Director, Model Enhancement & Governance

RBC•Toronto, ON

11d•Onsite

About The Position

The Director, Model Enhancement & Governance, will lead the transformation program for models and processes embedded in the Bank's credit provisioning operations. This role is responsible for establishing and maintaining comprehensive standards and documentation that are clear, concise, and current to support second and third-line review activities while ensuring compliance with internal policies and regulatory standards. Key responsibilities include developing governance frameworks and documentation that ensure provisioning models and processes remain accurate and compliant, creating standardized templates and quality assurance protocols for ongoing documentation maintenance, and collaborating across Model Risk Management, Senior Risk Managers, Internal Audit, and business teams to facilitate effective communication and governance. The Director will also track governance compliance metrics, support model validation activities, monitor emerging regulatory requirements, and recommend process improvements to elevate the Bank's model governance maturity related to the provisioning programs (IFRS9, CECL).

Requirements

Strong banking and risk knowledge (wholesale or retail credit or both), with strong Risk Management experience; minimum 8yrs+ work experience.
Robust experience working directly with model documentation and model validation, with a focus on model governance.
Extensive experience in technical report writing and enhancing credit provisioning models.
Present quantitative materials, concisely and accurately, to business and risk stakeholders.
Graduate degree is preferred in an analytical discipline such as Finance, Statistics, Mathematics, or Economics; or a combination of a quantitative undergraduate degree combined with an MBA/CPA, or other related certification.
Strong ability to understand and communicate, verbally and in writing, complex concepts to various stakeholders
Quick learner with outstanding conceptual, analytical, and problem-solving skills, with an ability to lead towards challenging deadlines and deliver under pressure.
Works well with cross-functional teams, demonstrating strong teamwork, coordination, and people skills.
A thorough understanding of relevant accounting and regulatory rules and requirements (IFRS 9, CECL) preferred.
Proficiency in SAS and Python is required.

Nice To Haves

Prior experience preferred cross-functional coordination within a risk subject matter expert role.
Ability to quickly grasp new concepts, especially in the field of risk management and finance/accounting.
Ability to tailor analysis to required level of precision.
Ability to communicate, verbal and in writing, complex concepts to a non-technical audience.
Strong risk and controls mindset.

Responsibilities

Independently establish and maintain comprehensive documentation standards for all provisioning models and processes
Work with the credit provisioning teams to understand credit provision results, assumptions, and methodologies and generate comprehensive technical model documentation for second- and third-line reviews.
Independently coordinate with model risk management to support the initial and ongoing validation of credit provisioning processes while responding to technical inquiries in a timely manner.
Maintain strong communication with functional partners for timely identification and escalation of issues affecting model governance and documentation
Ensure requisite processes are maintained and their execution adequately documented, with internal management and/or SOX controls as appropriate.
Keep abreast of regulatory, accounting and other financial industry developments as they relate to RBC's credit provisioning and model governance, including but not limited to OSFI E-23, OSFI IFRS 9 Financial Instruments and Disclosures, FRB 26-2 guidelines and ASC 326.
Anticipate, and be able to answer, both written and verbally, nearly all substantive questions related to the work of their team to internal and external stakeholders, including the respective regulators.
Lead remediation effort and plan for control/compliance issues identified by management, internal and external auditors.
Act as a subject matter expert to internal model governance requirements and ensure all processes and documentation are compliant.
Understand RBC vision, as well as support and reinforce targeted behaviours that contribute to RBC goals.