Senior Manager, Business Risk for RBC Wealth Management

What is the opportunity?

Reporting to the Director of Business Risk for RBC Wealth Management and being embedded in WMs 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 RBCs Operational Risk Framework in this newly created Business Risk team, 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, WM Technology, Global Credit and Cash Management, WM Operational Data and Information, WM Investments and WM Strategy.

Manage a team of qualified and experienced Operational Risk professionals and practitioners and be responsible for planning, developing, and executing on all aspects of RBCs Operational Risk practice for the businesses outlined above. Lead and manage the Risk Appetite process for RBC Wealth Management globally, including quarterly reporting and annual refresh exercises. Lead the Risk Assessment program for RPAs in WM globally.

What will you do?

• Develop, implement, and comply with the Operational Risk Framework in WM specifically for the WM Strategy, Products & Digital Investing (SP&D) team. Manage a team of qualified and experienced Operational Risk professionals and practitioners and be 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 RBCs 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 RBCs 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 RBCs 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 RBCs Operational Risk management practices and programs to foster sound operational risk management in WM.

What do you need to succeed?

Must Have

• 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 Have

• 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.

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 communities, and achieving success that is mutual.

• 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.
• Flexible work/life balance options. We work in a hybrid role, with minimum three days in the office per week.
• Opportunities to do challenging work.
• Opportunities to take on progressively greater accountabilities.
• Access to a variety of job opportunities across WM businesses

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above