Senior Manager Business Risk

Royal Bank of Canada • Toronto, ON

16h • Onsite

About The Position

Reporting to the Director of Business Risk for RBC Wealth Management and being embedded in WM’s 1st line of defense, the Senior Manager Business Risk is a trusted Business Risk adviser to Senior Leaders in WM in general and the WM Strategy, Products & Digital Investing (SP&D) team in particular. The Senior Manager will help the Director develop, implement, and sustain RBC’s Operational Risk Framework ensuring alignment with the Enterprise ORM strategy for the management of Operational Risk (ORM). You will guide Business Risk management leadership within SP&D including providing expertise, advice and counsel to senior management, enhancing their ability to anticipate and manage business risk effectively. The WM units specifically supported are Direct Investing & InvestEase, Global Credit and Banking Solutions, Global Investments, Strategy & Transformation; Digital; and Data & AI.

Requirements

• 5-8 years of combined knowledge, skill, and background in Wealth Management Brokerage, P&CB, Operational Risk, Audit or Compliance functions.
• University Degree and recognized Industry Qualifications – Securities / Options / Futures/Investment Management or equivalent courses.
• Strong problem solving, analytical (including qualitative and quantitative analysis) and research skills are essential as well as advanced desktop skills (e.g. excellent knowledge of Microsoft Office, Tableau , PowerPoint).
• Ability to deal effectively with senior management and multiple stakeholders.
• Strong communication and writing skills with the ability to present information effectively.
• Consulting mindset with focus on making strategically aligned business recommendations.
• Professional designation such as an MBA, CPA, CFA.

Nice To Haves

• Excellent knowledge of Wealth Management and P&CB products, processes, and organization.
• Strong knowledge of Direct Investing and Direct Investing businesses and related front-office and back-office activities.
• Experience in securities operations within one or more businesses in WM or comparable businesses. Experience supporting Canadian investment dealers, trading.
• Familiarity with Canadian Investment Regulatory Organization (CIRO) rules and requirements.

Responsibilities

• Develop, implement, and comply with the Operational Risk Framework in WM specifically for the WM Strategy, Products & Digital Investing (SP&D) team. Responsible for planning, developing, and executing on all aspects of the Operational Risk practice for the businesses outlined above.
• Lead the 1st line execution of the RCM program in coordination with the businesses & Compliance. Establish and implement appropriate oversight to ensure that RCM policies are being adhered to and exceptions are escalated to the Director.
• Implement the enhancements to RBC’s Internal Control Management Policy in SP&D. Act as delegate to support control assessments and annual attestations to assist lines of businesses in meeting their ongoing Internal Controls Management Policy (ICMP) and Regulatory Compliance Management (RCM) and obligations.
• Drive innovation in control design and control testing methods, working with control owners to leverage automation and data to modernize controls testing. Manage the rolling 12-month plan to ensure annual assessments are performed on time.
• Implement the enhancements to RBC’s Risk and Control Self-Assessment program in SP&D including the establishment of Risk Register, Risk statements and aggregation of digitized RCSA.
• Support the Director in the development, tracking and reporting of Risk Appetite for WM globally.
• Support Director in the development, tracking and reporting of Key Risk Indicator (KRI) for all BU/FUs within SP&D.
• Responsible for guiding the team in complying with RBC’s Issues Management framework and Project engagement.
• Provide expert feedback on the Operational Risk impact of major change initiatives, process improvements, and transformational projects.
• The successful candidate will maintain critical linkages with Centres of Governance, 2LoD Operational Risk (GRM OR), Compliance, and other critical areas of dependency for SP&D to facilitate the exchange of information and integrated solutions to operational risk issues.
• Performing Root Cause analysis of major events, Product risk reviews and IRPs.
• Attend specific WM SP&D Operating Committees and other Governance forums as the risk SME and as delegate of the Director.
• Act as a center of excellence for education and advocacy of information on RBC’s Operational Risk management practices and programs to foster sound operational risk management in WM.

Benefits

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation.
• 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.

What This Job Offers

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