Senior Manager, Balance Sheet Risk

As the Senior Manager, you will support GRM-BSLR's global Market Risk mandate that includes:

(a) Oversight for Interest Rate Risk in the Banking Book (IRRBB).

(b) Oversight for FVTPL (fair value through profit and loss) exposures in the Banking Book.

(c) Oversight for FVOCI (fair value through Other Comprehensive Income) exposures in the Banking Book.

(d) Oversight for indirect market risk - secondary impacts of market factor changes on Banking Book profitability.

What is the opportunity?

The Asset-Liability Management Risk Oversight team (ALM Oversight), part of the Balance Sheet and Liquidity Risk (GRM-BSLR) team, serves as RBC's Second line of defense (2LOD) in the management of non-trading risks with specific emphasis on Market Risk originating outside the Trading Book. GRM-BSLR provides independent oversight and monitoring of risk quantification and risk mitigation activities conducted by front-line functions.

As the Senior Manager, you will support GRM-BSLR's global Market Risk mandate that includes:

• Oversight for Interest Rate Risk in the Banking Book (IRRBB).
• Oversight for FVTPL (fair value through profit and loss) exposures in the Banking Book.
• Oversight for FVOCI (fair value through Other Comprehensive Income) exposures in the Banking Book.
• Oversight for indirect market risk - secondary impacts of market factor changes on Banking Book profitability.
• Acting as a subject matter expert on relevant regulations and policies; Interpreting new regulations and assessing impacts on the governance framework and policies.

What will you do?

• Provide qualitative and quantitative support in determining Enterprise Risk Appetite for Banking Book Market Risk.
• Actively engage with business counterparts to understand business drivers of financial performance and their approach to risk management and mitigation.
• Provide oversight and constructive challenge on assumptions and parameters embedded within management approaches and to ensure alignment with the stated approach.
• Participate in the market risk review of new products/initiatives within Banking Book businesses.
• Establish and review limits/thresholds to govern Banking Book market risk exposures at a portfolio/business activity level.
• Monitor exposures to ensure compliance with established limits and policies.
• Prepare commentary on financial implications of changes in risk exposures, market trends and forward-looking market developments; Develop ad-hoc reports and dashboards to provide comprehensive management insights.
• Monitor for changes in, and support RBC's compliance with, an evolving regulatory landscape.
• Provide positive advice and counsel to risk teams tasked with regional or segment Banking Book Market Risk governance, including parameter and assumption reviews and enterprise alignment, in the role of Enterprise GRM stakeholder.
• Manage the IRRBB governance mandates, ensuring all 2LOD findings are thoroughly documented, addressed promptly, and accurately recorded in the enterprise compliance system.

What do you need to succeed?

Must-have

• Degree in a financial or quantitative discipline.
• Prior experience in a market risk and/or ALM capacity, with a fundamental understanding of fixed income and derivatives products.
• Strong verbal and written communication skills, along with a collaborative mindset and superb interpersonal skills.
• Strong analytical and critical thinking skills coupled with a natural curiosity to explore implicit "what-if" scenarios inherent in presented problems.
• Keen attention to detail and a proactive approach to challenging methodologies and assumptions
• Exceptional time management and organizational skills.
• Willingness and ability to independently conduct research and source information to support of first-time or innovative initiatives.

Nice-to-have

• Graduate Degree (M.Sc., MBA), Relevant Professional designations (CFA, FRM, etc.).
• Comprehensive understanding of bank's line of businesses and banking book products from both market risk and profitability perspectives.
• Extensive familiarity with balance sheet management concepts, including Funds Transfer Pricing, Hedge Accounting, ALM and Liquidity.
• Strong technical skills with hands-on experience in programing languages such as Python and SQL, along with proficiency in database management and data visualization tools to effectively analyze and present data insights.

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 and make a lasting impact.
• Flexible work/life balance options.

Job Skills

Decision Making, Financial Instruments, Group Problem Solving, Market Risk, Performance Management (PM), Resource Coordination, Risk Management, Waterfall Project Management

Additional Job Details

ROYAL BANK PLAZA, 200 BAY ST:TORONTOTORONTOCanada37.5Full timeGROUP RISK MANAGEMENTRegularSalaried2024-11-272024-12-14

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