Associate Director; Personal & Commercial Banking Regulatory Change Compliance

RBC • Toronto, ON

10d • Onsite

About The Position

Reporting to the Director, FCAC Relations & Strategic Initiatives, this position is primarily responsible for providing oversight and management of new regulatory change initiatives impacting all Personal Banking & Commercial Banking businesses. The key responsibilities will include, but are not limited to, monitoring regulatory change alerts, participating in regulatory change projects, providing advisory support and guidance on new or amended regulations, identification of compliance risks, development of risk mitigation strategies and preparing management reporting on material regulatory change initiatives.

Requirements

• Work experience in areas such as risk management, personal or commercial banking businesses, audit or compliance (specifically consumer protection).
• Experience interpreting regulations, very strong written and verbal communication skills
• Knowledge of personal and commercial banking products and/or consumer protection regulations
• Must be able to work proactively and be agile against tight timelines.
• Self-starter that takes initiative with the ability to work independently.
• Highly organized and detail oriented.
• Strong collaborator with deep organizational awareness and relationships building skills, who can impact and influence partners across the organization (Compliance, Legal, RS&D and businesses) and build internal and external relationships across the organization

Nice To Haves

• Strong project management and/or change management skills

Responsibilities

• Act as the Subject Matter Expert (SME) for PB&CB Compliance on applicable regulatory change initiatives, to inform discussions with senior management and regulatory bodies to build confidence in RBC’s ability to adopt to new and upcoming regulations by the required timelines
• Stays up to date on the latest regulatory changes, trends and developments to inform impacted stakeholders and support business regulatory change initiatives/projects
• Acts as second line of defense (2LoD) advisor and consultant, to communicate regulatory changes to the business in a timely manner, partnering with Legal to address interpretation and applicability considerations
• Provide oversight and effective challenge to business partners on the end-to-end regulatory change implementation process, including impact assessment, risk assessment and implementation of systems, controls, policies/procedures and processes related to regulatory changes, raising compliance issues where appropriate (including issue oversight, monitoring and escalation) and supporting the development of risk mitigation strategies
• Prepares reporting and ongoing status updates to ensure that PB&CB businesses and Compliance senior management is aware of the latest status, key challenges and effective dates of regulations and to facilitate escalations, where required to ensure compliance by required timelines
• Manage ongoing periodic updates required to PB&CB owned policies and procedures, including engaging applicable stakeholders for input, obtaining required approvals, socializing changes with impacted stakeholders and publishing policies on RBC’s policy and procedure library (PPL)
• Centrally manage ad-hoc events that impact compliance with consumer protection Bank Act requirements across multiple LOBs, (i.e. Canada Post Strike), by participating in working groups, flagging risks or instances of non-compliance, supporting with Reportable Compliance Issue (RCI) reporting for these events and providing timely updates to impacted stakeholders and senior management

Benefits

• 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
• A world-class training program in financial services
• Flexible work/life balance options
• Opportunities to do challenging work

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees