US ALM Risk Manager

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At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you’re helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title

Job Description

What is the Opportunity?

The US GRM-Balance Sheet Risk (US GRM-BSR) group provides independent and effective on-site monitoring, controlling and communication on the nature and extent of all material liquidity risk and banking book market risk (non-trading market risk, interest rate risk in the banking book [IRRBB]) across RBC’s Combined US Operations (CUSO), which includes RBC’s US branches and agencies, RBC’s Intermediate Holding Company (RIHC) and its material entities: RBC Capital Markets LLC (CM LLC), City National Bank (CNB), RBC Bank Georgia, N.A. (RBC Bank). The group is relied up to ensure the implementation of and compliance with risk management policies and procedures.

The incumbent will support the Lead, US ALM Risk Management and the Head, US GRM-BSR in the oversight of banking book market risk across RBC CUSO as part of the Group Risk Management (GRM) mandate and will promote a “Best of Class” risk oversight environment.

The role involves providing complex analytical support for managing risk across large portfolios of assets and liabilities, along with the associated risk factors. The complexity exists at both the RBC CUSO level and within individual legal entities.

What will you do?

• The incumbent is responsible for applying a working level of knowledge of Asset Liability Management (ALM) (also referred to as banking book market risk, non-trading market risk, or interest rate risk in the banking book - IRRBB); a primary responsibility of this role is to provide support to the Lead, ALM Risk Management on matters pertaining to the oversight of the ALM profile and management of CUSO entities.

• This role will be one of coordination, working within established policies and procedures and assuming responsibility for interpretation and delivery within established policies and procedures.

• Independently conduct moderately complex routine operations and maintenance support activities.

• Demonstrate a good understanding of procedures and concepts within ALM and respond to moderately complex functional queries.

• Adhere to operating policies and procedures and regulatory guidelines and make recommendations within scope of ALM and/or provide input into policy and procedure amendments.

• Identify and independently resolve moderately complex routine issues in the context of ALM.

• Analyze data and prepare reports of observations, and relatively simple recommendations based on findings.

• Generally execute on approved strategy but may assist in the development of strategies/action plans to address technical and competency gaps within oversight of ALM.

• Ensure a strong control environment by aligning data management, methodology and quantitative models

• Utilize the Bank’s banking book market risk measurement platforms to support risk analytics

• Implement risk analysis tools to allow for deeper understanding of risk drivers and changes.

• Understand and quantify the impacts from model and parameter assumptions (quantitative and qualitative) employed within the banking book market risk framework, including deposit duration models, retail pricing models, and loan prepayment models

• Create consolidated reporting that includes additional sensitivity measures and stress testing, with consistent aggregation and integration across business lines, legal entities, etc.

• Monitor activities and exposures to ensure adherence to approved policies and limits

• Regularly review existing policies and limits, proposing updates and revisions where necessary

• Ensure risk reporting is timely and accurate and changes in risk are properly investigated and understood

• Provide insight on key risks and exposures versus market trends and potential events to identify and provide insight on emerging risk exposures

What do you need to succeed?

• 2+ years’ experience in the financial services sector

• Bachelor’s Degree.

Other Required Qualifications:

• Knowledge and experience in ALM and interest rate risk management at a large financial institution.

• Knowledge of and experience with US bank regulations for liquidity, capital and interest rate risk management.

• Excellent oral and written communication skills.

• Strong understanding of risks in the financial services sector, effective risk management approaches and global risk issues. 

• Strong record of work experience in financial service industry with good exposure to operational processes, financial products, credit and/ or risk management activities. 

• Self-starter with the ability to work independently and in an organized manner, with attention to detail, prioritize, and handle multiple work streams

• Excellent problem solving, analytical, organizational, written and oral communication skills

• Good personal computing skills, with knowledge of MS Office programs

• Intellectual curiosity, global and strategic mindset with ability to think conceptually

• Diplomatic and an effective consensus builder. Strong interpersonal skills with ability to develop and maintain relationships across business platforms and control functions of RBC, as well as with external counterparts

• Ability to meet tight deadlines and work with changing priorities in a dynamic team environment.

What’s 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, 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

• Opportunities to building close relationships with clients

The good-faith expected salary range for the above position is $110,000 - $165,000 depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs.  This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.

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

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Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
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We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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