Director, Enterprise Hedge Accounting

What is the opportunity?

As Director, Enterprise Hedge Accounting, you will be responsible for managing the Bank's Hedge Accounting function and provide value-added advisory services to business platforms/ functions such as Corporate Treasury, Treasury Services, Capital Markets, Head Office and International Segments. You will be providing sound advice and support to business platforms, infrastructure projects as they relate to hedge activities, create and implement new hedge accounting strategies for highly complex business transactions and understanding new complex accounting pronouncements. You will also be responsible for timely and accurate completion of hedge accounting procedures, reporting, disclosure and ensuring compliance with IFRS and RBC policy.

What will you do?

Hedge accounting advisory, strategy implementation, and operations

• Advisory and strategy: provide value-added consulting service to business units on usage of existing hedge accounting tools and design of new hedge accounting solutions to help drive business growth and reduce P&L volatility
• Project & New Initiatives: act as coordinator and designer for new initiatives and new hedge accounting asks from business units. This include understanding market and regulatory changes, such as IBOR Reform, Internal Risk Transfer, etc. and their impacts on hedge accounting and enacting solutions to accommodate for these changes
• Staff Management: plan and execute managerial duties relating to team of finance professionals, including staff performance management, work allocation, and other staffing matters
• Operations: accountable for all operational aspects of hedge accounting on an enterprise-wide basis and act as key contact with Financial Control, Accounting Policy Group, Head Office and Segment Finance, IT (RTB and CTB) teams and internal/external auditors

Ensuring compliance with accounting standard and RBC requirements

• Provide oversight of financial reporting procedures, system performances, effectiveness testing processes/models, as well as the preparation of selected hedge accounting disclosures of RBC's quarterly and annual reporting process
• Provide second level review for all production deliverables such as P&L decomposition, hedge ineffectiveness, OI/NII forecast and timely management reporting / escalation
• Perform market and business based analysis of hedge accounting results for all business units
• Ability to critically assess and implement accounting standard changes and provide advocacy support where required
• Responsible for vendor relationship management on contract negotiation and project execution and for monitoring the vendor performance and compliance with RBC's supplier management policy
• Review all month end /quarter end deliverables and work with PWC and IAS on audit requests
• Lead by living RBC Vision and Values and actively practice RBC leadership model

What you need to succeed?

Must-have

• CPA, CA/CMA/CGA, and/or CFA
• 6+ years' of proven experience in banking industry with strong emphasis on overall understanding of hedge accounting, financial reporting, Capital Markets control and operations, and Treasury business model
• High capability to work with business and provide value added hedge accounting services and advice
• Strong ability to understand and explain hedge accounting results against relevant drivers, such as but not limited to derivative valuation, market forces, and business nuances
• Synthetization of and ability to convey complex technical concepts to executives and business partners without similar technical background
• Proven ability to build and maintain relationships with various partners across the enterprise
• Ability to deliver and manage tight deadlines
• Strong leadership, analytical, communication and people management skills.
• Extensive knowledge of IFRS and US GAAP in particular as it relates to derivatives and hedge accounting standards

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.