Director, Business Risk for RBC Wealth Management

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Director, Business Risk for RBC Wealth Management

senior · Risk & Compliance

Job Description

What is the opportunity?

Reporting to the Head of Business Risk for RBC Wealth Management and being embedded in WM’s 1st line of defense, the Director of Business Risk is a trusted Business Risk adviser to Senior Leaders in WM in general and the WM Canada businesses in particular.  

The Director will continue to develop, implement, and sustain RBC’s Operational Risk Framework throughout WM, ensuring alignment with the Enterprise ORM strategy for the management of Operational Risk (ORM). You will guide Business Risk management leadership within WM including providing expertise, advice and counsel to senior management, enhancing their ability to anticipate and manage business risk effectively. The WM Canada units specifically supported are Dominion Securities (DS Retail), Phillips Hager and North Investment Council (PHNIC), Royal Trust (RT), WM Financial Services (WMFS), DS Global (DSG), Private Trading Office (PTO) and WM Canadian Operations (WMCO).

Manage a team of qualified and experienced Operational Risk professionals and practitioners and be responsible for planning, developing, and executing on all aspects of RBC’s Operational Risk practice for the businesses outlined above.

What will you do?

• Develop, implement, sustain, and comply with the Operational Risk Framework in WM specifically for the WM Canada businesses. 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.

• Work closely and regularly with Operational Risk (1B) peers from GAM, Investor Services and WM Strategy Products and Digital Investments to collectively act as the 1LOD for all Operational Risk matters supporting all WM Businesses in Canada

• 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 Senior Director. Implement the enhancements to and be responsible for the execution of RBC’s Internal Control Management Policy supporting WM Canada businesses.

• Implement the enhancements to RBC’s Risk and Control Self-Assessment program in WM Canada including the establishment of Risk Register, Risk statements, Controls.

• Responsible for compiling and producing the annual RCSA for WM Canada (L2 and L1) Responsible for guiding the team in complying with RBC’s Issues Management framework (EIM) and Project engagement.

• Managing the team in performing Root Cause analysis of major events and review and approval of all OREs for WM Canada

• Responsible for Product risk reviews, change assessments, and RTA/IRPs for WM Canada

• Responsible for the development, maintenance, tracking and reporting of KRIs for all WM Canada businesses including the annual refresh.

• Responsible for the quarterly production of Risk Reports for WM Canada and underlying BUs and occasionally present these reports to the WM Canada OC, as a delegate of the Senior Director.

• Attend all WM Canada Operating Committees and other Governance forums as the risk SME and as delegate of the Sr Director

• Represent WM Business Risk and WM Canada businesses in all GRM, NFRR and Compliance forums as required.

• Act as a center of excellence for education and advocacy of information on RBC’s Operational Risk management practices and programs to foster sound operational risk management in WM Canada.

What do you need to succeed?

Must Haves:

• Progressive leadership experience in the financial services industry with at least 10 years of management experience

• CPA, CFA, or MBA

• Prior people management experience and experience in executive stakeholdering

• Good knowledge of leading operational risk practices and regulatory requirements and expectations for Wealth Management businesses.

• Leadership presence and proficiency and experience from working in a variety of businesses within Wealth Management or RBC

• Collaborator and highly adept in working with various stakeholders, executive level Business leaders within WM Canada and functional partners.

• Strong presentation and communication (verbal and written) skills.

• Good impact and influence skills, problem solver

Nice-to-have:

• Previous experience in RBC Wealth Management or in a Business/Operational Risk role at a Director (GG06) level

• Experience working with business and/or technology stakeholders in an Enterprise 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.

• Flexible work/life balance options.

• Opportunities to do challenging work.

• Opportunities to take on progressively greater accountabilities. 

• Access to a variety of job opportunities across business.

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

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One 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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RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.