Manager, Balance Sheet and Liquidity Risk Model Validation

Job Title: Manager, Balance Sheet and Liquidity Risk Model Validation

What is the opportunity?

The Group Risk Management (GRM) Balance Sheet and Liquidity Risk (BSLR) team performs the second line of defense role for all balance sheet and liquidity risks at the enterprise level. As Manager, Balance Sheet and Liquidity Risk Model Validation, you will be responsible for conducting independent oversight of methodologies, parameters, assumptions and models used in the for measuring banking book interest rate risk, liquidity risk and fund transfer pricing. You will act as a trusted advisor and effective challenger to stakeholders on all matters pertaining to BSLR methodology, parameter, assumptions and model risk.

What will you do?

• Perform timely and effective validation of models in scope for Balance Sheet and Liquidity Risk, including assessment of model methodology, assumptions, limitations, and model performance monitoring framework.
• Assess the robustness and effectiveness of model methodology and performance by performing validation testing, such as replication, sensitivity analysis, benchmark modeling, impact analysis, etc.
• Prepare comprehensive validation reports that document the evaluation process, assessment of model methodology, data integrity, performance metrics, and testing results, along with findings and recommendations.
• Engage the methodology and model owners and users to pro-actively identify, assess, monitor, and manage model-related concerns or findings.
• Ensure that model stakeholders are aware and compliant with methodology and model risk findings and limitations identified in validation reviews, as well as post-production activities such as performance and limitation monitoring and outstanding finding resolution.
• Collaborate with model owners, model developers, model users, model governance, risk managers, and audit teams to ensure validation findings and recommendations are well-informed by business context and purpose.
• Ensure that RBC's Balance Sheet Risk frameworks and policies meet local regulatory requirements and align with business strategies and industry best practices, and that the validation and review activities follow all relevant enterprise and local risk policies standards and procedures.
• Create work plans and track project progress to ensure that work is being completed in accordance with committed timelines and regulatory deadlines.

What do you need to succeed?

Must-have

• Advanced university degree in a financial or quantitative discipline (such as financial engineering, mathematics, statistics, economics, finance, engineering, computer science, physics or any equivalent disciplines)

• Strong computational, analytical, and critical thinking skills. Proficient in Excel, SQL and one or more of programming languages such as Python.
• Basic understanding of banking products, such as mortgage, loan, deposit, mortgage commitment, etc.
• Have a collaborative mind-set and superb interpersonal skills, verbal and written communication skills.
• Ability to rapidly acquire new knowledge and independently conduct research best practices in new and unfamiliar modeling areas.

Nice-to-have

• 1 - 3 years of work experience in financial industry, preferably in financial modeling function such as model development or model validation
• Relevant professional designations (CFA, FRM, etc.)
• Previous experience with treasury activities, such as asset liability management, interest rate risk, liquidity management, fund transfer pricing, etc.
• Familiarity with QRM software is an asset

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
• Leaders who support your development through coaching and managing opportunities
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Flexible work/life balance options

Job Skills

Analytical Thinking, Balance Sheets, Communication, Decision Making, Economic Analysis, Financial Instruments, Funds Transfer Pricing (FTP), Group Problem Solving, Interest Rate Risk, Investment Risk Management, Liquidity Management, Liquidity Risk, Market Analysis, Market Risk, Model Risk, Model Validation, Risk Management, Statistics, Treasury Risk

Additional Job Details

ROYAL BANK PLAZA, 200 BAY ST:TORONTOTORONTOCanada37.5Full timeGROUP RISK MANAGEMENTRegularSalaried2025-02-272025-03-14

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above