Manager, Enterprise Model Risk Management

Royal Bank of Canada • Toronto, ON

4d • Onsite

About The Position

As part of the Enterprise Model Risk Management (EMRM) team within Group Risk Management (GRM), the Associate Director will be primarily responsible for carrying out independent validation of models within the Market and Counterparty Credit Risk model categories as well as the Wealth Management business.

Requirements

• 5+ years of model risk management or model developer experience with a preferred focus on Market and Counterparty Credit Risk, or Asset Management models.
• Strong analytical, communication, problem solving and stakeholder management skills.
• Undergraduate and post graduate degrees in a quantitative subject (eg physics, mathematics, engineering, economics etc).

Nice To Haves

• In-depth knowledge of model risk regulations, RBC policies, procedures & practices.
• Proficiency with Bank Technology and/or more general programming languages.
• Experience in wealth/asset management modelling.

Responsibilities

• Engage relevant model developer/owners and users across market risk, counterparty credit risk and/or wealth management model categories as necessary to acquire and maintain a thorough understanding of the flow and context of model usage by the business.
• Perform independent validation, delivering effective challenge to understand all key sources of model uncertainty and ensure that model usage adheres to RBC model risk policy.
• Deliver clear, well written validation reports with sound conclusions based on assessment and testing outcomes.
• Complete projects within stated timelines to assist the business to use models in a timely and safe way.
• Ensure clients and colleagues are treated with respect, a highly professional empathetic approach is used, and good working relationships are maintained. Look for, and act upon, opportunities to strengthen the quality of challenge, efficiency and communication of key model risk processes and deliverables.
• Partner with stakeholders to achieve collective results. Act as a catalyst to ensure team is strategically aligned with business strategies while maintaining the Bank’s desired risk profile.
• Support direct managers and contribute directly to process improvement projects aimed at maximizing quality and efficiency of the model risk management process
• Provide support for more junior members of the team to enable them to perform validation activities

Benefits

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation.
• Leaders who support your development through coaching and managing opportunities.
• Opportunities for growth, and opportunities to redefine audit approaches.

What This Job Offers

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