Director, Group Risk Management, Operational Risk - RBC Bank

Royal Bank of Canada•Raleigh, NC

42d

About The Position

What is the Opportunity? Operational Risk is a key risk at RBC Bank (RBCB) and therefore the Director, Operational Risk for RBCB will work with a number of key stakeholders across the bank but also wider in IHC / Enterprise to ensure that all sixteen taxonomies of Operational Risk are covered off accordingly and a true Operational Risk profile 2LOD view is presented to senior management, and committees and the RBC Bank Board. The primary purpose of the Director role is to ensure the alignment of Operational Risk Management (ORM) programs with local RBC Bank, Enterprise and Combined US Operations (CUSO) requirements, produce reporting that accurately reflects the operational risk profile and lead the Operational Risk -oversight within Second Line of Defense (2LOD) Operational Risk Management. What will you do? Act as a leader in GRM Operational Risk: First and foremost, embrace the leadership behaviors expected of a director and senior leader within the organization Responsible for specific local steering committees and governance forums related to RBCB Operational Risk. A main lead for 2LOD Operational Risk within RBCB a Coordinates and assists with quarterly Operational Risk meetings which supports effective senior management governance and oversight within RBCB and also feeds back into both CUSO and Enterprise as needed. Prepares regular and ad hoc reporting for regulators, which may include, OCC, FRBNY, OSFI and FINRA. Leads in the preparation of deliverables for GRM teams requested by stakeholders including Compliance and Enterprise Risk Management. Leads, designs and directs the implementation for ORM programs to meet local regulatory requirements and expectations. Leads execution in an advisory/consultative role relative to the 1LoD and Functions within RBCB. Be an advisor and a pillar that the 1LOD can rely on while maintaining independence. Responsible for monitoring adherence to policies, standards, procedures and frameworks related to assigned ORM programs while ensuring alignment to regulatory and industry best practices. Ensure RBCB Operational Risk Management policy documents remain current and relevant working closely with RBCB, Enterprise and CUSO Partners. Supports both the RBCB Chief Risk Officer and the US Head of Operational Risk in producing reporting that conveys complete, accurate and actionable information regarding RBC's operational risk profile, existing and emerging areas of risk, implications for Operational risk appetite, and the ability of the risk management and control infrastructure to support business activities Demonstrate to multiple stakeholders (Regulators, Internal Audit, Board and senior management), that the RBCB businesses and functions have sound Operational Risk management practices. Explore quantitative and qualitative methodologies to expand the horizon of Operational Risk loss projections using historical data and macroeconomic variables Ensure the Operational Risk metrics and methodologies align to the size and complexity of RBCB and also the RBC Operational Risk Management Framework Be a key point of contact for RBCB's development and execution of the Operational Risk Loss Estimation workstream for the RIHC's Comprehensive Capital Analysis and Review program. Directs the Implementation of RBCB's Operational Risk Programs: Represents the RBCB's view on the Operational Risk Events and Operational Scenario working groups, providing feedback and expertise from RBCB perspective Assesses external events and potential impacts on RBCB Support communication mechanisms to ensure effective and timely dissemination of information within senior management at RBCB, the board and also wider stakeholders both internally and externally Prepares for and participates in internal meetings and follow up on action items. Provides oversight and challenge on the 1st Line Operational Risk reports with approved and designate Operational Risk Centers of Governance (COGs) Oversight of Operational Risk Appetite Develop strong partnership with business leads to gain an understanding of underlying business drivers and issues that affect both Operational Risk profile, loss projections and Operational Risk Appetite. Assists in the implementation of the RBCB Operational Risk scenario program and Operational Resilience program working closely with GRM-OR, both Operational Risk Shared Services and Advisory & Oversight (A&O) teams, in the broader implementation of the programs Leads the ad-hoc analysis and other advanced quantitative projects within the US Operational Risk program Participate in Risk ID program for RBCB related to Operational Risk and ensure risks related to stress are mitigated. s Provide a forward-looking perspective and impact/response analysis to changes in RBCB's strategy and the macro environment. What do you need to succeed?

Requirements

10-12 years of relevant experience
At least 5+ years of experience in the Financial Services industry as an Operational Risk Manager. Candidates with backgrounds in Internal Audit and/or Compliance will also be considered.
Strong knowledge of leading Operational Risk best practices. Gained at similar retail bank
Previous experience with of working with various US regulators (OCC, FRB) is a must.
Maturity level and skill/judgment to be able to deal effectively with numerous internal and external stakeholders
Excellent presentation and communication skills. Ability to manage across the layers of the organization
Good impact and influence skills. Leading a small team plus influencing other teams across RBC
Someone that can embrace and has a proven track record of Change Management and is principles
Degree in Business or Finance

Nice To Haves

Knowledge gained in either first or second line of defense risk and control mitigation specifically: understanding of risks and controls, issue management, reporting, metrics, Fraud and audit

Responsibilities

Act as a leader in GRM Operational Risk
Responsible for specific local steering committees and governance forums related to RBCB Operational Risk.
A main lead for 2LOD Operational Risk within RBCB a
Coordinates and assists with quarterly Operational Risk meetings which supports effective senior management governance and oversight within RBCB and also feeds back into both CUSO and Enterprise as needed.
Prepares regular and ad hoc reporting for regulators, which may include, OCC, FRBNY, OSFI and FINRA.
Leads in the preparation of deliverables for GRM teams requested by stakeholders including Compliance and Enterprise Risk Management.
Leads, designs and directs the implementation for ORM programs to meet local regulatory requirements and expectations. Leads execution in an advisory/consultative role relative to the 1LoD and Functions within RBCB. Be an advisor and a pillar that the 1LOD can rely on while maintaining independence.
Responsible for monitoring adherence to policies, standards, procedures and frameworks related to assigned ORM programs while ensuring alignment to regulatory and industry best practices. Ensure RBCB Operational Risk Management policy documents remain current and relevant working closely with RBCB, Enterprise and CUSO Partners. Supports both the RBCB Chief Risk Officer and the US Head of Operational Risk in producing reporting that conveys complete, accurate and actionable information regarding RBC's operational risk profile, existing and emerging areas of risk, implications for Operational risk appetite, and the ability of the risk management and control infrastructure to support business activities
Demonstrate to multiple stakeholders (Regulators, Internal Audit, Board and senior management), that the RBCB businesses and functions have sound Operational Risk management practices.
Explore quantitative and qualitative methodologies to expand the horizon of Operational Risk loss projections using historical data and macroeconomic variables
Ensure the Operational Risk metrics and methodologies align to the size and complexity of RBCB and also the RBC Operational Risk Management Framework
Be a key point of contact for RBCB's development and execution of the Operational Risk Loss Estimation workstream for the RIHC's Comprehensive Capital Analysis and Review program.
Represents the RBCB's view on the Operational Risk Events and Operational Scenario working groups, providing feedback and expertise from RBCB perspective
Assesses external events and potential impacts on RBCB
Support communication mechanisms to ensure effective and timely dissemination of information within senior management at RBCB, the board and also wider stakeholders both internally and externally
Prepares for and participates in internal meetings and follow up on action items.
Provides oversight and challenge on the 1st Line Operational Risk reports with approved and designate Operational Risk Centers of Governance (COGs)
Develop strong partnership with business leads to gain an understanding of underlying business drivers and issues that affect both Operational Risk profile, loss projections and Operational Risk Appetite.
Assists in the implementation of the RBCB Operational Risk scenario program and Operational Resilience program working closely with GRM-OR, both Operational Risk Shared Services and Advisory & Oversight (A&O) teams, in the broader implementation of the programs
Leads the ad-hoc analysis and other advanced quantitative projects within the US Operational Risk program
Participate in Risk ID program for RBCB related to Operational Risk and ensure risks related to stress are mitigated. s
Provide a forward-looking perspective and impact/response analysis to changes in RBCB's strategy and the macro environment.

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
Opportunities to do challenging work
Opportunities to build close relationships with clients

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