Director, GRM - Wealth Management Canada

Royal Bank of Canada • Toronto, ON

3d • Onsite

About The Position

Group Risk Management (GRM) is responsible for providing independent and objective oversight of the management of significant risks arising from RBC’s businesses and operations. This role, reporting to the Director, GRM – Wealth Management North America, focuses on risk oversight and governance for Wealth Management Canada business lines, including Direct Investing, Retail Brokerage and Advisory, and Trust and Estate. The incumbent will concentrate on risk identification and assessment through risk reporting, risk policies, credit portfolio management, and will perform risk oversight for cash-related balance sheet risks such as liquidity and interest rate risk. The individual will manage one direct report and collaborate with internal stakeholders and Centers of Governance (CoG) to foster a best-in-class risk monitoring and oversight environment covering both financial and non-financial risks.

Requirements

• Strong proficiency in Microsoft PowerPoint (presentation design, storytelling) and Excel (data analysis, reporting templates).
• 8+ years experience in financial services with 3+ years of related experience in an enterprise or specialist risk control function (eg market risk, credit risk, liquidity risk, capital or operational risk).
• Proven communication skills (both writing and verbal)
• Ability to prioritize in a fast moving, high pressure, changing environment.

Nice To Haves

• MBA, MA, MS or equivalent with emphasis in finance, risk management, data science, or a quantitative discipline is preferred.
• Working knowledge in wealth management and custody and the associated products, offerings, and risks.
• 1 or more Financial Designations (ie CFA, FRM, CSC, CPA, etc)
• Experience with Python, SQL, Tableau, PowerBI or other data visualization tools.
• Working experience presenting to senior level audiences

Responsibilities

• Oversees the measurement, aggregation, and monitoring of portfolio risks undertaken by Wealth Management Canada, including Market Risk, Credit Risk, Liquidity Risk, Balance Sheet Risk, Operational Risk, Cyber Risk, IT Risk, and Third-Party Risk.
• Ensures material risks are clearly identified, assessed, and reported to executive committees; works with Centers of Governance to ensure timely remedial actions are taken.
• Produces and presents enterprise risk reporting to senior level management committees, risk committees, and boards; provides strategic challenge and insights.
• Manages, monitors, and tests risks and risk controls within the parameters of the risk control framework for Wealth Management Canada.
• Contributes to the development of risk policies and establishes risk tolerance limits in conjunction with the business and other risk teams, ensuring policies and limits remain current, comprehensive, and clearly understood by all business partners.
• Positions Wealth Management Canada to respond effectively to changing regulatory requirements related to risk management, business developments, and market developments that impact the risk profile of Wealth Management Canada business lines.
• Leads evolution and calibration of WM Canada's risk appetite statement; monitors and reports performance against approved measures and thresholds to senior committees and boards.
• Oversees and supports alignment of business strategy and risk appetite across Wealth Management Canada businesses through effective oversight and challenge in key committees, including the Product Risk Committee, High Risk Committee, and Credit Retail Committees.
• Acts as a key GRM Wealth Management representative on critical enterprise risk strategic initiatives impacting Wealth Management Canada, encompassing regulatory developments, broader Wealth Management business developments, enterprise initiatives, and special projects.
• Serve as the primary point of contact and trusted advisor for WM Canada business units on all matters related to risk identification, mitigation, and control. Build and maintain strong relationships with key stakeholders across the division to foster trust, facilitate open communication, and enable effective risk governance.
• Facilitates business growth through review and assessment of new products, strategies, and significant deals, ensuring risks align with RBC's risk tolerance while recommending and implementing appropriate risk mitigating controls.
• Proactively investigates risks and performs deep-dive analysis to provide clear, comprehensive insights to senior management on risk trends and concerns, influencing decision-making at senior leadership levels.

Benefits

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits.
• 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.
• 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.

What This Job Offers

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