Associate Director - Market Risk

RBC • New York, NY

10d • $120,000 - $200,000

About The Position

What is the Opportunity? As part of the Group Risk Management team, the Associate Director (AD) is responsible for providing independent and effective monitoring, control, and communications of market risk across RBC’s Securitized Product businesses and CNB’s MBS related businesses. This individual will partner with stakeholders across business, risk management and technology to ensure the implementation of and compliance with market risk policies and procedures. What will you do? Build out the market risk framework to support the Originate to Sell (OTS), Lock and Mortgage Servicing Rights (MSR) business Operate as primary market risk contact for the business head for the OTS, Lock and MSR business Monitor changes in portfolio and market to extract value-added insight for senior management Collaborate with internal regulatory colleagues on impact of expected portfolio changes to specific legal entities and regulatory compliance Review mortgage model parameters in concert with the front office traders, front office quants, and market risk quants Collaborate with additional trading and risk teams to ensure cohesion on key risk issues: systems, limits, risk management Support the management of market risk reporting process and ensure accuracy of key risk measurements Review significant transactions to help facilitate business and ensure proper risk controls Implement changes and improvements to the risk processes as required by new strategies and regulations What do you need to succeed? Must-have 3+ years of working experience in market risk covering relevant mortgage products Bachelor’s degree in Finance, Engineering, Math, or a related field Strong knowledge of CMO, MBS, MSR, TBA, and relevant hedge products (treasuries, swaps, swaptions, etc.) Strong knowledge of securitized product, interest rate, or other fixed income markets Strong analytical and mathematical skills, problem-solving capabilities and communication skills Nice-to-have Master’s degree in Financial Engineering, Financial Math, or a related quantitative field Experience with Tableau, Python and SQL Experience with Quantitative Risk Management (QRM) and Intex Experience with PolyPaths Experience with regulatory interaction and familiarity with regulatory rules pertaining to market risk 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 include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off. 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. Opportunities to do challenging work. Opportunities to build close relationships with clients. The expected salary range for this particular position is $120,000-$200,000 (New York), depending on your experience, skills, and registration status, market conditions and business needs. You have the potential to earn more through RBC’s discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals. RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that: Drives RBC’s high-performance culture Enables collective achievement of our strategic goals Generates sustainable shareholder returns and above market shareholder value #LI – POST

Requirements

• 3+ years of working experience in market risk covering relevant mortgage products
• Bachelor’s degree in Finance, Engineering, Math, or a related field
• Strong knowledge of CMO, MBS, MSR, TBA, and relevant hedge products (treasuries, swaps, swaptions, etc.)
• Strong knowledge of securitized product, interest rate, or other fixed income markets
• Strong analytical and mathematical skills, problem-solving capabilities and communication skills

Nice To Haves

• Master’s degree in Financial Engineering, Financial Math, or a related quantitative field
• Experience with Tableau, Python and SQL
• Experience with Quantitative Risk Management (QRM) and Intex
• Experience with PolyPaths
• Experience with regulatory interaction and familiarity with regulatory rules pertaining to market risk

Responsibilities

• Build out the market risk framework to support the Originate to Sell (OTS), Lock and Mortgage Servicing Rights (MSR) business
• Operate as primary market risk contact for the business head for the OTS, Lock and MSR business
• Monitor changes in portfolio and market to extract value-added insight for senior management
• Collaborate with internal regulatory colleagues on impact of expected portfolio changes to specific legal entities and regulatory compliance
• Review mortgage model parameters in concert with the front office traders, front office quants, and market risk quants
• Collaborate with additional trading and risk teams to ensure cohesion on key risk issues: systems, limits, risk management
• Support the management of market risk reporting process and ensure accuracy of key risk measurements
• Review significant transactions to help facilitate business and ensure proper risk controls
• Implement changes and improvements to the risk processes as required by new strategies and regulations

Benefits

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
• 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.
• Opportunities to do challenging work.
• Opportunities to build close relationships with clients.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level