Associate Director, Market Risk Governance and Controls

Royal Bank of Canada•New York, NY

1d•Onsite

About The Position

The Associate Director, Market Risk Governance & Controls will establish and maintain the governance, policy, and control framework for Market Risk at the US IHC. The role encompasses developing and maintaining risk policies and procedures, managing the covered position identification and re-designation processes, building out the net short credit/equity position framework, and ensuring the control environment meets FRB supervisory expectations. The individual will prepare materials for governance committees and FRB engagements, coordinate regulatory approval packages, and support internal audit and examination processes. This is a broad Market Risk governance role well-suited to a candidate with experience across multiple risk types and regulatory frameworks, not limited to FRTB.

Requirements

Bachelor's Degree in Finance, Business, Economics, or a related field
5+ years of experience at a bank or financial institution with exposure to Market Risk governance, regulatory capital, risk management frameworks, or a second-line risk function
Strong understanding of US prudential regulatory frameworks and FRB supervisory expectations, including familiarity with Basel III/IV, market risk capital rules, and stress testing programs
Experience developing or maintaining risk governance documents such as policies, procedures, frameworks, and committee materials
Understanding of financial products (rates, credit, equities) and how they are captured in a market risk governance context
Demonstrated ability to design and implement process controls and compliance monitoring frameworks
Excellent written and oral communication skills with experience preparing materials for senior management, governance committees, and regulators
Strong organizational skills with the ability to manage multiple concurrent governance workstreams and regulatory deliverables
Autonomous, highly motivated, and able to work independently and collaboratively under tight deadlines

Responsibilities

Develop, maintain, and enhance Market Risk policies, procedures, and governance frameworks for the US IHC, including covered position identification, trading desk structure documentation, trading/hedging strategy documentation, and internal risk transfer frameworks – 25%
Establish and operate the re-designation framework with associated notification, exception-handling, and FRB pre-approval processes; build and maintain the net short credit/equity position monitoring framework – 20%
Design and execute process controls across Market Risk functions, including risk and control self-assessments (RCSAs), key risk indicators, and ongoing compliance monitoring to ensure adherence to regulatory requirements – 20%
Prepare presentations, regulatory responses, and approval package materials for governance committees, senior management, and FRB engagements; coordinate across Risk, Finance, and Front Office functions – 15%
Support the regulatory sensitivities pre-approval analysis and submission process, including documentation of alternative sensitivity definitions versus regulatory prescribed sensitivities – 10%
Review supervisory guidance and industry developments to identify evolving regulatory requirements and best practices; provide support for internal audits and regulatory examinations – 10%