Director, Financial Crimes Model Risk Management

RBC • Toronto, ON

23h • Onsite

About The Position

The Financial Crimes, Model Risk Management (MRM) Director role is designed to embed model risk management expertise directly within a large-scale development team, facilitating compliance with regulatory requirements and enterprise MRM standards while supporting efficient model development and deployment. This position serves as a critical bridge between model development activities and independent model validation, ensuring model risk is appropriately identified, assessed, and managed throughout the model lifecycle.

Requirements

• 10+ years financial services
• 5+ years MRM or model validation
• GSIB or large bank experience
• Deep expertise in 1-2 model risk types
• Working knowledge of SR 11-7, SR26-2 and OCC 2011-12
• Experience supporting regulatory exams
• Led MRM implementation or remediation projects
• Worked with development teams (at least 20+ people)
• Stakeholder management and influence skills
• Some hands-on modeling or technical experience

Nice To Haves

• Graduate degree (MBA or relevant subject matter area)
• Certified Anti-Money Laundering Specialist (CAMS) designation or other related certifications

Responsibilities

• Ensure Financial Crimes AML models comply with the Bank’s Enterprise Model Risk Management Policy and Standard, OSFI Guideline E-23, SR 26-2 (US), and applicable jurisdiction and/or domain-specific governance requirements.
• Establish, enhance, and maintain internal processes, procedures, and standardized templates and language to drive efficiency and consistency in development practices across different AML domains, specifically transaction monitoring, payment and name screening and customer risk rating.
• Maintain the Transaction Monitoring and Client Risk Rating Development Playbook to ensure that the proper guidelines for the development, maintenance, deployment and documentation are followed for all Financial Crimes AML models.
• Review and support model development documentation, validation materials and remediation responses, providing effective challenge and ensuring adherence to AML risk exposure and model governance requirements.
• Provide hands-on support for model development and documentation efforts; contribute to periodic model assessments and validation activities.
• Lead the remediation of model validation findings, including identifying thematic deficiencies, prioritizing action plans and driving issues through to resolution.
• Oversee and monitor model performance and conduct root-cause analysis on performance breaches; provide strategic commentary to justify breach and remediation actions.
• Develop, support, and maintain reporting framework for Financial Crimes AML models; present quarterly updates to senior management and executive committees across RBC, CUSO, and any other RBC Legal Entities.
• Support reporting on RAM breaches for both CUSO and Non CUSO models and to provide insights on trending of RAM breaches.
• Act as key point of contact for model risk management matters for AML models; provide advisory and triaging support on internal and cross-functional projects.
• Manage operational risk matters within the team, including resolution of EIM Issues, maintenance of Archer Controls, and execution of Risk and Control Self-Assessment (RCSA) initiatives.
• Continuously assess AML model risk and monitor emerging risks arising from model changes, environmental shifts and evolving Enterprise Model Risk Standards, implementing appropriate controls when required.
• Maintain a comprehensive Financial Crime model inventory.
• Maintain a documentation repository with proper version control along with the appropriate approvals.
• Serve as primary liaison between developers and independent validation teams by facilitating validation planning, scoping, and information requests.
• Provides strategic direction, recruits, motivates, retains and leads a high-performing team of AML professionals who have strong documentation and processing skills, and are subject matter experts on model risk management to actively mitigate financial crime model risks.

Benefits

• bonuses
• flexible benefits
• competitive compensation
• commissions
• 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
• Opportunities to do challenging work
• Opportunities to take on progressively greater accountabilities
• Opportunities to building close relationships with clients
• Access to a variety of job opportunities across business and geographies

What This Job Offers

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