Associate Director – Local Market Risk

RBC•Toronto, ON

1d•Onsite

About The Position

The Associate Director – Local Market Risk will play a pivotal role in establishing and maintaining a top-tier risk oversight framework. Key responsibilities include: Monitor and Evaluate the Risk Profile: Maintain a deep and continuous understanding of the risk landscape for the Macro business, with a specific focus on the rates and foreign exchange markets. Proactively identify, assess, and address potential risk exposures. Define Approved Tradable Instruments and Products: Develop and enforce a clear framework for approved tradable instruments and products within the Macro space, ensuring alignment with the organization’s risk appetite and strategic goals. Design and Manage Market Risk Metrics and Limits: Assist in the creation and implementation of comprehensive risk metrics, including Greek sensitivities, stress testing scenarios, and stress shock calibrations. These tools will assess and quantify risks under both standard and adverse market conditions. Ensure Compliance and Policy Adherence: Monitor activities to ensure full compliance with internal risk management policies and external regulatory requirements. Oversee adherence to established risk limits and frameworks, providing timely reporting and insights.

Requirements

Demonstrates the ability to work autonomously with minimal supervision, coupled with a natural curiosity and eagerness to explore and solve complex problems.
Thrives in collaborative environments and possesses exceptional interpersonal communication skills. Capable of delivering clear, concise, and impactful messages in high-pressure, fast-paced settings.
Extensive experience in market risk functions
Superior written and verbal communication skills, with the ability to simplify and present complex technical concepts to senior risk and business leaders.
Deep understanding of vanilla and exotic derivative products across asset classes such as Fixed Income, Credit, Foreign Exchange, Commodities, and Equities.
Expertise in non-linear products and the dynamics of option Greeks.
Proficiency in Value-at-Risk (VaR) measurement and back-testing.
Advanced skills in stress testing, scenario analysis (e.g., "what-if" scenarios), sensitivity analysis, and P&L decomposition.
Strong knowledge of regulatory capital requirements under the FRTB framework.
Holds an MBA, MA, MS, or an equivalent qualification with a focus on finance, economics, or a quantitative discipline.
Proven experience in managing and coordinating projects, ensuring timely and efficient execution of deliverables.
Advanced capabilities in coding and data analysis, including; Python, Tableau or Bloomberg.
Demonstrates strong investigative abilities and a structured approach to identifying, analyzing, and resolving complex challenges.

Responsibilities

Monitor and Analyze Risk Exposure: Ensure market risks accurately reflect the organization's exposure by performing in-depth due diligence. Track portfolio changes and market conditions to deliver actionable insights for senior management.
Provide Risk Insights: Investigate emerging risks and deliver value-added insights to senior management, highlighting key trends, potential concerns, and areas requiring attention.
Evaluate Trading Strategies: Assess key trading strategies and products to ensure they align with the organization’s risk tolerance and deliver an appropriate risk-reward balance.
Collaborate with Trading Teams: Partner with trading teams to address critical risk-related issues, including system functionality, risk limits, and overall risk management, fostering alignment and effective communication.
Enhance Risk Infrastructure: Lead the development and refinement of the risk management framework, including product mandates, limit reviews, and assessments of new business initiatives.
Facilitate Stakeholder Collaboration: Coordinate across multiple stakeholders to support project-related tasks, including large-scale initiatives like risk modernization and ad-hoc requests from various functional groups.
Oversee Significant Transactions: Review and assess major transactions to support business objectives while ensuring robust risk controls and adherence to organizational policies.
Drive Process Improvement: Identify and implement opportunities to enhance and standardize processes within the Local Market Risk (LMR) team, promoting efficiency and consistency.