Sr. Manager Model Risk CoE

Job Description

What is the opportunity?

RBC Internal Audit Services is hiring a Senior Manager within Model Risk Audit Team. You will provide an independent and objective assurance over the design and operating effectiveness of model risk management framework, governance, and control processes within the first and second line of defence across RBC, and throughout the model lifecycle: model identification, development, documentation, validation, implementation, and performance monitoring & use. 

We are looking for a high performing subject matter expert with direct experience on market risk model development and/or model validation in banking industry. You will work with management in achieving business objectives by identifying opportunities to improve business operations, while remaining objective and independent.

The RBC CAE Group leverages a unique perspective— with a coordinated view across the entire business—to deliver valuable advice that not only gives assurance, but that illuminates a bigger picture, connects dots, builds best practices and broadens possibilities. We connect intelligence to protect and enable RBC.

What will you do?

• Lead and manage model risk audit of market risk models used in capital markets and related risk management, IRRBB, ALM, capital planning and reporting, etc.), including audit planning, execution, and reporting, and ensure timely completion of assigned model audit work with high quality.
• Assess the design and operating effectiveness of model risk management framework, governance, and control processes within the first and second line of defence across RBC, and throughout the model lifecycle: model identification, development, documentation, validation, implementation, and performance monitoring & use.
• Communicate clearly, concisely, and timely with the audit team and business and/or function management throughout the audit of audit status, progress, material concerns.
• Balance risk with operational efficiency when raise audit issues, ensuring that recommendations and management actions are aligned with RBC's organizational goals and risk tolerance to deliver real value.
• Conduct effective risk assessment and continuous risk monitoring, and provide input to enhance model risk drivers and assessment processes.
• Support director(s) and the senior director in model audit develop and enhance the comprehensive model audit strategy, audit approaches, sampling methodologies, and audit steps within RBC.
• Become audit expert on regulatory requirements of market risk models, deepen the understanding of the related business/function objectives, key activities, risks, and controls, including changes to the regulatory and business environments.
• Continue to develop technical expertise and support audit engagements related to a broader range of models beyond market risk models.

What do you need to succeed?

 Must-Haves  

• Evidence of having validated and/or developed market risk models used in pricing, valuation, market risk management, FRTB capital, IRRBB, ICAAP, Stress Testing, etc.
• Risk Management or Regulatory/Compliance experience in either 1st or 2nd line of defence on market risks.
• Knowledge of legislation and regulations relating to model risk management in Canada, USA and UK.
• Ability to work under pressure and communicate effectively with the key stakeholders and self-motivated - able to work and learn independently, communicate and collaborate effectively with others at all levels in the organization.
• Master's degree or higher in quantitative areas such as finance, mathematics, physics, statistics, or equivalent working experience.

 Nice to have

• Working knowledge of Internal Audit Services practices, policies, procedures and systems with Internal Audit experience in Banking or Capital Market.

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, commissions and stock where applicable.
• Work with and learn from our extensive global network of people, including risk management professionals, data scientists, researchers, and various subject matter experts.
• Leaders who support your development through coaching and managing opportunities.
• Opportunities to do challenging work.

#LI-POST

Job Skills

Adaptability, Auditing, Commercial Acumen, Communication, Detail-Oriented, Interest Rate Risk, Internal Controls, Interpersonal Relationship Management, Long Term Planning, Market Risk, Market Risk Management, Market Risk Modeling, Model Audit, Model Risk, Model Validation, Python (Programming Language), Results-Oriented, Risk Management Framework, Risk Models

Additional Job Details

Address:

20 KING ST W:TORONTO

City:

Toronto

Country:

Canada

Work hours/week:

Employment Type:

Full time

Platform:

INTERNAL AUDIT

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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