What is the Opportunity?

• The purpose of Model Risk Governance is to provide for the governance and project management of model risk practices globally across the enterprise while allowing business units (as deemed appropriate) to maintain control and ownership of modeling activities in their respective areas.

• The Director, Model Risk Governance will work with the Head, Model Risk Governance and support the US Head, Model Risk in the development, implementation, and maintenance of an enterprise model risk control framework, the components of which will include: (1) a structure of model risk policies, standards, and procedures, (2) a set of well-defined monitoring and oversight activities to ensure consistent application and compliance globally of all enterprise requirements for model risk management; and (3) a centralized enterprise model inventory and documentation library.

• Assist in synthesizing across the various business units/functions, an independent view and assessment of RBC’s model risk profile. Assist in presentations of RBC’s model risk profile to various RBC governance processes/committees so as to ensure that model risk exposure is appropriately assessed and considered in strategic decision-making - such as the evaluation of new products and/or initiatives.

What will you do?

US Model Policy and Standards adherence

• Oversee US combined operations model risk inventory pipeline management
• Articulate, interpret and uphold the model risk policy and standards in collaboration with US and Enterprise model risk stakeholders
• Perform regular ad hoc analysis on compliance data to help drive action in addressing areas of concern
• Provide education and training of policy, standards and use of the enterprise model inventory system (as needed)
• Collaborate to develop and maintain model risk governance procedures, frameworks and standards

Operations

• Develop efficiencies for management of day-to-day governance activities
• Strategize and collaborate with respective parties to achieve desirable Model Risk Appetite measures
• Provide business insight and review of monthly and quarterly formal reporting decks on compliance statistics, and an evaluation on trends and analysis on the state of model risk at RBC.
• On a monthly basis, present to several committees for the transparent dissemination of model compliance statistics, aggregate model risk analysis, Model Performance Tracking Results and the socialization (and escalation) of any model risk management-related concerns
• Coordinate and manage Governance related Ad Hoc requests
• Manage and lead business requirements, prioritization and input for enterprise model inventory system enhancements
• Collaborate to design and develop reporting & analytics framework
• Provide support and input for Ad Hoc Updates to the Model Risk Management; policy, standards, templates and various frameworks
• Help facilitate regulator-mandated programs for model risk
• Collaborate to assess EMRMs overall resource capacity, help guide the scope and prioritization of model validation work and to the extent required be proactive to augmenting staff with third-party staff contracts for a managed services approach to supporting RBC staff
• Coordinate Program-Specific Validation Efforts with Various Model Stakeholders, Peer Validation Teams

Management & Coordination of Model related Audit and Regulatory Exams

• Manage, coordinate and review of regulator’s requests and responses i.e., FRB/OCC Exams
• Manage, coordinate and review Internal and External Auditors request and responses, such as PwC SOX 81 (Annual Review) and various other Internal Audit Exams

Managerial Excellence

• Manage, Coach & Lead other MRG employees and find new talent as we move forward to building a sustainable team
• Provide focus and clarity in establishing individual goals, driving performance management, supporting career development, and rewarding strong performance.
• Leverage the value in unit, department, and enterprise-wide teams to develop better solutions and achieve a cross enterprise mindset.
• Accept and successfully execute change while supporting employees through the process, and keeping them focused on business priorities
• Ensure that employees understand RBC vision, as well as support and reinforce targeted behaviors that contribute to RBC goals

What do you need to succeed?

Required:

• Hold a university degree (preferably an advanced degree in a financial and/or related discipline).
• Have 8 years of relevant experience in the financial services industry
• Possess strong knowledge of business processes, and industry best practices and regulatory requirements for model risk management
• Have significant process management experience in an internal control capacity such as audit or risk management
• Have a collaborative mind-set with strong interpersonal skills
• Develop effective relationships and apply team-building skills across company divisions and all management levels
• Strong verbal and written communications skills
• Expert MS Word, PowerPoint user

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 $160,000 – $240,000 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

Job Skills

Credit Analysis, Financial Regulation, Internal Auditing, Investment Risk Management, Market Risk, Operational Requirements, Operational Risks, Risk Governance, Risk Management, Standard Operating Procedure (SOP)

Additional Job Details

GOLDMAN SACHS TOWER, 30 HUDSON STREET:JERSEY CITYJersey CityUnited States of America40Full timeGROUP RISK MANAGEMENTRegularSalaried2024-05-092024-05-09