Sr. Manager Model Risk CoE
Sr. Manager Model Risk CoE
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Job Description
Job Summary
Job Description
What is the opportunity
RBC Internal Audit Services is hiring a Senior Manager within Model Risk Audit Team. You will provide an independent and objective assurance over the design and operating effectiveness of model risk management framework governance and control processes within the first and second line of defence across RBC and throughout the model lifecycle: model identification development documentation validation implementation and performance monitoring & use.
We are looking for a high performing subject matter expert with direct experience on market risk model development and/or model validation in banking industry. You will work with management in achieving business objectives by identifying opportunities to improve business operations while remaining objective and independent.
The RBC CAE Group leverages a unique perspective with a coordinated view across the entire businessto deliver valuable advice that not only gives assurance but that illuminates a bigger picture connects dots builds best practices and broadens possibilities. We connect intelligence to protect and enable RBC.
What will you do
- Lead and manage model risk audit of market risk models used in capital markets and related risk management IRRBB ALM capital planning and reporting etc.) including audit planning execution and reporting and ensure timely completion of assigned model audit work with high quality.
- Assess the design and operating effectiveness of model risk management framework governance and control processes within the first and second line of defence across RBC and throughout the model lifecycle: model identification development documentation validation implementation and performance monitoring & use.
- Communicate clearly concisely and timely with the audit team and business and/or function management throughout the audit of audit status progress material concerns.
- Balance risk with operational efficiency when raise audit issues ensuring that recommendations and management actions are aligned with RBCs organizational goals and risk tolerance to deliver real value.
- Conduct effective risk assessment and continuous risk monitoring and provide input to enhance model risk drivers and assessment processes.
- Support director(s) and the senior director in model audit develop and enhance the comprehensive model audit strategy audit approaches sampling methodologies and audit steps within RBC.
- Become audit expert on regulatory requirements of market risk models deepen the understanding of the related business/function objectives key activities risks and controls including changes to the regulatory and business environments.
- Continue to develop technical expertise and support audit engagements related to a broader range of models beyond market risk models.
What do you need to succeed
Must-Haves
- Evidence of having validated and/or developed market risk models used in pricing valuation market risk management FRTB capital IRRBB ICAAP Stress Testing etc.
- Risk Management or Regulatory/Compliance experience in either 1st or 2nd line of defence on market risks.
- Knowledge of legislation and regulations relating to model risk management in Canada USA and UK.
- Ability to work under pressure and communicate effectively with the key stakeholders and self-motivated - able to work and learn independently communicate and collaborate effectively with others at all levels in the organization.
- Masters degree or higher in quantitative areas such as finance mathematics physics statistics or equivalent working experience.
Nice to have
- Working knowledge of Internal Audit Services practices policies procedures and systems with Internal Audit experience in Banking or Capital Market.
Whats in it for you
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 communitiesand achieving success that is mutual.
- A comprehensive Total Rewards Program including bonuses and flexible benefits competitive compensation commissionsand stock where applicable.
- Work with and learn from our extensive global network of people including risk management professionals data scientists researchers and various subject matter experts.
- Leaders who support your development through coaching and managing opportunities.
- Opportunities to do challenging work.
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Job Skills
Adaptability Auditing Commercial Acumen Communication Detail-Oriented Interest Rate Risk Internal Controls Interpersonal Relationship Management Long Term Planning Market Risk Market Risk Management Market Risk Modeling Model Audit Model Risk Model Validation Python (Programming Language) Results-Oriented Risk Management Framework Risk ModelsAdditional Job Details
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Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Inclusion and Equal Opportunity Employment
At RBC we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best effectively collaborate drive innovation and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect belonging and opportunity for all.
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Required Experience:
Manager
Employment Type
Full-Time
