Job Description

Come Work with Us!

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\xe2\x80\x99re 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 Analyst, Rates



What is the opportunity?

You will be responsible to accurately input rates daily into Infinity and Murex for rate fixing and settlement purposes, and to confirm rates related to Derivatives transactions supported by FIDO - Interest Rate Swaps, Options and FRA trades, and Structured deals. Develop and maintain a good understanding of 2006 ISDA Definitions, terms and definitions, as they relate to transactions supported by FIDO.

PRIMARY RESPONSIBILITIES:

Rate Fixing -

Perform functions for daily Rate Resets activity, accurately and on a timely basis for rate fixing and settlement purposes. Verbal / or email confirm trades that are rate set in arrears with counterparties for proper settlement

Have sound and good knowledge and understanding of all rate indices, their conventions, their published times and rate sources which are used by FID. This ensures efficient and accurate resolution to discrepancies with counterparties.

Reasonably ensure all required rate pages for rate calc input are all updated on respective Reuters\xe2\x80\x99 Market data sheets, taking into account their published time to minimize error in obtaining rates too early.

Ensure that items in the Toronto Workflow "Rate Reset Repair" basket are reviewed and sent to the "Supervisor Rate Reset Review" basket daily for Associate Director, Payment & Rate Setting\xe2\x80\x99s verification.

Ensure that all Rate Reset items in the Toronto Workflow "Fax Error" basket are re-faxed as necessary, and if they returned in the "Fax Error" basket more than twice, investigate if the fax number or email address in the system is current and update if necessary.

Review the Non-Fixed Floating Rates report, Structured Non-Fixed Floating Rates report and MRR report on daily basis (for 5 days ahead and current value date) to ensure manual resets are properly handled and referred to Analyst and/or the Associate Director, for verification prior to Infinity system input. Escalate items outstanding more than two days to the Associate Director, Payment & Rate Setting.

Review Daily Trades report to ensure that rate reset advices are generated for late new deals which have the same day or previous past dated rate fixing. Note: check for any trades with first stub interpolation and 1 day index, do not do special RR as it will corrupt the interpolated calculations.

Review \xe2\x80\x9cAdvices Not in Workflow report\xe2\x80\x9d daily to ensure all rate-reset advices are generated successfully to Workflow system.

Ensure accuracy of rate reset advice dispatches to Counterparty and distribute those to internal staff appropriately for settlements and to P&L group as required.

Assist external counterparties or internal Operations Personnel with rate investigations and/or discrepancies where applicable. Address inquiries in timely fashion and escalate items outstanding more than two days to the Associate Director, Payment & Rate Reset. Also ensure that manual rate reset confirmations are sent after Infinity Toronto system (i.e. Cash flow run) has been updated.

Liaise with Marketers, Traders, Documentation Officers\' and Analysts to ensure that proper trade details are maintained for rate reset purpose as agreed with clients.

Ensure incoming rate reset enquiry are reviewed on date of receipt, investigating discrepancies found immediately, to resolve all on a timely basis. Escalate to Associate Director, Trade Processing, any unresolved rate reset issues within a reasonable time frame. More proactive approach to investigations on Rate Discrepancy and ensure proper follow-up or advise Nostro for follow up

Relay (if any) amended payment instructions to Payment Officer for update to Infinity and Murex for new confirmation and payment purposes.

Protect the Bank\'s interest and reduce risk of loss by ensuring timely and complete identification of any discrepancies and missing trades.

Review Upcoming Payments by BO Flags report 15 days and 5 days in advance to scan and prepare for Emerging Market trades and its associated hedged trades where applicable (Non-deliverable BRL trades) which require notification to appropriate FO, Confirmations, and Trade verification personnel at least 1-2 days prior to FX rate fixing date for NDS and NDF; obtaining rate page for fixing (ie PTAX for BRL); confirming PTAX rate and calculations on the NDS and NDF with FO; copying Trade Processing Verification Officers to input FX Arbitrage tickets if applicable; advising Toronto Settlement group that the NDS /NDF is fixed for settlement.

Training and Support

Providing direct support and guidance to the junior reset analyst and provide assistance to Associate Director as required

Ensure compliance with mandated Unit Financial Controls /SOX Controls and RBC \xe2\x80\x9cStanding Orders\xe2\x80\x9d Policy requirements.

Update the EUC Change Log for any changes made to the identified EUC spreadsheets (if applicable) in accordance to the EUC Policy guidelines.

Develop solid understanding of derivative products (in particular try to understand the logic or mechanism underlying our Securitized deals and the process flow) and operational controls in deal processing, and identify areas where controls can be enhanced.

Provide critical basic coverage to the London Rate Setting Desk for purposes of printing and inputting rates and running cash flows, and daily reports.

What you need to succeed?

Must-haves

Post-Secondary or equivalent

Minimum 2 years\xe2\x80\x99 experience within Operations with exposure to Credit and Fixed Rate Derivatives.

Excel/VBA literate

Nice-to-have

Good working knowledge and accounting/valuation concepts of Fixed Income Derivatives products

Strong problem solving skills and organizational skills to handle high volumes.

Ability to manage stress and to work accurately in a demanding environment.

Good interpersonal and communication skills in dealing with other officers, traders, and clients.

Good working knowledge of various Systems: Microsoft, Word, Excel, Anvil, Infinity, Murex, eGL, StorQM, OBI, RIMMS & OPICS

What\xe2\x80\x99s 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

Work in a dynamic, collaborative, progressive, and high-performing team

Opportunities to do challenging work

Flexible work/life balance options

Job Summary

Address: TORONTO, Ontario, Canada

City: CAN-ON-TORONTO

Country: Canada

Work hours/week: 37.5

Employment Type: Full time

Platform: Capital Markets

Job Type: Contract (Fixed Term)

Pay Type: Salaried

Posted Date: 2023-05-31

Application Deadline: 2023-06-14

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.

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.

Join our Talent Community

Stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.

Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.

Royal Bank of Canada