Senior Manager, Group Retirement Products

Job Description

What is the opportunity?​

The Senior Manager, Group Retirement Products is responsible for the overall product management of group retirement products (Group RRSP, Group TFSA and Deferred Profit Sharing Plans), with a focus on ensuring compliance with mandatory federal legislation, as well as administrative and operational effectiveness. As the subject matter expert for group retirement products, you are responsible for all aspects of the product, including strategy,  profitability, policy and development. You will also manage and/or lead assigned initiatives and manage external and internal vendor relationships as part of the group business.

What will you do?

• Accountable for P&L of assigned products while taking into consideration the overall business P&L

• Ensure products align and integrate with overall Personal Savings & Investment and Group product strategies and maximize profitability through focused client value propositions, segmented target markets, and efficient sales and service processes

• In conjunction with Product Director, develop and maintain product strategies to ensure products are competitively differentiated and continue to offer strong value propositions to our clients (based on in-depth understanding of client needs and processes) focusing on achieving revenue and NIAT targets

• Partner with Director in effective management of each product through its lifecycle to capture its full business, market and profitability potential, including end-to-end product delivery (sales/distribution channels and fulfillment) and customer-service support processes and associated costs

• Build solutions and processes to ensure product line is compliant with evolving regulations (industry standards, tax regulations, federal/provincial regulations, etc.) while minimizing the potential impact on our clients

• Work with internal groups and external providers to lower error rates, improve service levels and increase reliability to continually improve Client Satisfaction levels.

• Ensure adequate risk control measures are implemented/maintained through life cycle. Identify, manage, and when necessary, escalate the risks and/or control deficiencies, while also promoting and encouraging effective challenge during risk discussions

• Provide leadership/act as the RBC Group Retirement Product "consultant" to internal partners

• Represent RBC with key suppliers, industry associations, etc.

What do you need to succeed?

Must-have:

• Bachelor's degree in business, commerce or related field, with broad business management insight/knowledge

• 5-7 years of related experience in product management, group retirement and/or pension plan management, preferably in a large insurance provider

• Extensive product management experience including managing a P&L, building and executing product strategies and lifecycle management

• Knowledge of Canadian Group Retirement space including Group RRSP, Deferred Profit Sharing Plan and Group TFSA administration and regulations

• Working with financial and pricing models – comfortable working in a data driven environment

• Demonstrated planning and execution capabilities

• Experience working in a matrix and highly collaborative, team-based environment

Nice to have:

• Canadian Securities course

• Canadian pension certificate

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.

• Ability to make a difference and lasting impact

• Work in a dynamic, collaborative, progressive, and high-performing team

• Opportunities to do challenging work

Job Skills

Accountability, Analytical Thinking, Business, Business Process Improvements, Collaborating, Decision Making, Effectiveness Measurement, Group RRSP, Industry Knowledge, Negotiation, Product Management, Product Profitability, Product Strategies, Risk Management, Vendor Management

Additional Job Details

Address:

RBC WATERPARK PLACE, 88 QUEENS QUAY W:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

Employment Type:

Full time

Platform:

PERSONAL & COMMERCIAL BANKING

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

Application Deadline:

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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