Associate Director, Controls & Integrity, Stress Testing and Capital Adequacy

RBC • Toronto, ON

1d • Onsite

About The Position

The Associate Director, Controls & Integrity, Stress Testing and Capital Adequacy reports to the Director, Controls & Integrity - Stress Testing and Capital Adequacy. This role involves applying business knowledge, subject matter expertise, project management, and controls experience within financial reporting or risk management to support numerous stakeholders and Senior Directors across the Credit Provisioning & Stress Testing (CPST) team. The position is responsible for providing ongoing control and governance thought leadership and support for programs such as the Bank’s internal capital adequacy assessment program (ICAAP), stress testing (Enterprise-Wide Stress Testing (EWST) and Comprehensive Capital Analysis and Review (CCAR)), Recovery and Resolution (RRP), and credit provisioning (IFRS 9 and CECL). The role has a particular focus on the capital adequacy pillar.

Requirements

• 7+ years in capital adequacy, risk or financial management and oversight/governance, preferably with a strong demonstrated understanding of Pillar I and Pillar II risks, as well as controls and governance within a regulated financial institution.
• Experience working with regulatory requirements and best practices related to SOX, regulatory controls, internal audit and/or other governance and control frameworks.
• Well-developed (demonstrated) relationship competencies with the ability to work cross-enterprise to drive initiatives forward.
• Experience managing, organizing, and tracking control and governance issues and responses, including project management to effectively manage milestones, and status reporting.
• Ability to quickly grasp new concepts, especially in the field of capital adequacy, stress testing and/or risk management.
• Highly collaborative with strong communication and interpersonal skills, critical thinking, keen attention to detail and ability to navigate complex regulatory frameworks.
• Excellent written and verbal communication skills demonstrated through clear articulation of relevant risks and mitigating controls.
• Precision in execution and delivery through effective organization and time management skills.
• Advanced computer skills in spreadsheet management and building presentations.

Nice To Haves

• Modelling and statistical capabilities to assess regulatory and economic capital
• Cross-functional capability, with good business, risk, and regulatory requirement knowledge in more than one of the following risk areas: IT risk, market or trading risk, credit risk, structural interest rate risk, and liquidity risk.
• Strong knowledge of best practices regarding Operational Risk practices in a financial institution
• Conceptual thinker with a curious mind to challenge and question the status.
• Proven experience with reviewing, and challenging proposed corrective actions, ensuring control and governance issues are addressed in a timely manner.
• Demonstrated project management experience

Responsibilities

• Provide subject matter expertise on the Bank’s Internal Capital Adequacy Assessment Process (ICAAP), leading the production of annual and quarterly deliverables, both internally and externally (e.g. to OSFI).
• Working and coordinating closely with other related programs (e.g. Corporate Treasury’s Capital Planning process and EWST).
• Developing and executing on a comprehensive plan to deliver on the core regulatory and internal filings as they relate to the ICAAP.
• Provide quantitative and qualitative analysis of the Bank’s internal capital position, including analysis of Pillar I and Pillar II risks.
• Drive change and continuous improvement to the ICAAP process, including enhancements to methodology and Pillar II risk quantifications and analysis, through collaboration with other stakeholders and teams including but not limited to teams responsible for regulatory capital, economic capital, credit modeling & methodology, model governance, stress testing, capital planning, internal and external audit, as well as other key stakeholders.
• Provide subject matter expertise in the identification, design and management of internal controls associated with processes managed by CPST.
• Providing risk and control leadership over processes such as system infrastructure and development, information and data management, processing and execution, as well as the overall governance framework related to CPST programs, with a focus on the capital adequacy processes.
• Actively seek to simplify and streamline processes and key controls to improve agility and effectiveness of underlying activities for BAU programs. In this role, focus will be on reviewing and revising processes related to the Bank’s ICAAP program.
• Provide an independent assessment of key controls, making recommendations on the sufficiency and appropriateness of the controls and evidence packages in relation to what risks are being addressed.
• Provide direct support to CPST teams and stakeholder groups (e.g. finance, IT, corporate treasury and other risk teams) to actively assess, develop and implement controls to meet internal (e.g. RBC’s Internal Controls Management Policy) and external (e.g. regulatory) control requirements.
• Coordinating with subject matter experts such key business and operations leads and testing specialists to ensure controls are implemented and operating effectively.
• Ensure that responses to auditors, regulators and other relevant stakeholders and integrated and well-coordinated across the Enterprise workstreams.
• Monitoring and tracking progress to ensure that appropriate information and deliverables are provided on a timely basis.
• Review and recommend controls and corrective actions / remediation approaches to address self-identified, regulatory or audit findings or significant control / governance gaps
• Identify and effectively escalate potential issues to the Director / Senior Director with appropriate recommendation(s) to resolve the identified issue.
• Interpret and execute on the key policy requirements
• Support the periodic status reporting on progress against control and governance initiatives/issues, including self-identified, operational risk, audit and regulatory issues impacting CPST.
• Program management including planning, scheduling and tracking of critical CPST projects and other team initiatives.
• Coordinate team efforts surrounding key deliverables and project timelines and manage conflicting priorities.
• Develop tools and Enterprise approaches to assist the CPST team with ensuring that there is a strong controls and governance framework including around process and controls documentation as well as Issue tracking
• Prioritize and facilitate responses to queries and ad hoc requests coming from internal and external stakeholders

Benefits

• bonuses
• flexible benefits
• competitive compensation
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Flexible work/life balance options
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: No Education Listed