Senior Manager, P&CB Finance – Regional Banking

3 days ago

Toronto, Ontario, Canada Royal Bank of Canada Full time

Job Summary

Job Description

What is the Opportunity?

The Senior Manager, P&CB Finance – Regional Banking plays a pivotal role in supporting the Regional Banking team in achieving exceptional business performance. This individual is jointly accountable for delivering superior business results by providing strategic, proactive analysis and advice on financial outcomes. They will lead the National Income and Expense (NIE) / Full-Time Equivalent (FTE) processes, including the Five-Year Outlook, annual planning, ongoing forecasts, T-5 estimates, and monthly monitoring of NIE/FTE results.

This Strategic Financial Leader will play a key role on the Regional Banking Finance team, providing analysis and advice on the impact of national strategic initiatives and results. They will serve as a primary liaison with P&CB Platform Performance Management and be responsible for the management of total Regional Banking financial performance through the delivery of meaningful and actionable financial information and insight.

This position adds value by providing information and gap analysis on monthly financial results and supports Retail & Business Distribution Strategy & Performance leaders by providing advice on trends impacting performance and recommendations on action plans to seize greater opportunity or reduce gaps.

Key Responsibilities

  • Proactively provides expert analysis and advice to the Executive Vice President (EVP) of Regional Banking through reporting and national insights for total Regional Banking NIE, including providing key information and ongoing advice to enable management decision-making and establish action plans to maximize financial performance.
  • Acts as the lead for Regional Banking financials as part of the Five-Year Outlook, partnering with Regional Banking Support management teams to determine both NIE & FTE outlook, ensuring that rationale for any increases are clearly articulated and available to Line of Business (LOB) Finance partners to support increases in annual expenses.
  • Prepares annual Regional Banking NIE/FTE plans.
  • In addition to supporting the EVP, Regional Banking, acts as a key Finance contact to provide ongoing decision support and performance analysis re: NIE/FTE to Retail & Business Distribution Strategy & Performance leaders.
  • Works with the Director, Regional Banking Finance and Senior Manager, Private Banking Finance to make recommendations re: distribution & anchoring of NIE challenges to Regional Banking and developing strategies to achieve NIE challenges.
  • Provides specialized expert advice and solutions contributing to the ongoing transparency of NIE aligned to line of business allocated NIE reporting.
  • Has regularly scheduled meetings/calls with the Regional Banking Support management team supporting regions and national to ensure there is an exchange of information re: regional and national priorities.
  • Acts as a key liaison and point of integration for National Office functional groups for all strategic performance-related targets and initiatives impacting CB Regional Banking financial and performance management results.
  • Key support to the Director, Regional & Private Banking Finance, proactively adding value-added expertise and advice on strategic initiatives and Performance Achievement Reports (PARs) and their impact on financial performance.
  • Provides guidance and coaching to the Manager, Regional Banking Finance, while working collaboratively to deliver on performance objectives.
  • Develops and prepares the Regional Banking NIE forecasts, engaging strategic partners to prepare appropriate T-5 estimates and forecasts in relation to plan, Year-over-Year (YoY), Quarter-over-Quarter (QoQ), and Month-over-Month (MoM) performance.
  • Identifies and investigates problems in data integrity and escalates to the appropriate National Office department for resolution to ensure adherence to established corporate governance and financial compliance standards.
  • Responsible for ensuring financial forecasts and results incorporate pertinent information and adhere to data integrity and financial compliance requirements.
  • Identifies, recommends, and implements efficient standard processes for the timely reporting of financial information.

Requirements

Must-Have

  • 5+ years of experience in financial reporting & analysis and cost management.
  • Experience using metrics, Key Performance Indicators (KPIs), and cost/value drivers in performance management.
  • Strong technical skills, including Microsoft Office Suite (Excel, PowerPoint, etc.).
  • Experience with unique financial systems such as Enterprise Performance Management (EPM) (Cognos).
  • Solid business acumen and problem-solving skills.
  • Excellent communication skills, both oral and written, with good interpersonal skills to establish relationships across all levels of the enterprise.
  • Ability to work well under pressure and in a team setting.
  • Curious and proactive mindset with a focus on continuous improvement.
  • Comfortable dealing with incomplete information, uncertainty, and change.

Nice-to-Have

  • Exposure to the Bank's Retail/Business network, products, and services.
  • Bachelor of Commerce (B. Comm), Chartered Professional Accountant (CPA-CA/CMA/CGA), Master of Business Administration (MBA), or equivalent work experience.
  • A varied working career including positions in a number of areas of RBC or another financial institution.
  • Knowledge and understanding of banking products and processes.

Job Skills

Accounting, Decision Making, Financial Analysis and Reporting, Financial Planning and Analysis (FP&A), Results-Oriented

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