Director, Derivative Trading

Job Description

What is the opportunity?

The Director, Derivative Trading will be responsible for leading and executing derivative strategies to support the company's asset-liability management and risk mitigation objectives. This senior role will oversee pricing, structure, clearing, curve construction, and execution for investment and hedging portfolios, with an emphasis on regulatory compliance and best practices in a dynamic market environment.

What will you do?

• Lead all aspects of interest rate derivative trading, including swaps, futures, options, and swaptions, to manage the company's risk exposures and drive strategic value
• Execute complex derivatives strategies, including non-linear products such as interest rate floors/caps, swaptions, and equity floors, ensuring precise execution and regulatory compliance
• Assist the Total Fund Management team in central clearing and margin (collateral) posting activities, ensuring optimal use of resources and alignment with regulatory guidelines and CCPs (central counterparties)
• Work with the Quant group to design, validate, and maintain interest rate curve construction methodologies for pricing and risk management purposes, including multi-curve frameworks and discounting techniques
• Collaborate with investment, actuarial, risk, and operations teams to integrate derivatives into broader asset-liability strategies and capital modeling for the insurance book
• Partner with the Total Fund Management team to assist in clearing documentation, ISDA negotiation, and counterparty onboarding, maintaining strong relationships with brokers, CCPs, and collateral managers
• Provide subject matter expertise and leadership for insurance product structuring, model validation, and regulatory changes impacting derivatives trading
• Mentor junior traders and analysts and deliver regular reporting and recommendations to senior management.

What do you need to succeed?

Must-have

• Minimum 6 years' experience trading interest rate derivatives
• Exposure to multi-currency, cross-asset derivative portfolios
• Proven track record in the pricing of central clearing, margin/collateral management, and curve construction for fixed income and equity derivative products
• In-depth knowledge of derivative pricing and execution protocols for both linear and non-linear instruments (e.g., interest rate floors/caps, swaptions, equity floors)
• Experience in legal/operational aspects of cleared and uncleared derivatives (ISDA, CSA, clearing agreements)
• Advanced quantitative, analytical, and communication skills; ability to lead cross-functional teams and manage multi-dimensional risk strategies
• Familiarity with trading and risk systems, regulatory frameworks (OSFI/NAIC/CSA), and the evolving landscape in margining and capital requirements
• Master's degree in Finance, Economics, Engineering, or related field; CFA/FRM/PRM or similar designation preferred

Nice-to-have

• Experience with Murex (Book of Record) or Felix (Pricing) tools
• Deep understanding of CAR and LICAT capital guidelines
• People Management Experience

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 and competitive compensation
• RBCI software tools to boost your productivity
• Leaders who support your development through coaching and managing opportunities
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to take on progressively greater accountabilities
• Access to a variety of job opportunities across business and geographies

Job Skills

Communication, Competitive Markets, Decision Making, Fund Analysis, Investment Consulting, Investment Risk Management, Liquidity Management, Resource Coordination, Trade Client Reporting

Additional Job Details

Address:

RBC CENTRE, 155 WELLINGTON ST W:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

Employment Type:

Full time

Platform:

INSURANCE

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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