Winter Intern

2 days ago

Mississauga, Ontario, Canada Royal Bank of Canada> Full time
Job Summary

This role is an entry-level opportunity that will give the incumbent exposure to the asset/liability management strategy and operations of an insurance investment department. It is an ideal position for a graduate student or senior undergraduate student with career aspirations related to insurance finance and/or investments.

Key Responsibilities

The primary objectives of this position are to:

  • Support the actuarial function within the RBC Insurance Investments department.
  • Support the fixed-income trading operations of the Investments department.

The incumbent will be expected to perform reporting and production work, while also having an opportunity to see how that work fits within the bigger picture of the financial results of RBC Life.

Trading Operations Support

The incumbent will assist the public markets trading team in the following areas:

  • Management and resolution of securities settlements on a daily basis.
  • Cash and collateral monitoring and management.
  • Execution and management of repo transactions and transactions to hedge UL equity exposures.
  • Management of information requirements and projects to improve reporting processes.
ALM Optimization

The incumbent will collaborate with the Investments team to optimize asset/liability management (ALM) processes, including:

  • Consolidating asset information from Bloomberg to validate asset portfolio composition and performance.
  • Optimizing investment processes and procedures to deliver accurate and reliable information on asset portfolio holdings.
Risk Reporting

The incumbent will monitor and report on investment risk metrics, ensuring compliance with internal policies and external regulatory requirements. This will involve:

  • Developing and/or supporting the production of regular risk metrics and reports.
  • Analyzing potential asset trades and understanding/explaining whether the proposed trades fit within the dual mandate of the investment department – minimize risk and maximize yield.
Requirements

To succeed in this role, the incumbent will need to possess:

  • A good academic record.
  • Strong technical and analytical skills, such as Excel modeling and/or coding.
  • Detail-oriented, problem-solving ability, and highly motivated self-starter.
  • Team player, willing and able to do tasks that free up time for more senior members of the Investments team.
  • Ability to work collaboratively across RBC Insurance (Investments, Finance, and GRM-Insurance) to collect necessary data and results and subject matter expert opinions.
Nice-to-Have

The following skills and experience would be beneficial:

  • Some investment experience.
  • Familiarity with Bloomberg tools.
  • Understanding of IFRS 17 standards and requirements for discounting of insurance liability cash flows.
  • Understanding of liquidity and duration characteristics of various insurance products.
  • Understanding of fair value pricing of various asset types, specifically fixed income.
  • Comfort with various interest rate modeling techniques related to interpolation, extrapolation, and calibration of short/long-term interest rate assumptions.

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