Manager, Balance Sheet Risk Model Validation
2 months ago
**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**
Manager, Balance Sheet Risk Model Validation
**What will you do?**
- Perform timely and effective validation of models in scope for Balance Sheet Risk as well as review of business oriented and qualitative/judgment-based methodologies, parameters, assumptions and models.
- Ensure that RBC’s Balance Sheet Risk frameworks and policies meet regulatory requirements and align with business strategies and industry best practices and that the validation and review activities are in compliance with all the relevant risk policies standards and procedures.
- Ensure that model stakeholders are aware and are compliant with methodology and model risk issues and limitations identified in validation reviews, as well as postproduction activities such as performance and limitation monitoring and outstanding issue resolution.
- Build replicating models to gauge model results, test model inputs, parameters and assumptions, stress test model performance and sensitivity, and perform other standard validation functions as required.
- Engage the methodology and model owners and users to pro-actively identify, assess, monitor and manage any risks that are either not modelled or otherwise managed and controlled.
- Manage stakeholder relationships (model and methodology owners / users / validation teams) to ensure validation findings and recommendations are appropriately informed by business purpose and context and to facilitate timely clarification of questions regarding model risk roles and responsibilities.
- Create work plans and track progress to ensure that work is being completed in accordance with committed timelines and regulatory deadlines.
- Keep abreast of industry trends and regulatory developments on model risk management in general and on modal validation in particular.
**Must-have**
- Advanced university degree in a financial or quantitative discipline (such as physics, mathematic, engineering, computer science, statistics, or financial engineering.
- Ability to learn quickly and to independently conduct research on best practices in new and unfamiliar modeling areas.
- Have a collaborative mind-set and superb interpersonal skills, verbal and written communication skills.
- Strong computational, analytical and critical thinking skills. Proficient in Excel and Programming (preferably Python).
**Nice-to-have**
- Relevant professional designations (CFA, FRM, etc.)
- Good understanding of bank’s businesses and balance sheet structure
- Previous experience in Balance Sheet Management, IRRBB and Liquidity Risk, and model governance would be an asset.
- Familiarity with QRM software
- At least 3 years of work experience in financial services industry and/or work relevant to mathematical modeling such as model development and validation.
**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
- 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.
- Flexible work/life balance options
**Job Summary**
What is the opportunity?
The Group Risk Management Balance Sheet Risk (GRM-BSR) team performs the second line of defense role for all balance sheet and liquidity risks at the enterprise level. As Manager, Balance Sheet Risk (BSR) Methodology Governance and Model Validation, you will be responsible for conducting independent oversight of methodologies, parameters, assumptions and models used for Balance Sheet Risk purposes, including Liquidity Risk, Asset Liability Management and Banking Book Risks. You will act as a trusted advisor and effective challenger to stakeholders on all matters pertaining to BSR methodology, parameter, assumptions and model risk.
**Address**:
TORONTO, Ontario, Canada
**City**:
CAN-ON-TORONTO
**Country**:
Canada
**Work hours/week**:
37.5
**Employment Type**:
Full time
**Platform**:
Group Risk Management
**Job Type**:
Regular
**Pay Type**:
Salaried
**Posted Date**:
2023-01-13-08:00
**Application Deadline**:
2023-01-29-08:00
**I**nclusion** and Equal Opportunity Employment**
At RBC, w
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