several financial statements across the region. Historical data can be in some cases limited, hence quantitative and qualitative approaches will be relevant.
  • Strong conceptual, analytical, and problem-solving skills.
  • Knowledge of a least two statistical/numerical software programs which must include either SAS and/or Python. Other software can include, R, Matlab, C++, VBA, Stata and/or E-Views (among others).
  • Knowledge of database structure and management (SQL, SAS, Hive, etc.).
  • Interest in working with data: data gathering, analyzing, aggregating, and automating different data-related activities.
  • Graduate degree in a quantitative discipline such as statistics, mathematics, math finance, economics, physics, engineering and/or a relevant professional qualification, with concentration in quantitative methods.

Nice-to-have

  • Working knowledge of Caribbean Banking.
  • Exposure to more than one of the following risk methodology areas is an asset: capital markets and trading, credit risk, structural interest rate risk, liquidity risk, and Basel capital measures.
  • Familiarity with RBCs existing data and infrastructure.

Whats 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.
  • Leaders who support your development through coaching and managing opportunities
  • Work in a dynamic, collaborative, progressive, and high-performing team
  • Opportunities to do challenging work.

Job Skills

Credit Analysis, Financial Regulation, Internal Auditing, Investment Risk Management, Market Risk, Operational Requirements, Operational Risks, Risk Management, Standard Operating Procedure (SOP)

Additional Job Details

Address:

ROYAL BANK PLAZA, 200 BAY ST:TORONTO

City:

TORONTO

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

Personal and Commercial Banking

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2024-06-19

Application Deadline:

2024-06-30

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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