VP, Operational Risk, Controls & Governance

Royal Bank of Canada•Los Angeles, CA

12d•$100,000 - $185,000

About The Position

What is the Opportunity? The VP, Operational Risk, Controls & Governance acts as a risk professional within the Capital Markets first line of defense, responsible for overseeing and executing comprehensive operational risk management programs. This role ensures comprehensive risk identification, assessment, monitoring, and mitigation across all business lines while fostering a robust risk culture and maintaining regulatory compliance through effective governance frameworks and control oversight. What will you do? Lead the development, implementation, and continuous enhancement of comprehensive Risk & Control Self-Assessment (RCSA) program across Capital Markets business units and affiliates, including management and oversight of Risk Registers with real-time input and assessment of inherent and residual risks in collaboration with business and functional stakeholders. Establish and maintain a comprehensive operational risk event reporting framework to capture, analyze, and report operational losses, gains, near-miss events, and timing losses, coordinating root cause analysis activities and maintaining a detailed event database with trend analysis capabilities. Execute a thorough issues management processes to identify, track, and resolve control deficiencies and risk exposures, coordinating completion of risk mitigating actions and providing regular status updates to senior management. Oversee and enhance a comprehensive control testing program to validate effectiveness of risk mitigating controls, coordinating with 1LOD Testing teams and analyzing testing results to identify control deficiencies and coordinate remediation efforts. Develop and report comprehensive risk appetite metrics and Key Risk Indicators (KRIs) to monitor high risks to Capital Markets business units, creating sophisticated measurement frameworks and preparing regular risk appetite reporting for senior management. Serve as primary liaison between first line of defence and second/third line functions for risk management activities, fostering strong working relationships with senior management and representing Operational Risk, Controls & Governance at internal meetings and audit activities.

Requirements

Bachelor’s degree in Finance, Business Administration, Risk Management, Economics, or related field
Minimum 5-7 years of experience in operational risk management or related financial services roles
Proven track record in stakeholder management and cross-functional collaboration

Nice To Haves

Preferred experience working within first line of defence in capital markets or investment banking environment

Responsibilities

Lead the development, implementation, and continuous enhancement of comprehensive Risk & Control Self-Assessment (RCSA) program across Capital Markets business units and affiliates, including management and oversight of Risk Registers with real-time input and assessment of inherent and residual risks in collaboration with business and functional stakeholders.
Establish and maintain a comprehensive operational risk event reporting framework to capture, analyze, and report operational losses, gains, near-miss events, and timing losses, coordinating root cause analysis activities and maintaining a detailed event database with trend analysis capabilities.
Execute a thorough issues management processes to identify, track, and resolve control deficiencies and risk exposures, coordinating completion of risk mitigating actions and providing regular status updates to senior management.
Oversee and enhance a comprehensive control testing program to validate effectiveness of risk mitigating controls, coordinating with 1LOD Testing teams and analyzing testing results to identify control deficiencies and coordinate remediation efforts.
Develop and report comprehensive risk appetite metrics and Key Risk Indicators (KRIs) to monitor high risks to Capital Markets business units, creating sophisticated measurement frameworks and preparing regular risk appetite reporting for senior management.
Serve as primary liaison between first line of defence and second/third line functions for risk management activities, fostering strong working relationships with senior management and representing Operational Risk, Controls & Governance at internal meetings and audit activities.

Benefits

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper.
We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
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
The expected salary range for this position is $100,000]-$185,000 , depending on your experience, skills, and registration status market conditions and business needs.
You have the potential to earn more through RBC’s discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.
RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that: Drives RBC’s high-performance culture Enables collective achievement of our strategic goals Generates sustainable shareholder returns and above market shareholder value