Job Summary
Job Description
What is the Opportunity?
Fully knowledgeable on the businesses, products, and processes that the Funding Operations team supports and maintains. Provide escalation support as needed. Acts as subject matter expert on funding related projects and initiatives. Develops and harnesses ideas for process improvement thoughtful about risk and performance metrics for team. All responsibilities are to be carried out in accordance with RBC's Code of Conduct, RBC's Values, and RBC's Guiding Principles. This role offers a hybrid work arrangement with 3 days in the office and 2 days remote.
What will you do?
Capital Markets LLC/Broker Dealer Funding Responsibilities
- Daily funding of firm bank accounts
- Responsible for timely deposits to/from 15C3-3 accounts
- Responsible for intraday liquidity monitoring and reporting
- Responsible for timely deposits to various Clearing Organizations
- Planning and coordinating with other groups to meet funding needs
- Syndicate Operations to determine need for day loans in order to intra-day finance new issues underwritten by RBC
- Treasury Clearance as a conduit to the Repo Desk to raise or reduce cash as needed
- Foreign Settlements To forecast key cash needs for all US Dollar securities settling overseas
- Stock Loan Desk To determine their use of funds to enable accurate forecasting
- Repo Desk As the group responsible for raising or laying off funds, we need to work with the Repo Desk throughout the day
- Affiliated legal entities for their daily settlement versus the Broker Dealer
Affiliate Funding Responsibilities
- Daily funding across select affiliated entities engaging in below products types/activities
- Equities, Fixed Income & Derivative (both Listed & OTC)
- Stock Loan/Stock Borrow
- Repo/Reverse Repo
- Overnight and Term Loans
- Various miscellaneous payments/receipts as provided internally from Product Control/Financial Control
- Book and track overnight and term loans
- Daily bank reconciliations for affiliated trading entities
- Manage related bank accounts to ensure proper funding daily - ~approx. 10-15 bank accounts (USD & Multi-CCY) in our control currently
- Projecting future settlements and other funding needs
- Provide the forecasts to appropriate MM Desks throughout Toronto and London to ensure proper coordination
- Daily reconciliation of funding suspense accounts
- Wire processing and approvals through various internal system and banking portals
Accounting Responsibilities
- Responsible for supervising all accounting tasks related to the funding.
- Responsible for supervising monthly GL attestation over 1700 GL accounts in total.
- Oversee the daily Cost of Carry function across multiple trading units.
- Prepare month-end reporting for Head Office/Financial Control.
- Directly responsible for ensuring the group's adherence to audit requirements for internal/external auditors.
What do you need to succeed?
Technical/Systems Requirements
- Expert level MS Excel
- Intermediate to expert VBA & SQL programming
- Strong working knowledge of Broadridge products ADP, ICI Impact
- Strong working knowledge of CCP systems DTCC, NSCC, etc.
- Strong working knowledge of Securities Finance systems Loanet, Apex
- Project 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, competitive compensation, commissions, and stock where applicable
- Leaders who support your development through coaching and managing opportunities
- Ability to make a difference and lasting impact
- Work in a dynamic, collaborative, progressive, and high-performing team
- Opportunities to do challenging work
- Opportunities to building close relationships with clients
The good-faith expected salary range for the above position is $125,000 - $170,000 USD depending on factors including but not limited to the candidate's experience, skills, registration status market conditions and business needs.This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions health, dental, vision, life and disability insurance and paid time-off plan.
RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that
- Drives RBC's high performance culture
- Enables collective achievement of our strategic goals
- Generates sustainable shareholder returns and above market shareholder value
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and Equal Opportunity Employment
nclusion
At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
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