MD, Head, RBC US and CM Controls for Operations Function

Royal Bank of Canada•New York, NY

About The Position

What is the Opportunity? This position is responsible for the integration of risk activities for Operations across Consolidated US Operations (CUSO) including Capital Markets, US Wealth, City National Bank and RBC Bank.The primary purpose of the role includes leading a first line of defense (1LOD) team responsible for 1) ensuring controls for Operations teams providing service to US businesses are fit for purpose and operating effectively, 2) managing day to day risk and control activity in the Operations function, including manage OREs, Process RCSAs, Risk ID, risk register, product library, new product initiatives, cross business processes (OneRBC) and end to end process / control enhancements, 3) acting as the subject matter expert for end to end Operations processes, including payments, settlements, loans, middle and back office processes for all businesses in scope, 4) acting as the liaison between 1LOD/2LOD and representing Operations controls in front of regulators. This team is comprised of individuals with deep expertise in areas of risk in scope coupled with an understanding of businesses/products in scope and expectations of regulators in the market in scope. 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. Whereas 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, integrating risks that reach across businesses, integrating operational risk across CUSO, managing exams and audits, implementing regulatory change, and embedding the Operations Controls activity into business-as-usual processes. What will you do? Design, develop and manage a 1LOD Controls team for CUSO Operations, including professionals responsible for 1) ensuring controls for Operations teams providing service to US businesses are fit for purpose and operating effectively, 2) managing day to day risk and control activity in the Operations function, including manage OREs, Process RCSAs, RCSAs, Risk ID, risk register, product library, new product initiatives, cross business processes (OneRBC) and end-to-end process / control enhancements, 3) acting as the subject matter expert for end-to-end Operations processes, including payments, settlements, loans, middle and back office processes for all businesses in scope, 4) acting as the liaison between 1LOD/2LOD and representing Operations controls in front of regulators. Design, develop the integrated capability: Design, develop and implement an integrated controls program for Operations services provided to CUSO businesses and Capital Markets globally Work collaboratively with each of the CUSO 1LOD team partners to implement consistent processes related to Operations Controls Integrate the enhanced Operations controls model into the broader CUSO CCO team Operate as a conduit through which changes to Enterprise expectations (frameworks, policies, etc.) flow to be consistently interpreted, operationalized and sustained across CUSO and CM, providing flexibility at the business level where it makes sense Leverage the same conduit to integrate into the Enterprise where explanation and reporting on how Enterprise expectations have been interpreted, operationalized and sustained across CUSO and CM Work collaboratively with each of the CUSO 1LOD teams (Capital Markets, City National Bank, RBC Bank (Georgia), Wealth Management) and 2LOD partners to design and implement consistent processes related to risks that reach across businesses 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 cross business risks for the CEO, Senior Management and the Board. This requires a full understanding of and participation in the standardization of relevant reporting for each line of business, region and legal entity. Participate 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 and across businesses to enable an active and collaborative environment; including executive management Provide 1LOD stakeholders with advisory support and deep risk and control 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 Integrated Controls function for CUSO/CM Operations including people, processes and technology required to execute the mandate Develop and execute OKRs annually, including quarterly reporting on progress Input into annual leadership exercises including strategic, financial and talent planning, ensuring Integrated Operational Risk 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 Lead a Control and Regulatory Integration function including people, processes and technology required to execute the mandate 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 and managing operational risks

Requirements

Leading teams to execute a portfolio of control activity.
12 plus years experience
Knowledge of products and services in Capital Markets, Wealth and Consumer businesses.
Knowledge of systems and processes used in the middle and back office operational flows across Capital Markets, Wealth and Consumer businesses
Advanced expertise in 1st line risks and regulatory controls, including 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 and experience with how risks are identified and how controls are designed, tested, and integrated into risk registers.
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.
Undergraduate degree and either Masters or equivalent work experience
Relevant FINRA Licenses or equivalent experience to demonstrate knowledge of regulatory expectations.

Nice To Haves

Previous 1LOD experience in businesses, 2LOD and/or functions is ideal
Direct experience in Operations in Institutional businesses (e.g. Capital Markets)

Responsibilities

Design, develop and manage a 1LOD Controls team for CUSO Operations
Design, develop and implement an integrated controls program for Operations services provided to CUSO businesses and Capital Markets globally
Work collaboratively with each of the CUSO 1LOD team partners to implement consistent processes related to Operations Controls
Integrate the enhanced Operations controls model into the broader CUSO CCO team
Operate as a conduit through which changes to Enterprise expectations flow to be consistently interpreted, operationalized and sustained across CUSO and CM, providing flexibility at the business level where it makes sense
Leverage the same conduit to integrate into the Enterprise where explanation and reporting on how Enterprise expectations have been interpreted, operationalized and sustained across CUSO and CM
Work collaboratively with each of the CUSO 1LOD teams (Capital Markets, City National Bank, RBC Bank (Georgia), Wealth Management) and 2LOD partners to design and implement consistent processes related to risks that reach across businesses
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 cross business risks for the CEO, Senior Management and the Board
Participate in the US Scenario Analysis program, providing support to the business on risk and control considerations, as required
Foster strong stakeholder relationships within the US and across businesses to enable an active and collaborative environment; including executive management
Provide 1LOD stakeholders with advisory support and deep risk and control expertise
Liaise with the appropriate stakeholders to provide input on the development and implementation of new/updated enterprise policies and standing orders
Lead a Integrated Controls function for CUSO/CM Operations including people, processes and technology required to execute the mandate
Develop and execute OKRs annually, including quarterly reporting on progress
Input into annual leadership exercises including strategic, financial and talent planning, ensuring Integrated Operational Risk 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
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

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

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