Senior Manager, Internal Audit – Global Credit

Royal Bank of Canada • Toronto, ON

10d • Onsite

About The Position

Internal Audit (IA), also known as the Chief Audit Executive Group (CAE), a division within RBC, has a mandate to provide independent, objective risk assessment and evaluation of the adequacy and effectiveness of risk management practices, internal controls, and governance processes for all areas of RBC. The Senior Manager plays a critical role in providing independent and objective evaluations of credit risk management practices for the Corporate, Commercial and Wealth Management credit portfolios. Key stakeholders include the 1st and 2nd line of defense bankers and senior leadership. This role will enhance leadership skills through active engagement with audit clients, including executive management and advance your business network within the business and functional platforms. This is an opportunity to build strategic partnerships while developing critical thinking skills and providing insights to our audit clients on the management of risk in their operating environment.

Requirements

• Minimum 5-7 years’ relevant industry experience in a financial institution.
• Deep understanding of credit risk provisioning, including proficiency in IFRS 9 – Financial Instruments and Current Expected Credit Loss (CECL) methodologies
• Strong foundation in credit risk management gained through educational and professional work experience.
• Strong interpersonal, communication and presentation skills with an ability to interact effectively and build relationships with senior management and executives.
• Prior experience in underwriting or adjudicating Wholesale and Commercial Credit.
• Deep understanding of risk and control concepts, with ability to evaluate materiality and significance of deviations, as well as strength of management practices.
• Good understanding of business processes and associated risk and control concepts for credit products and services.
• Strong project management skills, able to influence staff and meet deadlines on time without compromising quality.

Responsibilities

• Lead and / or participate in end-to-end credit-focused audit engagements.
• Recommend a risk-based audit scope to ensure adequate coverage of key credit risk areas including governance and oversight, origination & underwriting, risk ratings, adjudication, monitoring and reporting.
• Develop and execute audit programs and procedures to assess design and operating effectiveness of controls implemented to mitigate credit risk, regulatory risk and operational risk.
• Develop and draft issues and recommendations relating to control gaps identified, as well as overall audit conclusions based on control strengths and weaknesses.
• Provide an overall opinion on internal controls and risk management practices to Senior Management
• Plan and execute industry / portfolio-based reviews consisting of credit risk file reviews of the Wholesale and Commercial portfolios.
• Contribute to annual audit planning and ongoing risk assessment by identifying emerging risks in the wholesale credit landscape (e.g. concentration risk, credit deterioration, regulatory gaps).
• As a strategic thinker, develop new assurance strategies and data-driven approaches to produce risk and control insights for business partners, and increase Internal Audit’s efficiency and effectiveness.
• Monitor regulatory developments and ensure audit coverage is aligned with expectations and industry best practices.

Benefits

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation.
• Leaders who support your development through coaching and managing opportunities
• Work in a dynamic, collaborative, progressive, and high-performing team
• Opportunities to do challenging work
• Ability to make a difference and lasting impact
• The opportunity to interface with senior level executives from many different parts of the organization

What This Job Offers

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