MD, Head of Control and Regulatory Integration

Royal Bank of Canada • New York, NY

2d • $200,000 - $320,000

About The Position

This position is responsible for control and regulatory integration activities for Consolidated US Operations (CUSO) and global Capital Markets (CM).The primary purpose of the role includes leading a first line of defense (1LOD) team responsible for 1) developing and executing consistent and efficient processes to manage regulatory exams and internal audits, including readiness, findings/issues, and closure;2) managing changes to and communication of 1LOD policy/procedure documentation resulting from exams/audits, and 3) designing, implementing and managing end to end processes to execute regulatory developments and changes impacting CUSO and global CM.
This role has a high degree of interconnectedness across businesses (global Capital Markets, City National Bank, RBC Bank (Georgia), US Wealth Management), regions (US, CA, EU, Asia), and stakeholder groups (businesses, regional management, 2LOD, 3LOD, regulatory relations, prudential and securities regulators and enterprise partners).
In addition, this role is tightly integrated into the CUSO/CM Chief Controls Office team, which has accountability for ensuring that our control environment is fit for purpose and operating effectively across the 1st line for CUSO and global CM.Where as the primary purpose of this role is described above, the primary purpose of the other leaders on the team includes centers of expertise focused on business products/services, managing and integrating horizontal risks common across businesses, managing and integrating controls for the operations functions, integrating operational risk across businesses, and embedding the Control and Regulatory Integration work into business-as-usual processes.

Requirements

• Leading large teams across regions to execute a portfolio of control activity.
• Extensive knowledge/experience of products and services in Capital Markets, Wealth/Consumer businesses
• Extensive knowledge of Operations process is ideal
• Advanced expertise in 1st line risks and regulatory controls, including regulatory compliance across regions and products.
• Experience in 1st line leadership of exams, audits, remediation and issues management.
• Direct engagement with US, Canadian prudential and securities regulators; and knowledge of and engagement with regulators outside of N. America.
• 1st line implementation and use of advanced technology to enhance controls and to achieve efficiencies.
• Advanced knowledge of Operations processes and complexities and control vulnerabilities therein
• Proficient in engaging with and presenting to senior executives, regulators, committees and boards
• Exceptional at building, sustaining and leading high performing teams
• Proficient at independent problem solving and use of judgement when escalation is required
• Ability to work independently without immediate supervision

Nice To Haves

• Previous 1LOD experience in businesses and Operations is ideal

Responsibilities

• Design, develop and manage a 1LOD Control and Regulatory Integration team, including professionals responsible for understanding how controls are designed and operate to meet operational and regulatory requirements material to the CUSO businesses, and designing and implementing processes to ensure end to end management exams, audits, regulatory change, including readiness, closure of issues/findings, and changes to documentation like policies/procedures.
• Design, develop the Control and Regulatory integration capability:
• Work collaboratively with each of the CUSO 1LOD team (Capital Markets, City National Bank, RBC Bank (Georgia), Wealth Management) and 2LOD partners to design and implement consistent processes related to exams, audits, regulatory change and resulting findings/issue management
• Collaborate with CUSO CCO team members to communicate changes to control effectiveness so that relevant CUSO CCO team members can update risk registers and other framework tools (RCSA, ORMS, etc.)
• Collaborate with CUSO CCO team members to support CUSO businesses with establishing an appropriate internal control structure, including the design and documentation of controls
• Standardize CUSO business-level non-financial risk and control reporting related to Control and Regulatory Integration for the CEO, Senior Management and the Board. This requires a full understanding of and participation in the standardization of non-financial risk reporting for each line of business, region and legal entity.
• Participating in the US Scenario Analysis program, providing support to the business on risk and control considerations, as required
• Advisory Support:
• Foster strong stakeholder relationships within the US to enable an active and collaborative environment; including executive management
• Provide 1LOD stakeholders with advisory support and deep risk management subject matter expertise
• Liaise with the appropriate stakeholders to provide input on the development and implementation of new/updated enterprise policies and standing orders
• Leadership:
• Lead a Control and Regulatory Integration function including people, processes and technology required to execute the mandate
• Develop and execute Objectives and Key Results annually, including quarterly reporting on progress
• Input into annual CCO team leadership exercises including strategic, financial and talent planning, ensuring Control and Regulatory Integration team priorities are reflected
• Develop and execute messaging required to enable success of the team
• Influence senior business leaders and drive risk perspective, accountability and culture throughout the CUSO, in partnership with 2LOD
• Own the development of risk training and awareness as appropriate for 1LOD across the CUSO
• Where there is an intersection with control and regulatory integration, enable elevated Conduct and Culture reporting across CUSO lines of business, with centralized reporting to the US CRO and CEO
• As a member of the Committees and Forums, the leader will contribute to the maintenance of an effective control and regulatory integration program, focusing on:
• Sharing insights, themes and findings from exams, audits and regulatory changes with stakeholders to drive awareness of changes to expectations and changes to processes, controls and behaviors
• Enabling alignment across LODs and stakeholders on control priorities that emerge from exams, audits and regulatory changes
• Drive efficiency through use of consistent approach and process used in the planning for and responding to exams, audits and regulatory changes

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 building close relationships with clients

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Education Level: No Education Listed