Job Summary
Job Description
What is the Opportunity?
The incumbent is responsible for various risk oversight and governance activities in for Wealth Management US operations with focus on risk identification and assessment via execution of enterprise risk reporting, risk policies, credit portfolio management and perform risk oversight activities for cash related balance sheet related risk themes like liquidity and Interest rate risk. This includes
- Ensures material risks are clearly identified, assessed and reported to Wealth Management senior management committees in order to ensure risks taken are within our acceptable tolerance. Where necessary ensures remedial actions taken in order to mitigate the risk below to acceptable levels.
- Ensures risks are appropriately identified and incorporated into the Wealth Management and RBC CUSO (where relevant) and RBC Group risk frameworks as necessary
- Ensures Wealth Management US has robust risk governance via owning and maintaining Wealth Management US risk policies, participate enterprise risk policies ensuring Wealth Management US is fully aligned with CUSO and enterprise standards.
- Participate and provide effective challenge on development and implementation of Wealth Management risk appetite statement including reporting to Wealth Management committees the performance relative to approved risk appetite measures and thresholds.
- Responsible for risk oversight of credit portfolio management activities including Wealth Management credit portfolio assessment in order to identify shifts in risks and any emerging risks. Also responsible for second line credit risk portfolio monitoring.
- Execute assigned strategic initiatives helping business and other GRM functions on identifying, controlling, measuring and mitigating known or emerging risks US Wealth Management face or may face.
What will you do?
- Providing effective second line risk oversight of the Wealth Management and Global Asset Management businesses with focus to operations in United States.
- Assisting in Wealth Management Group risk management activities including the ongoing development and implementation of risk controls for US Wealth Management, the aggregation and delivery of material risk updates to the senior management committees and development and maintenance of risk control frameworks
- Executing robust, effective and sustainable risk management practices and programs.
- Assist in implementation of new product initiatives
- Proactive identification of emerging risks (operational, liquidity, credit, market risk) and communication of these risks to senior management as appropriate
- Collate, challenge and ensure consistency of risk reporting for US Wealth Management Operating Committee, and Wealth Management OC and US Global Asset Management (where needed)
- Provide effective oversight and challenge to US Product Risk Committee and other risk committees such as but not limited to High Risk Committee, credit retail committee
- Coordinate and provide input to Enterprise Reporting Initiatives (ERR, GRM Review) to ensure accuracy and consistency.
- Undertake various risk-related projects, requiring effective coordination across wide numbers of GRM and Business groups.
- Reviewing Audit and Compliance reviews for risk themes requiring additional focus.
- Supporting the Senior Director GRM WM North America and Head of Risk Management Wealth Platform with broader ERM matters impacting Wealth Management, incl. prudential regulatory change, Wealth Management US input to Enterprise level initiatives and sundry tasks.
What do you need to succeed?
- 10 years experience in financial services
- Bachelors Degree quantitative discipline
- Experience in financial services
- Proven communication skills (both writing and presentation)
- Strong knowledge of the custody or depositary bank business and its products
- Ability to handle complexity and work in a matrix environment
- Proven people management experience
- Proven ability to deal effectively with conflict
- Diplomatic and constructive in negotiation, excellent stakeholder management skills
Whats 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
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nclusion
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