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 Senior Manager, Business Risk, and Regulatory Governance



What is the opportunity?

Key member of a team that acts as a center of excellence for education and advocacy of information on RBC\xe2\x80\x99s risk management practices and programs, leading to embedding a risk mindset in the business.

Provide ongoing guidance to enable internal partners as the first line of defense \xe2\x80\x93 1(a)\xe2\x80\x9d point for regulatory and legal requirements in relation to Cards, Payments & Transformation (CPT) and Loyalty & Enterprise Partnerships.

Provide risk advice, counsel, and guidance to product managers, other business owners, and senior management to enable key business transformation initiatives. Apply professional judgment to solve problems and find solutions to complex business risk scenarios through collaboration and consensus building.

Ensures comprehensive risk identification, evaluation, mitigation and monitoring across all risk types for the business unit across all channels in accordance with the Enterprise Risk Framework and its associated policies, including: (1) risk identification, assessment and mitigation, (2) risk control design testing and monitoring; and (3) risk issue resolution, ongoing attestation, reporting, and communication.

Supports the design and development of appropriate reporting based on key risk indicators and key data requirements, working with product and strategy representatives as required to action.

Act as thought leader on regulatory requirements and risk programs associated with Cards, Payments & Transformation, and Loyalty & Enterprise Partnerships to ensure and enable a strong and profitable portfolio.

Support in the oversight of compliance issues and regulatory implementations to ensure alignment with business strategies and operational constraints.

Enhance shareholder value by (1) proactively managing business risk and regulatory requirements and complying in a commercially reasonable and client/partner friendly manner, (2) identifying opportunities to enhance our end-to-end processes, support in the development of policies and legal documentation through a thorough understanding of business strategies, risk and product policies, regulatory and legal requirements, and systems capabilities and constraints, (3) managing partnerships with Networks, Merchants, and other strategic vendors; (4) help develop and monitor strategic risk programs and (5) ensure risk management in the planning of initiatives, projects and solutions that contribute to and enable business priorities.

What will you do?

Assist in the evaluation of legal and regulatory risk. Evaluate internal controls and risk procedures and ensure that they have kept pace with the latest developments in the business and are documented appropriately.

Assist product managers and other business owners in evaluating and synthesizing regulatory, legal, operational and other risk considerations to find strategic solutions that enable the business within RBC\xe2\x80\x99s risk appetite, code of conduct and culture.

Actively engages in or supports direct manager in strategic planning and prioritization to ensure appropriate resources are allocated to risk mitigation and controls development and sustainment.

Supports in the development of key risk updates and associated reporting for CPT SMT including Risk Appetite, LOB Dashboard and the Annual Risk Assessment portion of the Business Portfolio Review.

Provide guidance to stakeholders on escalated production issues impacting legal or regulatory obligations, and ensure that such issues are identified, tracked, and resolved in a responsive and proactive manner and corresponding controls are implemented or enhanced.

Help business partners develop policy requirements and design supporting processes and controls.

Work in partnership with BRMS control testing to onboard key control and develop testing practices and methodologies.

Supports and provides guidance to CPT on Risk Assessments, ensuring risks are proactively identified and adequately mitigated and reported, creating action plans where necessary; supports the business at any Risk Assessment Forum discussions; Measures and Monitors the CPT Risk Appetite, Key Risk Indicators and Control Testing Results; and ensures the accuracy and integrity of the CPT controls.

Support in development of team-wide programs, tools and analysis that increase awareness and management of vulnerabilities within the portfolio and industry.

Gain the position of trusted advisor and help facilitate trade-off / prioritization decisions with senior leaders, functions, cross-functional project teams and colleagues by providing rigorous strategic risk and regulatory insight based on thorough research and analysis.

Strategically manage key regulatory requirements and support regulatory implementations to:

Ensure alignment with business strategies and operational requirements (i.e., implement so as to best align to our business strategies, is client-friendly, efficient, and commercially reasonable)

In partnership with Global Compliance, Law, RS&D, Networks, and other partners, consistently demonstrate industry-leading ability to expeditiously respond, address and resolve client issues, thereby gaining the confidence of regulatory bodies (FCAC, OSFI, etc.)

What do you need to succeed?

Must have:

Risk & Regulatory Management

Solid knowledge of RBC\xe2\x80\x99s Business and Functional Units

Proven leadership, facilitation, negotiation and professional communication skills

Strong business acumen and understanding of processes, systems, technologies and strategic priorities across Cards business

Demonstrated ability to impact and influence. Thoughtful and definitive decision maker. Ability to effectively understand and balance the risk / reward equation in all initiatives.

Sensitivity to the regulatory environment and potential reputational impacts

Sound knowledge of credit systems (e.g. CCAS, CASPER, and OLBB, etc.)

Critical ability to respond and react appropriately to shifting priorities.

Nice to have:

Undergrad / postgrad degree

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.

Ability to make a difference and lasting impact

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

Opportunities to do challenging work

Job Summary

Address: TORONTO, Ontario, Canada

City: CAN-ON-TORONTO

Country: Canada

Work hours/week: 37.5

Employment Type: Full time

Platform: Personal and Commercial Banking

Job Type: Regular

Pay Type: Salaried

Posted Date: 2023-06-12

Application Deadline: 2023-06-26

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.

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Royal Bank of Canada