Manager, Enterprise Model Risk Management

RBC•Toronto, ON

2d•Hybrid

About The Position

Join RBC’s Enterprise Model Risk Management (EMRM) team as a manager. This role offers you the chance to ensure oversight of model risk, ensuring the integrity and efficacy of various quantitative models used in the bank. You’ll play a critical role in safeguarding the company against regulatory, financial, and reputational risks linked to model risks. Your expertise will help prevent potential losses and ensure compliance with RBC’s stringent risk management standards.

Requirements

Hold a Master Degree in a quantitative discipline such as math, physics, econometrics, statistics, or financial engineering.
Possess a strong quantitatively oriented knowledge of financial products and industry best practices and regulatory requirements for model risk management.
Have more than 1 years of working experience as a quantitative analyst and/or in mathematical/statistical modeling.
Experience in working with programming languages (Python, C++/C# or VBA) or statistical analysis tools (SAS, MATLAB, or R).
Strong verbal and written communication skills.
Have a collaborative mind-set with strong interpersonal skills.

Nice To Haves

Knowledge of regulatory requirements for financial institutions
Familiar with enterprise risk management framework

Responsibilities

Validate models: Including but not limited to, regression models, front office pricing models, market and counterparty credit risk models, and credit risk models.
Engage with stakeholders: Work closely with risk, finance, front office, and other related function group personnel to identify, assess, monitor, and manage model risk proactively.
Oversight responsibilities: Ensure that, per RBC model risk policy, models are: Appropriately registered and risk rated by EMRM (Enterprise Model Risk Management). Validated before use. Following appropriate protocol when adjustments or other changes are made to a model, its inputs or outputs. As appropriate and where independence of oversight is not compromised, offer input on model design or use that would enhance the management of model risk.

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
Flexible work/life balance options
Opportunities to do challenging work