Senior Manager, Operational Risk and Control
Job Summary
Job Description
What is the opportunity?
In this role, the incumbent will be responsible for implementing operational risk programs and practices within RBC Wealth Management (WM) Operational Risk & Shared Service to enable global WM risk practitioners to execute effective risk programs that align to RBCs evolving second line of defense (2LOD) operational risk policies. This includes Risk and Control Self-Assessment (RCSA), Internal Controls Management Policy (ICMP) and Regulatory Compliance Management (RCM) control assessment/testing, Operational Risk Events (OREs), Key Risk Indicators (KRI) and Issues and Actions management.
The successful candidate will work closely with Group Risk Management (GRM), especially GRM Operational Risk & Shared Services (OR&SS) as the WM Segment lead on the enterprise Non-Financial Risk Practices (NFRP) forum. This will enable the person to monitor enterprise policy, program and system changes, and in term escalate resourcing needs, articulate change plans and to be a conduit to our constituents so they remain well informed. Additionally, the successful candidate will stay informed of external factors, OSFI requirements and recommend best practices.
The successful candidate will be accountable for the maintenance of our internal procedures to ensure they are aligned and well understood by the first line of defense (1LOD) employees who directly execute these requirements. They will also work closely with our embedded reporting team for alignment and to drive reporting, analytics and dashboards (Tableau) that support effective presentation of the WM Operational Risk Profile. This person will also help us to measure and monitor our internal effectiveness and efficiency in executing our broader mandate.
The successful candidate will be coordinate and/or execute the RCM controls testing for the RBC Investor Services business within WM.
What will you do?
- Stay informed regarding industry operational risk best practice and propose enhancements to the current WM operational risk and control program.
- Develop and implement enhanced and efficient control practices within 1st line of defense. This includes maintenance of our internal procedures to stay in line with enterprise policy requirements, best practice etc. This includes maintenance of any forms that are to be used during execution of programs.
- As WM Segment lead on the enterprise Non-Financial Risk Practices (NFRP) forum acts as main point of contact to GRM in respect of change activities on programs. Advocates for WM best interest during consultation processes with GRM on policy/program change, to ensure WM first line of defense activities remain sustainable, efficient, and aligned to WM strategic objectives.
- Escalates to leadership when future program requirements are accretive to headcount and provides recommendations and analysis to support business cases required to right-size our global teams.
- Leads and delivers regular 'practitioner calls' to keep global practitioners of changes in policies, procedures practices etc. Effectively communicates changes to stakeholders and key constituents as required. This may include design, delivery and dissemination of training materials and communications.
- Provides input and advice to evolve our KRIs to be more predictive and forward looking (leading indicators). Conducts data analysis and back testing to support management in risk-based decision making. Drives out root cause and trigger factor analysis on our risk data so management has strong intelligence on preventing risk exposure and repetitive errors.
- Creates internal KPI to measure quality, timeliness, and efficiency of our risk practices.
- Works in lockstep with our embedded operational risk reporting team to ensure outputs are consistent, scalable, visual and that data is used to best advantage in terms of informing risk owners of their risk profile and risk program delivery. The role provides key though leadership and design advice to the reporting team on Tableau dashboard that maximized use to practitioners and, ultimately, the business units we support.
- Coordinates and executes the RCM controls testing for the RBC Investor Services business within WM.
What do you need to succeed?
Must-have
- Bachelor's Degree
- Operational Risk Management and Non-financial Risk (NFR) knowledge, preferably expert knowledge of RBC's Operational Risk Framework, Policies, Standards etc.
- Knowledge of OSFI E21 and E13 guidelines.
- Relentless curiosity and drive to impact.
- Ability to see big picture and summarize risk exposures in various management reports.
- Critical thinking and ability to challenge 'policy' keeping 'practices/ execution' challenges.
- Strong verbal and written communication skills.
- Expert facilitation skills, presentation skills and change management skills.
- Adept in global and cross-functional stakeholder management.
Nice-to-have
• Master's Degree (MBA, CA etc.)
• Risk Management designation
• Control Testing experience
• RBC Operational Risk framework understanding
• RBC NFR practices knowledge
• Understanding of Tableau and Power BI
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.
- Flexible work/life balance options.
- Opportunities to do challenging work.
- Opportunities to take on progressively greater accountabilities.
- Access to a variety of job opportunities across business.
Job Skills
Business Process Design, Cross-Departmental Collaboration, Decision Making, Emerging Risks, Financial Risk Management (FRM), Key Risk Indicators, Management Reporting, Microsoft Power Business Intelligence (BI), Operational Risks, Reporting Tools, Risk Control, Risk Management, Risk Quantification, Risk Ratings, Risk Strategies, Tableau (Software), TeamworkAdditional Job Details
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