Associate, US Funding Management

What is the opportunity?

The candidate will serve as the liaison between Funding Operations and various Finance teams (Financial Control, Product Control, Risk). This is in support of the Funding Operations team's growing accounting responsibilities. The individual in this role is expected, over time, to take ownership of the monthly general ledger and Intergroup reconciliations, account attestations, and all related ad hoc requests.

To become fully knowledgeable on the businesses, products, and processes that the Funding Operations team maintains in support of our reconciliation and financial reporting responsibilities. Provide escalation support as needed. Acts as lead subject matter expert on all funding related financial reporting/reconciliation responsibilities. 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.

Responsibilities:

• Daily funding functions across all entities trading in both Listed and OTC products.

• Daily bank and General Ledger reconciliations.

• Daily accruals & cash flow activity to multiple GL's.

• Monthly reconciliation & Attestation for all Cash, Loan, & Accrual GL accounts; over 1700 GL accounts in total.

• Prepare month-end reporting for Head Office/Financial Control.

• Directly responsible for ensuring the group's adherence to audit requirements for internal/external auditors.

• Wire processing through various internal system and banking portals.

What you need to succeed?

Basic Qualifications

• Requires at least 4 years of relevant industry experience.

• College Degree in related field i.e. Finance, Accounting, Mathematics, Business Management, Economics.

Other Required Qualifications:

Advanced knowledge of the following concepts through prior experience:

PRODUCT KNOWLEDGE

• Equity, Fixed Income, and Derivative products & associated settlement cycle

• Stock Lending and Borrowing

• Repo/Reverse Repo agreements

• Initial and Variation Margin management; Futures, Swaps etc.

• Foreign currency funding

• US Banking and cash flows experience is necessary to ensure fluidity in late day funding

TREASURY

• Bank loan management, including day loan, overnight loan, secured and unsecured borrowing

• Issuing and calculating funding rates and spreads

• Allocating interest expense back to the business units

• Intra-day liquidity and collateral tracking & reporting

• Prior day liquidity and collateral tracking & reporting

FINANCE/ACCOUNTING

• General ledger postings

• Daily bank reconciliations

• General ledger reconciliations

• Balance Sheet Analysis

TECHNICAL/SYSTEMS REQUIREMENTS

• Expert level MS Excel

• Intermediate to expert VBA & SQL programming preferred

• 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

PROJECT MANAGEMENT REQUIREMENTS

• Ability to develop project scopes and objectives involving all relevant stakeholders.

• Ability to coordinate internal resources and third parties/vendors for the flawless execution of projects

• Ensure that all projects are delivered on-time, within scope and within budget

• Report and escalate to management as needed

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 include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.

• 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 build close relationships with clients.

The expected salary range for this particular position is $85,000 - $135,000 USD, depending on your experience, skills, and registration status, market conditions and business needs.

You have the potential to earn more through RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

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

Additional Job Details

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.