2026 Fall - GRM, Global Risk Analytics Intern (4 Months)

Royal Bank of Canada • Toronto, ON

8d • Hybrid

About The Position

As part of the Group Risk Management team, the Global Risk Analytics Intern is responsible for the conceptual design, development, and ongoing maintenance of the mathematical models used for the measurement and capitalization of the counterparty credit risk of RBC's derivative portfolio. This includes ensuring that the model's underlying methodologies are appropriate and that they are implemented with integrity, to facilitate the effective management of the bank's CCR.

Requirements

• Broad knowledge of traded products across various asset classes.
• Understanding of regulatory requirements and industry best practices for the measurement and management of counterparty credit risk.
• Strong analytical and problem solving skills.
• Excellent programming skills (e.g., Python, MatLab).
• Data management and analysis skills (SQL and Excel required).
• Ability to work collaboratively to achieve team goals.
• Agility to adapt to changing circumstances in a dynamic environment.
• Strong English communication skills, both written and verbal, especially in the explanation of complex modeling concepts to senior management and regulators.
• Educational background in Financial Engineering, or in another quantitative subject such as physics, statistics, mathematics or mathematical finance and/or a relevant professional qualification, with concentration in quantitative methods and/or finance.
• Must be returning to school after the work term end-date of December 2026, or if graduating in December 2026, require the full 4-months work term as a mandatory component for graduation.
• Must be located within Ontario for the duration of the work term.

Nice To Haves

• Derivatives Pricing
• Financial Engineering
• Risk Analytics
• Risk Modeling

Responsibilities

• Work with model users to understand their business requirements.
• Conduct research, review regulatory requirements and consult with industry stakeholders to evaluate best practices for modeling.
• Make recommendations on model methodologies, and develop technical implementation, either for production usage or to serve as a prototype for benchmark testing.
• Provide business requirements with technical implementation details and user acceptance criteria to technology teams for production deployment, and validate implementation using independently developed benchmark models.
• Document model methodologies, implementation details and testing results, and work with internal validation to facilitate their approval of the models.
• Develop tools to assess and monitor model performance, including assumptions and limitations, on an ongoing basis for reporting to the various model monitoring governance committees.
• Investigate and remediate modeling issues identified through regular re-reviews, ongoing monitoring or by internal validation.
• Recalibrate models on a regular basis.
• Re-assessment and testing of models, including assumptions and limitations and benchmarking against alternative models, and documentation of the results in models whitepapers and annual assessments for review by internal validation.

What This Job Offers

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